1. Globalization will accelerate
While economic uncertainty appears to be increasing in today’s rapidly changing corporate environment, two factors remain constant: the Internet and globalisation. Not only do these two trends exist in this context, but they are also highly likely to be two of the most influential head-to-head heights in contemporary corporate economics, particularly in light of COVID-19.
Throughout 2020, the rapid adoption of digitally connected technology has created a plethora of globalisation opportunities. People are no longer required to meet in person; rather, they are migrating to the online world.
During the pandemic, the majority of employees who worked from home expressed a desire to remain at home. And a significant number of them have relocated from large cities to smaller, less expensive towns.
Leading companies will increasingly embrace global strategies and technology in the future, as it enables them to expand their consumer base globally, especially in the 5G era. Businesses that are unwilling to adapt risk falling behind their competitors.
2. The Strengthening of Social Media Channels as a Sales Channel
Around 74% of consumers make purchase decisions via social media. People are increasingly purchasing items directly from the social media network on which they are currently logged in. In 2022, modern users will increasingly rely on social media for purchasing.
Social commerce (purchasing directly through social media) is gaining traction. Instagram Shopping, as well as the newly launched Instagram Checkout, are at the vanguard of this movement.
When customers shop on Instagram, they are directed to an eCommerce website where they can complete their purchase. By contrast, the new Instagram Checkout feature enables users to make payments directly on Instagram, without visiting the brand’s website or app.
By 2022, the majority of observers believe, Instagram and TikTok will have fully functional e-commerce platforms with integrated affiliate networks.
3. More stores will strategically offer customizable products.
In 2021, many e-commerce sites will offer personalised items to their customers. This trend will continue to grow and spread in 2022.
Online merchants are utilising interactive content to better understand their customers’ needs. They do this through surveys, polls, online interactive sessions, and emails, among other methods, in order to gain insight into customer behaviour and develop products that appeal to a variety of client segments.
Numerous large corporations allow customers to make changes online. The customised items are then delivered to the customer’s address. Nike, for example, allows consumers to customise their Lunarglide models and some other product lines.
4. Mobile shopping is gaining popularity.
The ability to shop from any location is a significant advantage of mobile e-commerce. In the United States, four out of every five customers makes an online purchase, and more than half make the purchase on their mobile device. In Europe, 55% of consumers make purchases using their mobile phones. Online shopping on mobile devices is expected to continue its rapid growth in 2022.
E-commerce companies are enhancing their customers’ mobile shopping experiences. Numerous e-commerce businesses are modifying their PWAs. A Progressive Web App is a web page that performs the same functions as a native application. As a result, e-commerce businesses are not required to develop applications for their stores.
Push notifications, offline mode, and access from the home screen are just a few of the PWA’s features. Users are not required to download store apps to their smartphones locally, which enhances the customer experience.
As a result, the potential for e-commerce, specifically mobile commerce, will grow even further in 2022. Additionally, there will be a commodity shift, with businesses offering a variety of new products to meet customer needs during COVID-19.
Additionally, the number of businesses entering the e-commerce space continues to grow. Businesses that previously only had physical locations are now venturing into online sales. From then until 2022, businesses’ competitiveness will continue to rise.