Helping Retailers to Keep their Customers Smiling
The wonderful world of retail it is. Everyone around us is looking to buy something new to meet their needs and wants. It's 2022, and now is the time when all the sellers and buyers are connected closely without any middle man.
This digital era is the deciding point for all the businesses worldwide to think and plan their year ahead.
We all are aware of how the eCommerce industry works. We get to see the products online, place orders for them, and get them shipped right at our doorstep. At FAYVO, where we talk about unlimited entertainment and fun, we also care for the small businesses operating with us. Therefore, we have to keep all our participants together and connected.
This blog post is for everyone who is interested in women's apparel, branded shoes, imported makeup, or anything in style; and for those who are planning to get running with their own little eCommerce store online.
After the two long years spent with the severe rules of the pandemic, today we've got another chance to reshape the way we think a business gets successful. Today, team FAYVO will shine a light on some of the most significant trends that will shape the marketplace in the year 2022 and ahead.
So, let's get started with us.
Personalized Experiences Will Go a Long Way:
According to the recent surveys conducted by marketing experts, it is seen that whenever a shopping experience is personalized and more connecting to the users, the customers are 110% more likely to add additional items to their shopping baskets. Also, giving your customers a human touch in communication will lead them to spend more than they've initially planned.
It is a simple common human behavior, and the retailers are now cashing it out. The need for personalized experiences is now more than ever. Today we have thousands of businesses running online, so why'd a person shop with us only?
To stay in their mind, you have to make them feel special, and therefore, providing a personalized experience gives you a competitive edge in the highly saturated retail space.
Some big names in the retail industry are already busy going the extra mile for their customers. They are investing in giving highly personalized experiences, and fortunately, they are succeeding. In the coming years, many small businesses are also understanding and exploring ways to introduce personalized experiences for their users.
Shoppers Will Buy Directly from Social Platforms:
'We don't have a choice on whether we DO social media; the question is HOW WELL WE DO IT.'
Being active on social media takes a big part of our everyday lives. We get entertainment, news, information, and even business using social media – and shopping is quickly becoming a social activity.
Another trend that has reshaped the shopping experience is the availability to buy products via social websites. When we are scrolling down the memes, we get to see ZARA's new summer collection. Quickly, we head on over to the link, see their product catalog and make a purchase.
It is how fast the purchases have been transformed. Whether it is about finding deals through social media or sharing the shopping experiences, we see a definite shift taking place toward social commerce.
A recent study by Forrester showed that 38% of the audience shops via social media only in the United States. Another study revealed that more than one-third of all consumers make their decisions based on social media ads.
The Drastic Shift Towards Online Shopping:
When the brick-and-mortar stores closed, everyone was worried about the profit margins and sales, but right then, the online business became the savior for us all. Online platforms are observed to bring more customers rather than a physical location.
Based on the authentic stats and data, it was clearly seen that 60% of adults have totally shifted from in-store shopping to online shopping. Be it clothes, books, groceries, etc.; everything is brought online.
If we talk about the MENA region, E-commerce is becoming a reality, and it is reinventing consumers' path to purchase. The new trends are forming entirely new customer experiences, disrupting the old business models, and creating growth opportunities for large and small retailers alike.
Since the world is reopening, many retailers now take a digital-first approach. It is about focusing more on their online store and making it a priority. Online businesses are now ahead of their physical shops.
Artificial Intelligence will take the lead.
The world we live in is 90% taken over by bots and tools. Artificial Intelligence is another smart way of knowing people and convincing them. Technology has totally revived the concept of doing business and has had a big impact on eCommerce over the last few years.
As AI is all about personal choices, so it plays a key role in improving product recommendations, user searches, customer segmentation, and customer support. Implementing Artificial Intelligence in your business model will lead to significant performance improvements.
So, why is AI a new trend in 2022?
At FAYVO, we took a try on using Artificial Intelligence models to make your newsfeed better and more related. AS a result, we got many happy customers and saw it really working for us.
According to the experts, Artificial Intelligence will soon be used to create products too. The AI-enabled tools will provide retailers with a solution to work smart and leave the rest to the tool. As said, this trend will lower the barrier to adding more costs to the headcount.
There will be an exponential increase in voice searches.
We have already seen smart speakers, voice recognition devices in regular home appliances, and the IoT (internet of things.) We live in a space where everything is connected and getting better every single day.
This interconnection of the devices and lives around us has affected the shopping trends a lot. Not only our smartphones but the voice assistant tools are being used by every other person. People use voice search to shop online, order food, and organize their lives. The popularity of voice search among the public creates an opportunity for eCommerce businesses to do more business.
Businesses will optimize digital strategy for conversion.
Bringing an audience to your online business is one challenge but converting them into buyers is another. Amidst COVID-19, businesses really paid attention to digital conversions and thought of an effective strategy for it. If we talk about the shopping trends to look forward to in 2022, Scott Ginsberg, Head of Content, Metric Digital, said that businesses start and run, but the survivors are those who look upon the content that is more likely to hook your audience quickly.
These days, customers have also become very demanding, impatient, and inquiring than ever before. So, the trends are toward fast checkout processes and quick turnaround times. Your business has to be unique as well as provide an excellent customer experience.
Deciding if a Trend Makes Sense for Your Business:
Now, when we have seen the top trends in the shopping industry for the year 2022, and ahead, we need to analyze smartly that not every trend is worth jumping on. The strategies related to the business should be adapted, and the rest should be left. Also, you need to find out which one deserves your time and effort?
While FAYVO works to assist you with everything you are interested in, we are here to help out the small businesses. From giving you suggestions on your favorite movies, top songs, best-selling books, and more, you need to run your business cleverly.
With the magical hacks for your eCommerce business, you need to be intelligent enough to implement trends in your business to maintain a reasonable ROI. Therefore, here are several factors that you should consider to evaluate industry trends and make the right move for your business.
## Stay updated on industry influencers and publications.
The best thing for yourself and your business is understanding your working niche by reading related news in the industry. That's about being in the loop of what's happening. Start by finding informative blogs, top-rated influencers, and high-quality publications related to your business.
## Keep an eye on changing trends.
In this digital era, everything is changing at a very fast pace, and so are the industry trends. To find out what works best for you, you need to be aware of all the updates. Do it by analyzing reports or data etc. That's how you can understand where things are headed.
## Find and explore digital tools to examine customer behavior.
Business is all about customers. What you do for them is what you get back. Therefore, use customer data to evaluate if a trend is right for you. Many things work for the eCommerce business dealing with clothing, but the same trends increase the customer churn rate when applied to a different business. Take help from the data gathering tools to know your customer behavior.
## Stay in touch with your customers.
Don't create a distance between you and your customers. Always keep contacting them, but never spam them. On a lighter note, ask them about what they like and dislike in your business. Getting feedback from customers gives accurate stats on insights into what to do next.
## See what your competitors are doing.
Never lose track of your competitors. Check if they jumped on a specific trend? If so, how did it work for them? Of course, you don't have to copy them but being aware is another way to measure a trend.