The impact of the COVID pandemic has clearly become the most prominent element influencing retail patterns in 2021, continuing from 2020 and definitely continuing through 2022. We’ve looked at the consequences in-depth, including the impact of COVID-19 on eCommerce Statistics.
However, we can’t say that COVID is responsible for all contemporary retail trends. Sure, technology has escalated many things, such as the transition to online shopping, but there was already momentum in that direction, right? So, let’s find out the top upcoming retail trends of 2022 here;
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Top 10 Retail Market Predictions Of 2022
When I say this is a marketer’s favorite time of year, I don’t refer to Black Friday, Cyber Monday, or even pumpkin spice lattes. It’s that time of year again when marketers love to go into their time machines and predict which trends will be popular next year. It’s time to make some predictions.
1: Online Shopping Trend Will Increase
The surge in sales produced by its online competitors has been a clear counterweight to the closure of brick-and-mortar retailers. Almost 60% of consumers said they mainly bought in person before the pandemic. That percentage has now dropped to 37%. In addition, 42% of poll respondents believe that in a year, they will buy both in-person and online equally.
As the world promotes an open market, the ratio of people who claim to conduct most online shopping appears to be rebalancing. For example, 16% more people plan to do most online shopping in 2022. It will be a 6% increase from this year’s statistics.
2: Contactless Payment Modes Will Boost Up
Contactless payments were not standard before the pandemic, but they grew in popularity between 2020 and 2021. Contactless credit cards have increased 36%, while contactless mobile payments have increased 33%. Even the supermarket delivery services have increased 38% during the Coronavirus pandemic.
Contactless payments have been sluggish to take off in some countries, New Zealand, because of hefty bank fees. However, due to increased demand during COVID, banks cut these costs in 2020, but several raised them in 2021. Nevertheless, consumers have now seen the benefits of contactless payment and will continue to demand its access in 2022.
3: Retailers Will Engage In Omnichannel Marketing
Companies that use omnichannel methods have a 91% higher customer retention rate. Instead of focusing on one or two channels, many retailers and other businesses increasingly distribute their marketing activities across many media. Often, a company will reach out to a client through many channels at various points of their purchase cycle.
However, employing numerous channels for a campaign isn’t omnichannel marketing. It ensures that your channels work together to provide a seamless marketing experience for your customers. When merchants employ AR and VR to enhance the in-store and online shopping experience, they are engaging in omnichannel marketing.
4: Customers Will Incline Towards Sustainable Products
In 2021, the fight for sustainability had a significant influence on retail, and it will continue to do so in 2022 as well. Sustainable buying requires customers to understand what a product is made of, where it is manufactured, and what they may do with it once they are finished using it.
Two-thirds of UK and German consumers feel that limiting the impact of climate change has become even more important to them after the pandemic. Retailers have realized this and have begun adopting social-responsibility audits at their suppliers’ factories. They have also discovered that bagged packaged goods are a good fit for retail companies.
5: Instagram Shopping Trend Will Enhance
Instagram is the most sophisticated social network for online shopping. It was a game-changer when they announced Instagram Shopping and the ability to make purchases straight from the app. Retailers may now effortlessly promote their items on Instagram. You have the opportunity to express your narrative and promote your items.
Retailers will utilize Instagram to personalize the purchasing experience for their customers. For example, a checkout on Instagram allows shops to provide an all-in-one experience to their customers. Consequently, marketers can engage with customers, provide targeted offers, gather valuable feedback, and finally sell their products successfully.
6: Faster Delivery Option Will Become More Common
During the pandemic, homebound customers became accustomed to having speedy, same-day, and sometimes even overnight delivery alternatives, and since then, it has become a standard. Merchants may now utilize the faster delivery experience as many touchpoints to promote client brand loyalty.
To differentiate themselves from the competition, all businesses should provide smooth, low-cost shipping and easy delivery alternatives. If the retailers can make delivery expectations apparent as early as possible in the purchasing process, it will help them thrive in 2022.
7: AI Technology Will Prove Its Worth
Retailers are progressively using artificial intelligence in their operations. The internet took some time to transition from idea to reality, but it is already mainstream. Inventory management, adaptable homepages, dynamic outreach, interactive chat, visual curation, guided exploration, conversational help, customer interaction-all are examples of AI in the retail industry.
AI is being used by businesses to provide a more personalized buying experience. That’s why chatbots are so popular now. According to statistics, 91% of retail customers engage with chatbots daily, which means AI will be even more powerful in 2022.
8: Voice Search Will Be More Popular Than Text Search
Growth in voice search and personal assistants is another retail trend that will popularize in 2022. According to Google, 27% of internet users currently use voice searches on their mobile devices. It’s trendy among Millennials and Generation Z, who would rather talk into their phones than type.
Customers’ shopping habits have altered due to this retail trend, and online transactions are rapidly increasing. As a result, voice search is clearly the rage these days and is one of the fastest-growing eCommerce trends. According to the most recent statistics, around 3.25 billion individuals utilize voice search daily, and the number is rising.
9: Retailers Will Be Less Cryptic To Accept Cryptocurrency
More than 6,000 cryptocurrencies are available on the market, and more retailers accept them every day. Non-fungible tokens are digital files connected to blockchain that offer ownership to digital information. It means more retailers will be ready to accept these digital coins instead of cash in 2022.
Nike has recently submitted seven trademark applications for virtual items, such as shoes and clothes. Dolce & Gabbana sold a nine-piece fashion NFT collection for a record $6 million in October. In addition, specially created NFT movies and digital games were marketed by Gucci and Burberry.
10: LiveStreaming Will Promote More Sales
Over the years 2020 and 2021, live streaming has become increasingly popular. Consumers who cannot leave their homes found live streaming to be an engaging method to participate when shopping online. In addition, consumers watched celebrities and influencers deliver entertaining events on various themes to promote products.
By allowing viewers to comment during live streaming, the retailers brought an in-store personal service to the screen. For example, Chico’s, a women’s clothing retailer, now broadcasts live on Facebook daily. Even Instagram announced a series of live broadcasts with influencers hosting exclusive product launches, so the trend will continue to rise in 2022.
The Bottom Line
This article has mentioned the best retail market predictions that will likely dominate the 2022 market. If all these trends thrive in the retail industry, they will become the focal point of other business sectors as well. So, make sure you are in touch with these trends else, your retail store may lag behind the race.
Kacee Christian is a freelance content writer and enthusiastic blogger. She is the co-founder of Exclusiverights.. She contributes to many authority blogs such as Techrab, worldtech24, Newsstoner, Newsprofy, Techmagnews, Truehealthtips.