Ecommerce: Trends to watch in 2022

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  • The pandemic and the lockdown have brought many new learnings to all businesses, and e-commerce has undoubtedly been one of the fastest growing sectors.
  • As we move into a new year, we’ve reached out to ecommerce platforms to understand what role this will play in 2022.

The e-commerce segment has experienced good growth in recent years and shows no signs of slowing down in India. And why would he do it? Hasn’t shopping gotten so much easier now? We can buy anything from groceries and perfumes to expensive jewelry, in the comfort of our homes. The pandemic has further brought about fundamental and long-term changes in the way people shop and make purchasing decisions. This has accelerated the growth of the industry in the country, as historically offline shoppers have also downloaded e-commerce apps to their phones to shop from the security of their own four walls. The past year and a half has attracted millions of new e-commerce users, including small towns and villages who are now comfortable with shopping online. The industry grew 77% between 2020 and 2021, and Tier II and III cities are now trading more than ever, according to a recent report from Bobble AI. This trend has driven e-commerce platforms to embrace a wide range of regional brands and local sellers, which offer a compelling value proposition to consumers.

With increasing internet penetration, e-commerce players expect further growth from Levels II, III and beyond, which will cumulatively contribute $ 150 billion in e-commerce according to the RedSeer Consulting report. The Indian market is expected to overtake the United States to become the world’s second largest e-commerce market by 2034, another report revealed. It is on track to hit US $ 99 billion by 2024, up from US $ 30 billion in 2019, with a CAGR of 27%, with grocery and fashion becoming the main drivers of this incremental growth.

As we move into a new year and e-commerce further expands its presence in the country, we are chatting with a few e-commerce platforms to discuss what lies ahead, where the second phase of growth would come from and what trends are coming. would dominate the industry. . Here’s what they had to say:

Manish Taneja, Founder and CEO Violet.com:

The year has witnessed significant growth in the beauty e-commerce industry, ushering in next year with great potential. In 2022, the emergence of virtual reality tools will fuel the industry. Delivering virtual beauty experiences that seamlessly merge with an omnichannel approach will be the norm. Over the next year, at Purplle, we will be investing heavily in advancements in technology and data science to further personalize the customer experience. Natural and transparent beauty products, effortless shopping with shorter delivery times, data-driven product development and value-driven experiences are some of the other trends that will emerge in 2022.

Bharati Balakrishnan – Country Manager and Director, Shopify India:

Ecommerce: Trends to watch in 2022

The Indian e-commerce market will continue to evolve in 2022, with D2C brands taking center stage, driven by growing consumer demand and local brands increasingly making e-commerce a priority. On the one hand, the new buying habits formed over the past 18 months will become an important factor: consumers have embraced online shopping and are actively choosing small independent brands. This means that the D2C brands are here to stay, and we anticipate the emergence of a new generation of proudly Indian brands in food, fashion and lifestyle. Simultaneously, traditional brands and the retailers that dominate offline are evolving to meet the demands of new consumers – they are building to provide a cohesive experience for their consumers both online and offline, and would like to use their own online stores to truly expand their brand. promise to existing and new customers. It is an exciting time to be a mainstream brand in India

Amit, CEO, OLX Autos France:

Ecommerce: Trends to watch in 2022

The rise of the prosumer: the many faces of personalization

With the majority of shoppers now clearly preferring online shopping over the traditional in-store format, the new trend is in favor of the forward-thinking, influential and proactive prosumer. Personalization of products according to customer preferences will be key in 2022.

Online marketers will need to integrate personalization products with advanced technologies to deliver tailored and seamless customer experiences.

In a world without cookies, contextual marketing has emerged. Consumer targeting has become major – from category, to keyword, to semantic contextual targeting, now. Many other trends like crypto payments and dynamic pricing will increase for outright retailers. But it’s personalization for the prosumer that will chart the way forward.

Prabhkiran Singh, Founding CEO, Bewakoof:

Ecommerce: Trends to watch in 2022

Live video commerce, virtual test rooms (or AR / VR adjustment aids), personalized lifestyle products, and 3D animated UX interactions are the top trends expected to disrupt the experience of driving. purchase in the coming year.

Video or content commerce would be largely driven by content generated by influencers or users. To drive scalability, several SAAS companies will launch solutions to simplify handshakes between brands and influencers in the performance-driven content acquisition, ingestion and payment space. The first players in space are Myntra Studio, Trell and Bewakoof Bshots.

With significant venture capital investments into Web 3.0 and the Metaverse space, many product cataloging issues related to precise sizing or fit assessment would become more trivial. We’ll see brands launch virtual test rooms, 3D product shoots, and fit assistants to bridge the gap between the online and offline shopping experience.

3 out of 10 customers who buy from our platform want to customize the design and size of their products. We see this as a growing trend that more brands will be embracing over the coming year.

3D and animated content will become a UX trend in the mainstream internet industry. Animations were once a hindrance for many designers and developers because they could slow down the loading speed of websites or applications and consuming data. With the rise of 5G and the spread of 4G across the country, designers will choose to use more animation.

Kashyap Vadapalli, Marketing Director and Business Leader, Fried pepper:

Ecommerce: Trends to watch in 2022

“MarTech,” which basically means the fusion of marketing and technology, is the future of commerce where brands will manage marketing in a digital and connected ecosystem to deliver an immersive experience to their customers. With the advancement of technology in marketing, consumers are constantly looking for an improved shopping experience. This means that from 2022 we will see more technology-integrated experiences such as the development of offline VR shopping rooms for consumers. Since virtual reality offers a 360-degree immersive perspective, products in virtual design, especially big-ticket items like furniture, can easily be a tempting offer for customers who want an interactive experience with the product before taking a decision, thus simplifying the buyer’s journey.

Going forward, I believe Martech will play a dominant role in strategic priorities and brand investments, pushing marketers to embrace digital operations and integrated customer experience.

Shubh Darpan, VP- BI & Analytics, Cashify:

Ecommerce: Trends to watch in 2022

Based on the trends we’ve seen over the past two years, at Cashify we believe the demand for refurbished phones is here to stay. It started with the pandemic and the deadlocks that followed, when having a mobile became a necessity. Refurbished devices such as smartphones, laptops, tablets, etc. were considered to be preferred by the Indian consumer. Mainly due to the economics of it, the home improvement market has seen a bullish movement in India. Additionally, with the shortage of chipsets, there have been fewer smartphone launches lately. This too has been a factor that has pushed consumers towards refurbished mobiles. Refurbished smartphones offer an optimal and sustainable solution to today’s technology-dependent world and we can see it going a long way.

Gitanjali Saxena, Business Head – Global Luxury, Tata CLiQ Luxury

Ecommerce: Trends to watch in 2022

In essence, shopping is a social experience. As people continue to spend more and more time online and on social media, online shopping, which has experienced a huge boom due to the pandemic, is now becoming social as well. Social shopping, which is already booming in countries like China, has gained momentum in India and will be a dominant trend in the coming year.

Engaging and immersive selling formats, such as live commerce, will be in the foreground. In addition, augmented reality and virtual reality will play a crucial role in improving the online shopping experience, enabling greater personalization and targeting niche customers. Some of the biggest brands in the luxury fashion and beauty industries are working closely with social media platforms like Instagram and Snapchat to leverage their live streaming, in-app shopping and augmented reality capabilities. to deliver an experience that every luxury customer desires. Snapchat has harnessed the power of technology and introduced an augmented reality lens that enables virtual product testing.

Convenience, personalization, and a sense of community are some of the driving forces behind the growth of social shopping. The advancement of technology opens up a multitude of exciting opportunities in social shopping, including user-generated content, virtual product trials, direct interaction with brands and peers, and instant gratification. Ecommerce platforms will reinvent their strategy to incorporate elements of social shopping by introducing innovative and engaging formats to strengthen their reach and engagement with customers.

With social shopping, e-commerce platforms can revolutionize the way people shop on their platforms by presenting a new way of shopping.

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