23 July, 2022
5 e-commerce Website Trends to Watch Out for in 2022
The pandemic years heralded a watershed moment for the e-commerce industry as more and more consumers warmed up to the idea of online purchases. Statista reports that e-commerce retail revenue in the US soared to $768 billion in 2021. Experts expect this trend to sustain, with forecasts showing that this value will surpass $1.3 trillion in 2025. These numbers indicate the growing relevance of the e-commerce business model. This upward shift has boosted the demand for e-commerce website developers. But before you embark on your e-commerce journey, check out the leading trends for 2022.
The Top 5 E-Commerce Website Development Trends to Consider in 2022
E-commerce website development has witnessed many positive changes in recent times. Today’s top websites are aesthetically pleasing and customer-oriented, driving better results for businesses and users. What are the leading trends shaping this change? Let’s explore:
- Virtual Reality (VR) Experiences can Drive Conversion
Early analytics indicate that VR experiences can help online businesses grow conversion rates by 17%. VR features within e-commerce platforms can support customers in making quicker decisions. It can offer certainty about the product-user fit and lead to higher conversion rates.
- Buy-Now-Pay-Later (BNPL) Schemes can Minimize Cart Abandonment Rates
Cart abandonment is a persistent problem in the e-commerce industry. The cart abandonment rate across industries is around 70%, representing a revenue loss of about $18 billion each year. BNPL schemes can contribute to solving this problem. 52% of US consumers say that they want to purchase products on credit if they do not have to pay interest. BNPL schemes by providers like Sezzle, PayPal, and AfterPay allow shoppers to buy and pay the amount later. No interest is applicable if they pay within a stipulated date. The US witnessed a 20 to 30% increase in conversion rates with BNPL during the holiday season in 2020. The average order value (AOV) also jumped by 30 to 50%. Hence, integration with BNPL options is a leading e-commerce website trend today.
- Loyalty Programme Integration Can Boost Sales
Loyalty programs offer incentives to regular buyers to enhance customer retention rates. Studies show that loyalty program enrolment can increase the AOV by 319%. Loyalty program features allow regular shoppers to experience better benefits on an e-commerce platform. These offers and exclusive opportunities lead them to buy more and stick to a brand. Hence, adding loyalty features has become a crucial consideration for e-commerce web developers.
- Genuine Reviews Can Induce Customers to Buy More
The inclusion of credible online reviews can improve sales figures. 67.7% of the customers admit that they make purchase decisions after going through online reviews. Therefore, adding reliable reviews can enhance an e-commerce website. Reviews with videos and pictures can generate more interest and induce sales.
- Live Streaming in E-Commerce
Live stream has proven itself as a worthy trigger for e-commerce sales in China. McKinsey analysts believe that this trend can extend to other parts of the world, initiating 10-20% of all online sales by 2026. Hence, this feature integration can also boost the functionality of your e-commerce site.
Now that you know how this space is shaping up, you can contact My Mogul Media and tap into their e-commerce development expertise.
