Incredibly, eCommerce sales accounted for approximately 27.1% of total retail revenues generated in the UK in January 2022. This share has jumped markedly of late, with this trend accelerated in part by the fallout from the coronavirus pandemic.
Of course, tech innovations such as Cloud computing and the rollout of 5G networks have also inspired an increase in entrepreneurship across a huge number of markets, which are now driven by key online business trends.
But why is the world of business edging increasingly online, and what are the most important trends to be aware of as an individual?
Why Are Businesses Now Moving Online?
While a growing number of new businesses are establishing themselves primarily online, existing ventures (especially in the retail space) are also having to transition online to help boost sales and target a viable market share.
One of the main reasons for this is the behaviour of customers. Make no mistake; more than 75% of people in the UK now shop online at least once a month, while some 79% of smartphone users have used their devices to purchase during the last six months.
Because of this, companies are having to transition if they’re to effectively target customers and generate viable leads, before converting these into sales and sustainable revenue.
It should also be noted that online innovations help businesses to be more efficient in terms of how they operate.
For example, advancements in Cloud computing now make it easier than ever to create, manage and securely transfer documents in real-time, while remote communication tools allow businesses to liaise with international clients in real-time and across the board.
The sheer range of such online innovations makes it considerably easier for businesses to operate in the virtual realm, creating a comfortable setting for entrepreneurs that want to minimise overheads without compromising on performance.
Key Online Commerce Trends to Watch in 2022
At this stage, all that’s left is to consider the key online commerce trends that will continue to shape businesses this year. Here are a few to keep in mind:
- #1. Look for Online Income Streams: If you’re looking to start an online business or generate additional streams of income through the virtual realm, you may want to consider practices such as forex trading. After all, this unlocks accessible and speculative investment vehicles like spread betting, while you should note that such methods allow you to profit without assuming ownership of the underlying asset class.
- #2. The Growing Importance of Content: Let’s face facts; content has always been king in the marketing realm, and this trend will only become more relevant online. After all, good and insightful content is crucial to organic engagement, which in turn translates into improved online visibility and more eyes on your business. This applies to all content for your blog and outreach, which should be well-written, structured and offer value to readers.
- #3. The Rise of Mobile-First Marketing: As smartphones become increasingly sophisticated and capable, such devices can complete a much larger and broader range of tasks. This includes researching and purchasing goods, which is why m-commerce is such a key trend in 2022. Interestingly, this is triggering a rise in mobile-first marketing and the targeting of channels like Instagram and Twitter, while also precipitating a revival in out-of-home (OOH) advertising.