In the eCommerce world, the competition is fierce. To stay ahead of your competition, you must know and follow the latest trends. Whether you are a big or a small retailer, if you do not know or keep up with these trends, you will be behind your competitors, losing money, customers, and market share. 

eCommerce sales growth right now is unstoppable. According to eMarketer, online sales will be $5.7 trillion. And there is no sign of that stopping because the prediction only shows continuous growth! There are many reasons for this. Maybe the top one is the high level of comfort for customers to obtain the product or service they want. From wherever you are, you can order anything you want. So, there is no surprise that online sales growth is unbeatable. So, we are telling you the eCommerce trends in the last month of 2022!       

1- Mobile shopping 

Mobile phones allow people to shop online from anywhere at any time. Then, it is no surprise that online shopping through cell phones is through the roof! In 2021, Statista stated that mobile eCommerce sales gained $3.5 trillion and made up almost three-quarters (72.9%) of eCommerce sales. Young generations, such as Millennials and Generation Z, are the ones that use mobile phones the most because they grew up using computers and cell phones.   

2- Target young consumers 

We already mentioned that Millennials and Generation Z are strong forces in mobile eCommerce. But that is happening in eCommerce in general. Kinsta discovered that Millennials (67%) and Generation Z (56%) prefer to shop online over other generations. As a store owner, you must target those groups if you want to increase sales and revenues. One of the ways to increase engagement with this group is through social media and YouTube ads.   

3- Use dynamic pricing 

Dynamic pricing has been around in many industries, like airlines and hotels. But lately, this pricing strategy is getting more love in eCommerce. Dynamic pricing involves constantly modifying your products’ prices based on demand, supply, and other factors. With dynamic pricing, you can take advantage of market opportunities and increase your sales and income. 

4- Monitoring your competitors 

Knowing what your competitors are doing allows you to keep up with the latest trends and prices. When you follow their prices, you can use that information to create new pricing strategies or to improve the ones you already have active. Knowing that can create market opportunities that your business can exploit in their favor. Also, follow their social media to learn about their new products and releases.   

Conclusion 

Knowing these eCommerce trends will help you understand your clients more and obtain new ones. It's never too late to jump in, learn something new, and evaluate if it's right for your business. Use these trends to your favor and optimize your store to increase sales and revenue in the last month of 2022 to end on a happy note! 

PriceTweakers offers your business the best solution for dynamic pricing and price monitoring. You can create more than 30 pricing strategies and add conditions that increase your sales and profits. We also automatically monitor your competitors 24/7, saving you time and allowing you to focus on other tasks. Contact us for more information. 

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