Shopify recently released a fascinating report on The Future of Commerce in 2022, covering Ecommerce, Retail, and Shipping & Logistics.
Here are our biggest takeaways for ecommerce:
- Rising acquisition costs are making retention strategies top priority
- The transition away from third-party cookies is causing brands to reevaluate personalization strategies
- The social platform landscape is being disrupted by Tik Tok and creating new opportunities
That is the high-level summary, but we think three numbers in the report contain the most important lessons for brands. These are:
80%
The number of marketers expected to abandon personalization efforts by 2025.
TAG takeaway: The years-long unfilled promise of personalization is coming home to roost.
54%
The share of consumers expected to look at a product online and buy in-store in 2022.
TAG takeaway: Retail is the new ecommerce.
20%
The estimated drop in the advertising reach of Instagram in Europe is due to privacy laws.
TAG takeaway: When it comes to privacy laws, they start in Europe and head to the US.
Download Shopify’s complete report and explore their findings on their killer microsite. It’s a must-read for any brand with an ecommerce channel.