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The demands and needs of consumers are constantly changing, driving retailers to modify their products and business plans to stay updated with the biggest sales events of the year: Black Friday and Cyber Monday. Not all stores, however, will equitably profit from the BFCM 2022 trends.
Here are 5 BFCM 2022 checklist of the most notable trends that Shopify businesses should be aware of to turbo boost holiday selling this year.
BFCM 2022 Trends #1: Shoppers are getting ahead of the holiday rush by shopping
The holiday shopping season has been flattening and lengthening over the past few years, leading to longer periods of more steady buying and fewer noticeable demand peaks.
(Source: Insider Intelligence)
According to Think with Google, in 2021, 50% of U.S. consumers intended to start their holiday shopping earlier to avoid running out of stock; meanwhile 40% considered shopping much earlier for other major shopping events. 31% had already begun their Christmas shopping as of June 2021, and 37% of those who had bought during the previous holiday season regretted not starting sooner.
Another factor that has an impact on early holiday shopping decisions is the USA 2022 inflation. According to the BLS, it was 8.6% overall for May 2022. Under the effect of inflation, the overall retail sales in the United States will increase by around 3.5% to about $1.3 billion this holiday season.
As the customers tend to prepare for the holiday earlier, following the BFCM 2022 Trends, every Shopify stores also have to be ready for the holiday shopping from months before.
A quick checklist to prepare your Shopify stores for the early holiday shoppers
There are several things you need to prep your Shopify store for holiday season:
- Update stock inventories to avoid stocks out
- Prepare different promotional bundles, take advantage of up-selling and cross-selling strategy through all pages
- Freshen up product filters for holiday-related specifications or special selling policy
- Set a festive mood for holiday shopping on your website
- Prepare overall website’s speed for a smooth shopping journey
BFCM 2022 Trends #2: Mobile shopping is stepping into the spotlight
M-commerce, or mobile commerce, refers to online purchasing done using a mobile device, usually a smartphone. And the growth of branded shopping applications, 5G wireless, quicker e-commerce platforms, and seamless social purchasing have all boosted mobile commerce, making it one of the most prevailing BFCM 2022 trends.
With 71% more online sales than BFCM in 2021, mobile shopping from merchants on the Shopify platform reached a turning point.
Prepare your Shopify stores for holiday mobile shopping
Obviously, you need a mobile-friendly website. However, having a mobile-friendly eCommerce website is no longer sufficient to follow BFCM 2022 trends.
You have to develop your mobile commerce strategy, and start by focusing on the user experience. Some key aspects that you must consider are:
- Loading speed: optimizing photos and videos by striking a balance between the image quality and file size in order to reduce loading times on mobile.
- Mobile checkout: integrate various payment channels and make use of digital wallets' advantages.
- Product page & listing optimization: ensure that only the most relevant product details, product suggestions, and other mobile UX conventions are displayed.
BFCM 2022 Trends #3: “Buy Now Pay Later” is one of the BFCM 2022 Trends
Buy now, pay later (BNPL), which was formerly a specialized payment technique, is now one of the most popular payment options. According to the 2022 Commerce and Payments Trends Report's research and interviews, the widespread use of BNPL must be mentioned when discussing the BFCM 2022 trends.
Additionally, certain sponsors and financial institutions now permit cardholders to pay for particular purchases in installments, enabling customers to better manage their cash flow and maybe avoid late penalties. This feature is also known as BNPL.
According to Jupiter Research, 44% of Gen Z and 37% of millennials will make a BNPL payment in 2022, compared to 23% of Gen X and 9.4% of baby boomers. All demographics are drawn to this kind of payment, but Gen Z and millennials are particularly interested.
Statistic from Juniper Research
How to catch up with this BFCM 2022 trend?
As consumers are embracing the ease of this payment method, BNPL should be an available payment method at checkout at your Shopify stores. And by allowing BNPL, you can reduce abandoned carts on your Shopify store too.
There are many BNPL solutions on Shopify that you can test and choose for your store. Shopify has a native solution called Shop Pay Installments. You can collect payments for orders up to $3,000. Note that your store needs to base in the US, and the only currency accepted is USD.
BFCM 2022 Trends #4: The customers focus on product longevity than upfront costs
According to Mulberry’s retail consumer research, 81% of customers think they are more inclined to make another purchase from a firm after having a good experience with a warranty claim.
And, if a brand offers product protection plans, 47% of consumers would be more inclined to pick it. This behavior particularly applies to expensive purchases.
Add product protection plans to your Shopify holiday selling
Considering the increasing risk of defective products during the high season of holiday shipping, protection plans or warranties can provide a range of advantages depending on the kind of product, from technical support and reduced repair services to product replacement and maintenance plans.
Extending the manufacturer's warranty (covering electrical failures and flaws, for example), and accidental damage coverages are the two most popular forms of the protection plan for consumer products.
Consider using Shopify warranties and insurance apps to strengthen your relationship with customers.
BFCM 2022 Trends #5: Virtual shopping is getting more attention
Virtual Reality (VR) is an immersive experience that fully excludes the physical "real" world and takes place in a computer-generated environment. With virtual shopping, customers may use VR to swiftly personalize products they are interested in and view these changes in real time.
Investing in VR has become one of the BFCM 2022 trends as companies are using virtual reality as a method to enhance the online experience. The main aim is to let customers feel as though they are trying before they buy.
A product may be handled, visualized in the customer's house, and physically felt to obtain a sense of the materials and color when purchased in person.
Optimize your Shopify store for virtual shopping
Remember that conventional retailers draw customers by presenting their merchandise in an appealing setting.
If your business is retail, restaurant, architecture, automotive, or even healthcare, VR application is a great method to design an immersive, digitally focused experience that encourages customer involvement and boosts your sales effectively.
Learn more about the growing popularity of AR technologies and virtual try-on solutions in different eCommerce industries:
Which Online Retail Businesses Should Apply Virtual Try-on Features?
Keep up with BFCM 2022 trends and Boost your Shopify holiday selling
Regardless of where you are in your business path, there are always new milestones to achieve. With BFCM 2022 trends explained and our suggested ideas, we hope you have a good grasp of the opportunities and challenges this BFCM 2022.
Remember, always gather analytics and customer insights before deciding to follow any on-going eCommerce trend.
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