Good Friday Morning and cheers to a bright 2022! ✨

As we ring in the new year, analysts are already predicting big things for the retail and e-commerce industries. So what trends can we expect to see over the next twelve months? Here are a few of the most noteworthy:

• The total value of worldwide purchases on social media platforms is expected to reach $1.2 trillion by 2025, according to a new Accenture study.
• Nike is chosen as "Best Idea" for 2022 by the Guggenheim, which credits their metaverse play.
• Walmart expands its in-home delivery service to 30 million homes, making the possibility of having groceries delivered straight to your fridge even more convenient.

Top Retail and E-commerce Stories

#Shopping: The Social Media Shopping Revolution is Underway

#Tiktok made me buy this! According to a new study by Accenture, the worldwide social commerce industry will increase three times as quickly as conventional e-commerce over the next decade, reaching $1.2 trillion in 2025. Gen Z and Millennial social media users are expected to drive growth, accounting for 62% of global social commerce spending by 2025.

According to Accenture's survey, "Why Shopping's Set for a Social Revolution," social commerce refers to the whole shopping experience, from product discovery to check-out, being conducted on a social media platform. More than two-thirds (65%) of social media users in the study said they had made a social commerce transaction in the previous year, which suggests that nearly 2 billion people globally buy via social media.

Minecraft, Roblox...and Nikeland? Nike Dominates Market with Innovation in the New Year

What do Roblox and Nike have in common? Nothing! BUT —Nike has recently announced its partnership with the gaming giant, Roblox to create, you got it, Nikeland!

The virtual world will be home to Nike facilities, fields, and stadiums where players can compete in a variety of mini-games, including tag and dodgeball. It's also based on the real-life Nike headquarters, and the company eventually plans to integrate in-play moments that mimic global sporting events. A soccer event during the World Cup or a flag football match during the Super Bowl are two possible in-game developments.

With Nike's venture into the metaverse, Guggenheim awarded the company the "Best Idea" for 2022. The analysts at Guggenheim are most bullish on Nike's ability to monetize its ecosystem as well as scale its business and influence online.

Walmart at Your...doorstep Fridge? Walmart Expands InHome Grocery Delivery to 30 Million Homes

Amazon, watch out. Walmart's coming for you!  By the end of this year, Walmart is making a big bet on customers' desires for increased convenience, announcing that its InHome delivery service will expand availability from 6 million to 30 million households, including in major cities such as Los Angeles and Chicago.

How it works is the delivery driver attaches a wearable camera to begin the process. Every shipment may be watched live or stored on the Walmart app, and it can even be viewed as a video. The delivery driver then uses a smart lock to enter the property and carries the order inside in plastic bins and places items in the refrigerator or on the counter, as requested, while wearing protective coverings over their shoes. All surfaces touched by the driver are then wiped clean and sanitized before leaving. 

A LITTLE MORE

• 3 Retail Trends E-commerce Brands Can Expect in 2022
• 8 Ways Shopping Will Evolve in 2022
• Amazon Slips to 4th Place in Global Shopping App Installs😱
  
• Shopify vs. Shopify Plus: What's the Difference? 

FUN FACT

There is a 32% increase in bounce rate probability if a mobile page's load time increases from 1 second to 3 seconds.

QUICK TIP

Try this. The checkout is the most crucial part of a customer's visit. You don't want consumers to overthink their purchases. Make sure that your store has a quick and simple checkout process in place with less clutter and a variety of payment options.

TWEET TWEET

“Only those who will risk going too far can possibly find out how far one can go.”

– T.S. Eliot

OLDIE BUT A GOODIE

Here's a throwback photo of Google when it first launched in 1998.