Seven major institutions reveal cross-border business opportunities in 2022, with 5.69 trillion US dollars waiting for sellers to tap!

In a few days, 2021 will be over. What will the global e-commerce economy look like next year ? Which market is favored? What are the latest product selection trends? The editor has compiled the views of some institutions for your reference.

Seize the $5.69 trillion business opportunity in 2022

Although cross-border transactions are not easy this year, it has to be said that e-commerce is still the current development trend.

Statista , a global comprehensive data database, counted the number of online shoppers worldwide from 2014 to 2017 and found that the number of online shoppers worldwide has been rising year by year, from 1.32 billion to 1.66 billion. Statista predicts that more than 2.14 billion people will buy goods and services online in 2021. In this way, the number of online shoppers worldwide will increase further in 2022.

The direct effect of the increase in the number of online shoppers is the growth of e-retail sales. Statista predicts that the e-commerce market will be worth $4.93 trillion in 2021, and global online sales will account for 22% of total retail sales. In 2022, global e-retail sales will rise to $5.69 trillion. Nasdaq predicts that by 2040, 95% of consumers may choose to shop online.

Not only that, people have become more dependent on online shopping. The 2021-2022 Cross-border Export E-commerce Growth White Paper pointed out that the global average online consumption time has increased by 47%.

In addition, mobile phones have gradually become an important traffic entrance. According to Statista, there are currently 6.378 billion smartphone users worldwide, which means that 80.63% of the world's population owns a smartphone. This figure has increased significantly compared to 2016, when there were only 3.668 billion users, accounting for 49.4% of the world's population that year.

According to eMarketer, in the United States, 44.4% of online sales were completed through mobile phones this year , an increase of 10.6% from Black Friday 2020. Although this is less than half of the total, 62.2% of consumers actually browsed products on their mobile phones, and some chose to complete the purchase on the computer.

In addition, social e-commerce is also attracting more and more attention. According to a survey by eMarketer, 46.4% of Chinese netizens have shopped through social platforms at least once in a year. The second largest country is the United States, where 35.9% of American netizens shop through social platforms. As for other countries, such as Australia, Canada, Russia, Brazil, the United Kingdom, and France, the proportion of shoppers on social platforms has also reached more than 20%.

In the United States, which sellers are more concerned about, eMarketer predicts that social e-commerce sales in the United States will grow by 25% in 2022 to $45.74 billion. Consumers ( 72%) usually click on shopping links on social media to enter the corresponding website to make purchases. Snapchat, TikTok and Instagram are the favorite social networks of Generation Z. It is worth noting that many social media are also building their own e-commerce ecosystems. In the future, internal purchases on social platforms are also expected to become a popular trend.

And as we enter 2022, with the increase in vaccination rates and the alleviation of the epidemic, people will further return to their pre-epidemic lives. The latest consumer trend report released by Jungle Scout shows that 55% of American consumers said they look forward to "treating themselves well" in 2022. This means that the leisure and entertainment industry may usher in a wave of revenge shopping. Similar situations should occur in other countries.

Emerging sites have many business opportunities

In order to continue to meet the sales growth in 2022, sellers should understand popular sites and "occupy spots" in advance in their layout for next year to better gain opportunities.

The e-commerce market in the United States has been on the rise. According to Adobe 's forecast, by 2022, the US e-commerce transaction volume will exceed 100 billion US dollars for the first time; and the value of the European e-commerce market is expected to reach 570 billion US dollars by 2025.

In addition to these mature sites, there are also some emerging markets that sellers can look forward to in 2022.

middle East

According to local media reports in Dubai, the e-commerce market in the Middle East, North Africa and South Asia is expected to reach US$148.5 billion by 2022. Among them, the average online spending of UAE consumers is US$1,648, the highest in the Middle East.

In recent years, international luxury platforms such as MyTheresa have become more well-known in the Middle East, indicating that local consumers are paying more attention to luxury goods. In addition, Middle Eastern consumers are willing to accept higher-priced goods, which makes it a good place for sellers to "dig for gold".

India

As the world's second largest Internet market, India has a large population base, which is one of the most favorable conditions for the development of e-commerce. According to the latest Indian survey, the size of India's e-commerce market will reach 150 billion US dollars in 2022. The report predicts that the Indian middle class will increase from 380 million in 2017 to 540 million in 2022, and the number of online users will reach 850 million.

Among them, Flipkart and Amazon are the most popular e-commerce platforms among local consumers, and electronic technology products have the best sales.

Australia

Australia has a population of approximately 24 million, of which Internet users account for over 90%. More than 80% of consumers have tried cross-border consumption, far exceeding the global average of 51.2%.

Amazon is one of the e-commerce platforms commonly used by Australian consumers. Electronic products, household groceries and fashion products are the fastest growing categories of online shopping, and beauty products and outdoor toys are also the main consumer products for Australian online shopping.

Singapore

The epidemic has brought permanent large-scale digitalization to Singapore, and 90% of consumers will continue to shop online after the epidemic. This has also brought continuous development to Singapore's e-commerce market.

Amazon, Lazada, Shopee , etc. are the e-commerce platforms most commonly used by Singaporean consumers.

Many sellers have said before that although emerging sites are attractive, language is a big problem if they want to expand their business into multiple countries.

Many consumers on emerging sites are not familiar with the use of English. This also reminds sellers who want to enter these markets to pay attention to understanding local languages ​​and customs when planning, so as to better provide services to consumers.

These categories are worth paying attention to in 2022

In addition to identifying sites with great potential for e-commerce development, product selection is also one of the keys to creating high sales.

So what products are worth sellers' attention in 2022? The editor has compiled some popular products to provide some reference for sellers' product selection in the coming year.

Accessories

According to Pinterest's "2022 Global Trend Report", accessories will be in the spotlight next year, and novel accessories such as tooth ornaments and eye ornaments driven by Generation Z will become a trend.

Among them, the search volume of body diamonds on Pinterest increased by 145%, the search volume of toenail diamonds increased by 150%, and the search volume of crystal eye jewelry increased by 110%. According to the forecast, lip rings, cross earrings, and peculiar jewelry will be popular in Mexico next year.

Toy

According to Shopify 's forecast, toys are the number one popular product in 2022, with global order growth expected to increase by 1239% year-on-year, and Canada is one of the hot selling destinations.

Among them, dolls, handicrafts, building block sets, dolls, games and puzzles, infant toys, electronic toys for teenagers, plush toys, mini car models, adventure toys and outdoor sports toy cars are all niche products that sellers can focus on. However, when listing toys, sellers should pay attention to copyright issues to avoid infringement.

Tourism Products

After a long period of home quarantine, many people are ready to travel after the vaccine is widely available . Therefore, in 2022, consumers' demand for travel products such as suitcases, mobile power supplies, and portable toiletries sets will increase. While the epidemic is not over yet, products such as vaccine card protective covers and camping equipment are also necessities for tourists when they go out.

Yoga mats and home fitness equipment

The epidemic has caused more and more people to realize the importance of health. However, the ongoing epidemic has caused gyms to be closed, so many people have developed the habit of exercising at home, which has also driven the sales of such products.

According to the forecast of Research and Markets, the home fitness equipment market is expected to exceed US$96 billion in 2024. Among them, professional fitness clothing, running shoes, protective gear, treadmills, etc. are expected to have relatively high sales.

The cross-border e-commerce industry is booming. I hope this article can help sellers create a "miracle of explosive sales" next year . Looking forward to 2022, cross-border people, come on!

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