Lovely couple shopping online

E-Commerce & Online Payment Trends and Predictions – 2022

Shopping and paying online is commonplace today. Most of us have no problem ordering from well-known vendors and suppliers. We do not give it a second thought to place an order on retail giant, Amazon. We have become spoiled by the fact that we can buy from anywhere in the world and what we order will be delivered to our door. Because we want that availability and service, most of us have set-up various ways to pay for our online shopping. Credit cards, debit cards, e-wallets, and services like Paypal are among the popular choices.


We do not just buy products online. We have learned to use the internet to purchase entertainment and to splurge on luxuries that we once had to buy in person. We can buy video games, pay for mystery levels, and buy specialty items without visiting a gaming store. We can buy lottery tickets at Lottoland from our laptop or phone app. We can have virtual appointments with cosmetic experts who will match products for our specific skin and features. All of this from online, with the use of e-commerce payment choices.

Main Photo credit : Andrea Piacquadio


Early Statistics

While e-commerce is “normal” to us now, it is still in its infancy. Amazon has been around since the mid-1990s, but by 2010 it only accounted for 6% of retail sales in the United Sales.

In the UK, in November of 2006, e-commerce claimed 2.8% of the retail sales. However, the people of the UK are sophisticated and well-versed in financial growth. By February 2020 the UK number had grown to 18.9% and by April of the same year, the number had grown to 30.7% By May of 2020, the United States could claim 30.8%.


Photo credit: Nataliya Vaitkevich


Merchants are continuing to optimize their online shops for mobile

According to reports published by J. P. Morgan, mobile commerce expects to see a growth rate of more than twice that of overall e-commerce in the coming year. The set rate is 13.6%.

Major grocery brands such as Ocado and Morrisons have integrated voice commerce options into their sites. The voice commerce options include Amazon’s Alexa and Google. This could give Amazon and Google more influence over which brands are favoured in search engines.


Photo credit: cottonbro


Mobile device and In-App Purchases

The growth of confidence in shopping with our mobile and in-app purchases is evident in the facts listed below. The fact that citizens of the UK are sophisticated and educated people makes it easy for them to rise to the top of the mobile-purchase movement.

  • Smartphones are the most popular way to access the internet for shoppers under the age of 65-years old. As smartphones and apps become more advanced, more people will turn to them and away from their computers. The ease of using an app will be too tempting to pass up.
  • The UK is a mobile-first shopping arena: six out of every 10 online transactions are carried out on a mobile device. Companies selling their products online from their website are included in this data.
  • Mobile apps are becoming more popular. People have gotten used to them, and are not so hesitant to take advantage of the “right now” service. With technology sending immediate order verification, and our ability to take a screen-shot of anything we do, there is little fear of automated service. They take 45 percent of completed mobile transactions.
  • Shoppers are using chatbots powered by artificial intelligence for customer service queries, both in-app, on desktop sites. and when shopping via social media.


Top overseas e-commerce shopping destinations

Cross-border markets take a big slice of the overall e-commerce market. In 2020, nearly 19% of e-commerce sales came from countries other than those in the UK. This suggests that customers are comfortable doing business with countries that have a reputation for having good shipping practices, and quality products. Further, research suggests, customers are willing to try new (non-local) brands. This is a sign of maturity in the global economy, but not necessarily a good one for those who have worked hard to create a quality brand.

The countries that account for the most over the border commerce are:

  • China – 45%
  • United States – 21%
  • Germany – 6%


The company to watch – PayPal

PayPal (NASDAQ: PYPL) is growing faster than anyone predicted. In 2020 PayPal added more products and services than they had in any previous year. They signed on 72 million new customers. PayPal introduced new products like cryptocurrency investing, QR codes, and the option to buy now and pay later.

Tools investors are watching

The tools PayPal is working on and expect to be fully functional in 2021 are described as critical to the future of e-commerce. They put PayPay firmly on the steps of the financial marketing steps of the nation. They include:

  • Spending cryptocurrency
  • Enhanced bill pay
  • Budget and savings tools
  • Honey’s shopping tools

When it comes to shopping, saving, and payment options, the world is a new and interesting place. Now is the time to research these choices and invest. There is no doubt that while 2021 got off to a slower start than predicted (for obvious reasons), 2022 and 2023 will see substantial growth. The future is bright, so take your place. Now is the time to make your move.















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