People’s appetite for fashion is back with a vengeance after years of non-stop active wear. In the first quarter of 2022, our research found that fashion and apparel spending grew by 19 percent of gross merchandise value (GMV) compared to the first quarter of 2021, indicating that fashion and apparel are booming.
However, as retailers look to capitalize on this post-pandemic boom, there are some key e-commerce trends and opportunities to keep in mind.
Whether shoppers buy the latest fashion trends or luxury pieces, the demand for fashion touches every customer segment. It is this prevalence that keeps the industry in step with e-commerce trends with its broad appeal.
BigCommerce PayPal Report, vertical thinking, provides key insights, statistics and dedicated research on what your brand may be lacking against the competition in 2022.
What is included in the report?
- Cross-border sales and international expansion
- Improving CX/UX
- Alternative Payment Methods (APM)
- Shopping incentives
Key insights from vertical thinking include:
- Overall, APAC e-commerce retail saw strong QoQ growth in Q1 2022
- 66 percent of Australian retailers have seen increased sales as a result of offering BNPL options
- 29.7 percent of respondents said they abandoned an online payment method because their preferred payment method was not provided
- 69 percent of online fashion shoppers have shopped overseas in the past six months
See below for a brief summary of what this extensive report contains, or download the full report here to find out how you can implement the trends and navigate the challenges that come with fashion e-commerce in 2022.
International Expansion
Fashion has always been a global market, but it can be daunting for Australian brands looking to sell overseas. With the rise of e-commerce and social commerce technology, selling globally is easier than ever before, but it still comes with the following considerations.
How can you sell internationally?
- Pre-integrate payment solutions
- Update functionality, such as 24/7 chat
- Create a multi-store functionality (MSF) / multi-channel to cater to each region
- Locate the design and copy
- Create safe havens to inspire trust
Headless
What do people see first when they visit your online store? Your branding, of course! Branding is almost as important as the product. It’s important to authentically customize your eCommerce store to convey exactly what you want to represent in the space.
A headless store offers the freedom of front-end creativity to better showcase a retailer’s brand story without compromising the actual shopping experience.
Simply put, a headless store is the decoupling of the back-end and front-end, giving retailers the flexibility to use a powerful back-end system like BigCommerce while integrating their front-end.
Read our report for an in-depth look at headless stores and how you can implement this technology in your eCommerce store.
Offering Alternative Payment Methods (APM)
To be a truly global brand, offering different currencies and payment methods is essential to reach a global audience and improve international conversions. APMs range from digital wallets available worldwide such as Apple Pay AND Google Pay, for region-specific payment options such as POLI in Australia. APMs have become popular because they offer a straightforward and hassle-free option for shoppers who prefer not to use traditional forms of online payments. For example, digital wallets and mobile payment options simplify the checkout process for shoppers, or allow them to bypass checkout entirely by automatically filling in their credentials and billing information.
By enabling APMs alongside existing payment gateways, you improve the variety of options and ease of use of your store’s customer experience.
What are some alternative payment methods?
- BNPL
- PayPal
- Multi-currency
BigCommerce and PayPal are here to support
Are you exploring every avenue to improve your fashion e-commerce brand in 2022? BigCommerce and PayPal did the research on how you can increase sales so you don’t have to!
Backed by data and in-depth research, Vertical thinking explores four new trends you can implement in your fashion e-commerce store to drive traffic and increase sales.
For more information, read on vertical thinking, where PayPal and BigCommerce have partnered together to share their respective search results.
Download here for free and start increasing traffic and sales to your fashion e-commerce store.
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