The 2022 Fashion Landscape – How to Always Be in Season
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People’s appetite for fashion is back with a vengeance after a couple of years of non-stop activewear. In the first quarter of 2022, our research found that fashion and apparel spending increased by 19 percent gross merchandise value (GMV) compared to Q1 2021, indicating that fashion and apparel are thriving.
However, as retailers look to capitalise on this post-pandemic boom, there are some key e-commerce trends and opportunities to keep front of mind.
Whether shoppers are buying the latest fashion trends or luxury pieces, the demand for fashion touches every customer segment. It’s this prevalence that keeps the industry in step with ecommerce trends with its broad appeal.
The BigCommerce PayPal report, Vertical Thinking, provides key insights, statistics and dedicated research into what your brand may be lacking against the competition in 2022.
What’s Included in the Report?
- Cross-Border Selling and International Expansion
- Enhancing CX/UX
- Alternative Payment Methods (APMs)
- Purchase Incentives
Key Insights From Vertical Thinking Include:
- Overall, e-commerce retail in APAC saw major growth QoQ in Q1 2022
- 66 percent of Australian merchants have seen increased sales as a result of offering BNPL options
- 29.7 percent of respondents said they have abandoned an online payment method because their preferred payment method was not provided
- 69 percent of online fashion shoppers have purchased overseas in the last six months
See below for a brief overview of what this expansive report contains, or download the full report here to find out how you can implement trends and navigate the challenges that come with fashion ecommerce 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 in e-commerce technology and social commerce, selling globally is easier than ever before, but it still comes with the below considerations.
How Can You Sell Internationally?
- Pre-integrate payment solutions
- Update functionality, such as 24/7 chat
- Create a multi-storefront (MSF)/omnichannel functionality to cater to every region
- Localise design and copy
- Create secure checkouts to instil confidence
Headless
What do people see first when visiting your online store? Your branding, of course! Branding is almost just as important as the product. It’s important to authentically personalise your ecommerce store to convey exactly what you want to represent in the space.
A headless store offers the freedom of creativity on the front-end to better showcase a retailer’s brand story without compromising on the actual purchase experience.
Put simply, a headless store is the decoupling of the back-end and the front-end, giving retailers the flexibility to use a robust back-end system like BigCommerce while integrating their own front-end.
Read our report for an in-depth look at headless stores and how you can implement this technology into your own e-commerce store.
Offering Alternative Payment Methods (APMs)
To truly be a global brand, providing different currencies and payment methods is crucial to reach a global audience and improve international conversions. APMs range from digital wallets available around the world, such as Apple Pay and Google Payto region-specific payment options like POLi in Australia. APMs have become popular because they provide a direct, hassle-free option for shoppers who prefer not to use traditional forms of online payment. For example, digital wallets and mobile payment options streamline the checkout process for shoppers, or allow them to bypass checkout entirely by auto-filling their credentials and billing information.
By enabling APMs alongside your existing payment gateways, you enhance the variety of options and ease of use of your store’s customer experience.
What Are Some Alternative Payment Methods?
- BNPL
- PayPal
- Multi-currencies
BigCommerce and PayPal are here to support
Are you exploring every avenue to enhance your fashion ecommerce 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 into your fashion ecommerce store to drive traffic and increase sales.
For more information, read Vertical Thinking, where PayPal and BigCommerce have partnered together to share the results of their respective research.
Download here for free and start increasing traffic and sales to your fashion e-commerce store.
The e-commerce landscape is changing. With a Power Retail Switched On membership, you get access to current e-commerce revenue and forecasting, traffic levels, average conversion rate, payment preferences and more!
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