The 4 Biggest Commerce Trends That Defined 2022

Adweek’s most popular Commerce stories of 2022 run the gamut from Demi Moore partnering with a DTC swimwear brand to Nike dropping Air Max sneakers via drone, Guitar Center updating its logo, JCPenney introducing a new mascot, and Amazon releasing its latest Super Bowl ad with a psychic Alexa (alongside Scarlett Johansson and Colin Jost). The trends that defined retail and ecommerce more broadly were less varied. In fact, three of the four are making repeat appearances—although the reasons they are on the list have evolved. Here’s a closer look at the four biggest commerce trends of 2022: 3 Tactics to Turn Curious Shoppers Into Customers Retail media networks remain hot Retail media networks return for their second consecutive appearance on our list of annual commerce trends. In 2022, we saw the likes of Michaels, Uber, Ulta and Sam’s Club launch and/or revamp their respective networks. But while 2020 and 2021 were much more about a proliferation of retail media networks and self-service options for advertisers, 2022 saw retail media expand into categories like off-site advertising and in-store display ads, noted Brad Jashinsky, director analyst at research firm Gartner. Meanwhile, as the 2024 deadline to sunset cookies moves closer, retailers’ first-party data becomes—at least in theory—more valuable. According to Melissa Burdick, president of ecommerce platform Pacvue, retail media networks are “relatively shielded from privacy-based limitations [and the] degradation of the cookie, and everyone really focusing on their first-party data has helped [these networks expand].” In fact, Jeff Malmad, global head of commerce at media agency network Mindshare, pointed to figures from media company GroupM that 11% of all global advertising is now allocated toward retail media. This is projected to grow by about 60% by 2027, which he noted “[exceeds] the expected growth for all digital advertising.” Zach Weinberg, vp of ecommerce at performance marketing firm Reprise Digital, added, “Brands and their agency partners are looking to those retail media networks as a way to finally leverage purchase data signals as part of their overall targeting and audience strategy.” The Speed of Culture Podcast: How Holiday Shopping Trends Impact 2023 Retail Spending Inflation drives consumer interest in deals Economic uncertainty—and its aftermath—is the only newcomer to the list. That’s because consumers have changed what they are buying, and how much they are spending. “When you searched ‘Black Friday deals’ on Amazon last year, the top-clicked item was a $200 laptop,” Burdick said. “When you did the same search this year, the top-clicked item was $6 leggings.” That bodes well for fast fashion, as well as resale platforms like Poshmark and The RealReal. “People are still looking for luxury items, but they're looking for them on deals,” Burdick added. Jashinsky agreed promotions have been big, especially in the last few months of 2022. “We're talking about retailers getting rid of excess inventory and just trying to help consumers find value, especially with the economic headwinds right now,” he said. “In the second half of this year in particular, we've seen promotions return across categories and across retailers and get significantly more aggressive, too.” That’s in stark contrast to 2021, when supply chain bottlenecks prompted calls to shop early for holiday gifts. “This year, everyone's waiting for deals,” Burdick added. Infographic: How People Want to Shop This Holiday Season Live shopping is a proverbial tortoise Livestreaming (and social commerce) is the second returning trend from 2021. And while it has been perhaps slower to take off than anticipated—especially given the level of adoption overseas—it is more slowly (but surely) gaining traction in the U.S. “We have seen multiple clients start testing on the live commerce side,” Weinberg said. “And I think that has picked up with a little bit more intensity.” In particular, he pointed to Amazon’s livestream platform, which he noted was “obviously playing a bigger role when it came to both Prime Days this year.” Does Livestream Shopping Deliver? See the Results 23andMe Got on Prime Day BNPL grows as its perception changes The third and final repeat trend is buy now pay later (BNPL). But the story this year is not simply about growth. While splitting up major purchases into several payments was originally promoted as a financially smarter alternative to credit cards—and the number of transactions admittedly continues to grow—BNPL is perhaps not as ideal as initially promised. “Cash-strapped consumers still rely on this service, but it is becoming clearer to many who have signed up that you don’t accrue interest if you pay on time and follow the rules,” Malmad said. “That said, if consumers don’t read, or abide by, the fine print, they can incur anything from late fees to interest on the borrowed money higher than what they would have incurred on a regular card.” This, he added, has resulted in “changing conversations” around the service. "If you use BNPL, you’re not building credit—whereas if you pay your credit cards on time you are building credit. So consumers are beginning to learn that, and that’s important," he added.

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The 4 Trends That Defined Commerce in 2022

Retail media was king this year

Lisa Lacy

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