Back to Town Square

The Future of Commerce Reports: 2022 Edition

12.08.2021

Download the top commerce stats for 2022

Uncover the biggest commerce trends across the retail, restaurant, and beauty industries that are shaping 2022.

Get the stats

Your storefront is anywhere. Omnichannel is the future of commerce, and sellers who are optimizing their businesses by doing more of what they love is what’s making that reality possible. Our 2022 Future of Commerce reports reveal the latest trends and cutting-edge tools that will help you make smart investments in your business — along with inspiration and tactics to set you up for success.

To unearth the top trends, we worked with Wakefield Research to survey 1,500 restaurateurs, retailers, and salon and spa owners, along with 1,000 consumers across the U.S. We also spoke to successful Square sellers and leading industry experts to get exclusive tips on how business owners can embrace innovative solutions and unlock new revenue streams.

Explore the biggest commerce trends at a glance by downloading our stats book, and dive deeper into the restaurant, retail, and beauty spaces with our collection of industry-specific reports. Step inside — the future is waiting for you.

What is the future of commerce?

The future of commerce is inside every interaction your customers have with you — and every transaction they make. Commerce is the exchange of physical products and services, and it’s a world that’s evolving with every purchase made.

It’s mobile and social, online and offline, and the magic that happens when each part seamlessly connects.

  • Customers want to interact with brands and buy wherever it’s most convenient, whether that’s through a text message, QR code, an ordering app, or a contactless payment. In fact, 29% of consumers prefer contactless payments like mobile wallets, contactless kiosks, or QR code payments.
  • Dining, shopping, redeeming a service, and then being able to pay at each point is the next stage of commerce. And for many trailblazing businesses, it’s already here. A significant 94% of restaurants surveyed currently offer contactless payment options.
  • Businesses are turning to solutions that bring these new ways of selling within reach and make it just as seamless to manage as it is to draw customers inside.

Commerce is the heart of your business and, in 2022, omnichannel technology is making it more connected and efficient. If the topic feels foreign, you’re not alone — about one-third of retailers feel like they don’t know enough about their omnichannel options. But by adopting an omnichannel strategy, you can meet your customers wherever they are while tapping into new revenue streams.

59%

of respondents made purchases directly from social media in the last month.

84%

of respondents say measures to make shopping more contactless have made it more enjoyable.

18%

of customers say they’re interested in shopping via text or chat.

Is social commerce the future?

Social commerce, which blends social media with eCommerce, has become extremely popular over the last year. According to our research, 74% of retailers are already selling through social media.

Consumers are increasingly turning to social shopping options on platforms like TikTok, Facebook, Pinterest, Instagram, and Snapchat to discover products and services, engage with brands, and make purchases — and businesses are showing up to sell directly to their fans. In fact, 27% of consumers say they are interested in making purchases directly on social media when the option is offered.

As shoppers turn to social media, platforms like TikTok and Facebook become even more important avenues for business owners to build relationships and boost sales. Social selling unlocks the ability for businesses across industries to connect with customers, exactly where they engage with the brands they love.

How will mobile commerce impact 2022?

Mobile experiences are a central part of the next era of commerce, and mobile commerce, or mCommerce, is at the forefront. The term refers to customers using handheld devices, like cell phones and tablets, to transact online. Whether it’s offering contactless payments, QR code ordering, or sending payment links over text, there are infinite ways businesses are connecting with customers on mobile and helping them pay without requiring them to leave their devices.

From mCommerce to eCommerce, businesses are carving out new revenue streams and trying out new tools to enable efficiencies at a rapid pace. The businesses that are taking these bold risks are redefining what it means to grow a successful business in 2022 — and inspiring other savvy entrepreneurs along the way.

This is just a glimpse into how businesses across industries are shaping the future of commerce. Get a fuller picture of how the commerce world is evolving in 2022 by downloading the stats book below.

Access the latest future of commerce stats, all in one place.

Download our Future of Commerce stats book to see the biggest retail, restaurant, and beauty trends for 2022 at a glance.

Phone

*Please visit Square’s Privacy Policy for further information.

Back to top
Share
Get Started