Statistics show global retail ecommerce sales will grow by 56% by 2026. Thus, ecommerce businesses must keep up with the latest trends to stay competitive.
Consequently, several exciting trends in 2023 have the potential to skyrocket sales for ecommerce businesses.
From AI-powered personalized shopping experiences to augmented reality and voice commerce, the future of ecommerce looks bright.
The question is: Which ecommerce trends should you monitor?
To help you figure things out, we will explore the top ten ecommerce trends to help your business stay ahead of the curve and boost sales this year.
Let’s begin.
Omnichannel Takeover
Being present on digital and physical platforms has become essential for ecommerce business success in 2023.
The buying journey is no longer a straightforward path from physical stores to checkout.
Instead, it can start with an Instagram ad, a TikTok influencer, or even a Pinterest pin. You may window shop in person or receive a product link from a friend.
Brands today should realize the value of this omnichannel presence.
Social media platforms now offer brand advertising and commerce opportunities, with Instagram and TikTok rolling out shopping features for their users.
Brands now choose channels according to which ones their customers use to create a full-circle brand experience.
If you haven’t implemented your omnichannel strategy, starting today is best.
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To automate your marketing and approval workflow, we suggest using an advanced collaboration, review, and approval platform, like GoVisually, to maximize productivity and quality.
Evolution of Social Commerce
Social commerce refers to integrating social media and ecommerce, allowing consumers to shop directly on social media platforms.
This integration has become increasingly popular as social media plays a central role in people’s daily lives.
With social commerce going full-scale, digital marketing tactics like influencer marketing, user-generated content, subscriptions, and loyalty programs are gaining momentum.
As more users turn to social media for shopping inspiration, platforms like Facebook, Instagram, and TikTok now proactively offer advanced shopping features and fully-fledged store sections as part of their profile.
Eventually, as an ecommerce brand, you will need to ensure you have a strong presence on the channels your target customers use.
Shopping Live Streams
Shopping live streams (or live shopping) will gain momentum in 2023.
Live shopping allows brands to showcase their products in real-time through video streams, allowing customers to ask questions and make purchases in real-time.
These live streams create an interactive and engaging shopping experience for customers, increasing their chances of purchasing.
It has already become a massive phenomenon in China, with some of the country’s top live streamers selling millions of dollars worth of products in a single broadcast.
In the US, Amazon launched Amazon Live, a live-streaming platform allowing brands to showcase their products and make real-time sales.
In-store Experiences Online
In-store vs. online has been a heated debate for over a decade.
However, things have changed with new technology, like immersive digital experiences.
The in-store and online commerce will continue to thrive together.
One of the biggest trends in 2023 is the rise of conversational marketing and high-tech in-store experiences.
Nike set the leading example for the new in-store experience.
Nike opened new experiential shopping locations called “Houses of Innovation” in New York and Shanghai.
These stores offer exclusive products, customization options, fitness tests, interactive product trials, personal shopping services, and more.
These unique in-store experiences build customer loyalty but are difficult to replicate online.
On the other hand, chatbots are crucial to brand communication because customers want more personalization.
People want a human agent to answer their questions and help them throughout their buyer journey.
The lines have blurred between digital and real-life experiences in 2023 regarding ecommerce.
AI-driven User Experience
AI-driven user experience in ecommerce refers to using artificial intelligence and machine learning to personalize the shopping experience for customers.
It involves analyzing customer data to create tailored recommendations, personalized product pages, and chatbots that can provide personalized customer service.
AI-driven user experience will have a significant ecommerce impact in 2023.
By providing customers with personalized shopping experiences, ecommerce businesses can enhance customer satisfaction and loyalty, increasing sales and revenue.
One brand that has successfully implemented an AI-driven user experience is Sephora, a beauty retailer that uses AI to provide personalized recommendations to customers.
Sephora’s Virtual Artist feature uses augmented reality that lets customers try makeup virtually, providing a personalized experience while eliminating the hassle of visiting a physical store.
Voice Commerce Boom
Voice commerce has been gaining popularity over the past few years. It will have an even more significant impact on ecommerce in 2023.
With the widespread adoption of voice assistants like Amazon’s Alexa, Google Home, and Apple’s Siri, more consumers are using voice commands to purchase online.
Brands are now creating voice-activated ordering systems.
For instance, Domino’s Pizza has launched a voice ordering system that allows customers to order their favorite pizza by simply saying, “Hey, Domino’s.”
The system integrates with the company’s loyalty program, making it easy for customers to earn rewards and redeem them for future purchases.
Besides voice ordering, brands also use voice assistants to provide personalized recommendations and assistance to customers.
For example, The North Face launched an Alexa skill that helps customers find the jacket that best fits their needs. Customers can receive tailored recommendations for jackets that fit their unique requirements by asking Alexa about their preferences and needs.
Payment Diversity
As the ecommerce industry continues to grow and evolve, businesses must keep up with the latest payment options available to consumers. Offering diverse payment options can attract new customers and improve customer satisfaction.
Payment diversity will be even more crucial for ecommerce businesses in 2023 since consumers increasingly prefer convenient and secure payment methods.
You must first understand your customers’ payment preferences and behavior to implement payment diversity for your business. It’s essential to offer your target audience the most popular payment methods.
Here are some examples to help you out.
Cryptocurrency
One emerging payment option that ecommerce businesses can consider is cryptocurrency payments.
With the growing acceptance of digital currencies, businesses that accept cryptocurrencies like Bitcoin and Ethereum can appeal to a new group of customers who prefer to pay with these alternative payment methods.
Businesses like Overstock and Expedia already accept Bitcoin as payment.
Apple Pay and Google Pay
Mobile payment systems like Apple Pay and Google Pay are more popular than ever.
These payment systems let customers pay for purchases using their mobile devices, making the checkout process faster and more convenient.
Ecommerce businesses implementing mobile payment options can improve customer experience and increase sales.
For example, fashion retailer H&M now offers Apple Pay as a payment option in their mobile app and online store.
Buy Now, Pay Later (BNPL)
Buy now, pay later (BNPL) options like Afterpay and Klarna are becoming increasingly popular because they offer customers the flexibility to pay in installments.
Ecommerce businesses offering BNPL options can increase sales by making it easier for customers to afford their products.
For instance, fashion retailer ASOS recently partnered with Klarna to provide customers within the UK, the US, and Australia with a BNPL option at checkout.
No Cookies for Data Privacy
Many customers worry about their privacy and how brands use their information.
It’s no secret that ecommerce sites collect user data, but not everyone knows how businesses use it.
People have mixed feelings about the benefits of big data and how it impacts personalized shopping. It’s a tricky balance between using data to create a better shopping experience and respecting customers’ privacy rights.
Many brands look toward zero-party data, with companies like Google ending their support for third-party cookies in 2023.
Customers welcome this initiative enthusiastically and encourage all companies to participate. Thus, we’ll likely see more updates on customer privacy in 2023.
Responsive Mobile Commerce
When it comes to the future of ecommerce, there’s one thing we know for sure: the devices people use to shop online will be more critical than ever.
When you think of mobile commerce, you can picture buying things with your phone.
But it’s so much more than that! Mobile commerce includes any shopping activity on your smartphone, whether browsing brands, engaging with mobile ads, chatting with sales reps, or anything in between.
Pleasing your mobile audience may be much easier using one of the best responsive ecommerce website builders.
These builders offer many themes that create a seamless shopping experience, regardless of your customers’ devices.
The good news is Mobile commerce is about to gain even more prominence.
With the rise of exciting new ecommerce trends like live stream shopping, augmented reality shopping, and in-app purchases, we predict that more and more people will be shopping on their phones in 2023.
Sustainability
Many consumers are now environmentally conscious. Thus, sustainability has become crucial for businesses across industries, including ecommerce.
Ecommerce businesses can reduce their carbon footprint by optimizing their supply chain and implementing sustainable practices.
One way ecommerce businesses can reduce their environmental impact is by optimizing their packaging.
In 2023, we can expect more companies to use eco-friendly materials, including biodegradable or recycled packaging.
Lush Cosmetics, a personal care and cosmetics brand, has already implemented a program called “Naked Packaging,” which encourages (and rewards) customers to purchase products without packaging.
More businesses will adopt sustainable shipping practices, including grouping multiple orders into one shipment to reduce their carbon footprint.
Using renewable energy for production is also a vital aspect of this trend.
Amazon has announced installing solar panels on its fulfillment centers’ roofs to generate renewable energy.
The Bottom Line
The future of ecommerce looks promising, and exciting trends on the horizon have the potential to skyrocket sales for businesses.
From sustainability and AI-powered personalized shopping experiences to voice commerce and connected TV advertising, ecommerce businesses must keep up with the latest trends and explore new channels to stay competitive.
By leveraging these trends and strategies, businesses can stay ahead of the curve and drive sales growth in 2023 and beyond.
