Let’s talk about the Top 3 Global E-commerce Trends For 2023. E-commerce is a rapidly growing industry. What about the trends within the trends? Continue reading to find out.
There’s no getting around it. E-commerce has firmly established itself alongside traditional retail and, in all honesty, is gradually encroaching on Retail’s space in the world of buying and selling.
In fact, according to eMarketer, global in-store sales and growth metrics are declining, with only 1.54% retail compounded growth rate projections over the next six years, while eCommerce is expected to grow by 14.09% over the same period. That’s 10.48 times more!
It’s no surprise that more businesses are incorporating eCommerce trends into their business plans or simply getting started in the eCommerce space.
From retail giants to small startups that have found their niche in eCommerce, we’ve compiled 2023 trends that you can use to boost your online sales.
The top 3 most significant eCommerce trends for 2023.
E-commerce Trend #1
Smooth Online Shopping Experience
Many online consumers still rely heavily on offline channels for groceries, clothing, medicines, and home improvement products. However, the COVID-19 lockdowns caused a significant shift in consumer behavior.
Customers had to rely on the internet to purchase almost everything, including groceries, clothing, electronics, healthcare, hygiene products, gym equipment, furniture and home improvement, auto parts, and other items.
At the same time, consumers are less patient than they have ever been. Due to the stress of staying at home, online shoppers expect faster checkouts, free shipping options, and more seamless online shopping experiences. These new shopping habits are unlikely to change dramatically once the offline market recovers from the pandemic. E-commerce is all about convenience, according to surveys, and more than 60% of respondents intend to stick with online brands they discovered during their pandemic online purchases. This is an excellent opportunity to increase customer brand loyalty and convert them into long-term buyers.
E-commerce Trend #2
The Importance Of Social Media Marketing
Social media marketing is using social media platforms to connect with customers and promote a product or service. It can be an effective way for businesses to reach a large number of people quickly and inexpensively.
TikTok, Instagram, Twitter, and Facebook are popular social media platforms. And many of these are heavily reliant on social eCommerce. E-marketers are following suit, adding social media tools to their toolkits.
Meta (formerly Facebook) emphasizes small businesses on its powerful platforms through the newly launched Shops feature. TikTok has partnered with eCommerce behemoth Shopify to provide its users with easy access to online shopping. TikTok Shops have been established to assist businesses and influencers in selling directly on the platform.
More than 70% of online buyers said they discovered useful products through social media ads. According to Statista, at least 30% of US buyers have reported making direct purchases through social media.
Remember to create compelling ads, particularly in short video format, to attract your Gen-Z customers on platforms like Instagram, Tiktok, and YouTube to drive future eCommerce sales growth.
E-commerce Trend #3
The Importance of Personalized Experiences
Personalized experiences are essential in eCommerce because the online shopping experience can often need more personal touch than customers might receive in a physical store. By providing personalized experiences, eCommerce companies can help create a more personalized and engaging shopping experience for their customers, leading to increased customer satisfaction and loyalty.
There are a few key ways that eCommerce companies can create personalized experiences for their customers:
Personalized product recommendations: By using data about a customer’s past purchases and browsing history, eCommerce companies can make customized product recommendations for each customer. This can help customers discover new products that they may be interested in and can also help to increase sales for the company.
Personalized emails and marketing campaigns: E-commerce companies can use customer data to send customized emails and marketing campaigns targeting each customer’s interests and preferences. This can help to increase the effectiveness of these campaigns and make customers feel like they are receiving a more personalized experience.
Customized product pages: E-commerce companies can customize each customer’s product pages based on their browsing and purchasing history. This can help to make the shopping experience more relevant and enjoyable for each customer.
There is a massive increase in the number of channels through which businesses can sell and engage customers, but how you communicate is critical to success in 2023. Create a unified and consistent customer experience across all platforms. Make it quick and straightforward, and provide flexibility and convenience. Pay attention to the entire customer journey, not just the purchase. Experiment with technology, but make sure it’s appropriate for the audience.
E-commerce is rapidly evolving, and you can take advantage of this expanding industry by keeping up with the latest trends to make your selling journey worthwhile. Start selling today!