E-commerce is here to stay in 2023 and will grow even more. According to experts, from sales of 5 trillion dollars two years ago, it will rise to almost 8 trillion in 2026.
Whatever your goal and your eCommerce niche are, the trend constantly changes. There are a whole bunch of new eCommerce trends that you can work on in 2023 moving forward.
What aspects of your business do you want to change or improve this coming 2023?
You can optimize your digital presence or focus on your brick-and-mortar store. Consumer behavior changed due to the pandemic and the strict health protocols implemented in their respective area. However, the protocols were loosened up after two years, allowing people to go to the physical store to make a purchase.
Reports show that people’s behavior stays the same when they want to make a purchase. They look into your website or your eCommerce stores.
Stay on top of your game and learn from the experts. Learn about the trends that will make your 2023 a success. Inflation and recession are both things that you need to prepare for.
If you think you are overwhelmed by all of the commotions in eCommerce, equip yourself with these updates on eCommerce trends.
ECommerce Trends 2023
1. Omnichannel: More buyers will consider using multiple channels before purchasing
Omnichannel means sales happen via your internet through your desktop computer and mobile phone devices—it also includes sales from your brick-or-mortar store. Examples of stores that have omnichannel are Starbucks, Disney, and Amazon.
99 Firms summed up a survey showing that more than seventy percent of consumers use multiple channels before deciding to purchase. Customers search different channels before deciding to buy a product. Firstly, they search on the internet and then go to the physical store.
It would help if you kept on optimizing your eCommerce store.
You may need to look at ECommerce trends 2023, especially in Omnichannel, which are:
- Make your fulfillment flexible and return options easy. Studies have shown that giving your consumers an easy return policy can build loyalty. It is not the loss of the returned items on your part. It has gained loyalty from consumers that keeps them coming back to your store.
- Allow in-store associates to access the details of your customers to give better service. Allowing your associates in the store to know the details of your customers, especially about the product they chose to buy, is helpful, particularly on the buy-online-pick-up-in-store (BOPIS) sales tactic.
- Real-time inventory of supplies online and in-store. A real-time list will give you a better overview of the product you have on hand to provide better service to your customers.
- Optimize your digital presence by investing in immersive technologies. Examples are augmented reality, virtual try-on, and 3D product images.
- eCommerce businesses can use all-in-one point of sale software to optimize checkout process, automate order fulfillment, inventory management, and deliver better omnichannel customer experience with multiple delivery and payment options.
One more thing, multichannel is different from omnichannel. Multichannel is across web channels such as TikTok, Facebook, and Instagram.
2. Social Commerce: Consumers are likely to shop directly through various social media channels
Tiktok and Instagram communicate well to your customers regarding social eCommerce. A report from Jungle Scout shows that 20% of consumers get their buying ideas from their social channels and make their purchases there immediately. One example is Tiktok, one of the famous go-to of Gen Z in particular. That is more famous than T.V. ads and Google.
Statista shows that social eCommerce will grow more popular in the future. The forecast indicates that social eCommerce will reach sales of more than two trillion U.S. dollars in 2026.
3. Selling on Amazon: More businesses will open, and customers who consider purchasing on Amazon
Statista shows that Amazon will be the top eCommerce website in 2022, garnering more than thirteen percent of the global market regarding desktop visitors. If you are a start-up company, you can use Amazon.
They have eCommerce tools that you may need in starting up built into their platform so that it is easy for you.
4. Personalization: Personalized shopping experience will get you more loyal customers
Personalization works according to marketers. 89% see a positive ROI in returns in their campaign. Simply using first names in emails or marketing information action drives can add a personalized experience to your target customers.
In return, 60% of consumers will return to you after a personalized shopping experience. Adding your customers’ first names and sending greetings on their birthdays are ways to personalize your emails to them. At the same time, it adds your plus points to them for giving them the best customer experience.
5. UGC: User-Generated content is more effective than most brand videos
User-generated content is content made by the user for a specific product. Examples are digital video, review sites, social networking, social media, and photography using the mobile phone.
Statista reported that over 53% of U.S. consumers read product descriptions through social media posts from others to learn more about the brand. In addition, over 30 percent said they are more likely to purchase a product after a live stream show on social media.
Let your users be your product ambassadors across social media platforms. It will bring more loyal customers to you and help you grow your brand.
6. Global Inflation Effects: Technology and adjustments in pricing strategies need to be implemented
Inflation is imminent. Consumers are careful with spending and cutting costs. The best counter for your consumer’s anxiety is flexible return policy options.
Almost 30 percent are returned products online rather than the physical store, which is only 8 percent. Ninety-two percent of the respondents will buy again when they see the process is easy when they need to return products.
Another strategy that you can add other than a good return policy is instead of returning it. Your customers may keep their unwanted purchases rather. According to Burt Flickinger, an expert in retail and a managing director of Strategic Resource Group, a retail consultancy, during his interview with CNN Business, It is an intelligent initiative for businesses to tell their customers to keep their returned product instead of sending it back to the company. So give back their customer’s money instead.
Steve Rop also agrees to the keep it option for returns. Rop is the chief operating officer with goTRG; they handle almost 100 million returns each year, serving clients such as Walmart and Amazon.
The keep-it-option policy is a good idea. Yet, according to Keith Daniels, a partner with Carl Marks advisors, there are some cons to the keep-it-returns options since they could bring some long-term problems.
Inflation and recession can bring some problems that your customers may be anxious about what they may get from you. Calm your customers by giving them options, and plan your easy and friendly return policy so your clients may feel at ease when coming back to you.
There are newer and better ways to handle updating your prices as part of your strategy in this retail commerce.
According to Statista, clothing is the top returned retail product. So if you are in retail commerce, plan about your return policy options and the following steps to get a refund.
7. Mobile Commerce: more purchases will be made through smartphones
Keep on the lookout for mobile commerce as it is rising in this eCommerce trend 2023.
The idea is adapting to technology trends such as mobile phones. Mobile phones tend to get smaller. You can edit your website to be mobile-friendly.
According to World of Statistics, the average American checks their phone every 10 minutes.
Reviews.org tells it otherwise that 47% of Americans consider themselves addicted to their phones. Mobile phones are their constant companion each day. It is also one of the easiest ways to do business in retail commerce.
They may be on their desktop computer but primarily on their mobile phones. Therefore, most purchases happen using mobile phones. It is best to add to your new strategy that you offer a phone-friendly payment app like Google pay or Apple pay.
Experts say that by 2024 eCommerce sales will reach more than 4 trillion U.S. dollars. It says that most customers prefer an easy-to-use click-and-go app accessible on their mobile devices.
8. Localization: more consumers prefer content in their language
Flow io reports show that customers from 11 markets, namely Australia, Brazil, China, Canada, France, Germany, India, Japan, South Korea, the U.K., and the USA, prefer online shops with pages in their native language.
More than 60% of Flow io respondents said they did shopping from a different country. Based on the respondents, they prefer having their native language on the product description page (67 percent), Product reviews (63%), and check out process (63%).
Markets from Japan (415%) and Korea (36%) are least likely to buy from other countries because the website is not in their native language.
In English-speaking countries, more than 70% said they would not shop from sites that were not in English.
You should include this eCommerce trend in 2023 when you want to cross the border and increase your profit.
9. Influencer Marketing: Influencers will still impact purchase decisions
Word of mouth is one of the best strategies in selling your product. Guess the times have changed, and influencers now have the potential to grow your eCommerce biz. People now listen to influencers before they make a buying decision. 27% report shows its relevance.
The good side is you can do a couple of things with an influencer. You can host a social media takeover or organize an event where you can do giveaways with influencers. In that way, you can boost your sales.
Experts say influencer marketing right now is the single-best marketing method of marketing.
10. Customer Experience: Service quality is a huge factor in customer retention and gaining conversions
Due to inflation, some businesses reduce their investments, especially in customer services, but that will be a huge problem come 2023. Customer service helps you connect with your customers in your business. Without it, customers may choose your competitor, who offers the best customer experience.
Ujet put together a report on consumer preferences in terms of customer service. From over 1,600 respondents, 73 percent will stop subscriptions if they don’t receive good customer service. Eighty-seven percent say they will stop spending on brands that skimp customer service.
Skimpflation means business reduces the quality of their excellent service. One of those is the best customer service. That means companies will not hire people for customer service, or you will stop investing in digital products such as chatbots or automation emails.
Since you are cutting off budget, that means you save money, but it may backfire, especially if you are in the retail eCommerce clothing niche.
What is your eCommerce game plan for 2023?
Follow the trends in eCommerce so you won’t get caught up.
A good photo that resembles your authentic product is eye catchy and may attract more customers to your stores.
It is overwhelming with all the things that are happening right now. Inflation, recession, and COVID-19 reinfections, but you can see in Statista’s forecasts by experts in 2022 that eCommerce will keep growing.
You should keep your head up and continue working towards your goals. Because in any way, and in every way, you will succeed. So, make that goal happen. Bring it on in 2023!