Ecommerce has been wild over the last few years, a big thanks to the global pandemic that propelled millions of people to shop online.
And it doesn’t look like it’s slowing down anytime soon. In fact, experts are forecasting that worldwide retail e-commerce sales will surge from a whopping $5 trillion to over $8 trillion by 2026.
With all this buzz around ecommerce, it’s no surprise that there’s been a boom in the number of online sellers and ecommerce small businesses. While many of these businesses are thriving, it’s important to remember that success is not guaranteed in this ever-changing landscape.
Customer expectations constantly evolve, new obstacles arise, and the competition lurks around the corner, eager to trip you up.
However, ecommerce business owners who stay ahead of the curve and anticipate what’s coming in 2023 can position themselves for success.
By watching the latest trends, you can get your business ready to capitalize on upcoming opportunities and minimize the risks that may come your way.
That’s why we’ve compiled a list of the top 5 ecommerce trends experts predict for the year ahead.
So, buckle up and get ready to ride the wave of what’s to come!
Trend #1: Social Media is on the Highland!
Have you noticed how social media platforms have become a hub for discovering new products and purchasing?
This phenomenon is known as social commerce, and it’s been on the rise lately.
Social commerce sales are predicted to soar from $992 billion in 2022 to $2.9 trillion by 2026.
That’s some serious growth if you ask me!
Part of this trend is the emergence of Shoppable Instagram, a feature allowing users to purchase products directly from Instagram posts.
This has made it easier than ever for people to shop without leaving the app. It’s no wonder Instagram is now one of the top social media platforms for product discovery and sales.
But it’s not just Instagram leading the charge in social commerce.
Gen Z, the up-and-coming generation of consumers, is turning to TikTok more than Google when finding product recommendations.
And get this, nearly half of all people surveyed said they would be willing to buy items directly from TikTok.
That’s a huge potential market for ecommerce businesses!
So, if you’re running an online store or thinking about starting one, it’s worth considering how you can tap into the power of social commerce.
With billions of people using social media daily, it’s a trend that will be around for a while. By staying ahead of the curve and embracing the latest features and trends, you could be poised for serious success in social commerce.
Trend#2: Rise in Mobile Shopping!
Let’s talk about mobile shopping, which is still going strong and is expected to continue its upward trajectory in 2023. While it’s not a new trend, it’s set to be bigger than ever.
In fact, experts predict that global m-commerce retail sales will hit almost $4.5 trillion, accounting for a staggering 69.9% of total retail ecommerce sales.
That’s a huge chunk of the market!
Given these numbers, ecommerce businesses must prioritize designing their online stores with mobile users in mind.
Therefore, store owners are strongly suggested to have mobile-friendly websites that make it easy and intuitive for users to shop on their phones.
In addition to optimizing your site for mobile, it’s important to offer phone-friendly payment options. Apple Pay and Google Pay are examples of payment methods specifically designed for mobile users.
By adopting these options, you can make the checkout process smoother and more convenient for your customers, ultimately leading to higher sales and customer satisfaction.
All in all, mobile shopping is a trend that’s here to stay. By embracing it and catering to mobile users’ needs and preferences, ecommerce businesses can tap into a massive market and reap the rewards that come with it.
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Trend#03: Augmented Reality
Have you ever bought something online, only to feel unsure whether you’ll love it when it arrives?
Thanks to some clever ecommerce brands, you might not have to worry about that anymore.
These days, famous brands like Kipling, Warby Parker, Zappos, and Sephora use augmented reality (AR) to create immersive shopping experiences that let you “try on” clothes, glasses, and makeup before you make a purchase.
And if you’re in the furniture market, IKEA has an app that allows you to visualize how their products would look in your home.
By incorporating AR into the shopping experience, these brands provide customers with greater confidence and assurance about their purchases.
It’s a smart move helping to bridge the gap between online and offline shopping and making it easier for people to buy confidently.
For ecommerce businesses, adopting AR technology can be a game-changer. Giving customers a chance to virtually “try on” products can increase the likelihood of a sale and reduce the chances of returns.
Plus, it’s a fun and innovative way to engage with customers and stand out in a crowded market.
Overall, the intersection of augmented reality and ecommerce is a trend worth watching in 2023.
As more and more brands adopt this technology, it’s likely to become an increasingly important part of the online shopping experience.
Trend#04: Fast & Efficient Delivery!
Over the past few years, eCommerce has been on an upward trajectory, and the COVID-19 pandemic has only accelerated that trend.
With the world in lockdown, retailers had to quickly adapt to the surge in online shopping, resulting in an unprecedented growth of eCommerce sales and expansion of online stores.
In fact, this year alone, eCommerce sales have already exceeded $5 trillion; by 2025, it’s predicted to surpass $7 trillion.
The growth of eCommerce can be attributed to businesses of all sizes embracing online marketplaces, diversifying their product offerings, and accommodating mobile shopping.
And as eCommerce continues to evolve, we’re seeing new trends emerge, such as the rise of D2C companies, B2B companies offering online order experiences like B2C companies, and an increasing reliance on AI and Big Data to drive innovation.
However, with this growth comes the need for faster and more efficient shipping solutions. Customers now expect their orders to arrive quickly and seamlessly, and logistics companies are under pressure to deliver on these expectations.
It led to innovative eCommerce shipping trends designed to satisfy customer Smiley demands and logistical requirements.
From drone deliveries to micro-fulfillment centers and eco-friendly packaging, businesses are exploring new ways to streamline their shipping processes and meet customer needs.
And with the increasing focus on sustainability, we’re likely to see more companies adopt eco-friendly shipping practices in the future.
As eCommerce thrives, businesses must keep up with the latest shipping trends and innovations.
By doing so, they can meet the ever-changing needs of their customers and stay ahead of the competition.
Trend#05: The Sustainable Commerce!
As we are already in 2023, sustainability is becoming a hot topic for consumers. People are increasingly willing to pay extra for eco-friendly products and actively seek ethical brands that align with their values.
Online shoppers are also looking for businesses that offer sustainable or fair trade products, use minimal or eco-friendly packaging, provide sustainable shipping options, and make it easy for them to recycle or refill items.
So if you’re an ecommerce business owner, consider how to incorporate sustainability into your offerings and show your customers that you care about the planet as much as they do.
The Final Recap!
In short, the world of ecommerce is set to continue its rapid growth and evolution in 2023. The rise of social commerce, the importance of mobile shopping, the adoption of augmented reality, and the need for fast and efficient delivery are all trends that will shape the industry in the coming years.
Ecommerce businesses that are proactive in embracing these trends and meeting the evolving demands of their customers will be well-positioned to thrive and succeed in this highly competitive landscape.
By staying ahead of the curve and anticipating what’s to come, ecommerce entrepreneurs can position themselves to capitalize on upcoming opportunities and minimize the risks that may come their way.