The year 2021 was excellent for the eCommerce sector. Over 3.53 trillion USD were made in eCommerce sales globally. It is expected to rise to $6.54 trillion by the end of 2023. These figures demonstrate the expansion of international eCommerce.
Well, various factors in consumers’ shopping habits influence trends in the eCommerce sector. What they purchase and how they react to marketing strategies used by companies are the major ones. Numerous new trends have surfaced in the previous ten years and had a significant impact. If you also want to grow in the eCommerce sector, here are the top 10 trends you need to follow in 2023.
Top 10 eCommerce Trends in 2023
Augmented Reality
Augmented reality and the digital customer experience in eCommerce are closely related in the coming future. The inability of online shoppers to try on clothing and accessories or accurately see how furniture will appear in their homes before making a purchase has long been one of the main issues for online stores.
Technologies like virtual reality and augmented reality can solve this problem by vastly improving the shopping experience. Customers may preview how products will seem in real life using AR solutions.
Voice Search
With the advancement of AI-based voice recognition technology, voice commerce, a subset of eCommerce, is evolving. Instead of typing out requests for internet searches, placing orders, and finishing the purchasing procedure, online customers find it more comfortable to make use of their voice.
Virtual digital assistants like Google Assistant and Alexa allow the seamless integration of online shopping into daily life. Hence, users can purchase without hindering their regular chores.
So, it is advised to integrate voice search features into your eCommerce website and mobile application. Custom eCommerce website development allows you to effortlessly add as many features as you desire to your site. This way, you can tailor your online store exactly to your needs without any difficulties.
Chatbots
An exceptionally helpful marketing tool for enhancing customer service is a chatbot. Chatbots have many advantages for organizations, including 24/7 availability, cost-effectiveness, and the automation of repetitive jobs, which improves the customer experience.
Natural language processing technologies are being used by more and more eCommerce companies to build chatbots that can converse with online customers like that of human sales representatives.
Subscriptions
Subscription-based eCommerce business models are becoming more and more common among customers and retailers. In simple terms, providers offer a range of subscription plans for their goods or services; clients select packages based on their requirements and preferences and receive them regularly in exchange for regular payments. It functions exactly like a magazine subscription.
Artificial Intelligence
AI technology enables eCommerce businesses to offer a more enriching buying experience. Personalization is significantly enhanced through AI and machine learning, revolutionizing the way customers interact with brands.
Loyalty Programs
Customers in today’s market are knowledgeable and look for top-notch experiences before making a purchase. Businesses must, however, provide something substantial, like a loyalty program, to encourage long-term commitment.
Customers appreciate loyalty programs because they recognize and reward their devotion with benefits like cash-back, discounts, next-buy coupons, and freebies with every transaction. Customers are kept interested and coming back for more thanks to these alluring benefits, creating a strong bond between them and the business.
BNPL
Customers occasionally enjoy a product but decide against purchasing it because they lack the necessary funds. To guarantee they don’t lose out on such customers, many eCommerce businesses have introduced a program called ‘buy now, pay later’. It enables customers to pay for goods over some time in manageable installments rather than everything at once.
Since BNPL agreements are frequently interest-free, 39% of consumers choose BNPL payments over credit card payments.
Video Marketing
In eCommerce, videos are quite popular. Online merchants use anything from product explanatory videos to video testimonials in their marketing campaigns. When you consider it, it makes perfect sense because ordering a product you’ve never seen with video eliminates all of the uncertainty. If a product has moving parts, you can see it in use, know about its size, as well as learn how it functions.
Influencer Marketing
The digital age has seen the emergence of influencer marketing as a potent and successful tactic. It centers on working together with prominent people, or influencers, who have a sizable following on social media sites. These influencers have the power to affect the opinions and purchasing choices of their followers since they are frequently experts or enthusiasts in particular fields. Brands work with influencers to market their goods or services authentically by utilizing the trust and credibility they have established. With the help of this strategy, businesses may connect with a highly interested and focused audience, raising brand recognition and trust among consumers and eventually improving sales.
Live Streaming Commerce
Live commerce, aka live streaming commerce or livestream purchasing, is a creative and engaging retail trend that has gained importance in recent years. It gives customers a distinctive purchasing experience by fusing the power of live video streaming with online commerce.
During live-streaming commerce sessions, hosts or influencers use video broadcasts on various channels, such as social media or specialized live commerce platforms, to present products in real-time. By asking questions, leaving comments, and communicating with the hosts, viewers may take an active part. Customers may obtain immediate product information, watch the products in use, and get tailored suggestions thanks to this real-time involvement.
Final Thoughts
Although retail sales are among the oldest business concepts in existence, eCommerce is continually evolving. If you want to grow your business online, you must stay up-to-date with the latest trends by implementing techniques that align with your brand and business concept. This proactive approach will help you remain innovative and ahead in the market.
For integrating any of these improvements, are you looking for a tech partner? Consider contacting experts offering custom eCommerce website development services and get your shopping portal the way you fancy.
