7 Ecommerce Trends That Will Shape The Industry In 2023
Online technologies are transforming the needs and behaviors of customers.
Online stores have to adapt to these changing needs in order to maintain their competitive advantage and customer satisfaction.
In any other case, they would fail.
Therefore, staying up to date with the latest trends is crucial, as well as implementing them within the shortest time possible in order to avoid falling behind.
Ecommerce Trends That Will Shape The Industry
Keep reading if this is your intent. We're going to explore seven eCommerce trends that will shape the industry in 2022 in this blog post.
Let's dive right in.
Augmented Reality and Virtual Reality
The first future eCommerce trend to mention is that of augmented reality (AR) and virtual reality (VR). Both technologies enhance the user experience, allowing them to explore a virtual world in part or in full.
To give you an idea of how they work, here are the details:
- Augmented reality. By projecting virtual images and characters through a phone's camera or video viewer, AR turns an ordinary physical world into a colorful, visual one, enhancing the real experience.
- Virtual reality. Through this technology, users can immerse themselves in an entirely computer-generated simulation of an alternate world. Special equipment, such as headsets, sensors, and gloves, contributes to creating and enhancing this immersive experience.
Big companies are already testing and implementing AR and VR. For example, think about the virtual fitting rooms or the game Pokémon Go.
As users refine and enhance their expectations regarding online shopping, these technologies will become almost mandatory.
As a result, you can surely expect these trends to increase in the next few years.
You can start implementing these technologies on your eCommerce site with these tips:
- Provide 360-degree images and videos of your products
- Develop a visual search tool that enables customers to search for products with images
- Design an interactive experience
Voice Search for Online Shopping
Considering the popularity of voice tools, such as Alexa, they will surely be a significant eCommerce trend in the years to come.
As well as being used for research, they're also going to be used for online shopping.
Over the past few years, this functionality has seen an increase in use. Statista estimates that more than 3.25 billion people worldwide currently use voice search.
The Statista report projects that by 2024, the number of digital voice assistants will reach 8.4 billion units, making voice search an important part of eCommerce trends in the future.
This means you need to optimize your eCommerce websites for it.
There are several ways to accomplish this. Here are a few tips:
- Build FAQ pages that provide detailed information
- Use conversational language in your content
- Target long-tail keyword phrases
- Take advantage of Google My Business listings
- Take mobile into account and think locally
Chatbots for Customer Support and Interaction
With the introduction of new technologies, customer support services are undergoing major changes.
AI and automation technologies have made it possible to automate some repetitive tasks, optimizing the use of time and resources.
For example, it is not unusual for clients to ask the same question over and over again.
Rather than spending your or your employees' time answering the same thing, there are now chatbots that can do this for you, freeing your time for more urgent and important work.
Using artificial intelligence, these chatbots provide automated answers to specific questions by accessing a KnowledgeBase that contains information about all the previous customer requests and topics.
Here are a few tips for integrating chatbot software on your eCommerce website:
- Make sure the chatbot icon is prominently displayed on every page of your eCommerce store.
- Provide a personalized experience (e.g., welcome users by their first names if they are logged in).
- Ensure the bot offers detailed responses and suggestions for looking after products.
Artificial Intelligence and Machine Learning
Artificial intelligence, quantum machine learning solutions and machine learning are current eCommerce trends and are expected to increase.
Despite the similarities between these two technologies, they are actually different. AI and machine learning differ in this way:
- Artificial intelligence enables machines to simulate human behavior.
- Machine learning is a subset of AI in which machines can automatically learn from past data without programming.
Artificial intelligence can, for example, track your users' actions on your eCommerce and automatically produce statistics and reports that you can use to reshape your marketing strategy.
Additionally to analytics, AI together with ML help with marketing strategies such as recommended products, upselling, and cross-selling.
In fact, these technologies can study previous data collected by image annotations, and use it as a basis for creating personalized shopping experiences for each user.
As an example, if online shoppers frequently buy a particular product every week or month, you can use AI to customize offers for those shoppers for that specific product, or you can recommend a supplementary product that complements well with that product using machine learning.
Here are some ways you can integrate AI and ML into your e-commerce site:
- Create a customized experience
- Provide automated customer support
- Optimize inventory management
Mobile and Social Media Shopping
According to Statista, in 2024, approximately 187.5 million Americans will have made a purchase using a mobile browser or app on their mobile device.
Thus, mobile shopping will continue to be an eCommerce trend for the foreseeable future.
The number of people using their mobile devices to shop is on the rise, and they prefer shopping through apps and social media instead of the internet.
Many social media platforms, including Instagram and TikTok, have already integrated their own in-app shopping stores, which allow users to purchase products directly from the app without even leaving the application.
To take advantage of these trends, you need to optimize your eCommerce site for mobile viewing and begin or reshape your social media marketing strategy.
You can optimize your eCommerce site for mobile devices by:
- Making your website 100% mobile-friendly
- Ensuring that interactive elements are user-friendly
- Providing an intuitive checkout process
- Eliminating invasive pop-ups
- Reducing heavy content
You can find more information about the mobile and social media shopping trends in Whisbi's eCommerce trends guide.
Around the world, environmental concerns are escalating dramatically. The big and small merchants have already embraced this concern by adapting their businesses and making them more sustainable.
Listed below are some examples of big companies embracing sustainable initiatives:
- Apple uses 100% renewable energy in its production facilities, relying on wind and solar energy instead of fossil fuels.
- LEGO aims to reduce packaging, source renewable energy, and increase recycling rates.
- Nike has an entire line of sustainable products featuring materials such as recycled polyester and also uses renewable energy.
Sustainability is an eCommerce trend that users are considering now and will even more so in the future.
This means they pay attention to processes, packaging, and more. According to the European E-commerce report 2021 for all EU countries, customers are more likely to purchase products made and delivered sustainably.
In general, buyers will pay more for sustainable products and companies than for non-sustainable ones.
Here are a few tips to make your business sustainable:
- Use compostable plastic whenever possible
- Reduce transportation emissions and costs by sourcing materials locally
- Consider minimalistic packaging (possibly made from recycled materials). Make sure to check out SupremeX an ecommerce packaging company.
- Reducing the amount of material used as much as possible
Innovative Payment Methods
As technology advances, so do payment systems.
Customers are becoming more demanding about payments; they want to use the payment method they prefer, and if they cannot find it among the available options, they may even leave.
Therefore, offering a variety of payment solutions, including the most popular ones, such as PayPal, is extremely important for both sales and customer satisfaction.
You should take into account and offer the most innovative payment methods, as being the first business to adopt them will give you an advantage over the competition.
For example, with the boom of people investing in and using cryptocurrencies, many businesses started accepting them as payment. There are now many crypto payment processors that allow you to accept cryptocurrency as payment and integrate it with your eCommerce site quickly and easily. One example is Coinbase Commerce.
The following tips will help you improve the checkout and payment experience:
- Let users order with a single click
- Provide a fast checkout
- Provide popular and innovative payment methodsپ
Technology is rapidly evolving, as are the needs and preferences of online shoppers.
By not riding the wave, the company could fall behind and lose sale potential, and this could ultimately cause the business to fail.
Keeping up with current and upcoming eCommerce trends, such as those listed in this blog post, will give you a competitive advantage and lead your business to success.
The sooner you implement them, the sooner you will reap the benefits.
I appreciate you taking the time to read this blog post. Hopefully, you found it informative and inspirational.
You can find out more about changes in the online store industry by reading this article about how COVID-19 has shaped the landscape of eCommerce business.
November 7, 2023
November 7, 2023