The e-commerce industry is expanding with immense speed as our world shifts more and more toward digitalisation. The market is currently driven by customers’ changing needs and their demand for convenience. Statista reports that global e-commerce sales are suggested to reach US $6.3 trillion in 2023.
This increase in global sales and market popularity creates the need for building a new market by following trends. Traditional brick-and-mortar companies are currently adapting quickly, developing online stores for their services and products, while some businesses retain their physical stores.
With the higher need for e-commerce businesses to move online and adapt to changes, it becomes more challenging for companies to find and satisfy customers. Luckily, e-commerce organisations will be able to stay relevant in the long term by knowing trends that the industry may develop. This article showcases key e-commerce trends that your business should look for in 2023.
Video content has quickly become an efficient tool for organisations in the e-commerce domain to reach and engage with a global audience. As a result, companies are looking to incorporate video content into their e-commerce strategy, which creates a new trend known as video shopping.
And video shopping has been steadily growing for the last few years and is suggested to become even more used in 2023. By using a video shopping trend, e-commerce businesses can get an immersive shopping experience with additional comfort.
New Payment Options
Thanks to global changes in the payment market, more and more payment options will appear in 2023 and be used by many e-commerce companies worldwide. Since traditional payment is quite outdated and most customers don’t like small options, the e-commerce industry will see a huge change in that space. The e-commerce domain will also evolve thanks to these new payment options since customers will be able to make purchases quicker and more easily.
With the growing popularity of e-commerce services and an increased need for companies to delegate manual and time-consuming tasks, the industry is now adapting automation in as many spheres as possible.
Now e-commerce companies can use fulfilment services as it can help reduce lots of resources that were required years ago and free time for more vital tasks. For example, Bezos.ai provides a one-stop fulfilment solution for small and medium e-commerce businesses to get their orders delivered.
Mobile shopping is the hottest trend today. With the increased use of mobile apps, e-commerce businesses should not avoid this opportunity. The mobile app market is believed to continue its rapid growth for years to come. A recent report found that mobile commerce sales made up 53% of total sales in 2021 and will definitely grow more in 2023.
Social commerce is a new growing trend, specifically in the e-commerce space. That is because it allows companies to engage with their target audience directly and grow personalisation while developing a strong online presence. Instead of relying on traditional methods for marketing and selling, including paid search or content-driven marketing strategies, social commerce provides a brand-new way to engage with clients.