ECOMMERCE INSIGHTS

Online Shopping is booming in this era. Shopping Online is a more comfortable place and beneficial for shoppers. Here, We discuss the eCommerce trends that will affect the eCommerce industry in 2023 and beyond. If you’re planning to hire Magento / Shopify developer to build your eCommerce store then you have to tell them – Include these features in my eCommerce store. 2020-2021 Are the best years for eCommerce sellers with modern and remarkable expansions of online business.

According to Statista, global eCommerce revenue has surpassed USD 3.53 trillion. It is projected to exceed USD 6.54 trillion by the end of 2023. These figures clearly show the expansion of global eCommerce.

If you want to deliver a unique experience, build and strengthen relationships with your consumers, and/or make a lasting impression, you have to comprehend emerging trends in eCommerce. 

Let’s have to take a look at eCommerce Trends

Artificial Intelligence

AI can support today’s online retailers deliver an optimized consumer experience on and off their eCommerce websites by using collected business and consumer data to make more profitable business decisions and more accurately forecast the future.

To begin with, artificial intelligence can now expect a consumer shopping approach that is based on the products and websites that shoppers buy from, as well as when they browse. Some of the most efficient forms of AI will become prevailing in the eCommerce industry.

• Chatbots and other virtual assistants – A chatbot simulates human conversation through auditory or textual methods. A virtual agent also known as a virtual assistant, or VA is a program but with similarities to an actual assistant: they can answer specific questions, perform specific tasks, and even make recommendations.
• Product suggestions – When you are searching for the particular products You will the the suggestions of the related product. It will be displayed by the google.
• eCommerce personalization – The term “ecommerce personalization” relates to the set of practices in which an online store displays dynamic content based on customer data, such as demographics, intent, preferences, browsing history, previous purchases, and device usage—for instance, whether the customer is shopping on a mobile, tablet, or even a smartwatch.
• Stock management – Artificial intelligence in inventory management can help companies eliminate time-consuming and tedious inventory tasks. It can also provide companies with better data to make decisions about inventory, which will result in higher profits and lower losses.

As per the studies, retailers loading advanced personalization functionality saw a 25% revenue lift.
Retailers were among the first to recognize the value of integrating AI into their technology toolbox.

AR and VR transforming the shopping experience

In 2021, the adoption of VR in eCommerce can expand the online shopping conversion rate by 17%. Additionally, as per the eCom Dash, 63% of online purchasers claim AR will enhance their shopping experience.

Moreover, in recent years, AR and VR have been getting a lot of attention from the media. Some of this is due to the hype that surrounds these technologies. But more importantly, it’s because they’re very promising technologies for enhancing the shopping experience. In this write-up, you will come to know how these emerging technologies are going to transform the way we shop in 2023.

• An interactive visual environment is referred to as virtual reality. It can pertain to 360-degree videos, photos, or product demonstrations. VR is properly different from AR. While virtual reality delivers a fully interactive experience in an absolutely simulated environment, augmented reality does not. Instead, it develops a live view of the world with digital components.Its application for the technology is virtual showrooms, which enable consumers to tour your virtual storefront online from the comfort of their homes. 
  • Virtual stores
  • In-store experience
  • Live events
  • Online learning

We all have been living in an era where our first priority while searching for any product online is Google. Even for any information, ratings, reviews, price comparison, and so on. People will browse it through Google. Hence, your eCommerce store should have the prospect to acquire the highest ranking in SERPs. If your store is failing to do so, then you are missing a big number of shoppers for your eCommerce store. You have to optimize your store to rank increased on Google search results. The 5 key factors to getting a higher ranking are;

• SEO-friendly
• Unique Product descriptions
• Relevant content 
• Should be user-centric not bots
• Page speed

Social Media, a new marketing tool

AI in social media holds the potential to transform how brands market across platforms like TikTok, Snapchat, Facebook, Instagram, Twitter, and LinkedIn. Today, AI can create social media posts for you. It can draft and target social ads. It can automate monitoring And it powers most of what you see on any given social network.

The majority of social media platforms have concentrated on demanding to online consumers as an eCommerce marketing trend. But, more saliently, the internet has converted into a channel through which brands can obtain greatest exposure.

Social media marketing (SMM) has already growling and will continue to obtain you better outcomes. Some of the effective ways to gain leads through social media are; 

• Influencer Marketing – Using natural language processing (NLP), AI can predict how well an influencer will match the brand’s goals in any campaign. Marketers can use AI to analyze individual messages made by an influencer and compare data to see how effectively each influencer works with the brand
• Promotional hashtags – You can use your trending hashtags in your social media post and any tipe of posting. Using hashtags you can get the organic leads.
• Optimized social media profile – Create social media posts and optimize social media campaigns. Figure out what posts work best using advanced analytics.
• Video Marketing – You can make the video for your particular product promotion. And post it on your all social platforms.
• Paid advertising – Drive website traffic, build awareness & generate higher quality leads with LinkedIn Ads. Maximize B2B growth with personalized ads on the #1 platform for B2B lead generation. #1 B2B platform. 2x higher engagement. 3.5x higher CVR for B2B. Create an ad in minutes.

Mobile commerce for online purchases

Mobile commerce or m-commerce is an e-commerce subset that involves the purchase and sale of goods through a mobile device such as a Smartphone or tablet. As users discover devices with more features and data systems are more readily available, users are now finding it easier than ever to purchase mobile phones.

Mobile commerce sales are expected to rise by 2023. Customers can make purchases from anywhere using mobile commerce, which is vital in today’s modern age. However, if your eCommerce site is not mobile or web app responsive, you will be lacking out on significant opportunities.

The number of pedestrians in the US is expected to reach 187 million by 2023-2024.

US m-commerce statistics show a steady increase in the number of people jumping on a mobile shopping train. By 2020 there were 167.8 million buyers, which are 605 residents of the entire American population. Mobile buyers are defined as people who buy at least one item using a mobile app or website. Their number is expected to increase by 0.6% annually, reaching 187 million by 2023-2024.

Voice commerce will take a lead

Artificial intelligence and voice technology are becoming ubiquitous. They are transforming how we go about our daily lives and spurring significant economic growth across many industries. One such industry is eCommerce.

eCommerce, which brought shopping online, already transformed the shopping experience itself just a few years ago. Now, AI-enabled voice tech is transforming e-commerce into voice commerce.

As its name states, voice commerce is a technology that enables users to shop and make online purchases through a voice interface rather than using a mouse, keyboard, or touch screen. And it seems to be winning consumers over. In 2021, voice commerce grew to represent $4.6 billion. And it’s expected to reach $19.4 billion or more in 2023. That means 320% growth. Not bad, right?

Some eCommerce platforms are booming on Voice Commerce. Such as- Walmart and amazon.

Omnichannel will enhance your business omnipresence

The rise of Internet birthed eCommerce, and so evolved marketing on digital platforms, leading more and more shoppers to e-stores. As the technologies are further advancing, the potential of digital marketing is expanding.

The omnichannel eCommerce business model led by click-and-mortar, has not only integrated online and offline experiences for the customers, but has also offered seamless experience by enveloping every marketing medium or channel.

Owing to the digital lives that we are leading today, by spending most of our time on various digital platforms, sharing updates, views, thoughts, and way of life in glimpses, it has become imperative for brands to reach out to their customers right there, where they are – the multiple channels. Building existence on these multiple channels is what helps the brands to acquire omnipresence, which refers to adopting a holistic approach of allowing the customers to have an experience from whichever medium or device, and from wherever they want, instead of a specific website or ‘just’ Facebook experience on desktop, tablet or mobile, from a specific location, at a specific time.

Conclusion

The eCommerce trends introduced here are aimed to deliver a clear overview of the future of eCommerce. The most current eCommerce trends are causing businesses to assume modern technologies and business practices that are thought to increase online sales. 

Virtual Commerce is only receiving a drive-in enhancing the consumer shopping occurrence. However, V-commerce can’t survive on its own without mobile apps or chatbots, at least now. You can’t get on the Internet and buy anything you want utilizing only voice commands.
Unfortunately, too many limitations cover the demand for a certain online store or booking service to support voice control. However, it’s just the beginning; there much more unique abilities to come in the near few years.
Want to make your brand unique from your competitors?
Born Techies will here to assist you!!!

Born Techies –Digital Commerce agency offers Shopify, Shopware, Magento, and Bigcommerce development with the latest technologies.

Do you want to receive a free consultation about how to optimize your store and generate more sales? Reach us out at [email protected] or contact us, and we will be more than happy to help you out.