So many businesses suffered during the pandemic. But the e-Commerce industry bucked that pattern.
As more people embraced online shopping and home delivery, growth rates in e-Commerce rocketed to 28% annually, with analysts expecting that trend to continue.
If you run an e-Commerce store or plan to in 2023, you might have started thinking about what will change in the coming year. So continue to read on for our take on the five eCommerce trends to watch over the next twelve months.
1. TikTok Influencer Marketing
TikTok is the hottest platform right now, and it’s the place to be if you want to connect with Generation Z.
While TikTok has a growing advertising platform, the savviest e-commerce businesses in 2023 will use an alternative model to promote their brand: influencer marketing.
Even the most obscure and unusual niche will offer some form of influencer on TikTok with thousands of loyal fans. So all you need to do to promote your brand is form a sponsorship deal with that influencer to get it in front of their audience.
2. AI-Powered Customer Service Assistants
Next on our list of the top trends in e-Commerce is AI. Customers want to start replicating an in-life shopping experience when they’re online. And you can help deliver that in 2023 through advances in AI.
Chatbot technology will allow you to add AI customer support to your e-commerce homepage or app.
You can use this first line of support to answer frequently asked questions or signpost them to the correct department. Overall, it will help improve your customer service delivery in 2023.
3. Mobile Shopping Apps
Mobile apps offer huge advantages over mobile web browsing. So if you want e-commerce trends that will help your business to get ahead in 2023, replace your web experience with a streamlined shopping app for your customers.
An app will offer a faster and more personalised experience to your users. Customers can move from browsing to checkout seamlessly and quickly as they remain logged in, improving the user experience.
Your ability to add notification technology will also help you put offers and promotions right in front of your most loyal customers, boosting your sales conversion rates.
4. The Subscription Model
If you already have an e-commerce store, it’s worth considering whether you have a ripe product for a subscription service.
This pricing approach is becoming one of the most increasingly popular financial trends for customers who value the convenience and predictability of ordering a product monthly from the same trusted brand.
You’ll have probably seen subscriptions for a range of things, such as razors and socks. It can help boost profit margins, and you’ll retain more customers, cutting advertising costs for new ones.
5. Green Commerce
Finally, you’ll need to develop a sustainability model if you want loyal customers in 2023. Issues like climate change are becoming central to customers buying decisions.
Your brand must show you’ve made a concerted effort with recycled packaging and sustainable material. You may want to support a green initiative by funding some of your profits to a charitable cause.
eCommerce Trends to Watch in 2023
Rarely has there been a more exciting time to run an eCommerce business. With these five eCommerce trends to watch in 2023, the most ambitious entrepreneurs will have plenty of ways to grow their businesses.