Future Trends of E-Commerce Industry to Watch Out for in 2023
$3 trillion- this is the approximate worth of eCommerce to date, which indicates the bright future of this thriving sector. Amid the rise of smartphones and mobile devices, the popularity of the eCommerce sector skyrockets across the world. This is a prime reason why more retailers opt for eCommerce development. The software development company integrates the latest trends of eCommerce and technological advancements to build next-gen online stores.
Let’s discuss some of the top trends of a thriving eCommerce industry that will shape the future of online business in the year 2023 and beyond.
Top E-Commerce Trends to Watch in 2023
1. Rise of Voice Commerce
This trend has already taken the world by storm. Google Assistant, Siri, and Amazon Echo have started to change our lifestyle using voice commands. From booking tickets to ordering pizza to playing favorite music, voice assistants work wonders in accomplishing many daily tasks. Now, the trend will come of buying products from an online store using voice commands. As per an official estimate, 80% of homes will have one smart speaker by 2025. The popularity of this trend is growing because of the convenience and accuracy it offers.
The software development company can integrate voice assistant in your eCommerce website and app to add more convenience for your customers and enhance their shopping experience.
2. Omnichannel Experience Will become a Norm
Gone are the days when people tend to order from their laptops or desktops. These days, your customers prefer a mobile channel to place orders on the move. A survey conducted by Harvard Business Review has revealed that as many as 73% of customers prefer multiple channels during their shopping journey. This data is a bit old, and today, we can expect that the number of omnichannel customers will increase in 2023. With this, eCommerce business owners can track their customers’ behaviors using various analytics tools to improve the shopping experience across various devices. It is better to hire eCommerce developers to build a dedicated, feature-rich mobile app, or a PWA (Progressive Web Application).
3. Customized Packaging will Rule
Attractive and customized packaging always attracts consumers to shop again from the same eCommerce website or an app. Unique packaging is liked by almost all customers, and therefore, eCommerce companies provide customized product packaging. This trend will help your company and various products stand out from the crowd. It shows the aesthetics and creativity of your business. With this, customers are interested in eco-friendly packaging. You can save a lot of bucks by using recycled packaging material. Altogether, you can establish your brand reputation over the period using this trend.
4. AR & AI Will Enhance Experience
It is estimated that online sellers will spend over $7.3 billion on Artificial Intelligence (AI) by the year 2022. Also, over 120,000 brick-and-mortar stores will use AR to offer a richer shopping experience to their consumers by 2022. All these facts show the promising future for both emerging technologies AI and AR. On one hand, AI technology can act as a virtual in-store assistant by providing personalized recommendations based on the customer’s shopping behaviors, and on the other hand, AR will make the shopping experience more pleasant by providing necessary information about the product in an interactive way.
The eCommerce development company will integrate AI and AR-based features in the eCommerce app as well as website and assist its clients to grow their online sales.
Also Read- How to Convert Your E-Commerce Store into M-Commerce App
5. Position of Social Media will be Stronger
The influence of social media is increasing by leaps and bounds. It has gone beyond its role of connecting people. These days, many companies use social media platforms as powerful marketing tools. The social media network enables eCommerce companies to reach a huge target audience with ease. Robust platforms like Facebook and Instagram have “buy buttons” that enable companies to sell products. Customers can easily make purchases using their social media profiles.
6. Green Consumerism will Prevail
Green consumerism refers to a situation in which customers look for eco-friendly products that contribute to conserving the environment or promoting recycling. The focus will remain on green consumerism as many eCommerce brands will give priority to environment-friendly practices in the coming years. As an eCommerce business owner, you need to act fast to implement this trend and stay relevant for a long time.
7. Multiple Payment Options will be Available
These days, people prefer eCommerce sites or apps that offer multiple payment options including mobile wallets, credit cards/debit cards, and net banking. There is no exaggeration in mentioning that if you do not provide a preferred payment method to your customers, they won’t purchase from your online store again. In 2023, we may witness a trend of cryptocurrency-based payment, and eCommerce business will start accepting bitcoins and other cryptocurrencies.
In the coming time, many eCommerce companies will focus more on sustainability practices. The world’s leading eCommerce company Amazon has pledged to bring their carbon emissions to zero by the year 2040. Top brands will also opt for dynamic pricing to attract more customers. Last but not least trend will be the dominance of mobile commerce or m-Commerce.
It is fair to mention that though the eCommerce sector will grow over the period, the competition will be intensified amid the ever-changing expectations of customers. Startups, small, and mid-sized eCommerce companies need to hire eCommerce developers to build customized software to stay firm in such a highly competitive scenario.
These eCommerce trends give us a glimpse of the future of the eCommerce business. Various businesses across different industry sectors will opt for online selling by transforming their models. There, eCommerce software development services will remain handy for them to make the most of a growing eCommerce sector.
Semaphore Software is a renowned eCommerce development company in India and USA. Our in-house team of experienced eCommerce developers takes every aspect of your business and market trends into account while developing advanced eCommerce software. Semaphore is a one-stop solution for custom software development across different industry verticals including retail, manufacturing, utility, and healthcare. Do you want to hire eCommerce developers to boost your business online? Simply send us an email at firstname.lastname@example.org. We will gladly assist you.