The Next Frontier of Ecommerce: 8 Trends to Keep Your Business Ahead

Trends come and go, so staying informed is the best way to remain ahead of the game. Paying attention to what is popular now and what will be popular in the future is vital to good ecommerce and smart marketing. Not only will it help keep your business fresh, but it will also help you stay ahead of your competitors. Here are emerging trends in 2023:

1. AI-Generated Noise
Artificial Intelligence integration is on a fast-paced rise and will not slow down anytime soon. We expect to see AI usage for content marketing to spread very quickly as, conversely, its effectiveness may begin to decrease. As a marketer, It will be extremely important to balance using AI with customer knowledge and marketing experience, so that final content resonates and remains relevant to your audiences. Use AI as a tool and thought starter to help your marketing efforts go in the right direction but bring in the human touch and your experience to stay on track.

2. Accelerated Use of Mobile Shopping
Mobile shopping is becoming increasingly popular in 2023, according to Sprout Social. Although mobile shopping may be understood as occurring when someone purchases something on a shopping app, its context is much broader. Mobile shopping includes any time people speak with sales reps or engage with ads online. Live stream shopping and augmented reality shopping are new trends to track and incorporate as well.

3. Businesses Focus on Optimizing for Conversion
According to a Shopify report, in a survey of global Shopify Plus merchants, 35% have seen shrinking average cart sizes, and 50% are seeing less site traffic and lower conversion rates. People are monitoring and decreasing their spending and researching products not only on websites, but social as well. Market your products using multiple channels but also focus on optimizing for conversion on social media and search engine advertising.

4. Pricing Pressure
It is not uncommon for people who are online shopping to price-check their items. This leaves business owners with no choice but to pay close attention to their competitors’ prices and stay within a certain competitive range – or to effectively communicate a higher value or luxury quality to differentiate their product. To compete with huge companies like Amazon, whose prices seem to always be changing quickly, look at how you can package or add value to your product to differentiate from and compete with the large mass market platforms.

5. AR and VR Enhance Online Shopping Experiences
The saying “try before you buy” has evolved to a whole new level. Industries such as the beauty industry and the fashion industry are benefiting greatly from leveraging smart online shopping experiences. Customers can now try a makeup product or a piece of clothing without physically putting it on or purchasing it. It is a complete game changer and a hot trend to watch out for in 2023. According to a Spout Pulse Survey, 48% of marketers anticipate using Virtual Reality, Augmented Reality, or Extended Reality Technologies to help sell their products to consumers.

6. Personalization
According to the State of Personalization 2022 report, almost half (49%) of consumers say they will likely become repeat buyers after a personalized shopping experience with a retailer. Personalization can include a cohesive retail experience across multiple channels, from offers and discounts and nurture campaigns to customized online shopping and product recommendations. Take time to explore how to personalize your ecommerce experience in 2023.

7. Subscriptions Help Retain Loyal Customers
Brands are using subscriptions to attract loyal customers while increasing their sales and retaining customers as well. Subscriptions offer customers limited-time offers and exclusive access to events and products. These benefits are so attractive to customers that Lululemon expects 80% of customers to sign up for membership within the next five years, according to Shopify’s The Future of Ecommerce + Trends 2022 report.

8. Consumers are Choosing Brands that Align with their Beliefs
Consumers are increasingly choosing brands that stand for the values they believe in. For example, companies that authentically exemplify diversity, environmentalism, and inclusivity are far more likely to get customers than ones that do not prioritize people’s beliefs. Sprout’s Pulse survey shows that 77% of consumers are more likely to increase their spending with brands they feel connected to, a 57% increase from their 2018 Brands Get Real Report. The survey also showed, across generations, that consumers are more likely to spend on brands they feel the most connected to.

Ecommerce trends will continue to evolve, and we will continue to keep an eye on them. From AI to AR and VR to enhanced online shopping, these rising trends are shaping the ecommerce space. We can not wait to see what is to come in the future.

To find out more about how to grow and scale your ecommerce business, connect with us at smartstrategies@bbggadv.com.

By Sam, Social Media & PR Intern | April 10, 2023

Sources:
https://www.forbes.com/sites/forbesmarketplace/2023/03/21/the-future-of-e-commerce-trends-to-watch-in-2023/?sh=4bb13342631e
https://sproutsocial.com/insights/ecommerce-trends/