With the increase in the latest technology and advancements made in the field of E-commerce, more and more people have started to shop online. Especially after the Covid-19 pandemic, when everyone was locked in their homes, online shopping was people’s only resort to buy things. The majority population soon realized the comfort and convenience of online shopping. Therefore, in just 2023 alone, the number of online shoppers has increased by 2.14 billion, or almost 28% of the world population.
The developments in E-commerce, such as enhanced internet quality and accessibility to events and sales like Black Friday and Cyber Monday, have increased online shopping popularity.
Indeed, the online shopping experience has proved to be far better than physical shopping as it provides a personalized shopping experience where you can choose from several options, skip waiting in queues for check-outs, get amazing deals and discounts, and read customer reviews before buying any products.
Here are the different online shopping trends to watch out for in 2023.
Continued Increase in Online Selling
Online shopping has gained immense popularity, and it is expected to have an increased revenue of $560 billion by 2025 in the United States. This increase in online shopping is due to different factors such as the use of the latest technological devices like smartphones, laptops, tablets, etc., popularity in social media, online marketplaces, and altering consumer behavior.
Development of AI and Machine Learning
More and more organizations have started incorporating artificial intelligence and machine learning into their businesses, thereby promoting a smooth and personalized customer experience for their users who shop online. AI is taking over sales, marketing, and customer service to make online shopping more convenient for you.
According to Fast Simon, Inc. an independent US corporation, “AI can help merchandisers promote products they want to sell quickly, bury products that are not very important to be sold, and even hide products from customers’ eyes when they get out of stock by using search results page and autocomplete services for an enhanced customer shopping experience.”
Use of Augmented Reality (AR)
E-commerce has been completely transformed due to the development of Augmented Reality (AR). This latest technology allows customers to truly see the products they are buying, helping them make solid decisions and ensuring complete transparency in whatever they receive.
AR is particularly useful in fashion and home décor industries since buyers can get a better feel for the products they want to purchase even without seeing them in real life.
Growing Demand for Customization
Providing customization facilities by companies to their online shoppers has become essential due to its increased demands. Personalization can be done by custom packaging based on the shopper’s preference and giving the users customizable services and products.
Many online retailers have started doing surveys and quizzes to understand their customers’ needs, wants, and requirements to provide them with a better shopping experience.
Rising Trend in Mobile Shopping
Many people like to shop online when they are bored and have nothing else to do. They mostly resort to shopping through their mobile phones due to the convenience. Therefore, having mobile-friendly sites can increase your sales and audience. You can also develop mobile apps for your business that allow customers to shop and check out easily, bringing them back to shop next time.
Additionally, even if the purchase phase is the most important aspect of mobile commerce, it is not simply about buying. Mobile channels are used by customers at various stages of the purchasing process. For instance, when purchasing gifts during the Christmas shopping season, consumers consult internet gift recommendations and read online reviews.
The key lesson here is that you need to make your eCommerce website mobile-friendly. As the digital world evolves too quickly, always keep the customer experience at the forefront of your thoughts both throughout and after the design process. Watch for emerging trends and new technology to implement the appropriate adjustments.
The Need to Provide Diverse Payment Options
Offering more than the basic payment options like accepting checks and cards to the customers to pay for their shopping makes their experience better with you. You should consider having flexible payment options with no added fees for your customers to gain their trust and ensure a smooth and comfortable shopping experience, for example, having the facility to pay cash on delivery.
Increasing Sales Via Social Media Platforms
Many companies have started giving advertisements on social media platforms like Instagram, Facebook, YouTube, etc., since these are used by almost everyone nowadays. These social media pages act as sales channels and have become marketplaces themselves, permitting visitors to search for products and even purchase them from the companies without having to leave the app they were initially using.
The major reason why influencer marketing is favoured is that it raises brand recognition because it has a wider audience and more visibility. Additionally, it enables a more varied strategy for the brand’s content generation. While it is true that many firms claim they use influencer marketing primarily to get exposure and raise brand recognition rather than to increase sales, this may change if platforms on social media enable shopping. Due to its quick return on investment, intelligent targeting of the appropriate online audiences, and effective advertising, celebrity endorsement is quickly becoming one of the most sought-after marketing channels for eCommerce companies and shops. Customers frequently see influencer marketing as good word of mouth and are persuaded to try
Online shops are the new trend for making sales and earning business revenue. Businesses need to keep up with the latest trends in online shopping if they want to grow and increase their sales. Understanding what trends go with your style of business and its vision, goals, and ideas can help you have more relevant and competitive sales and marketing campaigns. This is feasible with the aid of intelligent, user-friendly retail tech and AI solutions, as well as a consumer-centric, digital-first retail strategy that supports your objectives and future-proofs your company.