The Ecommerce industry continues to evolve and experience accelerated growth. New ways of shopping were being introduced five years ago, but the global pandemic not only expanded consumer shopping options but made them realise they could shop for whatever they wanted with the single click of a button.
The introduction of AI in shopping has no doubt presented businesses and consumers with new ways to present their experience and shop. The metaverse is introducing an alternative to shop in a virtual world, whilst mobile shopping becomes more easier and convenient by the day.
The future of online selling is set to take-off once again in 2023, but what trends can we expect to see?
Voice Shopping will continue to grow
48% of UK households ere predicted to have smart speakers by 2022, according to ReadyCloud. Current statistics show that 41% of adults use voice search at least once per day. With this increase in voice searching, consumers are likely to use voice to conduct their shopping activities.
Amazon Echo is currently leading the way in the voice commerce space, with 8% of UK household owning the Amazon speaker, compared to just 2% who have a Google Home. (OC&C Strategy Consultants). In 2023, we expect this trend will continue to rise.
Mobile commerce is not slowing down
60.1% of consumers use their smartphones for online shopping. The mobile payment market is projected to surpass $4.57 billion by 2023. (Fashion Discounts)
Mobile commerce has grown rapidly in recent times, and we continue to see even more growth in 2023. There is undoubtedly a convenience from shopping from a mobile phone and tablet; and with social commerce entering the scene, this has presented more opportunity to shop from various social media platforms. Mobile apps are being developed to allow consumers to shop directly from the app, making this a popular avenue for shoppers.
With the rise of mobile use, retailers must ensure they adopt a mobile-first approach for their Ecommerce website to make sure they’re providing a great mobile experience for users. Along with usability, brands are investing mobile wallets and payment method as well as SMS Marketing and Push Notifications to reach their customers.
Increased AI in Ecommerce
Shopping experiences are becoming increasingly personalised, and with the continuous influence of AI, we expect to see more of this trend in 2023.
Just as voice search is influence the habits of consumers, AI plays a big role in gathering the required data to provide personalised recommendations to consumers based on their shopping habits. The use of chatbots is aiding the customer service experience; reducing the need for human contact for the majority of the customer journey.
AI is not only being used for personalisation, but from a business perspective, it is providing solutions to business processes and workflows, customer service, and fraud prevention.
Having highlighted the impact mobile is having on Ecommerce, Omnichannel selling is a big part of that. Businesses found increasing ways to interact with their customers in 2022; whether it’s in-store, online or via phone.
Retailers that run loyalty programs are able to retain customers due to how seamless the process is to access reward accounts and pickup points.
McDonalds launched their loyalty scheme in 2022 where customers can earn 100 points for every £1 that they spend, allowing them to unlock a variety of exciting prizes and treats. They can pick up and use the points when ordering online or when purchasing in-store.
Disney’s whole booking experience could be seen a success. After a visitor has booked their Disney World resort visit, they can plan every minute of their trip through the My Disney Experience tool. They can use the mobile app to locate attractions they earmarked in the experience tool and see estimated wait times for each attraction.
In 2023, an omnichannel Ecommerce solution is vital. Businesses will continue to use tools that track and collate customer activity across multiple channels to understand the unified experience that today’s shoppers expect as standard.
Social media to continue influencing Ecommerce activity
Not only has social media become another way for consumers to purchase items, it has also become a popular way for brands to identify and interact with their target audience. Thanks to the social commerce boom, more brands are able to advertise products through Instagram and TikTok, and consumers can purchase with one click.
A trends report by Checkout.com revealed that almost two-fifths of younger shoppers buy whilst they scroll, with 39% of shoppers aged between 18 and 35 more likely to buy from a brand through its social media channels. Instagram Checkout can be used by sellers to sell directly through the app.
Clickable stories, post and reels are available across all major social media channels, and it will become very difficult for retailers to not continue to take advantage of this in 2023.
40% of shoppers (or 63% of those aged 16-24) would actively improve their purchasing in-store if QR codes became mainstream. (Sherwen Studios).
Could we see this trend continue in 2023?
Sustainability has been highlighted as one of society’s core issues in 2022, and Ecommerce businesses will be making this their priority in 2023. A focus on Green Consumerism as being environment-friendly will influence online sales among Millennials in the years ahead.
56% are less inclined to buy from a retailer again or would look for a different retailer in the future if delivery packaging wasn’t sustainable or resourceful. (365 Retail)
Some of the sustainability trends Ecommerce brands will be looking to take advantage of include:
Data and AI boost environmental projects
Cloud driving sustainability
Ethical supply chains
More brands will be developing sustainable strategies in 2023, in order to be appealing to consumers, in particular Gen Z consumers. According to Statista, sustainability is the purchasing factor for 22% of Gen Z consumers. As brands increase their efforts to reduce their environmental impact, switch to more efficient technology, ensure the wellbeing of their staff, and conduct business responsibly; brands who don’t make sustainability a priority will be left behind.