Rising eCommerce Trends You Should Look Out For in 2023
The eCommerce sector has grown rapidly in popularity in recent years due to more customers gaining interest in online shopping during the pandemic. Although COVID-19 restrictions have been mostly lifted, the popularity of online shopping is expected to continue as worldwide retail eCommerce sales forecast is expected to grow from $5 trillion to more than $8 trillion by 2026.
Unsurprisingly, the number of eCommerce small businesses and online sellers has grown exponentially too. However, as businesses are starting to enjoy the benefits of having an eCommerce website, there is still no guarantee that every business will succeed. As the number of competitors increases and customers’ expectations keep changing, it is essential for business owners to know the latest eCommerce trends to stay relevant. When businesses are aware of the upcoming trends, they can prepare their business to take advantage of future opportunities and minimise damage from potential risks.
Read on to discover the top eCommerce trends of 2023 that will help you stay ahead of the competition.
1. More payment options
Traditional payment methods are expected to give way to digital solutions in 2023, causing the online payments industry to evolve. Besides payment using credit/debit cards or NETSPay, businesses are now normalising other payment methods such as PayNow, ShopeePay, GrabPay, Alipay, Google Pay and more.
This improvement is primarily due to mobile wallets’ increasing popularity, allowing customers to store their payment information securely and make payments using their mobile devices. At the same time, as various payment methods are now available, businesses must reassure that their customers’ payment information is safe from hackers.
2. Mobile shopping
Although mobile shopping is not a new trend, it is expected to be bigger than ever in 2023. Businesses must ensure that their website can adapt to whatever device is used to access the site, especially mobile devices, as it allows for an optimised customer experience.
An optimised website includes a responsive design that adjusts itself based on the device’s size and features, such as touch navigation, making it easier for users to navigate the website with their fingers. Businesses must also ensure their website speed is fast to enhance the user experience.
3. Personalisation
Personalisation is expected to become of the most significant eCommerce trends in 2023. It allows customers to have a tailored experience based on their preferences, needs, and interests. Businesses can offer personalisation by using customer data to create unique experiences and build customer loyalty.
Personalised customer interaction can be achieved through a custom best practices eCommerce web design, high-resolution photos, and a club membership for frequent buyers. Businesses can also use personalisation to send customised push notifications and emails or create personalised product recommendations.
4. Customer service
In 2023, customers are looking for availability in customer service before and after a sale. Businesses must have responsive customer service options that are effective in solving problems. Customers need to know that the company they are engaging in is willing to listen to their problems and address their concerns.
Although it is unrealistic to have a human being available to answer questions 24/7, businesses can look into new technologies such as chatbots. Companies can also consider using familiar channels such as WhatsApp to communicate with customers conveniently.
5. Sustainability
Consumers today seek ethical brands aligning with their values as environmental concerns rise. Businesses should take the time to try and find ethical suppliers for their products as customers are paying attention.
Consumers will also look for businesses that will reduce their carbon footprint in 2023. As major corporations such as Adidas, McDonald’s and Zara have made an effort to reduce plastic use, smaller retailers should also consider making a difference to promote a positive message to their customers.
Conclusion
The eCommerce sector is set to continue its growth trajectory in 2023, and businesses must stay updated with the latest trends to remain relevant and competitive. From more payment options and mobile shopping to personalisation and sustainability, businesses must adapt and implement these trends to enhance the customer experience and build brand loyalty. With the right strategies, businesses can take advantage of upcoming opportunities and minimise risks in the ever-changing eCommerce landscape.
MIBC is a website creation company that offers PSG eCommerce for web development to ensure your business stays on top of the latest eCommerce trends in 2023. We also provide CRM software for small businesses in Singapore. Reach out to us today to learn more about our services and solutions.