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4 E-Commerce Trends You Will See More of in 2023

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4 E-Commerce Trends You Will See More of in 2023

Shoppers certainly have their pick of retailers when it’s time to buy. Besides choices involving products and services, consumers can bounce between in-store, curbside, and online shopping experiences.

When the internet became a widespread household amenity, e-commerce emerged as a trend.

In faat, it’s so commonplace now that shoppers buy from retailers that sell through both brick-and-mortar and digital channels.

As online sales become more and more prevalent each year, e-commerce is developing its own bent.

To keep yourself in the loop, here are four e-commerce trends you’ll see more of in 2023.

1. Supply Chain Optimization

When it comes to inventory management, online stores and their brick-and-mortar counterparts are horses of a different color.

With a physical store, products don’t just sit in warehouses and distribution centers.

They go on shelves and displays according to schematics, markdowns, and sales.

Products may move through a retailer’s supply chain according to visual observations of their selloff and existing inventory or backstock.

Brick-and-mortar retailers also supplement observations with historical data to forecast demand and desired inventory.

With online stores, the only thing to rely on is data since there aren’t physical shelves and visible foot traffic to inform inventory decisions.

As a result, e-commerce business models depend on real-time data and may engage in drop-shipping.

With drop-shipping, an online store doesn’t keep products in inventory.

Once a shopper buys something, a third party ships the product to the customer. A vendor takes care of managing and storing inventory, fulfilling orders, and handling returns.

With a complete e-commerce solution, an online retailer doesn’t have to absorb the overhead that comes with storing inventory.

These solutions will continue to advance as competition increases and consumers expect more value.

Online businesses can streamline costs and mitigate supply chain headaches, helping them expand and deliver better customer experiences.

2. Social Media Sites as Online Shopping Platforms

Move over store-branded websites and mobile apps. Social media sites are becoming a popular way for consumers to shop online.

Accenture predicts that global sales through social media sites will expand three times as fast as regular e-commerce sales by 2025.

The total value of social commerce sales in the U.S. will also top $79.64 billion that same year.

Online sales through social media include purchases shoppers make through platforms and links to a store’s product pages.

The growth in influencer marketing and online influencers’ product recommendations are reasons for social commerce’s takeoff.

Consumers are more likely to trust people they look up to or feel they know over the word of a company.

Ad jargon and sales slicks don’t always strike shoppers as authentic or trustworthy.

However, consumers may be more willing to trust companies that build authentic relationships and connections with them.

Online sellers looking to capitalize on social commerce trends can partner with like-minded influencers.

Beyond that, digital stores can use social media pages and communities to build relationships with leads and customers.

You might also promote relatable content with links to your product pages and offer live support on social media.

3. Voice Shopping

You probably know about voice searches via smart devices and maybe even use digital assistants to perform them.

Voice searches rely on artificial intelligence and long-tail keywords to decipher what someone wants to look up online.

While it’s natural to associate online searches with information, consumers aren’t limiting their quests to data.

Instead, people are using digital assistants and smart speakers to buy products.

It’s possible to order everything from a pizza to a new couch with voice searches.

This new development showed up on the radar a few years ago. In 2020, 27% of online shoppers had used a voice assistant, and the trend has only accelerated from there.

As the adoption of smart hubs and speakers continues to grow, more consumers will be using voice assistants.

It’s faster and more convenient than typing out a string of keywords in a browser or mobile shopping app.

Add the increasing capabilities of AI into the mix, and you’ve got a recipe for expanded use.

As AI becomes more adept at understanding language, its improved accuracy will make shopping via voice commands more enjoyable.

4. Consumer Value Takes Center Stage

Pull up any news site, and you’ll see a story about stock market turbulence and inflation woes.

Historically, concerns about the economy and rising inflation prompt consumers to trim their spending habits.

Whether that’s canceling barely watched streaming services or reducing discretionary purchases, conservative consumer behavior trends will impact e-commerce in 2023.

What this means for online retailers is that customers will be looking for more value.

Yes, it’s more convenient to order products for home delivery. But if shipping and delivery fees are too high, a buyer may opt to shop at a local store instead.

Likewise, shipment delays, higher online prices for identical in-store products, and out-of-stock items will lower consumer value. Any perceived convenience won’t be worth it.

Buyers may also change what they buy online because of inflation and budget concerns.

Besides opting for the basics and the essentials, shoppers might look for small ways to treat themselves.

They may not reach for their pocketbooks to get more expensive items like furniture, jewelry, or travel.

Instead, consumers might gravitate toward everyday pleasures that match their hobbies and interests, such as books, movies, and health products.

E-Commerce Trends

Online shopping is becoming more ingrained in everyday life. It’s an option and convenience that many don’t think twice about anymore.

Buying products and services online is as natural as going to a physical store. Sometimes it’s the only way to get what you want or need.

Growth in e-commerce and digital shopping channels keeps fueling trends that shape how and when consumers buy.

Some of the emerging and continuing trends to notice are supply chain optimization and social commerce.

These developments, along with voice shopping and an emphasis on consumer value, are what will influence online shoppers’ buying habits in 2023.

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