To remain competitive and relevant, online businesses must stay current on recent e-commerce trends and consumer demands. There are no restrictions on what an e-commerce store may accomplish. An e-commerce business involves more than just retail. Your store can sell anything online successfully if you get the latest e-commerce solution services.
Professional ecommerce development services allow you to use the latest e-commerce trends, such as chatbots and voice search. Let’s delve into these and other popular e-commerce trends in 2023.
Even in a virtual setting, conversational marketing is essential. Hence, e-commerce businesses should use chatbots to edge over their rivals. These virtual assistants offer alternatives to live chat through social media, text messages, and your website. These AI-driven bots are available 24/7 and significantly enhance your e-commerce marketing efforts because they are incredibly user-friendly. Studies show that 65% of customers are comfortable handling a sales-related problem independently. Additionally, due to their prompt responses, 69% of customers prefer chatbots to other customer support.
The use of chatbots is likely to grow during 2023 and beyond, making it one of the most important e-commerce trends. Integrating a chatbot elevates your sales and marketing efforts.
For daily tasks in 2023 and beyond, many consumers will use voice assistants and smart speakers for daily purchases. Instead of checking product reviews, they prefer to ask Siri and Alexa for product recommendations. That’s why e-commerce companies use voice search to boost revenue and promote their marketing strategy for improving customer experience.
Combining semantic search with conventional SEO allows e-commerce store owners to improve search results.
Today’s online merchants use everything from product explainer videos to testimonials in their marketing offers. That’s because video is huge in e-commerce. Adding it to your marketing campaign makes tremendous sense because 93% of consumers find video helpful for their product search.
According to statistics, it is impossible to overlook videos’ impact on customer behavior and purchase patterns. While 84% of consumers acknowledge that brand videos significantly influence purchasing decisions, 80% of marketers directly attribute more significant sales to video marketing initiatives. Additionally, individuals like watching videos over reading product descriptions.
Other compelling benefits of video marketing include the following:
- More Engagement: Attract customers’ attention and keep them interested in your brand.
- Increased Conversion Rates: Videos allow you to show off your products and visually represent their features, benefits, and applications.
- Increased Brand Awareness: Showcasing your brand’s message through video marketing allows you to build an emotional connection with your audience.
- SEO: Videos can have a significant impact on your search engine optimization (SEO) efforts, as well as your search visibility.
- Social Media Reach: Videos are easy to share and frequently do well on social media sites.
Credibility and Trust: Product tutorials and videos help you build credibility and trust with your customers.
Live streaming keeps growing, providing a fresh and unique approach to market products to curious and demanding potential customers.
It is an updated version of conventional TV shopping. Brands and e-commerce businesses can use their preferred social media platforms for live streaming.
While it is a growing concept, e-commerce experts predict this trend to reach nearly $35 billion by next year. The trend will become so common that by 2026, experts predict, 20% of all e-commerce revenue will result from live streaming.
Today’s consumers are tech-savvy and intelligent. They may become loyal customers if they have a positive customer experience with a brand. However, if an e-commerce store wants to retain its customers, it must give them something more tangible, like a loyalty program.
This trend retains its popularity because it compensates loyal clients for repeated purchases. As a result, a store’s most loyal customers may be entitled to savings, cash back, and coupons for their next purchase. This way, customers stay involved and continue to make further purchases.
Some benefits of loyalty programs include:
- More sales
- More engagement
- Word-of-mouth referrals
- More insights into consumer behavior
Renowned e-commerce brands use valuable data from their loyalty programs to get to know their consumers better. They can also predict buying behaviors to present special offers to their customers.
One-time customers are crucial to the traditional eCommerce business strategy. However, research findings suggest that this trend may only become bigger. Between 2021 and 2022, revenue from e-commerce subscriptions increased by about 70%. By 2026, experts predict it will be close to $1 trillion.
More than half of consumers on the market are now subscribed to at least one physical subscription box. Personalization, convenience, and value are among the top three reasons for subscribing to this service.
The term ‘eco-friendly’ is no longer a marketing buzzword. It’s more of an opportunity to create a unique value proposition for your e-commerce store. But there will soon come a time when it becomes a requirement for getting more customers.
Becoming a sustainable e-commerce store is a smart business move and the need of the hour. Two-thirds of consumers base some of their purchasing decisions on a store’s environmental friendliness. Younger consumers are more likely to shop more from eco-friendly businesses.
Sustainable e-commerce stores revolutionize industry norms by focusing on reducing adverse effects on the environment. That means making their transportation, waste management, and packaging methods ecologically efficient. Hiring the right e-commerce development services, they can become more eco-friendly.
In simple words, it’s getting imperative for e-commerce businesses to have a more sustainable business approach. All actions they take today may have a more significant impact in the future. Choosing improved delivery alternatives to selling sustainable products and ensuring less packaging waste, there are many ways to adopt sustainable practices.
Here are some ways your store can become environmentally friendly.
- Avoid or reduce packaging waste
- Give back to the environment
- Manage returns and deliveries consciously.
- Promote and sell products that promote sustainability
BNPL: Buy Now, Pay Later
Customers often like certain products but hesitate to buy them because they need more cash to spare. That’s where this e-commerce trend comes into the picture. It’s common for most of today’s e-commerce stores to add this option to take advantage of potential customers.
That allows consumers to buy a product they like but pay for it in regular installments. This way, they won’t have to spend a considerable amount upfront.
Nearly 39% of today’s consumers choose to use this option over credit card purchases. Generally, BNPL offers are interest-free, but some stores may charge a small interest rate for this option. Research findings reveal that people between 25 and 44 will likely buy products covered by this payment method.
Popular payment that facilitates BNPL transactions includes PayPal, Klarna, and Affirm. In addition, Mastercard has also introduced Master Pay Installments, a ‘Buy Now, Pay Later’ scheme for consumers who can’t pay upfront for their purchases.
E-commerce stores are adopting the BNPL model since it offers these benefits:
- A boot in sales
- Reduced card abandonment rates
- Easier and quick checkout process
Some famous names in the e-commerce industry that offer this option include Shopify. The platform offers a BNPL plugin for its consumers called Shop Pay Installments. Hence, online retailers don’t need to integrate a third-party BNPL provider if they use Shopify for building their e-commerce platform.
Without a doubt, personalization will play a crucial role in custom e-commerce development in the future. Statistics reveal that more than 60% of consumers will likely become loyal if a brand offers a personalized shopping experience.
Hence, e-commerce stores will adopt personalization to create long-term and meaningful customer experiences. On-site search personalization refers to customizing search results for each customer, considering their past purchase, profile data, etc.
Nearly 43% of customers turn to a website’s search bar to make a purchase. For that reason, investing in search personalization will be an important way to make information accessible and retain customers. According to a study conducted in 2022, around 88% of consumers will purchase a product online if the brand or store provides a personalized experience.
To improve the customer experience, online retailers and stores must use customer data for more than just marketing and website performance analysis. Some common examples of personalized marketing campaigns in the e-commerce industry include customized landing pages according to customer demographics and product recommendations according to a buyer’s browsing and purchasing history.
Another common way to adopt this trend is by designing targeted email campaigns. Sending personalized offers on special occasions such as birthdays or anniversaries is common for many e-commerce stores.
How to Prepare Your E-Commerce Store for 2024
None of the e-commerce trends mentioned in this blog post would surprise seasoned marketers and veteran e-commerce store owners. All these trends are part of the evolving e-commerce industry and increasing consumer expectations. The key is to identify the best and most feasible trends for your e-commerce store and make them a part of your branding strategy for maximum profits.
Luckily, you are not alone on this journey. Professional e-commerce development services can help you extend your reach and earn profits.
If you are looking for reliable e-commerce solutions services for your online store, Inelvue provides the best e-commerce development services to help you thrive. Get the best e-commerce solution services at the most affordable rates. Our expert and seasoned experts provide professional web design/development and chatbot development services in USA.
We utilize the best e-commerce platforms for future-proofing your website/store. Contact us today to get affordable yet high-quality e-commerce solution services.
What is an E-Commerce Solution?
E-commerce solution services provide customized e-commerce development solutions. These solutions are software and technology tools for helping businesses sell services and products online. For example, some common examples of e-commerce solution services include the creation of an online storefront or a website, payment processing systems, a shopping card, and inventory management tools.
What is an Example of E-Commerce Services?
The most famous example of an e-commerce platform is Amazon.com. It is the biggest online marketplace in the U.S. Other famous examples of e-commerce services that have made it big include eBay, Flipkart, Mynrtra, etc. However, e-commerce extends beyond physical products and can include the distribution and sales of digital products such as software, online courses, e-books, music, etc.
What are the Services Provided by an E-Commerce Company?
An e-commerce company may sell web design/web development and SEO services and software. Such companies offer SMO (social media optimization) or PPC (pay-per-click) services.
How Secure are E-Commerce Transactions?
The most reliable e-commerce platforms and websites use strict security measures to protect client information and transactions. They also integrate reputable payment gateways, like PayPal, Stripe, or other popular third-party payment services. These gateways securely handle the payment process, lowering the possibility of credit card fraud and safeguarding personal data.
Which is the Best E-Commerce Platform?
Some of the best e-commerce platforms include BigCommerce, Shopify, WooCommerce, Magento, etc.
How Long Does It Take to Develop An E-Commerce Website?
E-commerce sites may have many products or only one. If you ask any e-commerce solution services company, they will tell you that it will take longer to build an e-commerce store if you want to list hundreds of products.