In recent years, e commerce has become increasingly consolidated, especially after the coronavirus pandemic. This is how new e commerce 2023 trends and projections have emerged in 2023. Here we leave you the most interesting ones. Keep reading!
Before learning about the trends and projections of e commerce for 2023, let’s quickly define what this concept is that has economic activity as its main characteristic. Therefore, e commerce is what allows the purchase and sale of products and services from digital media, such as web pages, mobile applications and social networks.
2022 was not seen as an easy year for e commerce and the economy in general. The world had been coming out of the coronavirus pandemic and in most countries the economic situation was complex. However, the numbers continue to grow. According to the Statista site, retail e commerce sales will exceed US$5.5 trillion in 2022, while by 2023 the figure is expected to exceed US$6.1 trillion.
In fact, according to the report “Prospects and opportunities for the success of the regional expansion Asia-Pacific and Latin America” e commerce is expected to increase by 32% per year between 2022 and 2026
For this 2023 there are several trends that are expected after the consolidation that e commerce has had. Below we leave you the main ones.
Lately, payment methods have shown a diverse and varied market. Currently, e commerce has different modalities so that customers can pay for their purchases. Some allow more traditional payments such as cash if there is a physical store, use of credit or debit cards or digital apps. however, for this 2023 a new system called Buy Now Pay Later (which means buy now and pay later) is expected. This consists of receiving the product but making the payment on a monthly basis, without the need for the user to be part of the financial system.
An important item of e commerce is the delivery of the products and the dispatches will continue to adapt to the demands that customers ask for every day. In fact, it is possible that customers are increasingly demanding when it comes to receiving their products.
Since 2022 we have been able to see how the rising effect of inflation has been increasing prices, which causes changes in consumer purchasing habits. This is why a trend that will be seen this 2023 will be the concentration of spending on products that are essential or essential over categories such as travel, restaurants or luxuries. Due to this, online consumers will be more conservative and at the same time selective when it comes to wanting to buy a non-essential item.
Thanks to social networks and all the multimedia content that is generated, another trend that we will see in e commerce in 2023 will be to make live videos to show the products, interact more with the audience in order to increase sales. Likewise, the presence of Personal Shopper will be intensified. This is a digital consultancy that can be, for example, through a video call and that seeks to improve the customer shopping experience.
After Elon Musk acquired Twitter, the social network has faced various changes and one of those could be to encourage the social network to join e commerce. Meanwhile, Tik Tok since 2021 has Tik Tok Shopping, however in the coming months it could continue to grow in this area and they hope to launch an “innovative e commerce ecosystem”.
In 2021, the average abandonment rate of a shopping cart was 80.68%, a figure very similar to that registered during 2020 when it was 81%. This is why to prevent a future customer from not completing the purchase, companies are investing much more in artificial intelligence in order to optimize the checkout process as much as possible, making it as easy and fast as possible and thus increasing the number of buyers.
The vast majority of online purchases are made through smartphones. This is why companies are investing resources to improve the shopping experience through cell phones in order to make the sale as fast and comfortable as possible.
Thanks to artificial intelligence, there are already several brands that can recommend products in a personalized way or by voice search through intelligent chatbots. By 2023, this trend is expected to increase in e commerce due to how convenient it is for many people to do voice search on their phones.
For companies, having social networks is key to receiving feedback from their customers or future buyers. This is why by conducting surveys or contests, for example, the store can learn more about the public it is targeting and personalize the products they offer as much as possible.
In recent years, the criteria of sustainability, good practices and care for the environment have been gaining relevance in commercial operations. For example, some companies deliver are committed to the care and protection of the environment through the use of more sustainable and sustainable material. On the other hand, they make donations to projects or support foundations. This trend has been gaining ground and is expected to be very present in e commerce in 2023.
The world scenario for this 2023 is expected to be complex. As we mentioned before, world inflation and rising prices will impact trade in general, from essential products to everything that is of second necessity. According to the World Trade Organization in 2022 world trade lost momentum and this will remain low next year.
This is why by 2023 it will be very important to consider the different trends described above in order to differentiate yourself from the competition and attract customers.
Inventories are the documents where the goods that a company has in stock are recorded. The main objective is that you can have control of your sales in order to carry out an order, which will ensure better profitability in the company and will provide a good customer experience. In our blog you can find an inventory control guide.
For good inventory management, you must not only be organized but also have the correct amount of supplies and products in the right place and at the right time. In the end, what is sought is that the inventory delivers an order to the company. In addition, be more efficient in terms of the products offered in Stock and reduce operating costs.
One last trend or strategy that can be used in e commerce is the cross-platform strategy. This consists of preparing and delivering content on different digital platforms in order to be more efficient. This, with the aim of reaching the audience using different channels but without losing the initial objective, which is the sale of the product.
Avify offers an automated, organized and complete inventory so that you can order yourself in your businesses. Adding new technologies to your store is already a trend that you cannot stay out of.
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