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Online retail sales are expected to rise in the coming years worldwide. While this is beneficial to eCommerce businesses, it also indicates increased competition. To stay ahead of the curve, businesses need to keep up with retail trends that will affect their success.
With this, we have compiled seven of the most significant e-commerce trends that are anticipated to shape the industry in 2023. Take some notes and see which strategies you can incorporate or are applicable to your own business.
Green and sustainable shopping options
Now that people are more sensible when it comes to environmental issues, consumers are more likely to choose things that benefit the environment. According to studies, sustainability is an important factor to four out of five consumers when making purchases and choosing a brand to support. With this data, hopping into the green and sustainable trend is just a smart move.
Start your journey towards sustainability by switching to eco-friendly packaging. If you have the means, it would be better to experiment with new and different alternative materials for your products. Plus, getting environmental certifications from prestigious environmental programs like ISO 14001 would be helpful in informing consumers about your sustainability efforts.
Voice-enabled retail experience
Ever since Google introduced voice search, almost every smart device now includes this feature. In fact, according to a recent survey, 35.1% of consumers use virtual and voice assistants on a daily basis. For sure, even you, have used this once or have talked to Siri and Alexa, two of the well known voice assistants.
Leverage this trend too by giving your consumers voice-enabled retail experiences. This not only makes it easier for shoppers to find the products and services they want but also increases access to people with disability or limited mobility. It's a simple, hands-free way of shopping that makes retail easier than ever.
Direct-to-consumer business model
Although the direct-to-consumer (DTC) model of business is not new, the pandemic increased its popularity. When compared to selling through third-party platforms, many manufacturers discovered that selling directly to consumers was more efficient and profitable. Getting rid of the third party can save money, which can be used to lower prices for products or put the money back into marketing and other aspects of the business. Plus, businesses and its consumers can directly interact under this model, which is beneficial in building relationships.
The key to this trend? A website! Build your business a website. It’s easier and affordable especially if you build it with a drag-and drop website builder like
iRepublic.
Tiktok marketing
Tiktok is a popular social platform where short-form videos can be made and shared. This app is notable for its addictive quality and high levels of engagement due to its personalized feeds of quirky short videos accompanied by music and sound effects. Additionally, TikTok was the first app to surpass three billion downloads since Facebook. With this massive impact, e-commerce companies are recognizing its value for social commerce and brand marketing campaigns.
Promote your ecommerce business on Tiktok by trying their paid advertising. They allow companies to display ad campaigns on the app and view real-time metrics and audience analytics! Aside from paid advertising, influencer partnership is also popular on the app. You can tie-up with an influencer with thousands and millions of followers and have them promote your product and services to their audiences. If you don’t want to spend much, you could also try organic brand content. Create contents about your brand consistently and creatively to gain followers and build an audience yourself.
Live selling
Live selling allows customers to ask questions, get answers, and make purchases in real time while retailers display their products through livestreams, usually on a social media platform.The interactivity of live selling is the main draw. As an ecommerce business, you can use this opportunity to showcase your products creatively, engage users, and close sales.
Shoppable video ads
Shoppable video ads have clear call-to-action and integrated action buttons into the videos themselves. These buttons can be linked to a landing page, a product page, or your e-commerce website. Some buttons even have an option to add to cart, which makes the checkout process even faster.
Some platforms that offer this type of advertising are Youtube through bumper ads and Instagram via stories.
Addressing Concerns About Data Privacy
In a recent study, 86% of Americans indicated that they were becoming concerned about the privacy of their data, and 68% indicated that they were concerned about the data that businesses collect.
Being open and honest about your company's data practices can actually help you win over customers. Your audience should be aware of the kinds of data you collect and have the option to give only what they want to. This demonstrates your company's concern for their privacy and grants them control over their data.
If you’re an e-commerce looking for ways to lead the stiff industry competition, talk to the experts at
iRepublic!
iRepublic is a cheap and easy website builder in the Philippines that can help you create and implement a fully effective, mobile responsive e-commerce business website. We create affordable websites with a wide range of
website design templates that you could choose from. Our expertise ranges from creating a website for business and website design to
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Contact us now and let’s make your business’ online vision happen!