The number of online card payments in the United States has been on a steady rise over the years. According to recent statistics from the US Department of Commerce, online shopping has seen significant growth, with approximately 360 million online shoppers in the US in 2020. Ignoring this trend means missing out on the chance to achieve great success in business. To stay competitive, it is essential to adopt modern trends and cater to the ever-evolving needs of customers. To develop a growth strategy for your online store in 2023, we have compiled some practical tips that will help you increase sales.
Why is it important to apply trends in online commerce?
Companies that have undergone digital transformation predict twice the growth of those that have not. This is the result of a global survey by the research company Valoir, in which 1,400 companies participated.
Digital transformation should not bypass online commerce, primarily due to the “migration” of customers to the internet. If you are not present on all the channels your potential customers use, just two clicks will take them to a seller who is ready to meet their needs in the modern age.
To avoid this scenario, below are the e-commerce trends for 2023.
E-commerce trends for 2023
Some e-commerce practices have been around for some time and will continue in this year, while there are also a few novelties that should definitely be followed:
- Artificial intelligence
- Augmented reality
- Live shopping
- Product search by nearest location
- Presence on all channels
- Social media as sales channels
Artificial intelligence
Every online store that intends to be successful and long-term in the market should apply solutions based on artificial intelligence (AI).
AI affects the business’s ability to offer a better customer experience, make the offer personalized, and optimize overall operations, from inventory management, through ordering to payment.
Specifically, the benefits of using artificial intelligence are as follows:
- Improved customer experience
You have probably already encountered chatbots. When you enter the homepage of a website, after a few seconds a space appears where you can type in a question and send it.
This is actually a chatbot whose task is to provide 24-hour customer support to interested clients. Some responses can be automatic, but also more concrete, based on the ability to recognize natural language or script.
Customer support of this kind is very useful because modern customers expect real-time responses. In addition, chatbots are a more cost-effective solution than customer support agents.
In addition to the role of customer support, chatbots can also recommend products and thus move page visitors towards purchasing. For example, if a user enters a question related to winter boots, the chatbot can suggest the best-selling boots from your site and also offer socks as a suggested additional purchase.
- Personalized offer
Imagine being able to offer each visitor to your site exactly what they are interested in at every moment. With the help of AI, this is becoming a reality.
By analyzing a large amount of data, AI can create personalized product recommendations for each individual user. This is based on their previous purchasing history, product searches, and even their behavior on the website.
In this way, customers are offered exactly what they are looking for, increasing the likelihood of a sale. In addition, this personalization increases the loyalty of customers to the brand, as they feel that their needs and preferences are taken into account.
Augmented reality
When it comes to the application of new technology, it is important for e-commerce businesses to mention the technology called “augmented reality” (AR). If you apply this in your business, you will certainly offer potential customers a unique experience and a chance to stand out from competitors.
In fact, it is the ability for potential customers to try out your product in 3D dimensions before deciding to purchase it. Creative, 3D studios for augmented reality can create 3D models of all your products, place them on your website, and with the help of the appropriate application and code, allow users to use them virtually.
For example, if you want to buy a new armchair, thanks to augmented reality, you will be able to see how its 3D model fits into your living room. This is possible because the 3D model can be placed in the corner of the room you want, and moved until you see if it is appropriate.
Live Streaming Shopping
How can you make product promotion more attractive? With so many online stores offering the same products as you, this is one of the key questions.
According to numerous marketing researches, video content records greater audience engagement. However, in addition to recorded video content, it is even better to occasionally organize live streams.
Namely, in a live broadcast, presenters can demonstrate the use of the product and show all its benefits. On the other hand, potential customers can ask questions, leave reactions, and almost get a shopping experience as if they went to the store.
By introducing “live shopping,” you will increase interaction with the audience, stand out from the competition, and increase revenue.
Product search by the nearest location (Google Local Inventory Ads)
Google Local Inventory Ads is a trend that is yet to gain ground in the years ahead. It is available in about 20 countries worldwide, but its wider application is expected in the future.
It is about the possibility for users to find a specific product in the nearest store by searching for it online. The idea is to shorten the search time for users, by enabling them to search online which store closest to them has the item they have in mind.
Here, therefore, it is not about classic online shopping where the product is ordered online, but about searching for a product online and the Google app showing in which store it is available.
Presence on all channels
We admit that it is challenging to administer all communication channels with customers, but it is the only way to reach as many potential customers as possible.
Let’s take the example of selling clothes for multiple target groups. Each of them has a favorite channel they use, and you need to be active on it.
Website, i.e., online store, Facebook, Instagram, TikTok, email, telephone sales – be present on all of them because you do not know on which one a potential customer will notice you.
Social media as sales channels
Social media were initially used as a channel for promoting and raising brand awareness. However, with their increasing popularity, they have become places where direct shopping takes place. Facebook and Instagram are the most popular platforms for eCommerce in Europe. Both platforms offer features that allow businesses to showcase their products and drive sales directly from their pages, such as shoppable posts and the ability to set up a storefront. Other social media platforms like Pinterest and Twitter also have eCommerce capabilities, but are not as widely used for this purpose in Europe.
This stems from the fact that it is easy for sellers to post products on networks, and for customers to order them quickly and easily. However, to attract customers on Instagram or Facebook, it is necessary to follow the following rules:
- Create useful and interesting content consistently
- Collaborate with influencers who will honestly promote your brand
- Use user-generated content (messages of praise sent to you by customers) as an indicator of your credibility to potential customers
- Use social media as customer support channels by responding to user queries
By following these tips, you will certainly achieve greater engagement with potential customers and increase revenue. Don’t wait too long to adopt this strategy because ignoring inevitable technological changes can have far-reaching consequences for your business.
