8 eCommerce Trends you Must Know in 2023

In the realm of the digital business era, it is crucial to stay updated with the latest trends to remain in competition and generate profit. When it comes to eCommerce business, adapting to new technologies and understanding consumer patterns can be a daunting task. 

If you are into eCommerce business operations, this blog post helps you inform about the key e-commerce trends in 2023.  These trends are expected to transform the landscape of online shopping and will affect both businesses and consumers significantly. Considering these eCommerce trends is vital to stay in competition and deliver enhanced consumer shopping experience. 

Let’s have a look at the 8 latest eCommerce trends.

ReCommerce 

ReCommerce refers to the process of buying or selling pre-owned products online. Over the years, the number of dedicated reCommerce marketplaces has increased and they have expanded their business model. Nowadays, these sites offer more than just buying and selling services. They also provide additional services such as installment payments, product recovery, delivery and installation.

One such platform that focuses solely on reCommerce is Vinted. It enables users to sell or purchase used clothing items. Additionally, some brands have also started offering second-hand marketplaces directly on their online stores.

For instance – Poshmark website and app allows users to post all kinds of clothing and accessories for sale provided they are in good condition. 

Interactive Shopping 

Live shopping is a recent trend that enables online shoppers to purchase products in real-time. This trend is gaining popularity as it allows customers to establish a connection with their favorite brands and receive expert advice while shopping. For instance, Amazon's live shopping feature allows content creators and influencers to livestream and sell products directly on the platform.

Certain e-commerce websites provide additional live shopping features, including virtual assistants and appointment booking systems, which allow customers to schedule a video conference with a consultant in-store.

Sustainability

Responsible ecommerce involves integrating sustainable development practices into a company's operations, including waste management, reduced energy consumption and raw materials usage, and increased transparency in production and delivery conditions. With the growing awareness and concern for environmental and social issues, consumers expect ecommerce companies to take action, making it a trend that is here to stay. 

In response, many ecommerce organizations have already incorporated this approach into their business model, with some even obtaining BCorp certification to demonstrate their commitment to sustainability.

Social Selling 

Social selling is a method of selling that involves leveraging social media platforms to establish connections between potential customers and influencers with the aim of motivating them to make a purchase. This technique is highly beneficial for B2C businesses as it enables them to focus on customers' interests and purchasing habits.

Social media networks such as Facebook, Instagram, TikTok, YouTube, and Twitter are continuously improving their features to provide a more effortless shopping experience for their users. 

TikTok, for instance, has launched 3 new type of shopping ads with expanded positioning options that go over TikTok’s ‘For you’ page.  

By 2023, the shopping process on social media platforms will be quicker than ever before to boost conversions.

V-Commerce 

V-commerce also termed as Virtual commerce is a subgroup of eCommerce is a transaction of products within the virtual world. V-commerce aims to enhance the consumer shopping experience. 

Examples of V-commerce can be Artificial intelligence (AI), Virtual reality (VR), Augmented reality (AR). Voice assistant commerce (V-Commerce) is an increasingly popular trend in ecommerce. 

According to Stylight, it is no surprise that V-commerce (VR retail solutions) is expected to be a $5.5 billion market. 

Consumers are using these devices not only to make purchases, but also to read product reviews, compare prices, and track their orders. To keep up with this trend, online merchants need to adapt their stores by incorporating voice-search tools into their search engines.

Multichannel eCommerce 

Multi-channel selling is a business tactic that involves selling your products or services through various distribution channels. This approach allows companies to expand their presence across multiple platforms and ultimately increase their chances of reaching a larger audience.

In the past, many ecommerce sites relied solely on their website and social media platforms to sell their goods and services. However, in recent years, more and more companies are adopting a multi-channel approach to minimize risk and broaden their reach. Many are choosing to sell on popular marketplaces such as Amazon, Walmart, Best Buy, and others.

Subscription 

An ecommerce subscription model is an online store that requires customers to pay a recurring fee, either monthly or annually, to access a product or service. This model is popular among various industries, from streaming services like Netflix and Spotify to consumer goods stores such as food and hygiene products. The trend of subscription-based businesses is on the rise and is projected to continue growing until 2023.s

Recharge is an application that e-commerce sites use to set up a subscription program in a simple and effective manner. This model is highly advantageous for merchants as it offers a nearly guaranteed, recurring income.

Omnichannel commerce 

Omni channel is currently a popular trend that shows no signs of cooling down. It refers to a type of commerce that integrates multiple channels of communication and distribution, such as physical stores, websites, social media, marketplaces, and mobile apps, to sell products to customers.

Shopify and other similar solutions aim to help businesses provide a seamless experience across various sales and communication channels. This is achieved through tools like the Shopify POS suite, which allows for a consistent and standardized experience across all channels.

In Final Words 

These were the interesting eCommerce trends that will certainly help in opening the opportunities for eCommerce merchants in 2023 and beyond.  The eCommerce industry is on a positive track as customers and technology continue to evolve. Our analysis of the latest trends suggests that the industry will continue to grow in the future. As a business owner, it's up to you to decide which trends to follow to enhance your eCommerce venture and achieve success.

IBR Infotech can be your eCommerce Service Partner 

If you are stepping into the eCommerce business or already in existence seeking for an eCommerce web design and development solution, IBR Infotech is a leading eCommerce web development company to assist you in your eCommerce project. 

IBR Infotech offers tailored ecommerce website development solutions that feature bespoke and adaptable designs for renowned platforms such as Magento and WooCommerce, Big Commerce etc. 

If you want to find out more about working with our accomplished team of project managers, web designers, and developers, schedule an online meeting with us and we would be glad to assist you.