The ecommerce industry is evolving constantly and those who want to remain at the top have to keep an eye on the trends. The same applies to aspiring entrepreneurs who want to establish a business and build a profitable venture. Failing to identify what is relevant to your business causes stagnation. If you are not careful, it will not take too long before you get overtaken by competitors.
2023 and beyond presents new challenges and interesting trends that will shape the state of ecommerce. This article will cover some of the more interesting ecommerce trends.
Freedom in Customization
Let’s start with freedom in customization. The idea applies to specific niches, but you do not want to understand what it means for consumers to have the freedom to pick what they are getting. In the case of custom merchandise, for instance, many stores have a predetermined set of available products. If you want to design your own t-shirt, hoodies, sneakers, and other merchandise, do not expect to find such an option in most stores.
Businesses that offer creative freedom are one step ahead of businesses that do not have such a feature. Considering how difficult it is to attract modern consumers, every little bit helps. If freedom in customization is applicable to your niche, then invest the necessary resources and have it.
Ever since digital voice assistants like Alexa rose in popularity, it has become clear how much people appreciate carrying out certain tasks via voice commands. Voice shopping is a result of that. If you want to shop online using your smartphone’s microphone, it would not be a stretch to expect that such a feature will be available to you, right?
Of course, voice search is expensive to implement, and the concept is still relatively new. However, there is no denying that it will be one of the most prominent ecommerce trends in the future, which means that starting right now and implementing the feature as soon as possible would be the right approach.
Social Media Commerce
Back in the day, most ecommerce business owners relied on social media as one of the primary marketing channels. The approach has changed in recent years. It seems like social media platforms are looking to implement marketplaces directly in them. Facebook is a good example.
Right now, you can sell directly on Facebook and eliminate one extra step by having a potential customer click a URL to get redirected to a landing page. Instead, they can now show without leaving the social media site.
It might take a while to set up a marketplace on social media, particularly if there are a lot of different products to add. Managing it is also an obstacle, but since so many people spend time on social media and plan to do their shopping there, it only makes sense to make the most out of the opportunity.
Abandoned shopping carts are one of the biggest challenges for online stores. Plenty of shoppers fill their shopping carts and proceed to the checkout, only to abandon them before completing the transaction. One of the main reasons why abandoned shopping carts are prominent is the fact that online stores lack payment methods.
A credit card and PayPal are usually the go-to options, but these two do not cut it anymore. It is crucial to implement as many different payment gateways as possible, so shoppers have the option to choose the most suitable payment gateway. In some cases, it might even be worth considering the cryptocurrency, though given how in decline crypto has been in recent months, the effort to bother with it might not be worth it in the end.
For many brands, traditional advertising is not working or not bringing the desired results. That is why it is so common to see more and more businesses reaching out to influencers. From YouTubers and Twitch TV streamers to social media celebrities and bloggers, so long as someone has the right audience and can be used to advertise goods or services, you can treat them as a potential source to raise brand awareness and increase profits.
There is also no need to rely entirely on big names. The current trend indicates that micro-influencers who have fewer followers than top influencers still offer value due to the loyalty of their audience and an excellent engagement rate.
Since ecommerce continues to grow, it is natural to keep up with the trend and try to adopt when necessary. If you run an ecommerce business and want to remain where you are or even move up, it is inevitable to make the necessary adjustments and keep up with relevant trends.