Ecommerce Trends For 2023
In the last three years, there have been many changes in the world of eCommerce. In 2020 and 2021, more people shopped from home than ever before. This raises questions about which changes are temporary and which will stick around.
In this blog, we’ll be taking a look at the most prevalent eCommerce changes & trends to expect in 2023.
1. More payment options
There are a variety of new payment options that online consumers can use to buy from your store. In the current climate, an increasing amount of online shoppers are taking advantage of “Buy Now, Pay Later” options such as Klarna. Additionally, the number of shoppers wishing to pay with cryptocurrency options is also on the rise. You can add both of these payment options to your Woocommerce store with the Woocommerce Payments extension. By offering a variety of payment options, you can make it easier and more convenient for customers to buy from your store. This will ultimately lead to increased sales and growth for your business.
2. Increase in online ad costs
As online ad costs continue to rise, businesses need to focus on improving customer retention strategies in order to save money. This is because it costs less to market to existing customers than it does to pursue new ones. Businesses need to focus on strategies such as providing excellent customer service, developing loyalty programs, and offering discounts and promotions for returning customers. By doing this, businesses will be able to keep their customers happy and coming back for more, which will ultimately save the business money in the long run.
3. Multiple review options for customers
Online reviews are becoming increasingly important to consumers, as they want to be sure that businesses will provide good service. Your online reputation is critical, so asking your best customers for reviews regularly through email marketing is important. Make sure you include links to review sites like Google, Yelp, and Trustpilot on your website or other digital properties. This way, it will be easy for customers to leave feedback. Also, consider adding industry-specific review sites that are relevant to your products or services.
4. Online Ordering flexibility
Customers want additional choices and selections when they buy items online. This could include split orders, pre-orders, in-store pickup, or ‘clicks to bricks’ – a way of merging an online store with physical selling. If a product is unavailable, customers should be given the option to be notified when it becomes available again. Lastly, accurate shipping date estimates are important for pre-ordering; furthermore, send email/text updates about the status of an order if something causes a change in the original estimated shipping date.
5. Chatbots for customer service
Since customers want answers to their questions quickly, chatbots have become a popular customer service tool. They can provide quick and easy answers to common questions 24/7. This frees up your customer service team to focus on more complex issues. Additionally, chatbots can be used to proactively reach out to customers with shipping updates or order information. You can also use them to upsell and cross-sell products. Overall, chatbots can help improve the customer experience and increase sales.
6. Less control over online targeting
eCommerce businesses need to focus on owning their own media and building their in-house marketing lists, as online advertising is becoming more costly and harder to track. This includes growing your email subscriber list, using direct mail, and targeting physical mailing lists. Doing this gives you more control over your marketing and advertising costs while retaining customers and increasing lifetime customer value.
7. Brand ambassadors
Social media influencers are a viable new marketing channel, as they have large online followings that match well with many brands. Paid brand ambassadorships can lead to significant profits. It is important to find an influencer whose audience aligns well with the products being marketed in order to see success through this strategy.
8. Sustainable business practices
Nowadays, more and more people are becoming environmentally conscious. This includes younger generations looking for businesses that try to mitigate their impact on nature.
E-commerce businesses can be eco-friendly by focusing on their packaging and shipping processes. For example, they can choose materials with less environmental impact or find more efficient methods within their manufacturing and fulfilment processes. Additionally, they can handle returns responsibly, such as reselling them, donating them, or repurposing them. Finally, they can add a section about this to their About page or create a whole new page on the site devoted to it. Additionally, they can include a couple of sentences about being eco-friendly during the checkout process as another incentive not to abandon the cart.
eCommerce businesses need to focus on a variety of strategies in order to be successful in today’s market. These ten tips provide a good starting point, but many other things can also be done. It is important for businesses to stay up-to-date on the latest trends and changes in the industry so they can continue to grow and succeed.
In order to stay ahead of the curve in eCommerce, it is important to be aware of the latest trends. However, you don’t need to follow every trend; by focusing on improving your customer service and operations, you may just stumble upon your own trend!