In 2023, the global eCommerce market is expected to total $6.31 trillion! As the world of eCommerce continues to grow, it's more important than ever for entrepreneurs and small business owners to stay ahead of the competition.
In order to make that a reality and ensure continued growth and customer loyalty, you need to be aware of the latest eCommerce trends and changes impacting the industry.
We know that this can be a challenge – things change so fast in the online world! So to make it easy for you today, we’ve laid out 9 key eCommerce trends right here in this article. From voice search optimization to eCommerce shipping strategies and returns, these are critical levers that you can tap into to make sure that your business stays a step ahead of the competition throughout 2023!
1. Voice Search Optimization
Voice search optimization is becoming increasingly important, as people use voice assistants to shop online. According to insider intelligence, more than 40% of the US population used voice search to find products in 2022.
By optimizing your website and content for voice search you can improve your chances of appearing in the top results when a customer searches for something. This is a great way to keep your business competitive and increase sales.
2. More Video Content
Video content is quickly becoming one of the most popular forms of content on the web, as more and more people are looking to video for information. Social Sheperd reported that 82% of global internet traffic came from video in 2022.
Incorporating videos that are informative and engaging into your eCommerce website can help you engage customers and keep them coming back for more.
3. AI and Chatbots For Customer Service
AI and chatbots are gaining popularity for customer service, as they can provide 24/7 support with quick response times.
23% of customer service companies are currently using AI chatbots with response rates of up to 40%.
With chatbots expected to generate more than $100 billion in eCommerce transactions in 2023, it's safe to say that implementing AI and chatbot technology on your eCommerce website is a great way to keep customers happy and increase sales.
4. TikTok eCommerce
TikTok has evolved from a popular video platform to a powerful social selling tool, with 35% of users having made a purchase through TikTok eCommerce.
Sellers have the ability to create their own TikTok storefronts that allow users to browse products and make purchases directly through the app. Even if you don’t create a storefront for your business, you’ll be able to add product links in your videos or in your bio, which allows users to discover the items they see in their feed and instantly buy them.
TikTok eCommerce is a shopping powerhouse; if your business isn’t already tapping into its potential, now is the time to expand your audience, boost sales, and start learning how to harness the power of TikTok to drive conversion rates through the roof.
5. Subscription Services
Subscription services are growing at rapid rates, as customers love the convenience and simplicity of having products sent to their door on a regular basis.By offering subscription services you can build loyalty amongst your customers and increase their lifetime value
Digital subscription companies are making a fortune as well, sitting at a light $14 Trillion globally!
6. Innovative Shipping Solutions
eCommerce Shipping is becoming more important than ever, with customers expecting fast and reliable delivery.
By offering innovative eCommerce shipping solutions such as same-day or next-day delivery, you're able to attract new customers, as well as increase the chances of loyalty. Knowing their order will be delivered quickly and reliably is so important in building trust.
Another innovative shipping solution to consider is using an eCommerce Fulfillment service, which is when third-party companies pick, pack, and ship your orders for you. This allows you to focus on other areas of your business while still offering reliable shipping times.
7. Mobile-Friendly Website
With over 80% of eCommerce sales now happening on mobile devices (maybe this is more than just a trend), it's essential to make sure your website is mobile-friendly.
This means ensuring that your website loads quickly on a range of different devices, looks professional and inviting, and offers an easy-to-use user experience.
As competitors continue to evolve their mobile websites in 2023, it's important to make sure yours is ahead of the game!
8. Return Management Solutions
Simplifying returns is a sure-fire way of combating customer fears and creating a safe and trustworthy shopping experience. Consider working with ReturnBear to make your customers’ lives easier, while also reducing the time you spend approving, inspecting and sorting returns.
Partnering with ReturnBear means that you’ll be able to give your customers the option to conveniently drop off returns at any ReturnBear drop-off kiosk across Canada, which also benefits your business by expediting the return process, allowing you to move inventory faster, and cutting your shipping costs. And to top it off, you save more than 60% on shipping costs when customers opt to use a drop-off kiosk instead of shipping their returns. A benefit for your wallet and for the environment.
9. Use of 3PL
Using 3PL (Third-Party Logistics) partners is becoming increasingly common among eCommerce businesses, as it allows you to outsource tasks such as storage, eCommerce shipping, and eCommerce fulfillment.
By using a third-party logistics provider you're able to save time, cut costs, and provide customers with faster and more reliable delivery times!
In order to stay ahead of the curve in 2023, it’s important to anticipate and implement the latest eCommerce trends that will help your team continue to scale and drive sales for your business and find ways to cut down costs.
We’ve outlined eight trends to explore this year from customer-facing improvements such as a subscription service to improving your logistics with eCommerce returns and shipping.
For more information on how to tap into growth trends check out our partners at eshipper!