By the end of 2022, the U.S. was the only country other than China with trillions of dollars in online sales—an estimated $1.05 trillion. While online sales account for only 15% of total U.S. retail sales, shopping habits are increasingly online.
So how do you ensure your eCommerce brand stands out in the increasingly competitive online shopping landscape? We're here to help you take on what's next. Take a look at the top five trends that shaping the eCommerce industry in 2023.
More people will shop through social commerce
Social media platforms like Facebook and Instagram have become increasingly popular places for consumers to discover, research, and purchase products.
More shoppers will use voice search
When are shoppers most likely to turn to voice search? According to research by Navar, the majority of shoppers (51%) use voice search to research products, and another 36% of shoppers use voice search to add products to their shopping lists.
Shoppers place more trust in influencer recommendations
In fact, 61% of consumers trust the product recommendations they get from influencers. Meanwhile, only 38% trust branded social media content.
Shoppers will rely more on chatbots
In 2023, chatbot revenue is expected to hit $137.6 million––up from $40.9 million in 2018.Currently, 80% of customers have had a conversation with a chatbot and nearly 64% of people believe chatbots are beneficial, as the 24/7 service they offer makes businesses more reliable and efficient.
More consumers tune into live shopping
Live commerce uses social media platforms to merge live streaming with commerce. Viewers tune into a Facebook Live (or equivalent) video, have real-time communication with a brand and purchase items off the back of its answers.Brands are using Livestream to promote products, answer questions, and close sales with customers who are joining remotely to watch.
These online shopping trends suggest that the popularity of online shopping will only grow in 2023 and beyond. As the number of online shoppers increases, e-commerce brands will continue to leverage new technologies and trends to attract and retain customers. To stand out in the increasingly competitive online shopping environment, brands need to leverage these trends to develop a strategy that meets the needs of their customers.