The Future of eCommerce: Emerging Trends and Technologies for 2023
The eCommerce industry has come a long way since its inception in
the 1990s. With the advancement of technology, eCommerce has become a staple in the
retail industry. As we move towards a more digitally-driven world, a simple search for
eCommerce trends and technologies 2023 is enough to leave you astonished.
As online shopping is gaining momentum, to stay competitive in digital commerce you need
to understand customers’ needs and stay up-to-date with the latest eCommerce trends and
technologies. In this blog, with our expertise, we’ve short-listed some top eCommerce
emerging trends for online retailers.
10 Trends for the Future of eCommerce Growth
Live Chat
Communication and providing support to customers in real time are really important for
any online retailer. It improves customers’ shopping experience, drives sales and boosts
customer retention.
Having a live chat feature on your eCommerce website can be a real game-changer for your
business because of its various beneficiaries. It provides instant service to the
customers as compared to emails and other contact mediums and resolves customers’
queries within moments. It deals with multiple customers at the same time which saves
both, the customers and our time. It provides customised services to each customer
according to their shopping history.
It helps to boost customer engagement, conversion and sales for your business and is
very cost-friendly.
Voice Search
Voice assistants like Amazon’s Alexa and Google Assistant have become increasingly
popular in recent times. As more people adopt this technology, voice commerce is
expected to become a significant trend in eCommerce.
Voice Searches offer a personalized shopping experience with a recommendation based on
the customer’s preferences. This technology can be especially beneficial for customers
with disabilities or those who prefer a hands-free shopping experience. It has to make
reviewing way easier as compared to typing a whole review. It enables a smart shopping
experience by customer’s shopping behavior and suggesting missing items from your
previous shopping list.
Social Commerce
Social media platforms like Facebook, Instagram and Pinterest have already started to
integrate eCommerce into their platforms. In the future, social commerce is expected to
become a significant trend in eCommerce.
Social commerce can be elevating your business in many ways, it’ll let you reach the
highest number of customers. It enhances your social media presence and increases your
brand awareness. It provides a frictionless purchasing experience.
Livestream Commerce
Many remember the TV shopping channels and Livestream commerce is just a more advanced
form of that.
Livestream commerce has taken eCommerce to the next level. It has enhanced customers’
shoptainment experience by providing them live demos of the products in the live stream.
Customers can easily ask questions regarding the product and get instant answers and a
demo increases conversions and customer satisfaction.
Augmented Reality (AR)
As customers can’t experience products before purchasing them, it is the main roadblock
for online retailers. That’s what let Augmented Reality (AR) enters the scene.
Augmented Reality is one of the technologies that has the potential to revolutionize the
eCommerce industry. AR allows customers to visualize products in a real-world
environment before making a purchase. This can significantly reduce customer product
dissatisfaction. AR can also enhance the customer experience by creating interactive and
engaging product demonstrations.
Artificial Intelligence (AI)
AI has become a game-changer in the eCommerce industry. It has the potential to
transform the way we shop online. AI-powered chatbots can provide instant customer
support, and personalized recommendations, and even help customers navigate the website.
This technology can also be used for analysing customer data to provide insights into
buying habits, preferences and trends. Retailers can use this data to elevate their
marketing strategy.
Virtual Reality (VR)
Virtual Reality is a technology that has already made its mark in the gaming and
entertainment industries. In the future, it is expected to have a significant impact on
eCommerce. Virtual Reality can provide customers with an immersive shopping experience,
allowing them to interact with products in a virtual environment. This technology can
also be used for product demos, virtual store tours, and even virtual try-on for
clothing and accessories. It will let customers urge to visit your store.
Cryptocurrency Payments
Cryptocurrency is a relatively new technology, but it has the potential to transform the
way we make payments. As more retailers accept cryptocurrency payments, customers will
have more options when it comes to paying for their purchases. Cryptocurrency payments
are faster, more secure, lower in transaction cost and can be made without the need for
a third-party payment processor.
Sustainability
Sustainability is becoming a major issue for customers. As a result, eCommerce retailers
are starting to take product sustainability more seriously. In the future, retailers
will need to prioritize sustainability practices to stay competitive in the industry.
This includes everything from reducing packaging waste to using eco-friendly materials.
Same-Day Delivery
As we are already living in a more advanced digital era that’s why same-day delivery is
becoming a common thing in the eCommerce industry. In the near future, it is expected to
become a norm. same-day delivery can provide customers with a more convenient shopping
experience, and it can also help digital retailers stay competitive.
Moving forward towards the future, eCommerce will keep evolving and adapting new
technologies and trends. Online retailers who will be capable of staying ahead of the
curve and adopt emerging technologies will be better positioned to provide seamless and
engaging shopping experiences. As the above-mentioned trends and technologies seem to be
full of opportunities and growth and consumers become more reliant on digital channels
for their shopping needs, eCommerce will undoubtedly continue to play a vital role in
the retail industry in the coming years.