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
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 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 personalised 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 behaviour and suggesting missing items from your previous shopping list.
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.
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 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 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 prioritise sustainability practices to stay competitive in the industry. This includes everything from reducing packaging waste to using eco-friendly materials.
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.