10 Best eCommerce Trends To Follow In 2023

E-commerce is growing by leaps and bounds, which is unsurprising given the increasing penetration of the internet, the easy availability of smartphones, and consumers’ changing shopping habits. So, what will be its direction in 2023? Let’s explore the top eCommerce trends in 2023 and find the answer. 

The pandemic might have halted the world, but it propelled e-commerce to new heights. More and more people are moving online to shop for everything from necessities to luxuries. However, rapid Growth also creates new challenges, and companies must innovate to meet the consumer’s changing needs. As e-commerce grows, so will the competition and pressure to innovate and stand apart. So, what factors will shape the post-pandemic e-commerce landscape? Let’s check out the top e-commerce trends for 2023 to have a better insight. 

E-Commerce In 2023 In Numbers

• The data suggest that the e-commerce upswing will continue in 2023 and beyond. Here’s what the expansion of e-commerce looks like in terms of numbers and statistics;
• Per the data, global e-commerce sales reached a whopping 4.9 trillion dollars in 2021, which is expected to reach $6.3 trillion in 2023.
• Likewise, the YOY e-commerce growth is expected to remain around 9.5% in 2023.
• In the US, e-commerce is expected to grow by 50%, touching the whooping $1.4 trillion mark by 2025.
• In Europe, the Growth will be a tad slower at 47%. Likewise, e-commerce in the rest of the world will likely grow 52% reaching 1.5 trillion dollars by 20202.
• Data suggest that in 2023, B2C e-commerce sales will amount to $3.5 trillion in revenue.
• The B2C sector is currently powering the e-commerce boost; however, the B2B segment is not far behind. Per the experts, the B2B segment will reach a staggering 18.7 trillion dollar figure by 2028.
• Digital payment solutions are on the rise too. Back in 2021, when things were returning to normalcy after the pandemic, digital payment solutions accounted for roughly all e-commerce transactions worldwide. In 2023 the numbers are expected to grow by 53%.
• E-commerce sales are also expected to touch new heights in 2023. Per the data, e-commerce will contribute around 21% of global retail sales.
• Free delivery will remain the biggest motivator for people to shop online in 2023. It accounts for nearly 49.3% of all e-commerce sales. Next are coupons and discounts, which contribute around 38.1%.
• Influences in 2023 will again play a huge role in shaping people’s decisions about shopping online. Per the statistics, around 30% of consumers seek influencers’ recommendations before making an online purchase.

E-Commerce Trends To Watch Out For In 2023

 Here are the top e-commerce trends that will shape the online shopping landscape in 2023

1. Direct Selling

Expected Growth – Direct Selling will grow by 11% CAGR reaching $770 billion in 2023.

Big brands will continue to move to direct Selling due to their potential to enhance margins, ease of use, and customer loyalty. Establishing an in-house online sales platform also has another advantage – it allows brands more control, distinguishes them from other brands, competes with better offers, and provides top-notch support.

2. Unified Commerce

Expected Growth – In 2023, most major brands will shift their focus to unified Commerce.

Unified Commerce is another major trend to have a significant impact on e-commerce in 2023. Unified Commerce allows online sellers to tackle the challenges posed by online marketplaces and direct sales channels. Unified Commerce helps them easily interact with consumers across multiple channels, like online, retail stores, social media, mobile, and call. It will allow them to offer a more personalized experience and better understand the customer experience.

3. Diversity In Payment Methods

Expected Growth – Digital payments in e-commerce are expected to touch around $6 trillion in transactional value in 2023.

Flexibility in the payment option will be a major contributing factor to e-commerce growth in 2023. More and more consumers rely on secure digital payment solutions like PayPal, Apple Pay, or Google Pay for online shopping rather than entering their credit card details. This trend will continue to rise in 2023 too and the consumer will seek more convenience in payment options. 

4. Personalization 

Expected Growth – 52% of consumers are more than willing to receive personalized recommendations based on their online shopping habits.

Hyper-personalization will also be a major e-commerce trend in 2023. Brands will increasingly employ AI and machine learning to offer personalized shopping experiences to consumers. It will allow brands to tailor e-commerce experiences to individual customers and optimize the browsing experience.

5. Sustainability

Expected Growth – 75% of customers enquire about sustained products, and the number is expected to grow in the coming years.

Sustainability is coming to the fore, and more consumers are demanding that brands be more environmentally friendly. Around 75% of US consumers search for brands that align with sustainable environmental goals. Consequently, sustainability has become an essential purchase criterion that will significantly impact ecommerce in 2023.

6. Re-Commerce

Expected Growth – Recommerce is expected to grow at a CAGR of 33.0% till 2028.

There’s a growing market for second-hand products, and the trend will continue in 2023 with full force. Generation Z, who is particularly more aware of their shopping decisions and identify themselves as conscious consumers, is the primary contributor to the trend. Around 74% of consumers aged 18-30 prefer to buy cost-effective second-hand products.

7. Mobile First Experience 

Expected Growth – Mobile Commerce is expected to reach the staggering $700 billion mark by 2025, growing 18% yearly.

Mobile First experience will also be a driving factor for e-commerce growth in 2023. Per the data, around 61% of all e-commerce sales come via smartphone. It’s an inevitable trend, and companies must adopt means to enhance consumer mobile experience. In 2023 brands will significantly focus on making mobile navigation more fluid, pleasant, and hassle-free.

8. Live Commerce

Expected Growth – In the US alone, Live commerce brought revenue of 17 billion dollars in 2022. It is expected to double in 2023 and reach $55 billion by 2026.

Live Commerce is a relatively newer trend; however, it has caught consumers’ attention. Incidentally, live commerce allows consumers to shop in real-time while interacting with the brand and receiving expert advice. It significantly enhances the shopping experience and makes the consumer feel more connected with the brand.

9. Social Selling

Expected Growth – Data indicates that social Commerce boosts sales by 45%. Additionally, social Commerce is expected to grow with a CAGR of 31.6%, reaching $956.86 billion in 2023.

Social Selling will continue to play an active role in e-commerce, shaping consumer behavior and the decision-making process. Data also support the growing contribution of social media platforms in online shopping. Around 51 percent of Americans accept that Social Media is their preferred channel for online shopping.

10. Omni-Channel eCommerce

Expected Growth – Studies suggest that brands with the Omni-channel strategy will experience a 9.5% increase in their revenue in 2023. Likewise, the Omni-Channel retail market is expected to grow by 13.6 CAGR and will reach $7.69 billion in 2023.

The Omni-Channel e-commerce strategy aims to provide consumers with a seamless and consistent experience across all sales channels and devices. A study conducted by Harvard Business Review revealed that 73% of consumers utilize multiple channels to make a purchase decision. Therefore Omni-channel strategy can work wonders for brands yearning for customer loyalty and more business.

Sectors Leading To eCommerce Growth

• E-learning – E-learning has emerged as a leading growth sector within e-commerce. It’s an affordable way for people to access quality learning material, training, and assistance. Advances in e-commerce are further enhancing e-learning by facilitating the exchange of learning material, payments, and customer support. The e-learning sector is expected to grow at a CAGR of 17.7%, reaching annual revenue of $855 billion by 2030.
• Consumer Electronics – It’s another segment that is propelling the e-commerce sector to new heights. Attractive discounts, home delivery, and easy payment options are boosting online consumer electronics sales. Data indicates that online consumer electronics sales will reach a staggering $600 billion in 2023. 
• Fashion and Lifestyle – The fashion and lifestyle industry is also experiencing a seismic shift due to unprecedented demand via online channels. The shifting consumer preferences, demand for convenience and ease, and the overwhelming number of options available has catapulted fashion e-commerce to the skies.

• Food & Beverages – Interestingly, consumers are increasingly buying food items online, which has paved the way for massive Growth in food and beverage e-commerce. Most experts claim that global food and beverages e-commerce is poised to grow by 22.2%. CAGR and will reach $70 billion in 2023.

Conclusion: eCommerce Trends (2023)

The e-commerce trends of 2023 clearly indicate that the sector will continue to experience tremendous Growth in the coming year. This rapid expansion will particularly be driven by the ever-increasing accessibility and convenience of online shopping, combined with the ongoing digitalization of the global economy.

2023 will be the year that will witness new forces driving e-commerce growth; the most prominent will be AI, live Commerce, Chatbots, and the metaverse. However, despite the unprecedented Growth, the road won’t be too smooth for e-commerce companies. As consumers become increasingly comfortable with digital transactions, businesses will need to adapt to meet the demands of this rapidly growing market.

That said, the rise of digital payments, the expansion of the B2C segment, and the continued influence of social media will continue to fuel e-commerce growth. Therefore it’s safe to conclude that e-commerce will be a crucial driver of global economic growth in 2023 and beyond.

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