Top Trends in e-Commerce in 2023: All The Changes, Advancements and What to Expect
All the Ecommerce trend predictions for 2023 and how to stay ahead of the curve to affect your business's bottom line
As a marketer, brand owners, and founders of e-commerce businesses, it's important to stay ahead of the curve when it comes to digital trends. Aztech is here to provide you with all the Ecommerce trend predictions that we’ve rounded up from sending surveys and talking to our extensive network.
We know that with rapid technological advancements and changing consumer preferences in recent years, predicting what lies ahead can be a challenge. However, there are some key trends that will shape the e-commerce landscape in 2023 that you should be aware of.
1. First off lets zero in on the DTC eCommerce growth predictions for 2023:
"As more and more e-commerce brands adopt the direct-to-consumer (DTC) business model, it is predicted that the DTC online market will reach $213 billion by the end of 2023." - Jia Wertz, Forbes
According to research completed by eMarketer and Statista, online retail sales will reach $6.51 trillion by 2023, with eCommerce websites taking up 22.3% of total retail sales.
2. Personalization & The Use of AI Technology:
One trend we're seeing is an increased focus on personalization across all aspects of online shopping experiences - from product recommendations to tailored emails sent directly to customers' inboxes. This allows businesses to create unique customer journeys based on individual interests while also providing more value for their customers through personalized content and offers tailored specifically for them. Additionally, AI technology has been used by many retailers already as part of their marketing strategies – allowing them greater insights into customer behaviour so they can better target ads and promotions accordingly; this trend is only set increase over the next few years as AI becomes more sophisticated with its capabilities.
3. Voice Commerce
Another major trend expected over the next few years is voice commerce – which involves using voice commands such as Amazon Alexa or Google Home devices for making purchases online (or even offline). This new form of shopping eliminates traditional barriers like having access only during store opening hours since consumers can now shop anytime from anywhere simply by speaking commands into their device(s) at home! It also provides convenience factors that weren’t previously available before such as being able search products quickly without typing anything out manually or scrolling through pages upon pages looking for something specific; this could potentially revolutionize how people shop going forward!
4. Gen Z and Explosive Growth in Health, Wellness and Beauty
Data shows that Gen Z will represent 21% of the population and will become a much bigger focus for emerging DTC brands as well as for market share holders of the big CPG. I expect to see loads of new product lines spring up for this demographic, and maybe some big re-brands as those legacy companies will be working hard to innovate and find ways to capture to the attention of the most digital generation in history. To do so, these companies are going to have to focus on hiring younger folks to bring in perspective and steer their brands towards the values that Gen Z cares most about when shopping: authenticity, diversity and sustainability.
With that health, wellness, mental health and beauty will continue to grow in market share and more brands and consumers will embrace experimenting with solutions that think outside the box: (eg. psychedelics, nootropics, and a plethora of emerging therapy styles especially popular with the younger demographics but experimented with by all ages). These health and wellness advancements will trickle into the retail market and become a part of the zeitgeist.
5. AR Tech for In-Store-Like Shopping
Finally one last thing worth mentioning here would be augmented reality (AR) becoming increasingly popular within both brick & mortar stores/shops but especially within digital/online stores too where AR tech helps shoppers visualize how products may look like if placed inside certain areas around your house before actually buying them - giving customers complete confidence about what they’re purchasing beforehand thus eliminating any doubts after purchase which often lead towards returns etc... All these technologies combined together are surefire ways towards creating amazing omnichannel experiences between brands & consumers alike whilst driving up sales figures significantly too!
It will be a big year indeed!
Personalized services coupled with AI technology along with Voice Commerce & Augmented Reality have become essential components required by retailers today if they want success tomorrow - so make sure you keep up-to-date with these latest developments happening right now because who knows just how much further things could go!