5 Global E-Commerce Trends to Watch in 2023

Global e-commerce is constantly evolving. Statista predicts that in 2023, online retail sales will reach $6.51 trillion will e-commerce websites occupying 22.3% of total retail sales. As the world continues to become more connected, the e-commerce landscape is shifting to accommodate the changing needs of buyers and sellers. These are some of the top global e-commerce trends of 2023 that your business can leverage in order to boost sales in the future.

AI (artificial intelligence) is not a brand-new concept, it has been around for years and it has helped e-commerce increase sales, lower operational costs, and improve customer experience. Amazon uses AI-powered recommendations in its search engine which led to 35% of its annual sales. AI also provides benefits for businesses such as personalized marketing which will allow businesses to customize their marketing strategies to suit the needs of their customers. Incorporating image search into your e-commerce store will likely improve your customer experience in product navigation and increase the rate of customer retention. AR (augmented reality) is transforming how customers shop online as it helps them see and check the products in ways that were not possible, before purchasing them. With how technology is continually advancing, integrating AR into your e-commerce website makes sense, and getting started as soon as possible puts your brand at the forefront.

Our suggestion: AI is helping businesses to improve customer experience, personalization, customization, and efficiency to be more competent in this fast-paced digital environment. This is your perfect chance to consider AI-based speech and image recognition for easier on-site navigation within your platform. Additionally, add AR technology to your store or app to improve the shopping experience of your customer. We were able to create AR experience for our client, Tresound. As a result, users were able to virtually experience the product on their website.

Gone are the days when social media was mainly for connecting you with your old high school friends and for watching funny cat videos, it is a massive marketing tool that your business can leverage to grow your brand online. TikTok may have started as a “dancing App for teenagers” but today it plays a pivotal role in influencing consumers. Its hashtag** #TikTokMadeMeBuyIt** currently has 37.9 billion uses, indicating the app's influence on consumer purchasing decisions. You can read the full article here on our website. Social platforms such as Instagram, TikTok, and YouTube are ready to accommodate social shopping transformation for individuals and brands to earn money. In China, trends like Livestream shopping have been part of e-commerce for years now. As a matter of fact, Taobao the giant retail platform has advanced and is expected to reveal the first Metaverse live stream before the Chinese New Year, but this is a story for another day. Social your e-commerce shop targets GenZ shoppers, so being on platforms like TikTok and Instagram will absolutely work in your favor.

Our Suggestion: The social shopping scene comes with many tactics and you need to examine your business’s position to determine which tactics to use and ensure that your content is optimized in order to help you stand out. Additionally, create inviting visuals for your social media storefront such as the Instagram feed. Most importantly invest in a good social checkout that allows visitors to follow a seamless in-app customer journey with fewer difficulties in the sales processes.

Imagine if purchasing your next handbag or pair of sneakers was a voice command away. That’s how voice search and voice assistant are currently transforming e-commerce shopping. In fact, 36.6% of the US population use voice assistants, and 27% of the global population uses voice search on mobile gadgets. These functions enhance the customer experience as it makes the shopping experience seamless and can serve customers based on their individual experiences.

For e-commerce stores, incorporating voice search will improve your customer experience and increase the rate of customer retention. Voice search is expected to be a major trend in 2023, as more people become comfortable using voice-activated technology.

Our suggestion: As voice search is increasingly becoming popular, we suggest you incorporate it into your strategy by creating keyword optimization for your products. Additionally have a set of answers that will clearly answer the FAQs of your clients. Lastly, in your SEO strategy, you can optimize the meta description with attractive and appealing content.

The subscription model has always been around, however, it will continue to rise in 2023. Also in the business world, it is part of the membership economy. This model is beneficial for both businesses and customers alike because it provides businesses with a steady stream of income and customers with the convenience of not having to continually purchase products or services. In general, there are two main types which are service and digital content-based subscriptions. Dropbox and Mailchimp are great examples of the subscription service business. Netflix, Hulu, and Spotify are some of the giants that provide content-based subscriptions. A study by Paysafe discovered that 27% of consumers continue increasing their subscription service.

Our Suggestion: If you’re considering selling products or services that can be offered as subscriptions, this year is the perfect year to make a transition. During these uncertain economic times, you can establish a stable revenue stream and experience continued growth.

In 2022, we witnessed brands conforming to the green movement. By adopting more sustainable operating and business practices, brands like Puma, Autodesk Inc, Cisco, and many more improved their internal sustainability.

In 2023, businesses will continue being mindful of their operations' impact on the environment, and take steps to reduce their environmental impact. This could include implementing waste management systems, using renewable energy sources, and investing in sustainable practices. Businesses that are able to conform to environmental regulations in 2023 successfully will be well-positioned to remain competitive and successful in the long term. Younger generations generation Alpha and Gen Z are the biggest advocates of sustainability. A survey report suggests that part of the important topics to this generation are activism, climate, and fashion sustainability.

Our Suggestion: Consumers have become more aware of the environmental impacts that business operations have so they will want to make sure their purchases contribute to sustainable companies. Make energy-saving decisions and use eco-friendly packaging. Sustainability can be practiced in all sectors; grocers, fashion, technology, and so forth.

In order to use the global e-commerce trends in 2023, businesses should first familiarize themselves with the current trends. This includes understanding the rise of mobile commerce, the growth of social commerce, and the increasing importance of personalization. Businesses should also be aware of the increasing demand for convenience and the customers’ need for a seamless experience. Additionally, businesses should consider the potential of emerging markets and the impact of new technologies such as artificial intelligence, blockchain, and virtual reality. There is no doubt that Generation Alpha and Gen Z will play a major role in keeping retailers in business in the coming years therefore it is important to consider their preferences and embrace all trends. By understanding and utilizing these trends, businesses can create effective strategies to capitalize on the global e-commerce market in 2023.