Top 9 e-commerce trends for 2023 & forecasts transform the future of e-commerce

E-commerce trends for 2023 have changed online shopping landscapes a lot. Check out the Top 9 e-commerce trends that drive the future of e-commerce.  

How covid-19 has transformed dynamic business landscapes, that’s an unprecedented situation. As covid-19 lockdowns forced people to exposure to online purchases during the pandemic, the revenue of e-commerce transactions has been pushed to unprecedented numbers. After the outbreak, most people continue buying online for its convenience. It shows that the versatility of e-commerce has brought great changes since the first online shopping stores in the 90s. 

In 2021, the revenues of global e-commerce hit $4.9 trillion. With an increasing demand for e-commerce businesses, e-commerce software development firms have gained popularity among online retailers. Besides, brands need to keep updated with top e-commerce trends which will be a vital part of business growth. Adamo Software has compiled some e-commerce trends for 2023, let’s check it out in the article below. 

E-commerce trends and statistics (data updating to 2023) 

Global e-commerce statistics for e-commerce 

• There are about 2.14 billion global online shoppers, over the global population (eMarketer). 
• E-commerce businesses made up 20% of global retail sales in 2021 and e-commerce growth will increase up to 25% of that sales by 2025 (eMarketer). 
• According to IPC, over 75% of consumers buy something online once a month. 
• There are between 12 and 24 million e-commerce storefronts (digitalintheround). 
• The United States, the United Kingdom, and China are the top 3 e-commerce market leaders (eMarketer). 
• If e-commerce growth rates continue at their project  speed, about 95% of buying transactions will occur online by 2040 (Nasdaq). 
• 51% of all online transactions come from Asian accounts. 

Growth statistics for e-commerce

• In 2025, the e-commerce industry is expected to hit 7.4 trillion in annual revenue (eMarketer). 
• In 2022, e-commerce sales will reach over 5.4 trillion in revenue (eMarketer). 
• In 2022, India, the Philippines, and Indonesia witnessed the greatest e-commerce growth (eMarketer). 
• In 2022, 41% of brands plan to increase their paid search marketing budget to get more leads (Shopify). 
• All US e-commerce sectors will grow by about 14.1% (Statista). 

Platforms for e-commerce trends 

• According to Top Design Firms, 27% of U.S small business owners do not have a website. 
• 48% of online shoppers buy directly from large marketplaces like Amazon (BigCommere). 
• According to Google, 52% of online stores use omnichannel communication. 
• Amazon receives about 3.1 billion visitors monthly (Semrush) and it accounts for 56.7% of online retail sales in the United States. 

Sales growth for e-commerce 

• About 81% of consumers will reach a product through online channels before buying it (General Electric). 
• Online fashion consumers visit an average of 32 pages before buying any clothing online (ContentSquare). 
• 3 out of 4 consumers repeat purchases online (Salesforce). 
• Consumers purchase 69% of books and videos online (eMarketer). 
• According to Siege Media, e-commerce pages have an average bounce rate of 54.54%. 

Top 9 e-commerce trends: Top technology trends to look out for 2023 and beyond. 

Voice shopping via search to find products on e-Commerce platforms 

Currently, voice search has gained more popularity contributing to many business sectors. It allows consumers to ask questions and receive answers from their own devices mannerly, creating a more enjoyable shopping experience. Google launched voice search around 10 years ago, it has become a feature of all smart devices. 

According to a recent survey, about 35.1% of shoppers use virtual and voice assistants daily. In 2022, 35% of United States residents will use smart speakers and voice assistants like Siri and Alexa to check the weather and shop online. Among e-Commerce trends, voice-search commands start creating great shopping experiences. Web and mobile app development companies consider e-Commerce trends as one of the potential aspects to grow. Thus, e-commerce software development services start increasing to force e-commerce business growth. It makes the e-commerce industry an intuitive and hands-free way to sell and buy products easier than before. 

Selling and buying products on TikTok 

Recently, TikTok has boomed among other social media platforms, with over 656 million downloads in 2021. Users can create, upload, and share content via likes, comments, and shares. As the most downloaded globally in 2021, TikTok is a potential space for social commerce and e-commerce business to grow. Thus, doing business on TikTok is now one of the hottest e-commerce trends for 2023 and beyond. That’s why many web and mobile app development companies invest in e-commerce software development projects to develop. Let’s take a look at three ways that business owners promote eCommerce business on TikTok: 

• Paid advertising: TikTok allows firms to create and launch ad campaigns via social networking apps. You customize ads linking to the products, e-commerce sites, and social media pages. 
• Influencer partnerships: TikTok has created jobs for many influencers who can boast thousands and even millions of followers. 
• Organic brand content: Another thing that business owners take advantage of TikTok is branding. It is critical to create branded accounts and post videos to gain followers and build your targeted audience. 

The direct-to-consumer business model for e-Commerce 

The direct-to-commerce (DTC) started booming after the covid-19 outbreak since it is not new. Manufacturers have seen that selling directly to end-users is more effective and profitable than via third-party e-commerce platforms. 

Take the example of Nike since it stopped cooperating with Amazon and started to develop its e-commerce website. It led to an increase in direct sales by up to 30%. Deciding to create an e-commerce software development project is right, that’s somehow pushing web and mobile app development into the e-commerce business. 

Live stream and interactive shopping 

Live stream shopping is one of the e-commerce trends for 2023 that you need to know. In the live stream and interacting shopping season, retailers present their products in terms of quality, uses, etc to end-users via social media platforms. Increasing demand for live stream shopping has pushed e-commerce software development and social networking app projects. 

In China, live-stream shopping starts gaining traction in the e-commerce market, with a generation of $399 billion in revenue (2021). The United States market is still in the early stage and it is expected to get $25 billion in 2023. However, big players begin jumping into the live stream shopping aspects such as Walmart, Nordstrom, and Macy. 

On-site search personalization experiences for all shoppers 

Personalized experiences have been the future of e-commerce since retailers differentiate themselves from rivalries and build loyalty amongst customers. On-site personalized experiences refer to tailoring search results and search terms for each kind of customer based on their past behavior, profile data, and others. 

You can use Elasticsearch or Algolia to make suggestions on what search results from your customers expect to see. When developing e-commerce software development projects, web and mobile app development companies consider search terms features for brands to reach the right customers. 

Social commerce – directly through social media 

Social commerce is one of the e-commerce trends for 2023 that use social media. Buying and selling products or services via social media channels such as Facebook, Instagram, Shops, etc. It leads to the development of social networking apps for social sharing and doing-business channels. That’s why many web and mobile app development companies offer e-commerce software development projects and social networking apps for brands to generate leads. 

Besides, social commerce also helps brands to entail advertising on social media, which increases interactions. Customers get more information, advice, or comments on the products they will buy. 

Mobile commerce: a new norm for the shopping experience 

According to the statistics, mobile devices make up 61% of retail traffic, with 70 million online users. This figure will increase shortly. It is critical to show that mobile commerce is one of the primary e-Commerce trends for its convenience. Consumers can buy things from anywhere. If entrepreneurs want to develop an e-commerce platform via web and mobile app development companies, they might consider some for their e-commerce software development projects. 

• Visual design and UX/UI elements: Giving mobile apps an impressive look and high-quality images of your products can take them to the next level. 
• Search feature: Optimize search experiences for mobile devices. Showing their recent searches is a great way to enhance shopping experiences. 
• Push notifications: Leverage in-app notifications can alert customers of special offers and other reminders. 

Seamless omnichannel sales & shopping experiences 

E-commerce businesses plan to prioritize omnichannel sales in the upcoming years. According to a recent study, about 32% of brands want to extend their in-person interactions in 2022. They can open pop-up stores or put products or items in retail stores. 

Another report shows that 69% of shoppers expect to receive a consistent experience in all channels. A tailored-made shopping experience does not rely on one kind of channel, so brands need to focus on offering a consistent experience on all platforms. When creating web apps for their e-commerce business, web and mobile app development companies must consider those things for e-commerce software development. 

Sustainability and re-commerce – make more value sustainability 

52% of consumers admit that the covid-19 pandemic has forced them to value the sustainability of products more. Another survey states that about 80% of customers consider the sustainability of the products or any item when purchasing. 

We will have another term like RECOMMERCE (which refers to resale or reverse commerce). It is a buying and selling process of previously owned, new, or used items. For example, Zara wants all its brands to use organically sustainable or recycled materials by 2025. Smaller D2C brands follow this trend in the same direction. 

The bottom line 

The business landscape has been getting more competitive since people and technology are always advancing. Technology and customer behaviors are changing a lot, e-commerce businesses need to adapt trends to meet their needs. Finding out more Top 9 e-commerce trends for 2023 that business owners might know for their growth. If you want to develop mobile apps for the e-commerce industry, contact us, the leading web and mobile app development company in Vietnam.