2023’s (and 2024’s) 21 E-Commerce Trends You Need to Know Now
Want a sneak peek into 2023? Well, the online shopping world is buzzing with innovation. If you’re itching to outshine your competitors, you’re in the right place. Let’s unpack the hottest e-commerce trends that could skyrocket your success.
Key Takeaways (because who doesn’t love a quick snapshot?):
- AI and Machine Learning: Did you know that a whopping 2.14 billion people shopped online in 2021? And guess what’s guiding their choices? AI! It’s not just about suggesting products anymore. We’re talking AI-driven customer support, smart inventory management, and even shoppable posts. The future is personalized, and AI is the maestro behind it.
- Social Commerce: Remember when social media was just for sharing memes and vacation pics? Times have changed! Now, it’s a sales powerhouse. Influencer marketing and social media advertising are not just buzzwords; they’re driving real sales growth. And with social commerce making up 3.4% of total eCommerce sales in 2020, this trend is only heating up.
- Voice/Visual Search: “Hey Siri, where can I find the best e-commerce trends?” If you’re not optimizing for voice and visual searches, you might be missing out. Stay ahead, and while you’re at it, why not lock in that customer loyalty with subscription services? After all, who doesn’t love a good subscription box delivered to their doorstep?
Table of contents:
- The Power of AI and Machine Learning in E-commerce
- The Rise of Social Commerce
- Embracing Omnichannel Strategies
- Green Commerce: Sustainability in Ecommerce
- Enhancing Customer Experience with AR/VR Technologies
- The Growing Popularity of Subscription Services
- Voice and Visual Searches: Optimizing Ecommerce for Emerging Technologies
- Frequently Asked Questions
Brand24 is a tool that monitors online mentions about your company.
The Power of AI and Machine Learning in E-commerce
Have you ever wondered how your favorite online store seems to know exactly what you want? That’s AI and machine learning working their magic! These tech wonders are reshaping the e-commerce world, making shopping feel like a sci-fi movie.
You know that feeling when a friend gets you the perfect gift? That’s what AI does with personalized recommendations. It’s like having a buddy who knows your style inside out. Take Starbucks, for instance.
They’re using AI and customer data to shoot out over 400,000 personalized messages straight to your phone. And here’s a fun fact: the global market for this kind of personal touch is set to hit a cool $5 billion by 2030.
So, yeah, AI is kind of a big deal.
AI-Powered Customer Support
Ever chatted with a bot online? That’s AI again! These chatbots are the unsung heroes of e-commerce. They’re quick, they’re smart, and they’re ready to help 24/7. And guess what? By 2020, a whopping 80% of businesses jumped on the chatbot bandwagon. Why? Because shoppers absolutely love them!
Inventory Management Optimization
Running an online store? AI’s got your back. It’s like having a super-smart assistant who can predict what your customers will want next. No more overstocking or running out of best-sellers. With AI, you get the right stock at the right time. And the best part? It saves money and keeps customers happy.
So, in a nutshell, AI and machine learning aren’t just trends; they’re revolutionizing the way we shop and sell online.
Ready to dive deeper?
Stay Ahead with Brand24: Your eCommerce Trend Tracker
Ever felt like the eCommerce world is moving too fast? Like you’re always playing catch-up? Enter Brand24. Think of it as your personal eCommerce detective, always on the lookout, always updated. And guess what? It’s turbocharged with AI and machine learning.
What’s in the Brand24 magic box?
- Real-time Monitoring: Picture this: You’re sipping coffee, and Brand24 is out there, scanning social media and online mentions of your brand, products, or even industry trends. Spotting a trend before everyone else? Priceless. That’s the edge Brand24 gives you.
- Sentiment Analysis: Ever wondered what people really think about your brand? Or the latest eCommerce buzz? Dive deep into public opinion with Brand24’s sentiment analysis. It’s like having a mood ring for your brand. Make decisions that resonate with your audience.
- Influencer Identification: Let’s face it, influencers are the new rockstars of eCommerce. Want to collaborate with the best in your niche? Brand24’s got your back. Find, engage, and ride the wave of influencer trends.
Here’s the deal: In the whirlwind world of eCommerce, staying updated isn’t just good; it’s survival. With Brand24, you’re not just tracking trends; you’re setting them. Ready to level up? Start the free trial now!
Track trends around your brand and market niche with Brand24.
The Rise of Social Commerce
Have you noticed how your social media feeds are turning into mini shopping malls? That’s social commerce for you, and it’s making some serious waves in the retail world. In fact, by 2025, the global social commerce market is expected to reach a staggering $1,581.9 billion (source: Statista).
With everyone and their grandma on social media these days, businesses are jumping on the bandwagon, using shoppable posts, influencer collabs, and ads to get us clicking and buying.
Ever seen a cool product on a post and wished you could buy it right there? Well, now you can! Shoppable posts let you shop online without leaving your feed. One click, and voila, it’s in your cart. And guess what?
This nifty feature is boosting sales like crazy. In 2020 alone, 55% of online shoppers made a purchase through a social media platform (source: Retail Dive). It’s not just a trend; it’s the future of online shopping.
You know those popular folks on social media platforms who make everything look so cool? They’re influencers, and they’re changing the game.
Collaborating with them is like having the coolest kid in school wear your brand.
The result? Trust, visibility, and yes, sales.
Here’s a fun fact: 80% of consumers are more likely to buy products endorsed by influencers (source: Oberlo). And with 89% of marketers saying ROI from influencer marketing is comparable to or better than other marketing channels (source: Yahoo Finance), teaming up with influencers is definitely a power move.
Read more about the importance of influencer marketing.
Social Media Advertising
Ads aren’t just those annoying things you skip anymore. They’re tailored, engaging, and, dare I say, fun? From sponsored posts to snazzy video ads, businesses are pulling out all the stops to grab our attention. And it’s working! Social media advertising isn’t just about visibility; it’s about engagement and driving those sales numbers up. In fact, 43% of e-commerce sales come from returning customers, which shows the power of brand loyalty often built through effective social media advertising (source: Business Insider).
Embracing Omnichannel Strategies
Ever felt like the lines between online and offline shopping are blurring? You’re not alone! Omnichannel strategies are the talk of the town in the eCommerce world.
Because they’re blending the best of both worlds: the convenience of online shopping and the tactile experience of physical stores.
Hold onto your hats, folks! Mobile shopping online is not just growing; it’s exploding.
Did you know it’s projected to hit a jaw-dropping $2.2 trillion globally by 2023? (source: Statista) That’s a lot of shopping carts! In this digital age, offering a seamless shopping experience across devices is not just nice to have; it’s a must. And businesses that get this are the ones you’ll see leading the pack.
Bridging the Online and Offline Gap
Ever bought something online and picked it up in-store? That’s the magic of integrating physical and digital retail. It’s all about giving you, the shopper, options and convenience. And businesses? They’re loving it too. By offering options like click-and-collect, they’re boosting sales and keeping customers like you and me super happy.
Mobile App Optimization
Let’s admit it, our phones are like extensions of our arms. And with 60% of e-commerce sales generated via mobile devices in 2023 (source: Statista), businesses better make sure their apps are top-notch.
Smooth shopping experiences, quick load times, and easy checkouts? Yes, please!
Online Marketplace Collaboration
Ever noticed how brands are popping up on places like Amazon and eBay? That’s because teaming up with these giants can skyrocket sales.
And it’s not just about visibility.
These platforms offer resources that can save businesses big bucks. Plus, they’re learning from the best. Take Amazon, for instance. They’re harnessing the power of AI for personalized shopping and wooing customers with perks through Amazon Prime.
Green Commerce: Sustainability in Ecommerce
Noticed how your favorite brands are getting a green makeover?
That’s because the future of shopping is sustainable. With 88% of consumers wanting brands to help them make a difference (source: Fast Company), green commerce is no longer just a buzzword; it’s a movement.
Ever heard of ‘naked packaging’?
No, it’s not the latest fashion trend! It’s all about ditching unnecessary packaging. Lush Cosmetics is leading the charge here. They’re selling many of their products without any packaging.
Yep, you read that right! It’s a bold move that’s not just saving the planet but also resonating with eco-conscious shoppers. And with the sustainable packaging market expected to reach $440.3 billion by 2025 (source: Businesswire), this is one trend that’s here to stay.
Shipping without the guilt? Sign me up! Brands like Etsy are stepping up by offsetting all carbon emissions from their shipping. It’s not just about being kind to Mother Earth. It’s also about connecting with customers who care.
And let’s be honest, who doesn’t love a brand that’s doing its bit for the planet?
It’s not just about what you buy; it’s about where it comes from. Brands like Patagonia are setting the gold standard. They’re ensuring their products are made ethically, respecting both the planet and the people.
Fair wages, safe working conditions, and a big thumbs up for the environment? That’s what we’re talking about!
Enhancing Customer Experience with AR/VR Technologies
Ever wished you could try on that dress or see how that couch fits in your living room without leaving your home?
Welcome to the world of Augmented and Virtual Reality in eCommerce! It’s like stepping into a sci-fi movie, but it’s real, and it’s here.
Imagine seeing a product in 3D, rotating it, zooming in, and interacting with it, all from the comfort of your couch. You can do it with AR/VR! It’s like window shopping, but way cooler. And guess what? This isn’t just fun for you. For businesses, this means happier customers, more sales, and fewer returns.
In fact, 71% of consumers say they would shop more often if they used AR (source: Eclipse Group). So, it’s a win-win!
Virtual Fitting Rooms
No more guessing your size or wondering how that hat might look on you. Virtual fitting rooms are here to save the day! Try on outfits virtually and see how they fit. It’s like having a personal stylist and a fitting room right in your pocket.
And for businesses? Fewer returns and more satisfied customers. Cha-ching!
Ever walked past a store and wished it could come to life? With AR/VR, it can! Interactive storefronts are turning eCommerce shopping into an experience. It’s not just about buying; it’s about engaging, exploring, and enjoying.
And businesses that are diving into this? They’re not just keeping up with the times; they’re setting the pace.
They are talking about you online. Track publicly available brand mentions with our AI-powered tool.
Flexible Payment Options for Better Customer Experience
Ever been excited about a purchase only to abandon your cart because the payment process was too complicated? We’ve all been there.
But guess what? eCommerce is evolving, and flexible payment options are leading the charge.
Remember the days of typing in your card details for every purchase? Well, those days are fading fast. Digital wallets are here, and they’re making shopping online as easy as a click.
Safe, fast, and oh-so-convenient. And with 55.4% of global internet users having made an online purchase via mobile in 2020 (source: LLC Buddy), businesses that embrace digital wallets are clearly in tune with what shoppers want.
Bitcoin, Ethereum, Dogecoin… sound familiar? Cryptocurrencies are more than just buzzwords; they’re the future of online transactions. Offering a secure and private way to shop, they’re a hit with the tech-savvy crowd.
Buy Now Pay Later Schemes
Ever wished you could split your payment over a few months? “Buy now, pay later” schemes are making that dream a reality.
Shop now, enjoy your purchase, and pay in easy installments. It’s like layaway, but cooler.
And for your eCommerce business, it’s a game-changer. Offering these options means happier customers and more sales. Win-win!
So, next time you’re shopping online, look out for these options. They’re not just making payments easier; they’re revolutionizing the way we shop!
The Growing Popularity of Subscription Services
Ever found yourself eagerly waiting for that monthly box of goodies to arrive at your doorstep? Or perhaps you’ve enjoyed the convenience of having your favorite products delivered without lifting a finger?
Welcome to the world of subscription services!
Recurring Revenue Stream
Imagine a world where you can predict your earnings and plan for the future with confidence. Sounds dreamy, right?
That’s the magic of subscription services for businesses. They offer a steady flow of income, making those unpredictable sales slumps a thing of the past.
And did you know? The global subscription e-commerce market is expected to hit $478 billion by 2025 (source: UnivDatos). So, if you’re a business owner, this is a train you might want to hop on!
Enhancing Customer Loyalty
Subscription services aren’t just about products; they’re about building relationships.
Offering tailored experiences and the sheer convenience of regular deliveries, these services are turning casual shoppers into loyal fans. It’s like having a coffee with a friend every month, but in the form of your favorite products.
Reducing Churn Rates
Let’s face it, keeping customers is just as important as getting new ones. And in the subscription world, reducing churn rates is the name of the game.
By focusing on what customers truly want and sprinkling in some extra perks (think discounts and loyalty programs), businesses can keep their subscribers happy and coming back for more.
So, whether you’re a business looking to dive into the subscription model or a shopper enjoying the perks, one thing’s for sure: subscription services are here to stay, and they’re changing the game!
Voice and Visual Searches: Optimizing Ecommerce for Emerging Technologies
Ever tried asking your smart speaker where to buy that trendy summer dress? Or maybe you’ve snapped a photo of a cool gadget and searched for it online?
Welcome to the world of voice and visual searches!
As voice and visual searches gain significance, businesses adapting to these trends will maintain a competitive edge.
Voice Search Optimization
Did you know that by 2023, 50% of all searches will be voice searches? (source: Oberlo)
That’s right! People are talking, and businesses need to listen. To make sure your business pops up when someone asks their device, it’s essential to make your website mobile-friendly and use a conversational tone in your content. Think about how people talk, not just how they type!
And hey, if you’re looking to stay ahead of the curve, tools like Brand24 can be your crystal ball, helping you listen to your customers.
Visual Search Optimization
Ever seen something you loved but didn’t know what it was called or where to buy it? Visual search to the rescue! It’s all about snapping a pic and finding that product online. For businesses, this means ensuring your images are top-notch.
High-resolution photos, optimized with relevant keywords, are the way to go. And with the image recognition market expected to reach $53 billion by 2025 (source: MarketsandMarkets), it’s a trend you can’t afford to miss.
So, what’s the takeaway? 2024 is shaping up to be a rollercoaster ride for eCommerce! With AI and machine learning steering the ship, social commerce, omnichannel strategies, and eco-friendly practices riding the wave, the future looks bright (and green!).
And let’s not forget the game-changers: voice and visual searches, flexible payments, and subscription services. They’re not just trends; they’re the future. For businesses, it’s all about staying ahead and adapting. For shoppers? Well, the online shopping world is about to get a whole lot cooler. Here’s to the future of eCommerce!
Frequently Asked Questions
What’s trending on e-commerce?
E-commerce subscriptions are on the rise and expected to continue growing into 2023, as consumers appreciate their convenience, value, and personalized product recommendations.
What are the future trends in e-commerce?
Mobile shopping is on the rise, with AI providing personalized shopping experiences and more people opting to buy on their smartphones. We can expect to see further growth in social commerce, personalization, AR/VR, subscription services, and sustainable and ethical shopping practices as key future trends in e-commerce.
What is one of the biggest trends in e-commerce?
Mobile shopping is one of the biggest trends in e-commerce, with 21% of users accessing retail shopping applications several times a day and 35% interacting with shopping apps multiple times a week. This trend is only expected to grow over time.
What is the trend in e-commerce in the US?
The US e-commerce market is growing rapidly, with revenue expected to reach $915 billion by 2023 and $1.4 trillion by 2027. Currently representing 23% of retail sales, analysts predict US ecommerce to increase to 31% by 2026, driven by the growth of popular sites such as Amazon.
How is AI transforming the ecommerce industry?
AI is transforming the ecommerce industry by delivering personalized recommendations, improving customer support, and optimizing inventory management, offering a more efficient and enjoyable shopping experience.