With the proliferation of the internet in every part of the world, online activities have surged to new heights. Online purchase has also considerably increased in recent years, encouraging many other businesses to go online.
If you want to create an eCommerce website and mobile app, you should develop it with the latest trends and features in the market. The year 2023 is around the corner, and the trends in eCommerce industry to rule this year have started to roll out.
So, let’s take a plunge into the latest trends in eCommerce development.
Significance of eCommerce Development in Businesses
In the past few years, the eCommerce industry has made remarkable growth around the world. As per Grand View Research, the global eCommerce market size is forecasted to grow at a compound annual growth rate (CAGR) of 14.7% from 2020 to 2027. This enticing growth in the sector is luring many sellers into setting up their e-stores. This stat tells the story of the success of the eCommerce industry worldwide.
With online shopping being the new normal for people buying almost anything from the comfort of their homes, eCommerce has become a great source of income for businesses. Hence, eCommerce development services are in full swing around the world.
eCommerce is getting attention around the world as it provides ample benefits to businesses, such as:
- It helps to expand your business with a low budget.
- You can take your business to the global market with eCommerce.
- You can get various marketing solutions through eCommerce.
- You will be able to deal with your customers 24X7.
- Your customers can get a more convenient and personalized shopping experience.
- It helps you to improve your business based on customer feedback.
- It provides an accessible transaction medium.
Want to know more about eCommerce development? Read our blog eCommerce app development guide.
Top eCommerce Development Trends for 2023
Smart speakers such as Amazon Alexa and Google Home are increasing in popularity, advancing voice commerce worldwide. Moreover, mobile services such as Siri and Cortana are widely used to carry out tasks like online shopping.
Based on the comprehensive research report by Market Research Future (MRFR), Smart Speaker Market is expected to grow at a CAGR of 16.30% from 2022 to 2030, reaching approximately USD 36.4 Billion by 2030. With this new trend of online shopping in 2023, smart speakers will be your ticket to online shopping soon.
So when you decide to create an online store, consider incorporating voice commerce in your eCommerce website development strategy to get greater ROI.
Here are some ways to prepare your eCommerce site for voice search:
- Optimize content to appear in voice queries.
- Ensure a simple flow to buy your products through voice search.
- Add new skills to Google Assistants and Amazon Alexa.
- Provide voice-based navigation on your app or website.
A key eCommerce trend that you must take advantage of!
With advancements in various advertising areas, businesses are using a mix of marketing channels. Since Facebook and Instagram shopping features are enhancing, eCommerce store owners have started integrating social media into the platforms, allowing them to grab the best deals.
As a result, live commerce is emerging as a new trend in various countries. This marketing channel allows shoppers to interact with the brand and get exciting deals and product prices via live streaming.
One of the prevailing eCommerce trends is advertising on connected TV (CTV) to reach viewers beyond the reach of traditional Linear TV. With the increasing intensity of online ads on social media platforms, people can conveniently be aware of the products and follow respective links to buy their desired products.
Social commerce will immensely impact the eCommerce web development industry. Hence, social media integration is a prudent step toward developing successful eCommerce websites.
AR, VR, and Metaverse
Today, most people are acquainted with AR (Augmented Reality) and VR (Virtual Reality) technologies worldwide. The evolution of both technologies has revolutionized many industries, and AR/VR technology is also a boon for the eCommerce industry.
One downside of online shopping that people often raise is the inability to view products clearly. AR and VR technologies are working as bridges to remove these hurdles in online shopping.
With AR technology, shoppers can visualize products in the real world, enabling them to understand whether a product meets their demands. On the other hand, virtual reality connects the real world to the virtual world, providing a practical experience of the product.
With the blend of physical, augmented, and virtual reality in Metaverse, shoppers can interact with the product in the virtual simulation and experience it just like the real world.
Online stores can offer an in-store experience and provide the necessary details to help customers make the right decisions. Hence, AR, VR, and Metaverse are excellent trends for eCommerce that will rule 2023 likewise.
Omnichannel selling is becoming essential for online businesses, as shopping is not bound to a particular channel these days. People can buy products on Amazon, eBay, and many other online platforms.
According to Harvard Business Review, it was stated that 73% of all customers use multiple channels for online shopping.
Hence, opting for multichannel selling has become the new norm in the eCommerce industry. Consider incorporating this key trend in your eCommerce development strategy.
Below are some ways to enhance the omnichannel experience for retail eCommerce development:
- Make your eCommerce store responsive to various platforms and web browsers.
- Offer personalized customer experience.
- Utilize tools like SAP Commerce Cloud to offer a personalized experience.
If you are considering B2B eCommerce development, then you should keep the omnichannel aspect in mind.
AI in eCommerce
AI (Artificial Intelligence) is well-known in the eCommerce industry for smart product recommendations. Moreover, this technology has accelerated with the evolution of better algorithms in a few years.
It was not only a prevailing eCommerce development trend last year, but it will rise as one of the significant eCommerce development trends in coming years as well.
People prefer online shopping platforms that offer them personalization. With the help of this technology, eCommerce websites and mobile apps can make more intelligent product recommendations and enhance the customer experience.
AI will assist eCommerce businesses in analyzing trends, sales channels, and buyer behavior to ascertain the best time, price, and place to list their products. Consequently, it will boost the sales and marketing efforts of businesses.
Optimization in Mobile Shopping
With the rising confidence in online shopping, customers feel comfortable shopping online via mobile devices. The number of mobile device users has increased sharply in the past few years, which has led to a mobile-dominant world.
According to Insider Intelligence, mCommerce is the preferred medium for online shopping worldwide, and by 2024, global retail mCommerce sales are expected to reach approximately $4.5 trillion. Today, businesses must pay attention to mobile optimization when it comes to eCommerce web development.
Creating mobile-optimized websites will also continue to be a popular eCommerce development trend in 2023. Creating an eCommerce website that offers a pleasing experience on desktops and mobiles has become essential to stay competitive and derive hefty revenues.
Customer service is an essential element in enhancing customer engagement and operational efficiency. Hence, developing Chatbots for web and mobile apps is a mandatory trend these days, and it is necessary to establish a streamlined conversation between users and the application.
Chatbots powered by AI technology help shoppers search for products, assist with frequently asked questions, navigate them to the correct pages, and much more.
Chatbots assist in providing a personalized online shopping experience to users. In addition, Chatbots act as an external body to customer care services and reduce their workload. They remain active 24×7 to resolve any of the challenges that occur during online shopping.
Multiple Ways to Payments
Since online payments are getting easier with digital wallets like PayPal, Apple Pay, Google Pay, etc., people rely on these mediums to pay for their online shopping. Hence, eWallet is more than just a trend; rather a necessity to avoid shopping cart abandonment and make the check-out process convenient.
An eWallet is a type of electronic card linked to your app that allows a user to send and receive money. Incorporating eWallets is essential for the transactions made through your eCommerce app. Not only is it suitable for making transactions while purchasing, but it also makes a return, exchanges, rewards points, and all these types of credit easy.
Integrating eWallet is a popular eCommerce industry trend fulfilling current needs. Moreover, it makes payment options on your eCommerce app more convenient, flexible, faster, and secure.
Provide multiple options for your customers to pay, so they do not have to enter their credit card information each time they purchase. Enabling flexibility in your eCommerce application is an excellent method to increase sales and enhance your business.
Also read: Ultimate Guide to Digital Wallet App Development
Gamification in eCommerce
Gamification is a great way to enhance the customer experience. At the same time, it makes the shopping experience more entertaining and improves sales rate, brand awareness, and customer loyalty.
The reward points, eVouchers, discounts, etc., sound too tempting to your online shopper. They leverage the people’s natural tendency for learning, competition, achievement, status, and socializing and frame them into gameplay. These gamification elements encourage the customers to explore your e-Commerce app more.
In 2023, more younger generations will be shopping on eCommerce applications. Hence, it is necessary to research the demographics on your platform to provide them with a seamless shopping experience accordingly.
Currently, the gamification trend sells as a USP of the app. Thus, an innovative gamification campaign can be a great marketing strategy as well.
Additionally, 2023 will be a pressing priority in subscription commerce. With a suitable subscription commerce model, you will be able to drive more retention and revenue.
As per Statista, retail eCommerce sales are forecast to grow by 56% and reach approximately 8.1 trillion dollars. If you are not leveraging the global eCommerce market, then you are missing out on a lot.
Hence developing a website in just English is not enough. In fact, you need to target your audience by going native with your site’s language. Customizing your application as per the region will create a good impact on your audience and add value to your business.
Want to know how to leverage cross-border commerce? Take a look at the case study of our project Hisense, where we revamped the website and implemented Arabic translation and RTL (Right To Left) layout in the website for Middle East users.
How Can We Help You?
As the trends keep changing each year, the eCommerce industry will only get bigger and better in 2023. As eCommerce business owners, you can leverage these trends in your business and benefit your customers.
A reliable and well-defined performing eCommerce infrastructure can help you build a strong foundation in terms of business. Hiring eCommerce development services can help you incorporate better functioning trends.
SparxIT is a state-of-the-art eCommerce solution provider in the market. You can embrace our eCommerce services that can meet your new consumer preferences efficiently.
It would be best if you strived to implement the latest eCommerce development trends on your websites and mobile apps to be fully updated. You can follow the above-mentioned top eCommerce development trends for 2023 to develop a robust website with excellent functionalities.
Online shopping is reaching new heights as more buyers feel comfortable ordering online. You can choose the best eCommerce development company to build a cutting-edge online store for your business and start selling online. By choosing to sell online, you can take your business to new heights and harness the potential of eCommerce websites to maximize your revenue from the retail industry.
Bring your dream eCommerce platform to life with our team of professional app developers. Contact us to develop an eCommerce mobile and web application.
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