Online marketplaces are busier than ever and, as a result, many entrepreneurs are differentiating their e-commerce stores by embracing e-commerce tech trends. 2023 is off to a challenging start for many, but these technological trends will make your store stand out from the crowd.
We’ve already covered some e-commerce product ideas for 2023, but how you sell these items could be a game-changer. Let’s analyse some of the top e-commerce tech trends 2023 will bring and how you can implement them.
Voice search for e-commerce
Smart speakers, such as the Amazon Echo and Google Home, are recent inventions but their acceptance rate has been exceptionally high with everyone from teenagers to the elderly embracing the easy-to-use technology. In the USA, around 50% of all internet users are actively using voice search and the UK is hot on its heels.
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How to implement for your store:
- Optimise your content and SEO specifically so it is voice-search-friendly. This includes optimising listings for questions and using natural conversational keywords.
- Implement voice-based website navigation on computers and mobile devices.
- Do some dry runs of your customer journey to ensure they can buy a product with ease using solely voice commands.
AI and AR experiences
It may seem a little intimidating to implement but AI and AR are two of the top e-commerce top trends expected to grow in 2023.
E-commerce shoppers are looking to fully replace, or even upgrade, the high-street shopping experience and that means filling in some gaps. An increased number of brands are reducing return rates and improving customer satisfaction by allowing consumers to virtually ‘try and test’ products. Whether it be virtually styling outfits, trying on rings, or testing make-up, AR is enhancing the online shopping experience.
How to implement for your store:
- Use AI bots to offer personalised guidance and recommendations based on their purchase or browsing history. You can even go so far as to create an AI personal shopping assistant who will help them locate initial items to browse.
- Get past the trying-on hurdle by integrating Augmented Reality (AR) for your clothing or beauty related products. Letting potential customers “try-on” their items is likely to increase conversions and decrease returns.
Mobile commerce
Every e-commerce entrepreneur is aware of the massive growth of mobile device usage for e-commerce. People are more comfortable than ever with their smartphones and as a result, expect a fast and seamless user experience when they do so.
In 2022, over half of all online sales were made via a mobile device, such as a smartphone or tablet. In 2023, e-commerce stores should capitalise on this trend for a boost in sales and brand awareness.
How to implement for your store:
- Ensure your site performs just as well, if not better, on mobile devices. Load speed, scroll distance, image size… all must be perfect to keep people from abandoning their cart. You can use Google’s Mobile-Friendly tester to check your site.
- Implement accelerated mobile pages (AMP) to maximise the speed of your mobile site.
- Remove any unnecessary steps to shorten the time from browsing to cart.
- Test, test, test! Check your site personally on your mobile device and make a note to check it regularly for any issues.
Increased payment options
We saw this e-commerce tech trend emerge in a real way in 2020 and it is set to continue in 2023 and beyond. Consumers have a wide array of online payment options available to them now and have shown they are willing to abandon a cart to use an e-commerce store that uses their favoured option. No longer are the options of Visa, Mastercard and PayPal enough to satisfy customers and secure sales once at checkout.
How to implement for your store:
- If your store doesn’t accept digital wallets, such as Google Pay, Samsung Pay, or Apple Pay, you are losing custom. Platforms such as Shopify often have this capability built-in, so make a point of opting in.
- Consider whether you should accept cryptocurrencies. Although far from the norm, some e-commerce stores are now accepting crypto payments to offer more payment options and take advantage of the low transaction fees. It’s not for everyone but if you are already investing in cryptocurrencies, it may be worth the leap.
Dynamic pricing software
Dynamic pricing software is an increasing e-commerce tech trend for those who sell on busy, competitive marketplaces such as eBay and Amazon. These handy apps optimise your pricing on a continuous basis, making sure your products are marked at the right price to stand out in a competitive market.
How to implement for your store:
- This is fairly straightforward. Hook up your products to the app of your choice and it will pick the right price. N.B. Right doesn’t mean cheapest! It will assess demand, perceived value, competitor’s prices and give you the best profit margin it believes to be achievable.
Next Steps
If you are looking to grow your e-commerce store or need help creating accurate accounting records, please get in touch with our team. Whether you implement one, two, or all these e-commerce tech trends, 2023 promises to be a great year for growth in the sector.
The best time to act is now for e-commerce accounting.
Related articles
https://unicornaccounting.co.uk/blog/how-to-automate-your-e-commerce-business/
https://unicornaccounting.co.uk/blog/5-tips-for-increasing-ecommerce-sales-this-christmas/
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