E-commerce trends for 2023

e-commerce trends for 2023 | 3 minute read

The world of e-commerce is constantly evolving, with more of us than ever before shopping online.

Since the pandemic, there has been a record number of people shopping online, and as we begin to navigate a new year, experts are already seeing that e-commerce growth is set to be at an all-time high in 2023!

With this in mind, it’s important that you always remain one step ahead of your competitors if you want to grow your business in the digital world and you can do so by capitalising on e-commerce trends for 2023.

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We’ve created a guide outlining the e-commerce trends for 2023 which should definitely be on your radar.  After all, now is the perfect time to start strategy planning to make the most of the new year.

Adding Social Media channels as a sales channel 

Social media is now classed as one of the world’s most powerful communication tools. In fact, social media channels such as Facebook, Twitter, TikTok and Instagram now have billions of users, in all corners of the globe.

In 2023, one of the biggest trends is set to be social media channels used as sales channels. The vast majority of social media platforms are already evolving to facilitate social commerce, allowing users to purchase products and services from third-party retailers and this trend is set to get even bigger.

For example, Instagram recently launched a Shopping tab as a way for its users to explore new products and Pinterest is using buyable pins to promote items for sale.

More recently, there has been an increased focus on TikTok ads. When consumers watch sales ads on the social media app, they often don’t even realise they are doing so. For e-commerce businesses looking to grow in 2023, experimenting with social media selling and advertising features should be high up on the to-do list.

Live shopping  

Technology is a huge part of our everyday lives, and we use it to complete a whole host of everyday tasks, including shopping online.

One of the main advantages of technology is that we can access it 24 hours a day, 7 days a week, which presents a whole host of exciting opportunities in the world of eCommerce. And, this year live shopping is one mobile commerce trend that is set to take the digital world by storm, with platforms such as Instagram and Facebook having their own live streaming features to facilitate this trend.

Live shopping allows consumers to interact with your brand and product online before deciding whether to make a purchase. No more do customers have to rely on still images or products, as live shopping creates an engaging and immersive visual experience,

Shopping with independent businesses 

More people than ever before are wanting to support independent businesses by shopping local! This is mainly in light of the pandemic and cost-of-living crisis, which has seen many businesses struggle.

With this in mind, all local and independent businesses must prepare to meet the demand of an influx of new shoppers. Experts are also predicting that more consumers are prioritising buying products from purpose-driven brands that advocate sustainability and brands that prioritise environment-friendly practices.

More visuals

Visual content sells products and services. And, experts are predicting that next year will bring new and exciting opportunities to incorporate other types of content such as engaging and interactive videos, user-generated content, interactive content, and augmented reality to optimise sales and engagement.

Visual commerce took the e-commerce world to the next level throughout 2022 and changed the game entirely. Selling platforms such as Etsy push sellers to include visual interactive elements in their listings as their research suggests video listing converts more sales.

Personalising a customer’s online shopping experience

Research has indicated that 80% of consumers are more likely to purchase from a company that offers personalised content and promotions than a company that doesn’t.

In addition, personalised marketing is also set to be an important factor to convert consumers from competitor brands through email, SMS, and targeted ads.

So, personalising your customer’s online shopping experience should be high on your agenda next year!

Why choose Unicorn Accounting?

Here at Unicorn Accounting, our team of specialist e-commerce accountants is happy to chat about all of your eCommerce accounting needs. So, what are you waiting for? Let’s talk and maximise the growth of your e-commerce store.

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