3 Ecommerce Trends to Watch Out for in 2023
In the world of ecommerce, keeping up with the latest trends is crucial for businesses.
For Shopify store owners looking to stay ahead of the curve, these trends offer opportunities to engage with customers, expand into new markets, and improve efficiency. By incorporating these trends into their ecommerce strategies, Shopify store owners can build resilient businesses that thrive in a rapidly changing landscape.
In this blog post, we’ll explore three ecommerce trends to watch out for in 2023 that Shopify store owners should be paying attention to.
Trend 1: Social commerce will boost engagement and expand the reach
As social media usage continues to grow, brands are turning to social commerce to build relationships with new customers and deepen loyalty with existing ones.
Adding video to your ecommerce strategy can help boost engagement and revenue.
Businesses can use videos on product pages to offer details and tutorials and even collect reviews. Video can also help set the right expectations for customers and reduce the likelihood of returns. As social media platforms continue to roll out new video and shopping features, social commerce is set to become an even more important trend in 2023.
Trend 2: Marketplaces will provide supply-chain relief and growth opportunities
In 2023, more businesses will turn to marketplaces to fill inventory gaps and provide personalization.
Marketplaces offer a way for businesses to expand quickly into new markets and gain access to first-party customer data. With supply-chain challenges and inflation expected to continue, marketplaces can help businesses build much-needed resilience.
Marketplaces also enable businesses to quickly expand their product catalog and cross-sell products that were once outside their offerings.
Third-party sellers in diverse markets can ease supply-chain challenges and speed up delivery and fulfillment. With nearly half of the enterprise-level organizations prioritizing building a digital marketplace in the next two years, this trend is set to accelerate in 2023.
Trend 3: Data management will increase efficiency
As businesses collect more data than ever before, managing that data has become a top priority.
Customer data platforms (CDPs) are becoming increasingly popular as businesses look for ways to consolidate and analyze data to gain actionable insights. With stricter privacy regulations and an evolving internet on the horizon, data management will be a key trend for businesses in 2023.
As the cookieless future approaches, businesses that prioritize data management will be better equipped to navigate the changing landscape of ecommerce.
Summing up, these ecommerce trends are set to dominate the ecommerce industry in 2023. To stay ahead of the curve, Shopify stores must equip themselves with the right tools and in such times Shopify Made Easy app may come in handy.