5 global E-commerce trends for 2023
As 2023 brings new opportunities and challenges, we want to share our observations on what’s going on in the eCommerce world, so our clients can use this to grow their sales. Last year things started moving and shifting around, so let’s see what we have to keep up with this year?
1. Social media sales continue to grow
Surveys show that when it comes to online shopping, social media are the main influence source, and their power is increasing - the number of online shoppers that use social media while making shopping decisions is now 87%. (Source: socialmediatoday.com)
Also, we know that 55% of smartphone shoppers have purchased a product after seeing it on social media. (Source: readycloud.com)
2. Biometrics are saving time and increasing sales
This type of identity verification is familiar, simple from UX-perspective and time-saving. 74% of consumers around the world have a positive attitude toward biometric technology, and 86% of consumers are interested in extending the use of biometrics to verify their identity or make payments. (Source: usa.visa.com) We are expecting a growing demand for biometrics, especially when it comes to eCommerce payment flows.
3. Sustainable offers win customers over
66% of users are happy to pay more for sustainable products, and 42% of online shoppers choose brands depending on the sustainable packaging they might offer. (Source: forbes.com)
Rethinking your impact on the planet has never been so profitable for eCommerce owners. Even small things like less packaging or paper packaging offered during checkout have a positive effect on customer’s loyalty.
4. Mobile leads the sales
Mobile commerce is growing 300% faster than traditional eCommerce, so eCommerce owners have to optimise their online stores for mobile devices to avoid the risk of losing sales. (prnewswire.com) M-commerce prevails for obvious reasons: online-shopping can be done during commute, in the midst of traffic jams or while one is waiting for a doctor appointment. Online business owners should forget about simplified and decreased features for mobile and focus on full and great quality M-commerce experience for their users.
5. Checkouts without forced account creation
According to baymard.com, 69.9% is the average documented online shopping cart abandonment rate, and 24% stated they abandoned their cart because the site wanted them to create an account.
Things we are recommending to all eCommerce owners when it comes to checkout are: create minimum checkout steps, do not require people to make an account to buy, and be transparent with all costs, including payments and delivery options. This will result in high conversion rates, so it’s definitely something worth paying attention to.
We hope that this information will be useful for you and your sales will be growing together with your brand! If you have any questions regarding your existing or future E-commerce, we will be glad to have a chat with you!
Monsoon Consulting are Ireland's only Adobe Gold Solution Partner, focusing on delivering best in class B2B and B2C eCommerce solutions to large companies such as Uniphar PLC, Sysco (Pallas Foods), Topline, Heat Merchants Group, One4All and Central Bank of Ireland.
The team at Monsoon provide a full-service offering from business consultancy & strategic planning, UX & UI creative design, development & engineering, Infra & Dev ops to a dedicated Support team, offering 24x7 critical application support.
For more information on how Monsoon Consulting can help your business online, please get in touch with firstname.lastname@example.org or call +353 (0)1 4750066