The world seems to change rapidly with each passing year, and that’s never been more true than it is for E-commerce. Digital marketing is a shifting, twisting landscape that only the savviest business owners emerge from (profitably, at least).
E-commerce trends in 2023 are all evolutions of technology that have been cooking for years. Now, they are finally becoming viable. Things like AI in E-commerce, large online marketplaces, cryptocurrency, social commerce, and more are changing the game as we know it.
So how are you going to stay ahead of the pack and find success? By taking advantage of these lucrative E-commerce trends in 2023. Let us guide you in the right direction!
Machine Learning for SEO
With recent advances in artificial intelligence, the companies catapulting E-commerce forward in 2023 are banking on machine learning to simplify not only their own work but the experience of their customers as well. This is the emergence of AI in eCommerce.
How much easier would your job be if you had artificial intelligence telling you what trends and keywords to target first, or helping you handle customer support? The programs and hardware are already here, you need to feed it the data.
Of course, that’s the hard part — finding quality data. But once you have that locked down, you can hand off the reigns to your virtual mastermind!
Machine learning uses algorithms that learn from customer data and behavior to make things more efficient. For example, search results get more accurate and relevant, recommendations become super personalized, and chatbots get way better at understanding and responding to customers. Basically, machine learning makes everything quicker and more helpful for customers, which is what it’s all about!
Dominance of Large Online Marketplaces
If you’ve been attempting to drive traffic to your business’ website for increased sales but feel like it’s a fruitless uphill battle against the big dogs… you’re right. As powerful as optimized SEO and marketing tactics are, there are some things that you just can’t do as Amazon does.
That’s no reason to give up the good fight, though. It’s 2023 —if you can’t beat ‘em, join ‘em.
Let’s take Amazon as an example here, although this can go for many other large online marketplaces like eBay, Shopee, Rakuten, and more. These platforms allow third parties (like you) to post their own products on the marketplace.
Posting your products on a large online marketplace like Amazon can be a great way for small online businesses to boost their sales and reach a wider audience. Amazon has millions of active customers, so by posting your products there, you’re exposing them to a much larger audience than you would be if you only had your own website.
Another advantage of using Amazon is improved credibility. People trust and prefer to shop on well-established marketplaces, so having your products listed on Amazon can give your business a boost in credibility.
Leveraging Social Commerce
Social commerce is technically a concept that has been around for literal ages. Essentially, it means utilizing the power of social credibility as a marketing tool. Even peasants in the ancient Roman Empire would prefer to buy from the farmer that their community trusted the most.
So, why is social commerce so cool for eCommerce business? Basically, it leverages the power of word-of-mouth. People trust their friends and social media connections more than traditional ads. Plus, social media platforms have massive user bases and can provide super-targeted audiences right to your ad space.
It’s in your best interest to create ad campaigns, social media posts, and especially products themselves that people are excited to see or talk about online. Platforms like Facebook and Instagram have made it easier than ever to add post options that allow viewers to purchase things they see on their feeds.
Leveraging social commerce correctly means adopting the necessary tools to make buying you products or services on social media easy, and then marketing it in a way that promotes sharing and other engagements like comments to take advantage of your customer’s social circles online.
Sustainability & Purpose
Things aren’t as cut-and-dry as they used to be when it comes to what customers want from their products and services. It’s no longer as simple as filling a need or want. E-commerce in 2023 requires mindful attention to the way your business impacts society and the world around it.
The sustainability of products (or a company’s energy usage, waste output, etc) is now a huge factor for many consumers. With so many options online, why would they not go with the company that makes fully-recyclable products or plants a tree for every purchase? There are a million different ways to approach this — the trick is finding out in what unique way you can set your brand apart and save the Earth at the same time.
This is where “purpose” comes into play. Customers will pay attention to everything from your mission statement to the state of your manufacturing. If you can align yourself with the values of your target demographic you’ll reap the benefits in 2023.
Crypto Payment Preference
Now more than ever is cryptocurrency becoming a valid payment option. While crypto like Bitcoin and Ethereum was originally garnering a ton of hype for its potential growth in value, that is no longer the only reason people are “holding.” These virtual coins suddenly have enough value to be considered usable in transactions.
Did you know that the majority of online retailers claim to be preparing to receive payments in select digital currencies within the next two years? We’re not saying that everyone and their dog will suddenly be paying in crypto, but the number of customers who would prefer that option is rapidly growing.
Setting up payment methods that are crypto-friendly isn’t going to be the game-changer that boosts your profits to the moon, but failing to provide this type of purchase option is only going to lose you sales. There will only continue to be more people that would like to pay using Bitcoin (for example), and as you know, every sale counts! Don’t let these trailblazers slip through the cracks of your online cart.
Capitalizing on E-commerce Trends in 2023
These emerging E-commerce trends are a major part of No to The Quo’s arsenal that we use to supercharge our client’s digital marketing, and we believe that bringing you A-game means utilizing every tool available.
N2Q Consulting has grown from a kitchen-based social media management company to a full-service digital marketing agency over the short span of five years. The downtown Seattle agency has rounded up a team of experts in their fields who deliver top-notch results. From SEO and PPC to web design and branding, No to The Quo works every day to elevate their clients’ brands to new heights.
Let’s sit down and talk about what your brand could be, and how we can help you realize its full potential — we’ll even buy the coffee!
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