These are turbulent times in the world of e-commerce, and things are showing no sign of levelling out as we enter the autumn/winter season and look forward to a new year. At the peak of the coronavirus pandemic, the amount of people making purchases online soared. And even when shoppers returned to the high street after restrictions were lifted, the ecommerce business remained booming. But now a combination of factors such as rising inflation, supply chain issues, and increased cost of living, have caused the market to plummet.
So what can we expect from ecommerce in 2023? Well, experts have identified three trends that we can expect to emerge in the months to come.
Thanks to inflation, households across the country will find themselves with less disposable income — but of course that doesn’t mean that they will cut spending entirely. Instead, we’re likely to see an increase in the amount of research that shoppers put into purchases before clicking that all-important ‘Add to cart.’ For ecommerce stores, this means that those who invest in building a trustworthy online profile populated with positive customer reviews will be in a great position to succeed. And for those wanting to understand more about how the market might act in the throes of recession, experts suggest researching consumer trends that emerged between 2008 and 2010.
One trend that has been noted in recent months is the rise of livestream shopping — a form of marketing which involves promoting a product or service via a live video hosted on a streaming platform. Think of it as similar to the home shopping programs you watched as a child, but live and unedited, with plenty of opportunities for viewers to engage with the host in real-time. From Instagram, Amazon and Facebook’s Live features to Twitch, TikTok and more, there are plenty of platforms that enable ecommerce stores to launch livestream shopping campaigns, and it’s likely that even more will emerge in 2023. As social media celebrities come to wield more and more influence over shoppers, this is one trend that’s surely here to stay.
The ecommerce divide
As consumer habits have changed over the years, experts have noticed a shift in attitudes towards both ecommerce and in-store shopping. In this digital age, shoppers know that they can have whatever they want delivered to their door in hours, and that has forced physical stores to adjust the experience that they offer accordingly. Now, in-store shopping is associated with discovery and surprise, while ecommerce is seen as the reliable option. But that doesn’t mean that online stores can rest on their laurels: consumers expect a sophisticated, smooth and hassle-free environment when shopping online, and are quick to switch up their loyalties when their needs are not met. Moving into 2023, experts predict that the divide between ecommerce and in-store shopping will continue to grow.