CEO and cofounder of e-commerce development agency Magebit.
E-commerce is akin to a living organism that is continually changing, developing and expanding. These changes are playing an increasingly influential role in the daily lives of shoppers. Along with technological advances, businesses have many new opportunities to provide an outstanding shopping experience, and the most enterprising retailers are quick to take advantage of them.
What trends are on the e-commerce horizon in 2023, and which solutions should companies focus on to stay ahead of the game instead of playing catch up?
An Authentic User Experience
People increasingly crave authenticity, that is, less-fabricated advertising—and “natural” reviews. As a result, user experience will become increasingly important next year. People are ready to pay more and to pay regularly provided that they like the experience (this is not just applicable to design but to the entire shopping cycle).
A lot of people do their shopping on mobile devices, so mobile design should be very convenient and user-friendly. “Slicing up” an online store and moving it onto a phone platform is no solution because even shoppers with average user skills will notice the difference.
More Attention To The Full Shopping Cycle
Multi-channel shopping will remain relevant. Despite the fact that this practice is already widespread globally, it still has room to grow. For example, many companies in Latvia, in my experience, have still not stepped out of their comfort zone and continue to stick to doing business in their usual channels.
However, there are also plenty of businesses out there striving to reach their customers through different channels, and these companies could be the biggest winners. Most likely, demand for B2B online solutions will continue to grow: This trend has already been evident this year and is likely to become even more pronounced in 2023.
One potential challenge that companies might face in responding to this trend is the need for a significant investment in technology and infrastructure. Integrating different channels and implementing personalized experiences can be complex and require a significant investment of time and resources. Additionally, companies will need to ensure that their systems and processes are secure and compliant with relevant laws and regulations.
Moreover, delivery will have to speed up (and preferably be free of charge) in order for businesses to stay competitive, particularly in countries where standard deliveries still take a week.
A Bigger Role For B2B And Technology Upgrades
Although most retailers make their biggest profits from B2B, retailers often still neglect the B2B user experience on the grounds that customers “will make the purchase anyway.” However, the ice has been shifting for some time now, and the B2B segment is growing in countries (including Latvia) where this trend was previously not that evident.
Businesses that can afford to do so will increasingly focus on smart personalization on their e-platforms. For example, from what I’ve seen with customers at Magebit, smart search is now also standard for online stores outside the U.S.