E-commerce turnover has seen tremendous growth in recent years. In 2021 alone, sales in online stores worldwide amounted to approximately US$4.9 trillion. This figure is expected to grow by 50% in 2025 , reaching a whopping US$7.4 trillion.
Although ecommerce activity is generally believed to be focused on a business-to-consumer (B2C) sales model, the global business-to-business (B2B) ecommerce industry is projected to reach US$18.97 trillion by 2028 .
In short, the sector has years of growth ahead of it in both its B2B and B2C models. Will your online store be part of it ?
Here are the ecommerce trends for 2023 that you should pay attention to if you want this to happen:
1. Reduction of unique buyers
With the emergence of numerous online stores across different belize telegram lead sectors and product categories, one-time buyers are a problem for e-commerce owners. Customers who purchase products on a one-time basis are a direct result of low brand loyalty , due to the availability of multiple e-commerce options and numerous touchpoints.
In his interview with Forbes, Jason Finkelstein (CMO of AdRoll) mentions that 75% of consumers do not shop with the same online store again (using Shopify customer data).
One ecommerce trend to watch out for is the reduction of one-time transactions. As an online store owner, start prioritizing the customer touchpoints that deliver the best results for your business and focus your efforts on them. Also, focus on personalized service and excellent customer experience to improve brand loyalty and keep customers coming back to your online store.
2. Take maximum care of the packaging
In the past, online store owners used basic packaging for their products . In today’s competitive era, consumers are starting to pay attention to packaging as well as the materials used before making the final purchase decision. This brings us to our second trend for 2023: exclusive product packaging .
According to an Ipsos survey, 72% of Americans take into account product packaging designs, while 67% consider materials before purchasing from online stores . Additionally, two-thirds of respondents say that paper and cardboard packaging creates a sense of quality. To remain highly competitive in the industry, you need to pay special attention to product packaging. With great packaging, you can stand out from your competitors, while building your brand and increasing customer retention and loyalty.
According to the same survey, around eight out of ten people take product packaging into account when choosing a gift . Take your gift offering one step further. Make it possible to purchase your products directly as gifts for friends and family with the option to leave a personalized note on the order.
3. E-commerce purchases via mobile
Just as e-commerce business volume has skyrocketed in recent years, the increase in online purchases via mobile is also very notable. Between 2016 and 2021, e-commerce purchases made on mobile increased from 52.4% to 72.9%.
As people spend more and more time on their mobile phones, we can expect the interest in mobile shopping to increase even further. To prepare your business for what’s coming, align your ecommerce with this trend by ensuring your online store and touchpoints are mobile-friendly, so that the customer experience is convenient and shopping is easy.
4. High customer acquisition costs
Since the end of pandemic restrictions, direct-to-consumer (DTC) companies are doing everything they can to win back their customers and return to normal, which means increased competition for online stores that surged during the lockdown.
In this highly competitive landscape, ecommerce owners need to start building strong customer bases , including potential customers who aren’t customers or aren’t ready to buy yet. Focus on nurturing potential customers with valuable content through blogs or drip campaigns via email marketing .