The tougher times of 2022 have created more resilience in e-commerce; businesses have become more agile to remain competitive and this can be seen in 2023.
Years ago, only 17.8% of sales were made from online purchases. That number is expected to grow and reach 20.8% in 2023, that’s a 2 percentage point increase in e-commerce market share and this growth is expected to continue.
Consumer buying behaviours have evolved as online shopping has rapidly grown. As our technology continues to develop e-commerce companies need to adapt and innovate to stay ahead. By staying on top of these trends, companies can position themselves for success.
Social shopping
87% of shoppers online use social media to make shopping decisions, with 55% of smartphone users purchasing a product after seeing it on social media. Platforms like Instagram and TikTok are now developing the platform to make it easily accessible to buy these viral trending products.
Multichannel personalisation
Multichannel personalisation can be tailored to a shopper’s preferences, creating personalised interactions that boost customer loyalty and sales across devices.
Personalisation involves much more than recommending a relevant product. It requires a recognisable and enjoyable shopping experience, regardless of which device a consumer may be using.
E-commerce platforms can continue to enable anyone to sell their products and sync their catalogues across their branded online store, physical stores, social media, and marketplaces, and this list will continue to grow.
Conversion tools will be critical
There are many tools that you can use to optimise your conversion. You might be using some already? Google Analytics, heat maps on your e-commerce store, user testing, data mining to name a few. In order to succeed 2023 is the year it is vital for a business to stay alert and keep up with the latest trends to optimise sales opportunities.
A good customer relationship management (CRM) system is essential, other solutions are looking at engagement to help businesses connect with customers and prospects. Consider using analytical tools, click trackers, and testing solutions.
Customer retention
Another key trend in 2023 will be businesses focusing on building relationships with new and existing customers. Why? This is because businesses are becoming more customer-centric and it is easier and cheaper to build on customer loyalty than to try and invest in new customers.
If you haven’t built a relationship with a consumer and they can find what you sell for cheaper elsewhere, you’ll likely lose them. On the other hand, if you’re consistently providing value for the customer and a positive shopping experience, personalisation, and genuinely satisfying customer service, you are likely to keep this customer and in turn keep sales.
Ways to keep customer retention at a high and also going back to personalisation – how you can increase a customer’s shopping experience below…
- Display reviews on your website
- Offer your customers their favourite payment options
- Personalise the customer journey
- Offer discounts or reward programmes
If you need help with your own marketing activities the expert team at Brighter Directions can help with any PR, social media, email marketing, or content strategy.
Get in touch today on hello@brighterdirections.co.uk or call us on 01246 586 330.
