eCommerce Predictions for 2023
Wondering what is on the horizon for eCommerce in 2023? In this guide, we detail our eCommerce predictions for the new year.
As eCommerce continues to grow, so do innovations that solidify its momentum. Across customer experience, site performance, promotion techniques, and renewed business models - online sellers continue to push the boundaries to maximize the benefits gained. As a world-leading provider of eCommerce, CMS, PIM, and Marketing solutions, we have a few eCommerce predictions to share with you. In this guide, we look ahead to the eCommerce trends 2023 that include:
- A decline in brick-and-mortar sales
- An increase in mobile shopping
- A popularity spike in flexible payment options
- A mature leap to eCommerce
- A wave of headless eCommerce implementation
- An increase in expansion to online marketplaces
- A spotlight on sustainability
Brick-and-Mortar Sales Will Decline Relative to Online Sales
From retail giants to the next great startup, companies are finding their footing with eCommerce. So are customers. As online shopping increases, global in-store sales and growth metrics will continue to decline. The shift to eCommerce is so substantial that even the Forbes guide to retail marketing in light of the brick-and-mortar decline includes many online marketing tips.
Mobile Shopping Will Increase
These days, smartphone use is nearly ubiquitous, and the list of things we cannot do with smartphones is quickly shrinking. Mobile shopping is already a well-established activity and will continue to increase throughout 2023 and beyond. Let's take a look at some data. In 2022, mobile commerce surpassed both desktop and in-store shopping growth rates. In the United States alone, sales exceeded 430 billion dollars. By 2025, the sales value is expected to reach 710 billion dollars.
Flexible Payment Options Will Become More Common
Every customer has their favorite way to pay, especially in the B2B world. It is becoming increasingly helpful for eCommerce businesses to offer flexible payment options as a company risks losing a sale if they do not provide the right one. Popular payment options include:
- Credit and debit card
- Bank transfers
- App payments
- Electronic wallets
- Electronic checks
- Installment plans
- Subscription models
- Automatic invoice generation, particularly for B2B customers
Few eCommerce stores offer all of these options today. However, for 2023 and beyond, it is crucial to understand customer expectations and offer the payment methods your customers prefer.
Mature Business Models Will Adopt eCommerce
Many mature businesses today rose to prominence before eCommerce swept the globe. Despite the widespread popularity of eCommerce, many of these established businesses have not yet fully embraced digital transformation, particularly in manufacturing. In 2023, we can expect more mature business models to make the leap to adding eCommerce. This transition will likely result in additional innovations as both the businesses and the solutions adjust to the market changes.
More Businesses Will Opt For Headless eCommerce Solutions
Businesses are increasingly adopting headless eCommerce solutions to benefit from increased flexibility and control and provide impressive customer experiences. Because the customer-facing front-end is separated from the back-end commerce functionality, it can be updated without impacting the underlying technology. We will likely see more and more businesses opt for headless eCommerce solutions so they can create any eCommerce experience they can imagine. Think flashy, cutting-edge website experiences combined with eCommerce, like Apple’s website.
More Businesses Will Add Online Marketplaces to Their eCommerce Strategy
Today's customers shop in many ways - some are loyal to one store, like Amazon, while others price hunt across them all. Wouldn't you reach more customers if your products were in all of them? In 2023, we expect to see more businesses add online marketplaces to the eCommerce mix to grow in the increasingly competitive environment.
Sustainability Will Become More of a Priority
Sustainable business practices and "greener" shopping experiences are on the rise. Customers and businesses are becoming more conscious of their impact on society and the environment, so we can expect sustainability practices to blossom in eCommerce in 2023. Green eCommerce will likely take on many different forms, but may include:
- Supply chain review to assess and reduce the environmental impact of production, packaging, and distribution
- Efforts to offset carbon emissions
- Switch to data centers that run on renewable energy
- Green marketing endeavors to broadcast any and every sustainability effort
Here at DynamicWeb, we run several thousand eCommerce solutions on green energy. At our data center, we work with suppliers that have A+ energy efficiency ratings, are 100% Co2-neutral, and run on sustainable energy, mostly from Nordic hydropower.
To learn how one of our client's integrated sustainability into their eCommerce business, read this case study: Ege Carpets - New Aesthetical Web Solution with CMS, DynamicWeb PIM, and a seamless ERP integration.
To learn more about eCommerce trends, download the free whitepaper: The Latest B2B eCommerce Trends - How Self-Service Portals and eCommerce are Transforming B2B.
To future-proof your eCommerce business, contact us today.