Lately, many people have become dependent on technology because every activity or transaction are being done online. Working, socializing, learning, and even shopping is done through the internet. Thus, people are forced to spend more time in front of their screens out of necessity.
As a result, retail markets shifted from having physical stores to utilizing eCommerce platforms for their businesses. Companies also changed their marketing strategies to focus on online marketing campaigns. E-commerce then continued to evolve and new market trends are being created.
Because of this transition in business, online shopping has been booming now more than ever. This is because more and more people spend more time online as compared to the past. It’s a safer and more convenient way to shop since it also saves you time, money, and effort. Hence, more people now prefer it than buying in-person from physical stores.
To be able to maximize the benefits of shopping conveniently and for business owners to make their revenue grow, here are the 16 biggest online shopping trends to watch out for in 2023:
1. Livestream Shopping
Livestream shopping is a new method of selling wherein a host starts a live show through social media. The host is usually a celebrity, influencer, or someone with a substantial number of followers.
Products are then showcased and sold through live videos while viewers comment or bid if they want to buy a specific product.
Nowadays, even people with limited followers can start their own livestream too. It’s a great way to sell your own stuff and earn extra money. Moreover, people also like it because you can sell anything through it and there are now many app features that allow you to do this in much easier ways.
2. Voice Search Shopping
Voice search shopping is probably the coolest trend to watch out for. It uses voice recognition that allows customers to search what they’re looking for without typing.
It’s a way of making online shopping more convenient than it already is. It also aims to improve e-commerce accessibility. So, people with physical disabilities or the elderly can use e-commerce platforms with ease.
Furthermore, the voice shopping algorithm is also designed to yield optimum results based on your search history and preferences. This means that it’s a system designed to recommend stuff that you would really buy.
3. Shop And Play
Shopping sites now have shop and play options. This is a mechanism that combines gaming and shopping. It happens when customers are offered a game wherein, they would play and earn awesome rewards or prices.
People love to play games online. Thus, companies saw this as an opportunity to market products through gaming. It’s also considered one of the new trends in online shopping nowadays and its popularity continues to rise.
4. Same-Day Delivery
Before, online shopping wasn’t a popular option when doing purchases and only expensive rare items can be bought online. However, things have changed now because people tend to buy everything online.
For additional ease, essentials such as medicines, food, and toiletries can now be ordered online. Since the items mentioned need to be received on-time, businesses have offered same-day delivery services for their customers.
Due to high online shopping demand rates, e-commerce platforms have to adapt to the needs of consumers. Similarly, they have to find more ways to ensure customer satisfaction through faster turnaround times.
5. Multi-Reward System
E-commerce companies are now offering the best rewards system possible. They partner with other brands from other industries so customers can claim these rewards from buying their products or availing their services. For example, clothing brands partner with restaurants so you can get a discounted meal by buying clothes from them.
This is a mechanism that attracts more customers who want value for their money. Brand partnerships and collaborations are also great ways to increase brand awareness and promote your business. Thus, increasing sales and profits in the long run.
6. Shopping Assistants
Nowadays, even grocery shopping is done online. Thus, more companies are hiring shopping assistants who can personally shop for customers.
They shop for people who can’t go out of their homes. They also make sure to check every item on your list and pick the freshest goods for you.
7. Cashback
Cashback rewards allow you to earn back a portion of what you bought. For example, 5% in cash is returned to you when you buy a product worth $100.
This incentive system was first used by credit card companies to attract customers. Big online companies then modified this and used it to increase sales.
Now, the cashback reward system is one of the most effective ways of attracting customers. This is because it’s naturally inviting to shop and be rewarded with cash.
8. Sustainable Shopping
More consumers are being environmentally and socially conscious about their choices. Sustainable shopping means preferring products that are less harmful to the environment. It also means just buying what you need and avoiding overconsumption.
This is a trend that has been increasing in popularity over the past three to five years and is expected to gain more traction in the years to come. Thus, companies try to promote their products as sustainably as possible, on top of finding viable alternatives in packaging products.
9. Online Membership Shopping
The membership shopping concept originated in the United States. It’s a way of giving members better advantages through offering lower product prices and making shopping experiences convenient.
Lately, online stores are starting to offer membership shopping. They offer exclusive products, promotions, discounts, and additional perks available only to members. This scheme is being seen to become a popular trend online in the next few years.
10. Paying Through Cryptocurrency
Cryptocurrency is a digital payment system that enables anyone to send and receive payments anywhere. It’s called ‘the currency of the internet and it has been frequently used to trade online.
Cars, technology products, luxury items, and gaming accessories can be purchased through cryptocurrency payments. Aside from the dispensable items, necessities such as clothes, food, drinks, and other essentials can now be bought using it.
11. Small Businesses Promotion
The online market has been a good place to promote hand-made original products which big companies do not offer. Nowadays, people also tend to support small businesses rather than buying from large retail stores.
Thus, small independent businesses have been thriving online. Because of this, more individual entrepreneurs are also expected to offer more goods and services in the near future.
12. Viral Marketing
Viral marketing involves the overpromotion of a new product. It’s usually done by having someone famous promote the goods or services a business is offering. The end goal of viral marketing is hyping the product in a short span of time in order to increase its sales.
It also requires extensive online advertisements in order to increase engagement. This is done by increasing social media presence and using popular media apps.
13. Holding Contests Or Giveaways
Companies conduct online contests or giveaways to promote their products. The types of contests they do are made engrossing enough to attract the attention of many people. It creates hype across all social media platforms and it also promotes brand awareness.
14. Wholesaling
Online wholesaling has been trending lately. It’s defined as the act of selling goods in large quantities. Just like any other business, many wholesalers have also transitioned to selling their goods to retailers online. Usually, these are small items that are used on a daily basis and items that are easy to sell. Soap, shampoo, socks, kitchen rags, towels, and toothpaste are examples of this.
15. Influencer Marketing
Similar to viral marketing, the influencer marketing strategy uses the help of famous influencers to promote products. Companies collaborate with people whose social media following are large enough in order to make their products more popular.
The number of influencers has been rising since 2020 and they are still expected to double in the coming years. They have been a part of the online culture for the younger generation; thus, influencer marketing is a really effective tool in promoting your product. You just have to find someone whose image is suitable for the endorsement.
16. Dropshipping
Dropshipping is a new market mechanism that is largely connected to e-commerce businesses. It’s a mechanism where retailers don’t keep the stocks of their products. Instead, a third-party company keeps the stocks and collects orders for the seller.
This is convenient for entrepreneurs without storage spaces that need to make their business work. Subscribing to drop shipping services also makes business operations more efficient, thereby making logistics operations smoother.
It already takes care of collecting, storing, and shipping orders. Thus, you can focus on other business operations such as marketing, product development, and finance.
Shopping Trends
Online shopping is a safer and more convenient way to shop for what you need. It offers a lot of payment options and it allows you to get items you want with ease.
The e-commerce market also continues to evolve to suit customers’ needs. New trends are formed and more marketing strategies are employed by companies to attract buyers.
Just like in any other industry, trends in online shopping always change. They depend on what the customers prefer. Trends also depend on many factors like demand, technology, customer needs, and customer preferences.
The trends mentioned in this article are the mechanisms you can apply to your own business this year. As a shopper, these are also the methods you might want to use to make your shopping experience fun and convenient.