E-Commerce Trends Report

eCommerce is an ever-changing industry – every year, several new trends come up that can help your business grow and compete with your competitors – 2023 is going to be no different. As the pandemic slows down, we are likely to see the penetration of eCommerce also slow down compared to 2020 – however, many eCommerce businesses will be moving into 2023 with a goal of realising high, fast growth.

When it started, e-commerce was fairly limited in its capabilities. But not anymore. Whether it’s customisation, enhanced return policies, or improved integration, all of these changes (among countless others) have taken the world of e-commerce by storm.

Consumers simply aren’t comparing apples with apples anymore. Big brands like Amazon have set the standards for shipping, speed, user-friendliness, and variety that consumers expect every e-commerce experience to emulate. Modern consumers want free returns and shipping, a variety of payment methods, intuitive and responsive websites, and excellent customer service at all times. It’s hard to maintain and create the customer experience they want, especially for start-ups.

Some trends never fade, and one of them is positive customer experience. The most successful companies have come to realise that customer service is not something that comes and goes but something that should be an inherent part of their culture. Eighty-four percent of individuals state that the experience provided by a company is just as critical to them as the product they've purchased from that company. If a company wants to survive and thrive, its customers should feel valued and appreciated throughout the relationship.

As more and more B2B companies cross the digital threshold, the need for fast and efficient fulfilment processes has become increasingly urgent. In a post-Amazon world, millennials are driving this demand with 73% of them involved in the B2B buying process today.

The popularity stems from the ease and comfort that online shopping offers, prompting more and more people to cut down on centre visits and purchase online instead. Besides, consumer trust in online purchasing has increased, further boosting online sales. One can confirm this growth simply by looking at current e-commerce statistics.

So, what are the top trends in e-commerce? To give you a better picture of what’s happening on the ground, we have gathered some of the most notable e-commerce trends that best describe the future of online selling. After you’re done with this reading, you should be able to use the insights provided to better manage or build your own online store.

You can download the full trends report here.