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In the post-COVID world, the trend of online shopping is at its peak, with whopping ecommerce sales growth. Thus to stay competitive and successful in the business world, companies need to understand the unique needs of their customers and keep track of the latest ecommerce trends.
If you want insights into the latest ecommerce tech trends for 2023, we are here to help. Read along as we unravel the technological marvels that can redefine the ecommerce industry in 2023 and beyond.
1. Social commerce
Over the last few years, social media platforms have emerged as one of the most powerful marketing tools. From being designed as communication platforms, functioning as business opportunity providers, helping companies to market products, engage customers online and provide real-time customer support, social commerce has come a long way. It has been estimated that more than 100 million Americans indulge in online shopping through social media platforms, with Facebook marketplace being a top choice. Thus the ability to find the required products on their favorite social network, with a unique shopping experience, this online retail is surely one of the biggest eCommerce tech trends for 2023.
Related: What Brands Need to Know About Social Commerce
2. Buy Now Pay Later (BNPL)
Buy Now Pay Later is a unique tech trend that is a hyped ecommerce tech trend for 2023. The BNPL service allows customers to purchase the required goods with easy and interest-free installments, making high-value products more accessible and affordable. They no longer require traditional credit cards or to pay upfront payments. With just a few clicks, customers can opt for the BNPL option at the checkout and proceed with their transactions.
This service gained massive traction during the COVID-19 pandemic as people wanted flexible and alternative funding sources, and BNPL was an ideal option. Nowadays, most ecommerce has integrated the BNPL service and streamlined the checkout processes, providing a user-friendly and financially empowering solution for consumers.
Related: The Future of Online Shopping Is ‘Buy Now, Pay Later’
3. AI-powered personalization
With 2023 rolling out, artificial intelligence has surfaced as one of the most popular ecommerce tech trends. In times when everything is available to everyone online and online presence has become an everyday norm, consumers do not want to be treated like a coded entry on the Excel sheet of clients.
They want to enjoy a more personalized experience with the brands they are willing to invest in. Thanks to the rapid technological advancement in digital marketing, AI has provided multiple digitally powered solutions. AI-powered chatbots and AI voice assistants are one of the most popular ones. An AI Chatbot can keep your customers engaged throughout the journey, from providing a personalized greeting message to assisting with all intersecting ends.
They can analyze larger chunks of customer data and predict buying habits, which can help provide relevant information to the clients and keep them meaningfully engaged with the brand. On the other hand, an AI power voice assistant responds to the consumer’s verbal commands and provides them with the most relevant results.
4. Livestream commerce
You can say that livestream commerce is the modern and much more user-friendly version of the old TV shopping channels that used to go on air. This is an online platform where the host shows different goods to the consumers in real-time. While it is a relatively new trend in the USA, picking up pace in 2023, it has already made its mark in countries like China and India. Streaming allows companies to show their product in all dynamics, respond to real-time customer requests and engage with their feedback instantly. Thus with the customer attention span dropping each year, livestream commerce is a prominent trend to invest in in 2023.
Related: 3 Ecommerce Trends You Need to Know in 2023
5. Progressive web
Progressive Web is an innovative technology that allows businesses to develop a type of web application that operates on modern web technology to offer customers an app-like experience. These web applications are designed to be responsive and engaging, providing an immersive buying experience similar to native mobile apps. Modern users want websites that load quickly, operate on any platform (i.e., Android, iOS, etc.) and can adapt to different sizes.
6. Supply chain optimization
Supply chain optimization is a process that ensures maximum efficiency in the flow of goods, services and information from their point of production to the point of consumption. It streamlines all the critical processes involved, including sourcing, production, transportation and distribution.
In the modern digital world, companies optimize their supply chain by using innovative AI technology, which helps them predict the demand, generate a desired inventory, build an efficient network design and pre-analyze distribution inefficiencies.
While the ecommerce field is experiencing a boom, as more and more people prefer online convenient shopping, this has also pushed companies to put forward their front foot and cope with the emerging eCommerce tech trends. With the correct tools and innovations, businesses can capitalize on new opportunities, revolutionize customer experiences and stand out in a crowded digital retail space.
This story originally appeared on Entrepreneur
