eCommerce has seen tremendous growth since the beginning of the pandemic. The onset of the pandemic has forced retailers and customers to shop online – be it essentials or luxury items. With the implementation of lockdowns worldwide, the availability and accessibility of day-to-day commodities became a next to impossible task. It was the online market that made the delivery of these essentials convenient. It’s not only B2C and D2C business models that have taken the road of e-retailing. Many B2B businesses have also found the digital commerce platform and eCommerce trends of 2023 productive and profitable. Analyzing the status quo, it is evident that B2B, D2C, and B2C eCommerce is here to stay and grow tremendously.
Online shopping trends have had its impact worldwide. The e-retail revenues are projected to grow to 6.3 trillion US dollars in 2023. It is also estimated that in 2023, eCommerce retail purchases might rise from 14.1% to 22%.
Here’re the top 10 eCommerce trends in 2023 that will impact the online retail business:
Trend #1: Augmented Reality (AR) commerce
Augmented Reality or AR, has changed customer product interactions. With AR, businesses can create interactive, life-size 3D models for different products. These realistic models allow customers to visualize how the products will look and fit in their homes and offices. Getting a virtual tour of the product gallery and interacting with the 3D product model is a novel experience. A shopping experience like this will certainly be unusual and endearing for the customers.
AR commerce is emerging as one of the major trends in eCommerce that can boost product sales, provide an enriching customer experience, increase repeat customer rates, reinforce customer satisfaction, and hike the average revenue per online shopper. The farfetched augmented reality is now an actual reality. It gives customers the pleasure of shopping for a product using a digital medium that is equally good as shopping in a retail outlet.