When you’re up to date with the current trends in the e-commerce market, the field of online commerce immediately becomes a goldmine for business. In particular, the volume of the global E-commerce market has long surpassed the $5 trillion mark, making it comparable to the GDP figures of some developed countries.
For a successful launch, it’s necessary to develop an effective marketing strategy, which includes the use of various channels and platforms to attract the attention of the target audience. Let’s take a closer look at the trends in E-commerce and occupy a suitable niche in it.
Leaders in E-commerce
E-commerce advertising is a great springboard for the development of both web stores and international online platforms. On the one hand online stores offer convenient search and sales with delivery, on the other hand the consumer gets access to a global market. By 2023, E-com has outlined its leaders:
1. China. Country stands out as a powerhouse in the E-commerce industry, with online commerce accounting for over 10% of the total retail market. The country’s digital economy is driving modernization, and China’s E-commerce sector boasts the largest scale of development. Key players in the market include JD.com, Pinduoduo, Douyin, and AliExpress.
2. UK. It’s one of the largest players in the market and has e-commerce penetration rates of around 80% or higher. The leading online stores in the region are Shopify, EKM and Magento.
3. USA. The size of the U.S. e-commerce market will surpass the $1 trillion mark in 2023. Today, already 65% of B2B companies in the U.S. have transacted online and 35% have invested in building E-com platforms. 45% of all e-commerce accounts for sales through mobile apps, and Walmart, Shopify, Amazon, and eBay remain the leaders in the region.
Moving away from hard reality and engaging with technology
5 trends in E-com 2023
No more waiting in line at the checkout or hiding from the suggestions of a sales assistant when buying products. To transform the real-life experience into a digital one, certain brands are enhancing the shopping process with personalized elements, such as interactive surveys, mobile app advertisements, and 3D product catalogs featuring custom layouts.
2. Immersive Branding
This is a special approach to branding that captures the attention of potential customers. Typically, a new concept with VR and AR technology is applied to key products and limited edition collections. Many advertisers use the strategy of “scarcity” of the product, which makes the brand more desirable.
The aim of an immersive brand is to launch limited edition products that are sure to evoke FOMO (fear of missing out) in the audience. A good example is the virtual shoe builder on Nike’s website.
3. Animated Product Demonstration
Today, having multiple digital communication channels is not enough. Users appreciate more companies that entertain them and evoke emotions. Customers will definitely be hooked by an animated scrolling on Cricut‘s website or a 3D design from Whiteboard, Awwwards. Advertisements should inform customers in a playful and innovative way that will be hard to look away from.
In 2023, a blended, multi-channel sales approach will be seen among B2B companies and retailers. Choosing more than two sales sources greatly expands audience reach and improves customer experience. Omnichannel selling also paints a portrait of the customer, collects data across multiple channels, and allows a brand to better understand its audience.
Another trend in E-com advertising is live-streaming. It helps to sell services and goods directly from social networks: Facebook, Instagram, TikTok and others. When you review a product, you can discuss its details and answer related questions online. Engaging a micro-influencer from the right E-com category will only multiply the number of sales.
Expectations are reality
A new era of E-commerce has arrived, with 72% of audiences favoring video over text when buying a new product. There is also a shift in online commerce to social commerce. Going forward, it’s worth turning more often to native advertising that fits seamlessly into social media channels.
The AdSkill team will help you realize your plans and create an effective promotion strategy in the e-Commerce niche. Want to stay up to date with our new articles and publications and not miss the latest trends in marketing? We’re happy to share our experience and cool case studies, once again confirming the power of the online sales industry.
