What Shape will eCommerce Take in 2023: In Conversation with Dylan Connor
In 2023, more than 265 million consumers in the USA are expected to be shopping online. That means 2023 will be a year full of opportunities for eCommerce retailers and budding entrepreneurs who are planning to launch their own ventures in this thriving industry.
But we all know that competition is immense and only businesses that create a difference with their offerings will win. Let’s talk to today’s experts and find out what can be done to win in the eCommerce industry in 2023.
So, let’s get started.
Who did we interview?
Dylan Connor is the Partnerships Coordinator at Findr, the marketplace for business partnerships. He is also an eCommerce enthusiast who keeps studying new trends and technologies in the online world.
Q1: What exciting projects are you working on at present?
As a partnership Coordinator at Findr, I am currently working on some really exciting projects! One of the main things I am focusing on is speaking with different players in the eCommerce ecosystem, such as merchants and platforms, to educate them about the benefits of partnerships and how they can help drive growth for their businesses. I’m doing this by reaching out to these companies and explaining how Findr can help them kickstart their partnership journey by using our smart match technology to connect them with the right partners.
It’s always a pleasure to work with different businesses and share my knowledge with them on how they can benefit from partnerships. It’s a great feeling to see the aha moments on their faces and how they finally see the potential of growth they can achieve via partnership.
Q2: What do you think are the most important trends in eCommerce for 2023 to increase conversions and boost sales?
The trends in eCommerce for 2023 will be quite the game changer; I can tell you that much. Personalization is the key to boosting conversions and sales, you see. People want to feel like they are getting a tailored shopping experience, and providing them with targeted recommendations, customized marketing messages, and personalized product recommendations are the way to do it. Plus, utilizing Artificial Intelligence to implement chatbots and virtual assistants will provide a more efficient way of helping customers, giving them real-time support and suggestions.
Also, mobile optimization is a must as mobile devices dominate online shopping. So businesses better ensure their websites and apps are easy to use and provide a seamless mobile shopping experience. Also, social commerce is on the rise, so utilizing platforms like Instagram, Facebook, and TikTok to sell products directly to consumers is a smart move.
Lastly, the rise of subscription-based models is on the horizon, allowing businesses to create recurring revenue streams and predictable business models. So, to sum it up, Get ready for a personalized, tech-savvy, mobile-optimized, socially-charged, subscription-based, virtually-immersive, touchless, and sustainable shopping experience in 2023 because that’s where the eCommerce game is headed!
Q3: Customer Experience is at the heart of eCommerce. What should a good eCommerce customer experience journey look like, according to you? Is it all about digital touchpoints, or do physical interactions matter as well?
I can certainly tell you what a good eCommerce customer experience journey should look like!
A good eCommerce customer experience journey should start with a user-friendly website that makes it easy for customers to find what they’re looking for. Navigation should be clear and intuitive, and the overall design should be visually appealing. Once a customer finds a product they’re interested in, they should be able to learn more about it through high-quality product images and detailed product descriptions.
The checkout process should also be simple and seamless, with options for multiple payment methods and clear information about shipping and returns. Customers should feel confident that their personal and financial information is being handled securely.
After a purchase is made, the eCommerce business should keep the customer informed about the status of their order and provide tracking information so that they can keep tabs on when it will be delivered.
As for physical interactions, they’re not strictly necessary, but they can be a nice touch. For example, a personal thank-you note or small gift included with the purchase can help to make the customer feel appreciated and valued.
In short, a good eCommerce customer experience journey should be easy and secure and make the customer feel valued and appreciated. And If you could add a touch of humor to your website, that would be great.
Q4: What technologies, platforms, or channels should marketers or brands use to excel in the digital commerce world and turn their businesses into brands?
When turning a business into a brand in the digital commerce world, it’s important to use the right technologies, platforms, and channels. A solid website that is mobile-friendly, easy to navigate, and aesthetically pleasing is a must.
Platforms like BigCommerce and Shopware are great choices when building an eCommerce website. They offer all the tools and features you need to create an engaging online store.
Social media channels like Instagram, Facebook, and Twitter are essential for reaching new customers and engaging with existing ones. Additionally, optimizing your website for search engines (SEO) can help to increase visibility and drive more traffic. Using email marketing to promote new products, announce sales, and share valuable content can also be a powerful tool.
To stand out from the crowd, consider experimenting with newer technologies like augmented reality, chatbots, and voice assistants and leveraging live-stream shopping platforms. These platforms enable you to connect with customers in real-time and showcase your products dynamically and engagingly.
Hosting live streams allows you to demonstrate your products, answer customer questions, and build a sense of community around your brand. Platforms like Firework, Shopify Live, TikTok Live, Instagram Live, Facebook Live, and many others allow you to host live-stream shopping sessions. It’s worth exploring the features and opportunities they offer to suit your business.
Q5: What potential do you see for the eCommerce industry as a whole? And which industry verticals would take the biggest piece of the pie after the surge in eCommerce sales due to the pandemic?
The eCommerce industry is on a roll and showing no signs of slowing down. It’s like a rocket taking off into space with each passing day. The COVID-19 pandemic has just given it a little extra “boost” to reach new heights, like a well-timed “rocket fuel,” if you will.
Many consumers are now used to the convenience and safety of shopping online. It’s like the genie’s lamp of retail, granting wishes for home delivery and hassle-free returns.
As for which industry verticals will take the biggest piece of the pie after the surge in eCommerce sales due to the pandemic, it’s tough to predict. Although some industries, such as grocery delivery and home goods, have been the “chosen ones” during the pandemic, it’s still a mystery who will end up on top in the long run.
It’s worth mentioning more and more businesses that never had an online presence, like mom-and-pop shops, are now opening their own e-stores, like “hidden dragons and crouching tigers” in the eCommerce world, ready to make a name for themselves.
The eCommerce industry is like a “wild west” of retail, with boundless opportunities and a lot of growth potential. It will be exciting to see where this journey will take us.
Q6: Any specific tips that you would like to provide for brand owners, marketers, and others juggling to scale an eCommerce business?
To scale an eCommerce business in 2023, consider the following key areas: Invest in customer acquisition, optimize for mobile, improve product content, focus on personalization, offer fast, free shipping, diversify sales channels, implement automation and tools to streamline, invest in logistics and last-mile delivery, and analyze your data and optimize regularly.
Additionally, partnerships are key for growth in 2023. By forming strategic partnerships, you can reach new customers, access new technologies and distribution channels, and gain access to valuable industry expertise and resources. So, look for opportunities to collaborate with complementary businesses, and be open to exploring new ideas and possibilities.
So, that was all about today’s session. We thank Dylan Connor for talking to us and sharing essential insights about the industry. We hope you find this session insightful! For critical discussions and insights, subscribe to our content and stay updated with what’s new in eCommerce and Magento.