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Expansion of E-Commerce and social marketing in digital era

Key E-commerce Trends for Local Retailers

 

In the wake of remarkable growth over the past two years, local online retailers are entering 2023 with great anticipation. Even as some shoppers gradually return to physical stores, the e-commerce realm remains robust, with global online retail sales projected to surge from 5 trillion US dollars to a staggering 8 trillion dollars by 2026. To capitalize on these promising opportunities, small businesses must not only stay attuned to shifting customer expectations but also embrace the e-commerce trends that have emerged during the pandemic. In this article, we’ll delve into the critical trends that will shape e-commerce success in 2023.

With global online retail sales projected to surge from 5 trillion US dollars to a staggering 8 trillion dollars by 2026.

Mobile Commerce – Seamless mobile experiences grow larger

In the digital age, the phrase “Mobile is king” has never been truer. As our devices become increasingly compact, our expectations for seamless mobile experiences grow larger. Today, consumers across generations, from Gen Z to Generation Alpha, carry mobile phones that serve as not just communication tools but indispensable shopping companions. The statistics underscore this shift, with mobile devices driving a staggering 71% of retail traffic and accounting for 61% of online orders, as reported by Statista.

Looking ahead, the trajectory is clear: global mobile retail sales are poised to reach nearly $4.5 trillion by 2024, constituting almost 70% of all e-commerce sales. To thrive in this mobile-centric landscape, businesses must prioritize mobile-friendly experiences from the outset, crafting interfaces tailored for mobile users rather than merely scaled-down versions of their websites. Additionally, ensuring a smooth and hassle-free mobile checkout process is paramount to retaining and converting customers.

Global mobile retail sales are poised to reach nearly 
$4.5 trillion by 2024

The Social Commerce Revolution

Social commerce has emerged as a game-changer in the world of e-commerce, reshaping the way businesses promote and connect with consumers. Brands are flocking to social media platforms to engage with customers where they naturally congregate. People increasingly turn to their social feeds not only for entertainment but also for shopping, recommendations, and swift purchases. Surprisingly, 48% of consumers now express a willingness to make direct purchases from platforms like TikTok, emphasizing the role of social media in driving sales.

Particularly noteworthy is the dominance of Gen Z on TikTok for product searches and suggestions, surpassing even Google in relevance. In 2022, global sales through social media amounted to a staggering 992 billion U.S. dollars, and experts predict that by 2026, social commerce sales will soar to an astonishing 2.9 trillion U.S. dollars. To capitalize on this trend, businesses can employ various strategies, including encouraging user-generated content to build trust, utilizing features like Instagram Shopping and Facebook Shops for shoppable posts, and creating limited-time offers on social media to generate a sense of urgency. Even if not selling directly on these platforms, their importance for reaching and engaging your audience cannot be overstated.

In 2022, global sales through social media amounted to a staggering 992 billion U.S. dollars, and experts predict that by 2026, social commerce sales will soar to an astonishing 2.9 trillion U.S

Predicted Expansion of social commerce sales from 2022-26
Predicted Expansion of Social Commerce Sales (Statisitica)

Subscription Commerce is rapidly gaining traction

In a bid to secure long-lasting customer relationships and sustainable revenue streams, subscription commerce is rapidly gaining traction. Acquiring new customers can be an arduous and costly endeavor, making the establishment of enduring connections all the more critical. The appeal of subscription commerce lies in its simplicity and convenience, especially for products used regularly.

An astounding 35% of online shoppers already use subscriptions regularly, and this figure is poised for further growth. The key to success in this realm lies in strategic product selection, choosing items with a potential loyal customer base. Offering tiered subscription plans to cater to various customer needs, such as basic, standard, and premium tiers with varying benefits, can be an effective strategy. Additionally, allowing subscribers to personalize their subscriptions by selecting product preferences, sizes, or delivery frequencies enhances the appeal of subscription services.

Call to Action

To navigate the dynamic e-commerce landscape of 2023 successfully, local online retailers must take strategic actions with a strong focus on SEO (Search Engine Optimization). Here is a concise SEO-driven roadmap to secure your business’s success:

1. Prioritize Mobile Optimization for SEO: Implement responsive web design and ensure that your mobile site is optimized for SEO. Not only do smooth and hassle-free mobile experiences enhance user-friendliness, but they also lead to higher rankings in search engine results pages (SERPs).

2. Leverage SEO in Social Commerce: Recognize that social media platforms are not solely for socializing but powerful tools for SEO-driven marketing and sales. Encourage user-generated content that includes relevant keywords, and create shoppable posts to bolster your SEO visibility. The engagement generated on social media can positively impact your website’s SEO.

3. SEO-Centric Subscription Commerce: When venturing into subscription-based services, remember that an SEO-friendly product selection is pivotal. Choose products with attributes that align with search-friendly keywords. Optimize your subscription pages for search engines to attract organic traffic to your subscription offerings.

4. Continuous SEO Monitoring and Adaptation: Stay informed about the latest SEO best practices and industry trends, as SEO trends and algorithms evolve regularly. Regularly audit your website’s SEO performance, adapt your strategies, and ensure alignment with evolving consumer behaviors. Engage in keyword research to target trending search terms.

Take strategic actions with a strong focus on SEO 
(Search Engine Optimization)

Final Thoughts…

In the ever-evolving landscape of e-commerce in 2023, local online retailers face a pivotal moment. The trends shaping this year’s e-commerce environment demand a deep understanding and strategic approach to ensure continued growth and success.

First and foremost, mobile commerce has firmly established itself as the driving force in online retail. With mobile devices now accounting for the majority of retail traffic and online orders, businesses must prioritize mobile optimization. This means more than just responsive web design; it entails creating seamless, user-friendly mobile experiences and efficient checkout processes. Neglecting mobile can lead to missed opportunities and decreased competitiveness in the market.

Secondly, the rise of social commerce cannot be underestimated. Social media platforms have become powerful sales channels, with consumers increasingly relying on them for product discovery, recommendations, and purchases. Leveraging this trend requires active engagement with social commerce strategies like user-generated content and shoppable posts. Ignoring these platforms could mean missing out on a substantial share of the market, as social commerce is expected to generate billions in sales in 2023.

Thirdly, subscription commerce offers a strategic advantage for local online retailers. It provides a means to establish lasting customer relationships and ensure consistent revenue streams. By selecting products or services that resonate with a loyal customer base and offering customization and tiered subscription plans, businesses can tap into the growing demand for subscription-based shopping.

Finally, an unwavering focus on SEO remains critical in 2023. It underpins success in all the aforementioned trends. Mobile optimization enhances SEO ranking, while social commerce efforts contribute to improved visibility in search results. Additionally, optimizing subscription pages for search engines can attract organic traffic. Continuous monitoring and adaptation to the ever-changing SEO landscape are essential to maintain a competitive edge.

In conclusion, local online retailers in 2023 should view these trends not as isolated strategies but as interconnected components of a comprehensive e-commerce approach. Embracing mobile optimization, social commerce, subscription models, and SEO-centric strategies will position businesses to not only survive but thrive in this dynamic landscape, ensuring sustained growth and customer loyalty in the years to come.

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Expansion of E-Commerce and social marketing in digital era

Key E-commerce Trends for Local Retailers

We’ll explore essential e-commerce trends that can help online retailers succeed. We’ll discuss the significance of mobile commerce, the impact of social commerce, the benefits of subscription models, and the importance of SEO in navigating the evolving e-commerce landscape.

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