To strengthen your company’s capabilities, take note of the key e-commerce trends for 2023.
E-commerce continues to grow in Portugal and worldwide. M-commerce, in particular, is more popular in Southern and Eastern European countries than in Northern and Scandinavian countries.
The strongest shopping days of the year are approaching. Want to prepare for the best Black Friday and Cyber Monday ever? Stay updated with the latest news on the Smart Blog!
With life returning to normal, people are once again commuting between home, work, school, and other locations. In these daily movements, the mobile phone has become an indispensable tool for researching goods and services. And if people are searching, why not complete the transaction and buy? Downloading information on mobile devices is now faster and safer.
Additionally, brands can take advantage of GPS-based technologies to promote their products or services to people passing through a specific area.
M-commerce still faces several challenges in terms of accessibility, design, and security, but it is undoubtedly a support platform worth considering for online businesses.
According to Tech Target, the main m-commerce activities occur in the following areas:
A virtual digital assistant (VDA) – such as Google Assistant, Apple’s Siri, or Amazon’s Alexa – helps consumers search and purchase any online product.
In this sense, voice commerce is more convenient, inclusive, and advanced than traditional e-commerce.
It is convenient because voice search can be done anywhere: via VDA, smartphone, call center, or apps. It is inclusive because, being voice-based, it allows people unfamiliar with technology or with visual impairments to access searches more easily.
Statista collected data on the global value of purchases made through VDAs and estimated that from $4.6 billion in 2021, it could reach $19.4 billion in 2023.
Globally, the use of smart speakers increased by 69% during the pandemic. The Middle East recorded the highest growth (73%), followed by North America (72%) and Europe (64%).
The Hootsuite Blog explains what Social Commerce is and how it can be used to boost sales.
The Social Shopping trend has been growing since 2019, providing an easy, accessible, and convenient shopping experience for users. People want to buy an item the moment they discover it on the social media platform they are using at the time. Transactions are completed without leaving the app.
According to Statista, social commerce generated around $724 billion worldwide in 2022. The estimate is that it will grow by more than 30% between 2022 and 2030.
Another 2022 report from GlobalWebIndex (GWI) shows that about 27% of young people use social media to find and buy products. Additionally, 26% follow updates and content from their favorite brands. This presents an opportunity to personalize messages more naturally and organically with the help of influencers.
Brands are obviously taking advantage of this online shopping trend to showcase their offerings on social media. This is a business area with immense potential and should be part of a company’s marketing strategy.
However, it’s important to know how to adapt to each of the main platforms: Instagram, Pinterest, Facebook, and TikTok.
Recently, TikTok revealed its investment in creating “an international e-commerce system,” including a network of international warehouses for logistics and customs clearance while also posting job openings on LinkedIn.
Automation includes actions such as marketing and sales, contactless payment operations (such as Apple Pay, PayPal One Touch, and Visa Checkout), workflow organization, and system integration for sending emails, processing refunds, installing bots, etc.
E-commerce apps have simplified the process. As businesses grow, they can start with basic modules and add or remove features like machine learning, virtual or augmented reality, advanced search, voice assistant, wish lists, product comparison, or shopping carts – all without requiring employees.
For example, customers could create avatars to visit virtual stores on digital streets and make purchases.
PWAs allow companies to update their website’s information, functionalities, and layout without affecting the mobile app. They load instantly, respond quickly, and enhance user engagement.
Push notifications demonstrate PWAs’ effectiveness as a marketing tool compared to traditional methods like email. Appearing directly on the consumer’s smartphone, notifications lead users to a specific offer in the mobile app, encouraging immediate action.
Some brands have reported a 150% increase in active mobile users since adopting PWAs. We are confident that more companies will follow this path in 2023.
FAQ
What is m-commerce?
M-commerce refers to commercial transactions conducted via mobile devices (smartphones and tablets).
When is Black Friday and Cyber Monday?
Black Friday traditionally takes place on the last Friday of November, right after Thanksgiving, taking advantage of holiday shopping demand to clear out store inventories. In recent years, the event has extended through the following Monday, with Cyber Monday highlighting online shopping promotions.
What are the best social media platforms for e-commerce?
Instagram, Pinterest, Facebook, and TikTok are the strongest social media platforms in the social commerce segment, also known as social shopping.
What is VDA?
VDA stands for Virtual Digital Assistant, which helps consumers search for and purchase any product online. Examples include Google Assistant, Apple’s Siri, and Amazon’s Alexa.
What is Web 3.0?
Web 3.0 is the concept of a new and improved internet. It is understood as the third generation of technological evolution, incorporating concepts such as decentralization, openness, and increased consumer utility.
What are the main automation processes in e-commerce?
Automation includes, for example, contactless payment operations (such as Apple Pay, PayPal One Touch, and Visa Checkout), workflow organization, system integration, chatbot installation, automated email sequences for customer support, upselling, and cross-selling.
