E-commerce trends to expect in 2023
As the year comes to a close, merchants doing E-commerce in the Philippines must remain on the lookout for what’s next. From ways to innovate operations to new offerings, there’s always merit in learning about top E-commerce trends, especially for 2023.
The fast-paced development of technology has opened up a lot of opportunities for businesses online. Now is every merchant’s chance to become an early adapter with this list of E-commerce trends in 2023.
The rise of video shopping
Photos will remain an essential part of the online shopping experience, but among the top E-commerce trends for 2023 is the use of videos. While Filipinos have learned and adapted to live selling, merchants can’t always host them. Video shopping is another way of showcasing products in detail. It offers a 360-view and a demonstration of how they work – similar to how TV shopping is done, only it’s on mobile and on social media.
More variety in payment options
Cash-on-Delivery has become an increasingly effective payment option for those doing E-commerce in the Philippines. As the financial landscape changes, many platforms are starting to offer other options including a Buy-Now-Pay-Later scheme, and even loans. These allow customers to purchase products and settle payments at a much later time, providing more flexibility.
Chatbots for 24/7 service
The world of E-commerce in the Philippines is becoming smaller and more on-demand. In reality, merchants can’t always be present or online to respond to inquiries. Thus, among the E-commerce trends expected in 2023 is the growth of chatbot integration. It offers a seamless shopping experience through automated responses, helping provide 24/7 service and allowing merchants to step in during more crucial or important concerns.
Over the years, the function of chatbots has evolved. Chatbots today are no longer simply offering automated responses. They’ve become the online personas of brands, complete with names and avatars, and can provide more complex answers to queries. In 2023, chatbots are forecasted to be capable of automating payments, streamlining operations, providing consumer insights, and many more tasks.
Greener and more sustainable packaging
The growth of E-commerce has also seen the spike in use of plastic, which poses potential threats to the environment. With society becoming more self-aware, many businesses are shifting to greener and more sustainable options in place of bubble wraps, packaging tapes, and other single-use plastics. Widespread use of these packing alternatives will also be one of the main E-commerce trends in 2023.
Growth of voice shopping
As the world becomes smarter and more digitally connected, different parts of the world saw an increase in the purchase of smart speakers. One of the more interesting E-commerce trends in 2023 is the growth of voice shopping through these devices. Merchants are encouraged to explore this trend to also cater to consumers who prefer this shopping method.
Increased digital presence through omni-channel selling
Nowadays, it may no longer be enough for a merchant to focus on one channel or platform alone. E-commerce in the Philippines is becoming more competitive as many learn the convenience and opportunities it offers. That said, one of the top E-commerce trends next year is omnichannel selling. This means having a multi-channel presence to cater to more audiences on online marketplaces, social media, your website, and other platforms.
These E-commerce trends in 2023 can serve as a guide for merchants that want to try something new for their shop. These can help offer a new shopping experience for customers, while also maintaining competitiveness in the digital marketplace. But what would be most effective is partnering with an E-commerce enabler like Payo!
Payo is a leading E-commerce enabler in the Philippines that offers solutions to help merchants adapt to the ever-evolving E-commerce landscape. Among these services are Live Customer Support, Marketplace Optimization, Warehousing, Fulfillment, and Cash-on-Delivery Integration, which enable merchants to immediately embrace some of the aforementioned trends.
Want to leverage these top E-commerce trends to elevate your business? Sign up with Payo today or send us a message at [email protected]. Let’s welcome 2023 with an effective E-commerce strategy!