3 Big E-Commerce Trends to Watch Out for in 2023

The onset of the global pandemic increased e-commerce sales dramatically. With restrictions easing, people have returned to physical stores in droves and this has impacted online shopping activity for 2022; however, it by no means signals an end to growth within the sector as a whole. Here are three major developments that could shape e-commerce over 2023:

Tiktok Shop

Tiktok is taking the world by storm and Tiktok Shop is predicted to be one of the biggest opportunities in e-commerce in 2023. Tiktok has created an engaging, interactive platform that offers users so much more than just scrolling through videos and enjoying content. Tiktok Shop will provide businesses with an opportunity to expand their reach and broaden their sales potential. Tiktok provides detailed analytics that allows businesses to better understand user behaviors, see what types of products are being purchased, and target a variety of new audiences. To stay competitive, businesses need to recognize the power of Tiktok Shop and begin investing in it as soon as possible in order to maximize this incredible e-commerce opportunity.

Conversational Commerce

With conversations being a central part of social interactions all over the world, it’s no surprise that conversational commerce is becoming a mainstay in e-commerce in 2023 and beyond. Facebook Messenger has been at the forefront of this movement and enables customers to buy products by simply chatting with real people, giving them peace of mind when purchasing items online. This trend resonates especially well with Filipino consumers who find comfort in speaking to another person before making their purchase. Along with being conversational, there are many other benefits to buying through Facebook Messenger including faster and more secure payments as well as attractive discounts on products. Definitely something to keep an eye out for over the next few years!

Marketplaces Growth

Following the immense success of e-commerce marketplaces such as Shopee and Lazada, we are likely to see an even greater expansion in 2023. Consumers in Southeast Asia – the region pioneers in mobile trial and Facebook Messenger purchasing – will continue to be drawn towards such platforms due to the sheer convenience of buying almost anything at one centralized location. While both sites have become known for selling items in fashion and personal care categories, there is sure to also be a considerable rise in other products such as groceries being sold via these shops. Facebook integration with e-commerce platforms makes it even easier for users to purchase what they need without any big fuss. This could easily mean further growth for Shopee and Lazada in the coming year.