The eCommerce space is evolving at a rapid pace, and as such, there is bound to always be something new that the entire industry is following.
To help just about anyone stay in the loop surrounding the eCommerce space, we will be diving into the top 5 new trends that everyone needs to know for 2023.
Some of the biggest trends in eCommerce for 2023 include:
- Mobile Commerce
- Social Commerce
- Artificial Intelligence (AI) Usage in eCommerce
- Live Shopping
- Increased Support of Numerous Payment Methods in eCommerce
Why are eCommerce trends important?
The eCommerce space is one of the most competitive spaces online as real products and services are competing against one another for the number one spot in anyone’s wishlist. In other words, for any company that is creating these products and is also offering specific services, staying ahead of the competition is essential, and staying ahead means that they will need to consistently monitor and keep up with the latest trading.
No matter how huge or mature an eCommerce store is at the current point in time: if it does not manage to keep up with the latest eCommerce trends, it risks losing its position within the competitive marketplace and can fall in terms of user-base and orders as a result of this.
Keeping up with the latest trends is essential for future success, and as we look forward to 2023, it is essential for anyone to keep up with the latest trends and take advantage of them.
Top 5 important eCommerce trends for 2023 to follow
We will now be taking a look at each of the trends in-depth so that anyone can have a much higher level of understanding of what each one represents.
Mobile Commerce
Smartphones have managed to explore in terms of popularity, especially throughout the previous decade. Ever since the iPhone was first introduced and Android phones followed the trend, a huge portion of the population began using smartphones.
In fact, anyone today is far more likely to use a smartphone in order to conduct shopping rather than to visit a physical store or to use a desktop computer.
Furthermore, with digital currencies increasing in popularity and the vast support for cryptocurrency wallets on mobile devices, we will likely see cryptocurrency payments become a lot more supported on mobile devices.
Social Commerce
Numerous businesses have already begun boosting sales by selling their products directly through a variety of social media channels or other types of platforms.
Social media coverage is consistently improving, and due to the fact that a vast majority of people already use social media platforms, it is likely that they are the best location through which anyone can find the right product they are looking for.
However, providing a seamless checkout system is essential, and cryptocurrency payments can aid in this procedure due to their speed and convenience.
Artificial Intelligence (AI) usage in eCommerce
Artificial Intelligence (AI) has already impacted the eCommerce space in a tremendous way, and it allows businesses to offer better customer experiences and, as a result, create a lot more creative solutions.
AI will likely, in the future, offer a lot more potential when it comes to helping eCommerce businesses conduct their daily operations, after which they will become a lot more efficient in their operations. Additionally, AI has a large correlation to the Web3 space, a space in which cryptocurrencies are a dominant form of payment.
Live Shopping
Live shopping is another trend that numerous eCommerce platforms will likely implement throughout 2023 and beyond. This is essentially a point in time when retailers can present their products through the usage of a live stream, typically hosted on top of a social media platform.
An approach such as this allows customers to ask questions, get responses, and make real-time purchases, which can be enabled with cryptocurrency payments.
Increased support of numerous payment methods in eCommerce
For years, eCommerce platforms have supported similar payment options.
However, it is likely that with the rapid growth of Web3 solutions and platforms, we will likely see support for a wide range of cryptocurrencies and cryptocurrency wallets get implemented across a majority of the eCommerce platforms in 2023 and beyond.
Why you should accept crypto payments with NOWPayments
NOWPayments is a crypto payment gateway and crypto payment provider, that can enable any eCommerce business to stay in the loop and follow all of the latest trends throughout 2023 and beyond.
The service stands out due to the fact that it is a non-custodial cryptocurrency payment gateway, and this means that the cryptocurrencies go directly into the crypto wallets users have. Additionally, the integration is free, and the fees are low, with support for over 150 different cryptocurrencies, all of which will be available for crypto payment processing and will enable crypto eCommerce.
How to Accept Crypto Payments
NOWPayments as a cryptocurrency payment provider, will allow anyone to utilize its services and implement a cryptocurrency payment solution in their eCommerce business. We will be going over how this implementation works step-by-step.
- Create a NOWPayments account by visiting the official NOWPayments website.
- Next, businesses will need to add the wallet address that they will be using for the service. Future payments will be made to this wallet.
- Next, they need to generate an API key. This key is fully unique and can get embedded onto any page. These APIs will also need to feature the payment method that will be sent or received by them.
- Then, NOWPayments get implemented into any website with a plugin or through the API directly. The simplest way for its implementation is to use a plugin. Find all of the available plugins here.
- Now, all that’s left for the eCommerce business to do is begin accepting cryptocurrencies. NOWPayments supports over 150 cryptocurrencies!
Conclusion
We have gone over the top 5 predictions when it comes to the trends eCommerce will likely implement in 2023 and beyond.
All of these predictions are made based on how the business models are evolving and how audiences are beginning to view and buy products or services online.
Through NOWPayments, the payment gateway for cryptocurrency, companies can begin utilizing the power of cryptocurrency eCommerce.