An Expert’s Guide to What’s Trending in Magento eCommerce in 2023
When it comes to Magento eCommerce trends, we like to think that we know a thing or two. After all, our team has been working in the industry since its inception.
In fact, if you take a look at our e-commerce predictions for 2022, many of them are still very relevant today. That’s why, without further ado, let’s take a look at what we believe will be trending in Magento e-commerce in 2023!
- eCommerce trends in 2023.
- Magento UX improvements boosting sales.
- Magento technology for eCommerce support.
eCommerce online store trends in 2023
The most important trends we observe in the eCommerce industry nowadays that influence the future significantly are:
- Mutuality and authenticity of customer communication,
- Business sustainability,
- Subscription business model,
- BOPIS – Buy Online Pick up In Store.
Authentic brands as eCommerce platforms will continue to grow in popularity as consumers become more interested in supporting companies that align with their values and listen to the customers’ feedback.
Sustainability will also remain a key concern for many shoppers, who are looking to reduce their environmental impact. Subscription models will become more common as customers seek convenience and value in eCommerce stores.
And finally, Buy Online Pick up In Store (BOPIS) will continue to grow in popularity as shoppers seek a seamless omnichannel experience.
Authentic brands are followed by customers
Authentic brands are those that are true to themselves and the values they openly express. They are not afraid of the customers’ feedback, and they are always authentic in their interactions with customers and followers.
Digital native brands have a deep understanding of the digital world and how to use it to their advantage. They use social media to connect with their customers and followers in a way that is genuine and authentic. Influencers are also important to these brands, as they help to spread the word about the brand in a way that is positive and trustworthy.
Influencer commerce, a relatively new but quickly growing marketing concept, is revolutionizing the way people shop. Influencer commerce involves businesses hiring influencers, who have a large and engaged following on platforms like Instagram and YouTube, to advertise their products.
Influencers use their platform to share content that can range from sponsored posts to ‘unboxing’ videos, generating an organic interest in products among their followers.
This influencer marketing strategy helps brands reach audiences who are already interested in what eCommerce sites have to offer in an engaging format, driving sales and furthering the business’s presence while allowing influencers to be paid for promoting companies they truly believe in.
It is characteristic that nano and micro-influencers are much more effective than celebrities as their engagement rate is around 5%. It also proves customers seek authentic relations with online business rather than an advertisement.
UGC for trust building
User-generated content is another key part of making a brand authentic. Customer content helps to show that the brand is approachable and responsive to its customers. It also helps to build trust between the brand and its audience.
By embracing UGC, businesses are able to create a more personal relationship, as user-generated content creates a strong sense of trust and credibility for both the consumer and the brand.
Consumers feel more connected to the product having seen it from another consumer’s perspective, plus UGC allows brands to showcase a variety of use cases that have been captured by customers themselves. UGC is a great way for brands to generate engagement with their audience through social media platforms and create an authentic bond with them.
UGC (User Generated Content) tools
Panda Group has created a great tool for the fashion, beauty, and lifestyle industries. The Moodboard tool allows for creating product presentations before the purchase to check if they fit together.
It is not only for the creation and decision-making process, but also for sharing purposes. Users are allowed to present and share their outcomes as well as download the files.
Sustainable eCommerce responds to sensitive customers
Clients are more and more environmentally aware, which is noticed by eCommerce merchants. Sustainable eCommerce has become a major focus for businesses looking to reduce their environmental impact.
Sustainable eCommerce practices
Customers can help to conserve energy, prevent the overuse of resources by reducing the amount of packaging needed, and increase waste reduction.
Sustainable eCommerce also helps companies to stay ahead of the curve by implementing green practices that can result in cost savings down the road due to reduced waste disposal costs.
Reselling practices and reusable products
Many brands introduce and consider introducing reusable products and reselling previously used ones. Sustainable eCommerce is gaining ground among many successful brands, who recognize that choosing to invest in reusable products and reselling used ones not only makes good sense environmentally but also can lead to financial gains.
Investing in reusable or second-hand items has clear environmental benefits, at the same time helping brands build their credibility and appeal to a wider range of customers.
Subscription business model
The subscription business model is a great way to foster sustainable eCommerce. Not only does it allow customers to ensure they get the products and services they need on an ongoing basis, but the regularity of subscription payments makes it more predictable for businesses to plan ahead and stay profitable.
Moreover, subscription-based services can be tailored to different needs, making them more appealing and valuable to customers. With this business model growing in popularity, businesses that are interested in ushering in a new era of sustainable eCommerce should certainly consider leveraging subscription models as part of their overall strategy.
Subscription business model on Magento online store
Here is an example of the successful implementation of the subscription model Panda Group did for tink.de IoT marketplace. A file storage service from Google called Google One is now available for eCommerce customers with a 6-month free trial period.
Panda Group is the first European Magento Agency to have experience in the implementation of Google One subscription. This is certainly one of the Magento integrations giving merchants a lot of business opportunities, increasing customers’ convenience at the same time.
BOPIS – Buy Online and Pick up In-Store on the Magento website
Although it might not seem like the most groundbreaking omnichannel eCommerce trend, the Buy Online Pick up In-Store trend, or BOPIS for short has brought great results for online marketplaces around the world.
Not only does it make shopping even more convenient for customers, but also helps companies embrace sustainable eCommerce in a more efficient way. It cuts the costs of fulfilling orders and reduces delivery times, providing a great customer experience while being cost and time effective.
We’ve seen so many businesses using BOPIS to ramp up their omnichannel operations and it surely is a testimony to its success as an eCommerce strategy.
Omnichannel in Magento store
One of our clients already took an advantage of this trend and implemented in-store pick-up to meet the clients’ needs. The fact is, this solution is not only convenient for the clients but also cost-effective for eCommerce stores as it eliminates delivery costs. Here we present the story of in-store pick-up implementation.
Magento eCommerce website UX boost sales
Practice shows that nowadays online platforms can gain an advantage by providing an excellent customer experience. This prevents not only a higher ratio of cart abandonment but also increases customer lifetime and loyalty.
88% of online customers declare that they won’t return to a website because of the bad UX, and 44% of customers share information about bad UX with their friends.
One of the main goals in the coming future should be to constantly work on eCommerce best user experience. Magento is a popular eCommerce platform that enables businesses to create a sophisticated online store UX that allows distinguishing among competitors.
Magento eCommerce platform UX step by step
There is always room for improvement when it comes to user experience (UX). Some areas that could be improved include:
- Mobile User Interface (UI) to be ready for mCommerce
- Checkout process made the easiest possible
- Omnichannel for convenient purchase
- Friendly chatbots
By making these improvements, Magento can provide an even better involvement for its users expecting the best experiences in online shops.
Magento eCommerce store mobile UI
eCommerce customer appreciates authenticity and social connections with brands. They expect more authentic content and messages about products. Customers want to build closer and equal relations with brands. Social media are a great channel for this purpose, and online businesses should realize that Social Media goes along with mobile devices towards mCommerce.
The technology overcomes the inconvenience of effective purchasing on small screens and mCommerce is skyrocketing with a growing range of over 400% from 2019 to 2024 according to eMarketer‘s predictions.
This means the necessity of paying more attention to a mobile user interface while Magento eCommerce development as well to make mobile shopping more convenient and support customer loyalty toward online stores.
Successful Magento store Checkout
Creating a successful eCommerce checkout for your Magento store doesn’t have to be a challenge. With the right design plan and some attention to detail, you can develop both a comprehensive desktop and mobile shopping experience supporting overall customer experience in various touch points with your brand.
17% of cart abandonments are caused by too complicated a checkout process according to Baymard Institute surveys.
Aside from technical considerations like code quality and scalability, account for elements such as customer convenience and ease of navigation in your checkout design. Remember – achieving a successful checkout process is essential to eCommerce success!
Magento Checkout tailored to your business needs
There is no “one size fits all” eCommerce checkout solution, but with the eCommerce stores built on the Magento platform, a successful checkout process design is achievable. Magento allows store owners to establish a secure and fast experience, both in desktop and mobile commerce channels.
Smooth Checkout for customer retention in your Magento store
To provide the best possible experience for internet users and make sure that the checkout process goes smoothly, consider solutions like:
- utilizing payment gateway integration,
- simplifying form fields,
- increasing trust through customer reviews and social login
– just to name a few. For more details please check tips and hints for successful Magento checkout.
With the right balance of customizable tools, eCommerce businesses can create a positive user experience that drives sales.
The omnichannel business model for customers’ convenience
BOPIS Buy Online Pick up in Store is one of the elements of the omnichannel strategy. The other way is customers expect to return goods in-store. The retail business challenge is to combine online and offline as well as inventory management.
64% of customers declare to be more willing to purchase when a retailer is present online and offline.
The clue here is to make the brand touch points consistent, processing product and customer data in an effective way and creating services meeting the customer’s expectations.
According to Google, 90% of multiple device owners switch between them to complete a task. It shows the way people use technology and it affects the way they shop as well.
Online merchants are aware that this is a solid basis for business growth and require Magento developers of eCommerce sites to have technical solutions combining various features in a comprehensive manner to manage online and offline business activity.
It is also required to build a technology stack for an eCommerce website going smoothly with hosting providers, search engine crawlers, and supporting Magento SEO efforts.
For some more details about why Magento is a great option for an omnichannel business model, please check out our blog post.
“Phygital” next step after Omnichannel
A phenomenon of merging physical and digital space is called “phygital” and will be more visible in retail in 2023 than ever before. Watch one of the examples here – a store where digital technology assists physical products and takes the retail shopping experience to another level.
We are sure that our next year’s predictions for eCommerce retail in 2024 will tackle this subject even more.
Friendly chatbots shopping assistant
This is another way users interact with brands and the way of brands’ customer relationship management. Instant reactions to customers’ questions are crucial when solving problems in real time with 24/7 availability.
With the rise of intelligent technologies, the chances of a customer already having a conversation with an AI-powered chatbot is 80% likely! Innovation has made interacting with machines easier than ever.
Substantial growth is predicted in the chatbot’s revenue growth, with an estimated 22.3% CAGR (Compound Annual Growth Rate) from 2022-2031!
eCommerce platforms of the future – Magento 2
Magento development is future-oriented with the technology supporting eCommerce retailers’ business goals and making Magento platform friendly for the users and customers as well as the merchants.
E-commerce websites are surrounded by more and more fancy tools that suppose to help in eCommerce sales but instead became too complicated and blurred.
Magento eCommerce technology stack
The question is how to use eCommerce technology wisely. What technology stack to choose for your business’s best purpose?
As eCommerce continues to grow and evolve, it’s important to use technology effectively in order to stay ahead of the competition. This means using tools like:
- AI for the personalized shopping experience
- Speed and performance improvement technologies
- Voice search optimization to make it easier for customers to find what they’re looking for
- AR/VR product presentation
- Headless commerce to access various devices with the offer. It is also an emerging trend that allows businesses to decouple their front-end and back-end systems for greater flexibility
By keeping these trends in mind, businesses can ensure that they are using the best possible technology to meet the needs of their customers.
AI technology personalizes and boosts user experience
Utilizing artificial intelligence (AI), companies can make a shopper’s experience more personalized by leveraging mCommerce technologies. Magento, the leading eCommerce platform, has been at the forefront of such innovation.
For example, they’ve enabled technology to track customer actions and preferences to best tailor experiences such as product selection and personal recommendations.
With mCommerce-powered AI integrated directly into the purchase process, shoppers no longer feel like “just another number” but instead are given an engaging and memorable user experience that keeps them coming back for more purchases.
AI for eCommerce toolkit
Unlock your e-commerce potential by embracing data-driven decision-making. Automate merchandising, onsite browsing, and product recommendations for an enhanced customer experience – powered by artificial intelligence! There are a lot of tools for this purpose, and with our assistance, you can choose the best options for your business. We have experience and recommend e.g. tagalys.com, algolia.com/ or segmentify.com/.
Hyvä Themes for better performance and UX
Hyvä Theme offers cutting-edge technologies that help to improve the speed and performance of the Magento eCommerce store. This new product sets out to significantly enhance the Core Web Vitals matrix and page speed on mobile devices as well as desktops so that users get an ultimate shopping experience with agility.
Hyvä Themes enables customers, who are navigating through an eCommerce website, to quickly move from one product page to the other using all the modern cutting-edge technology combined in one, for maximum performance.
With Hyvä Theme, Magento development became faster and more effective saving time and money. You can now increase productivity by making sure that all elements of your store perform optimally for smooth user interaction. Give your customers a seamless browsing experience with blazing-fast page speed – with Panda Group support you can start optimizing your platform with Hyvä Themes today!
Check on Hyvä Themes by reading our blog articles about the new Magento frontend.
Voice search optimization
As was already mentioned above, mCommerce grows and responds to people’s way of communication and purchasing. Voice search is another trend becoming popular and will probably be used frequently in the future.
So first make your site mobile-friendly. There are some ways to achieve this:
- responsive design using PWA / AMP technology
- optimizing the checkout process to make it smooth on mobile phones
- onsite content optimization with alt texts that are useful when voice searching
Google indicates that people are increasingly turning to Google Assistant for help. 70% of users express their needs in full sentences rather than keywords. Be prepared for this and optimize your Magento website to a voice search engine for better performance among your target audience.
AR/VR Augmented and Virtual Reality for eCommerce
Popular eCommerce platforms engage AR/VR to enhance product presentation. Customers expect to receive all necessary information and product experience similar to or even better than in brick-and-mortar stores.
To meet the customer’s needs and to take advantage of competition you decide what technology will express your product’s attributes the best. Here you have some propositions on how to improve the shopping experience.
Headless commerce is an emerging trend that is dedicated to providing customers with access to a vast amount of devices with offers. This allows businesses to decouple their front-end and back-end systems and provides them with greater flexibility in managing their business operations.
Custom experiences on multiple devices
By utilizing the Magento Platform eCommerce, merchants are able to deliver custom experiences across multiple devices, be it web or mobile, while still leveraging the features available in the platform.
It helps streamline store development, improves customer engagement rates, and accelerates revenue growth. With headless commerce, companies can maximize the potential of their e-commerce capabilities and channels while continuing to deliver enjoyable user experiences on all devices.
For more detailed information about how headless commerce works and what are the benefits, please check on the blog article Headless Magento eCommerce.
Magento eCommerce trends conclusion
Thriving eCommerce businesses of 2023 will have one thing in common: a well-designed, easy-to-use website. Front-end design isn’t the only important aspect of an eCommerce store. For customers to keep coming back, your site must also offer excellent customer support.
By investing in Magento technology, you can be confident that your eCommerce business is future-proof and ready to take on whatever trends come it’s way. Ready to get started? We’re here to help you develop your ideal Magento website.
Let’s talk today to learn more about how we can work together to create a successful online store.