Future Trends in E-Commerce 2023 | E-Commerce Future Trends | #ecommerce #futuretrends #metaverse

“10 steps to start your e-commerce brand” - https://youtu.be/Kuw5ovt0f4c

Metaverse, artificial intelligence, augmented reality, Web3. 0, voice search commands, live streaming, omnichannel sales, and chatbots are some of the top trends dominating the e-commerce industry in the year 2022 & would get better and better over the next year.

1: AR-Powered Shopping Experiences
Augmented reality enhances the reality of online shopping.
Augmented reality (AR) has been a complete game changer for e-commerce. With this type of technology, shoppers can truly see the item they're shopping for, which helps them make a buying decision.
It is relevant for most industries like fashion, jewelry, furniture, furnishings & so on, as the customer can get a better feel for the item even without seeing it in person.
In 2021, Gartner predicted that 100 million consumers will shop using AR by 2023.
@shopify AR experience.

2: Metaverse
Metaverse is a combination of several technological innovations that operate seamlessly together.
The best way to conceptualize Metaverse would be, an amalgamation of several ever-expanding technological innovations that work together to provide an immersive experience with 3D rendering using avatars.
From NFTs to social commerce to augmented and virtual reality, the metaverse brings technology out of the digital arena, into the physical world.
Metaverse has already begun to establish itself as the next frontier in the digital economy.
with a large portion of the population spending days and nights immersed in metaverse-enabled interactions & it is here to grow

When television became popular in the 1950s, companies had to shift marketing strategies to get in touch with their target consumers. When mobile devices became more common in the early 2000s, companies augmented their strategies with a mobile-specific plan to reach consumers who were no longer tethered to a single location.
Metaverse is designed as an extension of all aspects of our lives. retail organisations should expand their focus from simply whether to sell or not in metaverse to how to do so in a differentiated manner

3: Faster Delivery
Amazon Prime: Prime started with 2-day, then next-day, then same-day
It is the era of instant gratification & shoppers want their orders “NOW”
Rise of Dark Stores (early adopted by CPG brands, further to be adopted by fashion and other retailers)
Today dark store business models work with a delivery timeline of 15 mins. These 15 mins include, Order receiving, picking, packing, and delivery at the doorstep. Sounds impossible, but yes, it's happening

4: Shopping via Smarter ways
Smart Speakers like Alexa, have become an integral part of our lifestyle.
You can find smart speakers in cars, applied for home automation, and now also for shopping
Amazon has also integrated Alexa to help you find, place orders, track order, and customer support queries

According to Morgan Stanley, the digital luxury fashion industry has the potential to reach $50 billion in market size by 2030.

Hope you found this video useful as well as interesting.
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“10 steps to start your e-commerce brand” - https://youtu.be/Kuw5ovt0f4c

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___MUSIC USED___
Alec Koff - @YouTubeMusicLibrary

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Chapters
00:00 - Intro
0:36 - AR
1:34 - Metaverse
2:44 - Faster Delivery
3:16 - Shopping via smarter ways
3:35 - Conclusion