New strategies for e-commerce merchants to grow their companies and provide exceptional customer service have emerged as a result of the growth of digital commerce. This is a result of the industry's ongoing ability to adapt to meet new demands and opportunities to create a seamless purchasing experience by providing consumers with a wide variety of goods and services and finding novel approaches to connect with customers through online storefronts.
Keep up with market trends as a company owner or other participant to take advantage of upcoming opportunities and lessen the effects of possible disruptions.
Millions more consumers are now shopping online thanks to the substantial growth of e-commerce over the past three years. With market revenue expected to reach US$9.02 billion in 2023, the e-commerce sector is expected to gradually take over the globe.
Here are some of the biggest and most revolutionary e-commerce developments that could be used to improve customer experience while also growing businesses:
Social shopping is expanding.
The tendency of using social media for e-commerce is one that is anticipated to pick up steam in 2023. Many companies in Nigeria already sell their products on social media sites like Facebook and Instagram, but this trend is anticipated to grow over the next 12 months as social media is a potent tool for attracting new clients and raising brand recognition. Businesses that profit from this trend will be in a good situation to succeed.
The Rise of Omnichannel
With the ability to research products, compare prices, complete transactions smoothly across channels, and switch between devices without losing their place in the buying process, consumers are no longer restricted to a single device or channel. The National Communication Commission (NCC) reports that 24% of internet users intend to make transactions online in the near future, adding to the 89% of users who already do so.
Due to this trend, numerous e-commerce websites, including Jumia, have made it so that anyone, regardless of platform or channel, can reach their channels. Customers can access their profiles on any device by logging in via the website or the app. It is anticipated that this ease of purchasing will increase online sales.
The increased application of machine learning and artificial intelligence in e-commerce will be a significant development in 2023. These technological advancements can assist companies in personalizing customer interactions, increasing the precision of their suggestions, and improving decision-making.
To boost online sales and the success of e-commerce, personalizing a customer's online purchasing experience is essential. Instead of user-generated or user-inspired interfaces, users are getting weary of algorithm-powered interfaces and yearn for tailored and personalized experiences. Customers want to feel as though there is someone looking at them from behind a computer screen. It doesn't need to be complicated; it could be something as simple as a personalized email, a carefully selected coupon code, or something else.
Nigeria's e-commerce market is predicted to expand significantly in 2023 thanks to rising smartphone adoption, a rising middle class, and government support. Businesses will be well-positioned for success in the upcoming year if they can keep up with these trends and adjust to the shifting market.