Shopify Website Ecommerce Trends 2023

Each year, Shopify produces an annual report where they detail the latest trends and statistics in ecommerce trends for 2023. If you want to read the full report, it is available here. The team at Confetti Design have put together a summary of the Shopify website ecommerce trends for 2023. There is a lot of data, so we’ll try and keep it relevant to small business.

Retail sales growth – ecommerce website sales & bricks and mortar sales

A key take-away from the Shopify ecommerce trends for 2023 report is worldwide retail sales. The retail sales grew a whopping 21% in 2021. That’s the good news! Unfortunately, that kind of growth rate won’t be realised for the next few years. Growth rates of around 5% are expected from 2022 to 2025. This growth is partly due to inflation. Higher prices are reducing the spending power of many small businesses. With this rising inflation there is a reduction in spending power for consumers. Which means that more and more online shoppers will shop around for better deals.

Customer experience is the top priority

The Shopify ecommerce trends for 2023 report makes a strong statement. Improving the customer experience is the top priority for global businesses! Consumers now want their shopping to be personal to them, an instant purchase, and most importantly – responsive. Consumers more and more want a high-value online shopping experience. They want it wherever they are browsing. Whether that be website or social media. The team at Confetti Design are experts in ensuring the customer experience is the top priority of our website design. If you want to understand more, we have recent articles on ecommerce store design that will be of interest.

Small business value to customers

With prices rising globally due to inflation, small businesses need to find ways to cut costs as online shoppers look for less expensive options. Many online businesses are planning on raising their prices. This can be problematic when shoppers are looking for cheaper products. If a small business is intending on raising their prices, they need to detail the value their product adds to keep customers. Alternatively, small businesses can introduce new products at a higher price. An alternative to making existing products more expensive.

Social is having a greater impact

Although ecommerce is slowing compared to 2021 growth, it is still taking a larger share of the total retail sales pie. In fact, 9 out of 10 people buy from a brand that they follow on social media. The Shopify Website Ecommerce trends for 2023 report notes that social media reduces the friction between product discovery and product conversion. Social media simplifies the engagement between small business and consumers. The report survey found that using social media for marketing and for promotion is the most important customer acquisition strategy and retention of existing customers. More information about how to setup your Instagram account can be found here.

What are the top strategies to drive Shopify Website & ecommerce growth?

Knowing the economic environment and the current challenges, we need to understand what the top strategies to drive ecommerce growth via your Shopify website are? We’ve already identified that using social media as a sales channels provides opportunities for marketing and ecommerce growth. The strategy to offer more premium and higher value services and products can be a way to drive ecommerce growth.

Small business owners should also look at offering more payment methods for customers. The great benefit of ecommerce platforms like Shopify is that they are already integrated with most payment gateways, so it could be as simple as creating an account with the payment provider like Apple Pay and enabling the payment option in Shopify’s backend. We detailed some of the backend features of Shopify on the Confetti Design website.

A greater use of ecommerce marketplaces could enable sales growth. Small businesses should consider ecommerce marketplaces such as Amazon, eBay, Etsy and Alibaba. These ecommerce marketplaces typically invest in driving customers to their website, so you can value on the proposition your product or service delivers to the end customer.

By using your customer data in more detail, small businesses can better grow their ecommerce sales. Small business can use their customer data to better target different customers, segmenting customers to more specifically offer different products, and to personalise their ecommerce product or service.