Last year, global online retail sales surpassed $5 trillion dollars – that number is expected to grow by 56% over the next four years, reaching more than $8 trillion dollars in 2026.
A leading unified customer experience platform has come out with the 3 top retail trends in 2023, that will be integral to online retail success next year.
Retail trend #1: An omni-channel approach
The customer journey is far from linear – consumers jump from one channel to another throughout their day and expect a consistent brand experience along the way.
Retail trend #2: User generated content
Research shows that consumers crave a more authentic experience online and trust other customers more than they trust ads, making UGC a crucial component of a successful online strategy. Ninety percent of consumers claim UGC holds more influence over their buying decision than other marketing and sales content.
Retail trend #3: Live video
Live video is still catching on, but it will grow in popularity as consumers seek more personalized experiences online. Last year, live video shopping in China drove $300 billion in sales in 2021 and is expected to deliver nearly $480 billion by the end of this year.
Let’s discover how these trends can capture value and create profitable marketing, sales, and service strategies for your online business.
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