Online shopping has become the new norm for all ages. Everyone has adapted to the internet to order groceries, electronics, clothing, and more.
However, with that massive scale come landscape changes from both the business and the user’s end. Here’s a list of the most significant trends shaping the future of e-commerce for 2023 and beyond.
Emerging E-Commerce Trends For 2023
While the field of e-commerce is constantly evolving, there are a few trends that have proven effective by 2022. Those are the ones that you need to observe going forward. A few notable ones include the following.
Omnichannel Customer Verification
Your online activity is no longer anonymous, especially regarding online transactions. The scourge of bots buying PS5s and event tickets was eye-opening. You require a verifiable account that lets the vendor know that you are indeed a human. That’s why you’ll observe most e-commerce websites allowing you to check out only when you have a registered account.
Nevertheless, you can bypass that lengthy process through an online ID, which is convenient to obtain in an age of social media. You can link an account without ever giving out any personal information. Anonymously verifying user IDs through 2-step verification is an industry that shall see substantial growth in the coming years.
Buy Now, Pay Later Programs
Keeping payments anonymous is a crucial part of several online shopping portals. A proven way to do that is by redirecting the transfers through a trusted money lending service. It can pay the merchant weekly or monthly while fulfilling the credit from the customer.
The system comprises a buy now, pay later program, which has become quite popular in recent years. With the interest rates of loans and credit cards skyrocketing, it’s a haven for shoppers who don’t have the finances now but can afford to pay the bill from an upcoming pay check.
Voice-Based Browsing and Payments
Now that Natural Language Processing (NLP) has become the focus of modern AI, computers are far more adept at recognising voice commands. While that has already enhanced AI voice assistants like Siri and Cortana, it’s also making headway with online browsing and payments.
Superstores like Walmart and Amazon already offer a voice-based search option through their respective apps and websites. While there is not yet a voice-based payment mechanic, it can see mainstream adoption sooner than you might think.
Stricter Privacy Laws
If you’ve been aware of the recent legal developments, you’ll notice that governments are becoming stricter on enforcing privacy laws. Online merchants are no longer free to share user data, however mundane, with third parties without informing the users.
You don’t want to share your data with e-commerce websites without assurance that it shall be kept secure. While most of them comply with the regulations, there are a few that may have malicious intentions.
How to Keep Your E-Commerce Experience Safe
With so many developments in the e-commerce industry, it can be challenging to keep your data safe. Here are a few valuable tips that can help you alleviate that without any issues.
Strive For Secure Payment Methods
Secure payment methods ensure that your financial information is not shared with the merchant. A few even let you get a chargeback if you come across a scam. That’s why experts advise using credit cards instead of debit cards, as you can get the payments reversed within the billing cycle. Also, stay informed of the most secure payment methods.
Be Wary of Suspicious Deals
It can be tempting to click on lucrative deals that offer expensive products at far lower prices. While it’s an effective way to clear old stock, you must be wary of deals that seem too good to be true. If you’re suspicious of massive discounts, it is best to verify the source and choose post-delivery payment options.
Use a Reliable VPN Service
If you want to use an unknown Wi-Fi network, like when you’re traveling, it’s best to activate a Virtual Private Network (VPN) beforehand. It encrypts internet traffic, preventing many tracking practices (such as IP-based tracking). In some cases, a VPN for Windows can even help you find better deals by evading location-based price discrimination.
E-commerce has opened various opportunities for enterprises and users around the world. Still, maintaining a few safety measures can help you gain the most out of the experience. We hope this guide helps you understand trends shaping the future of e-commerce.