Magento is an open-source CMS for eCommerce store development with strong marketing features. It even sports robust SEO and catalog management features. Magento holds a strong market share of all websites. This includes sites without CMS or even a custom-coded foundation.
According to the reports, Magento is one of the most popular CMS across the globe. This is a big achievement when we see plenty of competitors across the market. There are over 187,500 live websites powered by Magento and these include some of the most prominent biggest names. Major ones to share here include Coca-Cola, Ford, Sigma Beauty, Liverpool, Monin, Vizio, Nestle, Olympus, LandRover, Jaguar, and Barbour.
Why do these brands invest in Magento Development Company over other names? The answer lies in the remarkable benefits of Magento including faster loading, reporting facilities, and third-party integration. And above all, it is an open-source platform. Now let us discuss deeper into the major trends that could define Magento development in 2023.
So, let’s discuss the top Magento eCommerce store development trends which you need to head toward business goals.
Why are eCommerce Store Development Trends Important?
- The eCommerce business is increasingly competitive.
- To stay ahead of the competition, trends must be constantly monitored.
- No matter how advanced your eCommerce store is currently if you don’t keep up with late eCommerce trends, you’ll fail miserably.
- You need to keep transforming to ensure future success. As we enter 2023, you need to know these trends to make maximum use of them.
- That’s why it’s so crucial that eCommerce trends are analyzed and adopted promptly. With this implementation, you can drive your apparel store development ahead, and stay ahead of your business competition.
Top Magento eCommerce Store Development Trends In 2023
Magento is one of the booming eCommerce store development platforms when it is integrated with the newest technologies and trends. It helps you to be successful in any competition in the market. So, let’s highlight the top Magento eCommerce development trends for 2023 and years beyond.
1. Artificial Intelligence
Magento eCommerce store development has several AI extensions to assist you in optimizing the store’s performance. Let’s dig into some of the interesting features of Artificial Intelligence for Magento eCommerce store development.
Product Recommendations: Personalization lies at the core of eCommerce businesses. It allows retailers to render relevant product recommendations to consumers by using AI to boost conversions, customer engagements, and sales.
Industry Management: Few Magento extensions are powered by AI, and can assist enterprises to streamline inventory management while apparel store development expands its efficiency. As it is powered by AI, it helps you to anticipate the required changes in product demand and then plan accordingly.
Marketing: If you want to market your Magento eCommerce development store by using AI, it will further assist you in bringing data from several other touchpoints. It is important to provide better insights into consumers’ desires and preferences to serve them in some customized manner and eventually grow sales.
2. Chatbots
Consumers always look for websites offering smooth interaction. This comprises lowering the waiting time and addressing human errors. AI and chatbots are the way forward.
- In 2021, over 80% of customer interaction within the eCommerce sector was managed by AI.
- The market share of AI in the eCommerce sector is going to exhibit a CAGR of 43% from 2020 to 2026.
- The chatbots market was at $3 Billion in 2022 mid. By 2026, it is expected to overshoot $10.5 Billion.
- The CAGR expected from the chatbots market is 5% from 2020 to 2026.
Customer behavior is what engages the market. Thus, AI is highly valuable for getting insights. And the best provision is offering a personalized shopping experience. Product browsing, buying process, and purchasing tendency are key insights shared by chatbots and AI.
3. Push Notifications
Push notifications are not the newest concept in the eCommerce industry. However, this strategy will surely stay in trend for upcoming years. eCommerce customers respond favorably to push notifications. And then they can assist all retailers to improve conversions and engagements.
According to research, 68% of customers turn on push notifications. Therefore, this is one of the perfect mediums for retailers to reach out to their existing and potential consumers on the move of hiring certified Magento developers.
Here are some push notifications that can assist eCommerce brands and the technologies will remain in trend for years to come.
- In 2021, push notifications generated 171% of sales orders compared to the previous years.
- Push notifications can assist all brands in retaining lost revenue. They do it by re-targeting customers.
- You can easily develop powerful loyalty programs by using push texts.
- It further helps you in boosting brand sales and exposure.
4. Voice Search
Voice search is considered the future of eCommerce. If you are the brand owner, you need to be careful not to miss this trend. The voice search feature is used by 135.6 million consumers in the United States, accounting for 40.2% of all internet users in the country. 71% of customers prefer to search using their voice rather than typing. By 2023, voice search in eCommerce store development will be worth more than $80 billion per year.
- In 2018, only 5% of the purchases were made via voice searches. In 2021, the figure reached 20%.
- Several consultants expect voice to reach a $40 Billion channel by 2022.
- In 2021, the purchases made from voice searches accounted for$2 Billion.
- 43% of consumers integrated with voice-enabled devices use it for shopping.
- 41% of the consumers doing voice purchases also use it for product research.
The trend is slowly becoming popular. Soon, voice-driven purchases will be the new norm. And with the availability of a voice-enabled storefront, your store will be far ahead of the competitors.
5. Social Selling
When it comes to promoting eCommerce products, retailers prefer social media platforms such as Facebook, Instagram, and LinkedIn. As a result, social selling is currently the most popular eCommerce trend that businesses are implementing to increase conversions and sales. These Search Engine Optimized online stores have a large user base and can help you spread the word about your products and services in a variety of ways, resulting in increased sales and revenue.
6. Live Streaming
In eCommerce, live streaming is a method of digitally replicating the shopping experience of an offline store. Another Magento eCommerce store development trend is expected to become more popular in the coming years. Customers can watch live-streaming demos of services or products they intend to purchase. It also enables retailers to respond instantly to customer inquiries, allowing them to make quick and efficient purchasing decisions.
According to reports, 85% of brands use videos as a marketing tool, and 85% of marketers say that videos have assisted them in increasing sales. If you want to fully capitalize on this trend to market your Magento store, you can use Facebook Livestream for Magento 2 to display live FB videos directly on your website. During the Livestream, your customers will be able to interact with your brand in real-time and purchase products by checking Magento store development costs in India.
7. AR/VR
The technological revolution is serving several industries. This is because of the emergence of innovative technologies comprising Virtual Reality & Augmented Reality. Seeing its importance, these technologies are significantly crucial for Magento developers during eCommerce store development. Several people complain about not properly experiencing certain products. AR & VR technologies are helping brands eradicate such gaps in online shopping.
There are several reasons to hire Magento developer to focus on integrating these trends. Shoppers can simply visualize products with the inclusion of innovative AR technology. In addition, they can easily check whether the product is worth buying and fulfilling their actual needs or not. The utilization of AR/VR is a super exciting trend that will certainly rule in the year 2023.
Just consider these latest statistics:
- 68% of consumers prefer buying from eCommerce brands having virtual reality.
- In response, more than 135,000 stores will be implementing AR in 2023 to improve the online shopping experience they offer their shoppers.
8. Parallax Scrolling & Mobile Friendly Interface
Parallax scrolls will be a game-changer trend in 2023. To implement the parallax scroll, a product description list is needed. With Magento CMS user scrolling can be easily done without any trouble. This technique, when integrated during eCommerce store development, enhances the storytelling. It is great to use massive amounts of data in a short period. Thus, offering an engaging UX.
Mobile has become highly significant for day-to-day activities. Hence any mobile-friendly website platform is streamlined in operation. With Magento 2 availability, you can experience the mobile responsive website. You can consult a certified Magento development company to build a mobile-friendly eCommerce website.
9. Progressive Web Apps
One of the key trends that eCommerce vendors are integrating regularly is the use of PWA. Online businesses always look to boost their sales and grow customer experience in their online stores. A progressive web app is the perfect means to meet both requirements.
A PWA is a website that operates like a mobile application. Instead of investing in building high-cost native mobile apps, online sellers can take advantage of PWAs to offer improved user experience.
10. Personalized Shopping
Seeing the growing competition of eCommerce websites across the market, it becomes crucial to building customer-centric websites. This will improve the overall user experience. Here Magento CMS brings game-changing advantages to the eCommerce world.
The CMS can assist in building highly responsive websites and apps. This gives the potential scope for personalized shopping. With Magento, it becomes easy to send push notifications and emails to customers as per their shopping behavior. A popular trend is to come up with personalized product pages as per user requirements.
11. Marketing Automation
Marketing automation means automating email marketing and planning social media posts. However, marketing automation has simply turned into a new trend. With 49% of businesses opting for marketing automation, it shows no signs of stopping. It covers areas comprising customized landing pages and easy-to-access shopping carts.
If implemented in the right manner, marketing automation will let you:
- Send out custom emails to your customers.
- Display new products and promotions according to shopping behavior.
- Re-target customers for sales offers.
The automation further supports you to customize the store offerings for each customer. Automated suggestions get influenced by what the customers click on during their visit.
12. Blockchain
We know that Blockchain is still in its emerging stage and the market isn’t that big. But the blockchain-based websites are more promising to drive a higher customer base.
Many eCommerce store development implements Blockchain technology. It is a P2P store where transactions are done via cryptocurrencies. It is completely free for eCommerce vendors and anyone can simply set up a store even without programming knowledge.
Here, the buyer and seller don’t require a third-party mediator. When an order is placed, a block of payment is created and displayed on the network. This simply happens when the seller creates the product and ships it to the buyer. Now, the reason it is great is because of the transparency, authentication, and freedom related to it.
This year and in the coming years, several instances of blockchain-based eCommerce store development will be observed. It includes inventory management systems and more cryptocurrency payment systems.
13. Influencer Marketing
Online influencers are not just celebrities. They have a real set of audience. Believe it or not, over 60% of millennial customers are influenced by their product recommendations. The buying decision of customers strongly depends on influencers’ recommendations.
As per a survey, 30% of customers buy products recommended by non-celebrity influencers. So focus on marketing your products via relevant influencers for sales season in 2023.
Influencer marketing is still not given priority. Find relevant influencers in your niche on multiple social media platforms. With this approach, you can increase your eCommerce sales sharply. Just be smart enough to invest responsibly.
14. Build Communities
Building a community and engaging your customers is challenging. Hence, offering satisfying customer relationship management is essential. To create a satisfying Customer Relationship Management you need to sum up the customer data.
Customer data involves order information, email details, or additional data that they have provided. eCommerce merchants can easily pull out such details in several ways. For example, On-site chat, SMS, Emails, Order statuses, Facebook messenger, customer groups, loyalty programs, and referral programs.
Remember, it relies on how you engage with your customers. How you fix their concerns. How you direct them to the cart is what impacts engagement and conversions. This is why every eCommerce page is essential, even your checkout and thank-you pages need to be optimized for engagement.
15. Content Marketing
Content marketing is not a new eCommerce store development trend but still worth your time. It’s a marketing approach that follows creative content like articles, videos, and social media posts to engage, educate, and address customers’ problems.
Content and social media marketing strategies are different, although they work in collaboration. The former creates content for trust-building, while the latter promotes content to engage prospects and existing customers.
eCommerce sites can build relationships with their audiences by offering quality content. It’s also a great means to drive more traffic to the website and boost conversions.
Content can also work as a long-term investment for an eCommerce store. If customers get a proper solution to a problem with your content support, they’ll spend more time on your website. This ultimately increases your business’s credibility in the long run.
With its multiple benefits, 72% of marketers actively focus on content marketing. Furthermore, 84% of senior marketers revealed their 2022 content marketing strategy as successful.
Key statistics of customer preferences:
- 79% of customers prefer to watch short videos
- 28% enjoy text-based articles
- 14% favor infographics
- 23% opt for e-Books or manuals
The core strategy behind content marketing success is unique, and quality content. Therefore, focus on creating genuine, relevant content for your target audience.
16. Omnichannel Selling
For online business success, omnichannel selling has become significant as it allows them to reach every customer touchpoint. They can easily sell via multiple channels, making them proficient to handle customers from multiple platforms and devices. It majorly includes websites, PWA, social media platforms, and the list goes on.
With omnichannel selling, your eCommerce businesses can engage all kinds of customers no matter where they are buying. Thanks to this eCommerce store development trend, shopping online has no boundaries. For instance, people can buy on eBay, Amazon, Facebook, or any other platform. It has become a new norm in the eCommerce domain, allowing your business to grow multifold.
Here are some ways to offer an omnichannel experience:
- Invest in a PWA if your budget allows.
- Build a mobile-responsive website.
- Apply various tools and methods to meet omnichannel experience.
You must focus on this aspect if you want to build a B2B eCommerce website.
17. Faster Page Speed
Fast load times are among the most significant eCommerce store development standards. For several years, a fast loading speed has been an indispensable ranking and conversion factor. Especially with the release of Google’s Core Web Vitals algorithm update, page speeds are more crucial now than ever for website visibility.
Most search engines expect a site to load quickly, and the time after clicking a link should not take two seconds. You’re most likely to lose visitors if your eCommerce site takes longer than three seconds to load. Visitors won’t come back, and you’re unlikely to retain them! To achieve high rankings in search results, developers need to implement strategies to build light and fast-loading websites.
Which Trend Makes Sense for eCommerce Store Development
Not every trend is worth investing in initially, but which one deserves your eCommerce store development? While some will offer a huge value-add, others seem irrelevant to your particular audience or difficult to implement for your business.
Knowing what trends are the right fit will ultimately come down to knowing your customers, vertical, and competitors. There are several things to evaluate industry trends and make the right integration.
1. Follow industry influencers
Follow relevant blogs and related news in the eCommerce industry so you can be on top of what’s happening. Begin by following influencers and publications associated with your industry, and then move out into other markets to get the complete picture.
2. Research trends reports
Every industry changes as per market and customer demands, and staying up to date via crucial reports is necessary. The stats in these reports usually come from original and reliable research. Avoid just focusing on popular word-on-the-street. When you’re continuously aware of what’s happening in your industry, you’ll simply sense what trends are worth the investment and what are avoidable at that stage.
3. Assess customers’ behavior
Use customer data to find if a trend is appropriate for you. What do the stats show? Several trends might work for your competitors, but you understand your customers best. Consider using multiple data-gathering tools so you can learn customer trends from multiple sources. Use these numbers to analyze the complete trends in your business.
4. Customers feedback
Don’t be afraid to ask your customers what they need. Getting regular feedback from existing customers provides insight into trends, and hence you can build more specific plans for eCommerce store development. You never know, customer feedback might suggest a strategy you hadn’t thought of yet.
5. Study your competitors
Take a thorough look at your competitors. Did they jump on a particular trend? If so, how well it performed for them? Of course, it is not possible to implement everything your competition is doing, but staying alert is another popular means to measure a trend.
Wrapping Up
Online shopping has become highly popular across the globe, making shopping easy and convenient. These days, there are several eCommerce development platforms that businesses can choose to create the best websites. You can hire Magento developer, or consult leading developers to create outstanding eCommerce websites.
If you want to be successful in the Magento eCommerce store development world, you must plan ahead of time for Magento technologies. The competition in the online world is fierce, and only these emerging trends can help you save your business. To get assistance, contact best eCommerce store development company at Magento India.
FAQs
- What is Magento eCommerce store development?
Magento is an open-source eCommerce platform that provides online merchants with a flexible shopping cart system as well as control over the look, content, and functionality of their online store. Magento provides robust marketing, search engine optimization, and catalog management tools.
- How much does it cost to create a Magento eCommerce store?
The cost of developing a Magento eCommerce store varies as per your preferred choice of requirement. For every store the price changes and we can help you first estimate your Magento development cost based on your needs.
- Why does Magento stand out among all eCommerce platforms?
Also, what makes Magento stand out in the eCommerce industry? It stands out because it has useful features, an easy-to-use interface, and a strong community that propels the eCommerce platform forward. It also provides control over the online store’s appearance, content, and functionality.
- Is the eCommerce industry growing?
Yes, the eCommerce industry is growing at an exponential rate. Consumers of all sorts expect to be able to browse and make purchases online. Because of this, several businesses are jumping online and building storefronts to compete for sales. In today’s world, buyers who may not have shopped online were forced to when brick-and-mortar stores closed and mostly offered buy-online-pickup-in-store options.
- How do I measure the success of adopting a trend?
Measuring the success of adopting an eCommerce trend will rely on the specifics of the trend. Before adopting a trend, find it to see if it’s the correct fit for your business and your customers. Also, set a goal for what you wish to accomplish by adopting that trend. Then, use that to analyze your metrics and see if it was a success.
- Is eCommerce undergoing a digital transformation?
More and more businesses report investing in digital transformation. Integrating more technology into their business processes is becoming the standard going forward. eCommerce has always depended on digital technology, but that doesn’t mean that digital transformation isn’t affecting it. eCommerce will continue to grow as technology changes and thus undergoes digital transformation.
- Is headless commerce becoming popular?
Yes, headless commerce is becoming quite popular these days. Headless commerce is a great solution that supports a store’s eCommerce platform to be fully decoupled from the frontend presentation layer. More eCommerce store development is adopting headless because of its flexibility at the backend, moreover the added SEO, content marketing, and digital experience capabilities.
- Is accessibility important to the future of eCommerce?
Yes, accessibility is important to the future of eCommerce. Customers need to be able to access your eCommerce site from anywhere. Mobile shopping allows customers to make purchases from anywhere, which is vital in today’s world. However, if your eCommerce site isn’t responsive on mobile, you’ll be missing out on big opportunities. Shoppers want the convenience of mobile, plus the ability to pay digitally.