E-Commerce trends 2023 2 January 2023

The world of e-commerce is constantly evolving, and as we move into 2023, there are a few emerging trends to keep an eye on. One of the most significant of these trends is the continued growth of livestream shopping. Livestream shopping is a relatively new phenomenon that has gained traction in recent years and is expected to continue to grow in popularity.

Livestream shopping is an interactive form of e-commerce that allows consumers to watch live video streams of products and services being showcased and demonstrated by hosts, and make purchases in real-time. This type of shopping experience has already become popular in countries such as China, and it is now starting to gain a foothold in other parts of the world. In fact, according to recent estimates, the global livestream shopping market is expected to grow from $6 billion in 2021 to $25 billion by 2023

In addition to the rise of livestream shopping, the e-commerce industry as a whole is expected to continue to experience steady growth in the coming years. The global ecommerce growth rate for 2023 is forecast at 10.4%, bringing global ecommerce sales worldwide to $6.3 trillion. This growth is being fuelled by a number of factors, including increased internet access, greater use of mobile devices, and the convenience of online shopping.

Another significant trend to watch in the e-commerce industry is the increasing importance of emerging markets such as India. Over the next five years, the Indian e-retail industry is projected to exceed ~300-350 million shoppers, propelling the online Gross Merchandise Value (GMV) to US$ 100-120 billion by 2025. With a rapidly growing middle class and increasing internet access, India is poised to become a major player in the global e-commerce market.

Looking even further into the future, it is predicted that e-commerce will continue to dominate the retail landscape. By 2040, around 95% of all purchases are expected to be via eCommerce. This shift towards online shopping is being driven by changing consumer preferences, increased accessibility, and the convenience of online shopping.