Marketing keeps us on our toes. Things are always changing, and businesses need to keep up with the products people want, where they look for them, and the marketing mediums that speak to them the most. As we get closer to the halfway point of the year, it is still beneficial to look at some of the of the biggest ecommerce trends that kicked off 2023 and what they could mean for your business moving forward. If these trends weren’t already factored into your marketing strategy, now may be the time to adjust and optimize!
Trend #1: An Increase in Product Purchases Through Social Media
It is common for people to be wary of purchasing products or services through social media platforms. However, the hesitancy seems to be waning. According to HubSpot’s Consumer Trends report, 41% of people now report that they feel more comfortable with purchasing on social media. This is a huge leap from the 12% who were comfortable with purchasing through social media in 2022.
The increase is most apparent on platforms like Facebook, Instagram, and even TikTok. This can likely be attributed to increasing improvements in data privacy, online safety measures, and better ecommerce tools.
If you aren’t already using social media to assist with your online sales, then this is your sign to start. If you are on one or more social media channels that provide ecommerce tools, it may be time to “set up shop” if you haven’t already.
For those who already have their online storefront set up on any social media platform, let this serve as a reminder of its importance. Make sure double check that things are set up to work as easily and cleanly as possible.
Trend #2: Increased Social Media Use for Older Generations
Many of today’s adults grew up being told not to trust people on the internet. Ironically though, data is now showing us that the ones who tried to scare us away from trusting people online are actually the very ones doing it the most today.
According to HubSpot, Boomers and Gen-Xers are increasing the amount of purchasing decisions that they make using social media. Today, up to 29% of Gen-X users and 16% of Boomers are using social media to find and decide on new products.
For those who are using social media to build awareness and help with product sales, it may be time to reassess who you are marketing to. Make sure that, if your target demographic includes people within the age range of Boomers and Gen-Xers, you are producing content that speaks to them.
Gearing content to be more easily consumable and relatable to these age groups can help build trust which will garner better sales and a larger following as a result.
Trend #3: Mom and Pop Shops Are Still Going Strong
Amazon may be convenient, but nothing beats supporting small businesses. Maybe it’s the knowledge that you are supporting an actual person’s family, but whatever the reason, data shows that small businesses are still holding their own.
In fact, there is an increase in the number of people who are choosing to purchase items because they are made by a small business.
If you are the proud owner of an independent or small business, your hard work is being seen and considered. The stats show that this is your time to shine.
It may help your brand awareness efforts to focus on highlighting the human aspect of your business, meaning who you are and how you got started. You can also focus on showcasing the more personalized aspects of your business such as your commitment to quality, one-on-one interactions, or other key selling points.
Keep up your advertising efforts to the areas around you to reach locals that may be on the hunt for good small businesses to make their go-to during their regular lives.
Trend #4: Buyers’ Values Inform Who They Purchase From
More people are living out the mantra “Put your money where your mouth is.” Buyers are actively taking a company’s values into consideration before they make a purchase.
Consumers are actively looking at where companies stand on issues of racial justice, climate change, and LGBTQIA+ rights. They are more likely to support a business that is regularly giving back to one or more of these causes.
Your “About Us” page may have just become one of the most important things on your website.
If you have ever hesitated to be vocal about some of the ideas that your company stands for, being more vocal about it may be beneficial. You can gear your marketing efforts to showcase your commitment to sustainability or acceptance. This should be clear on your social media platforms and your website alike.
Not everyone has the time or capacity to keep up with the ever-changing trends in marketing and social media. That’s why it helps to have a team you can rely on to help you stay ahead.
Reach out to Varga Inc to start crafting a marketing strategy that keeps the latest and most impactful trends in mind. We keep marketing simple and straightforward.