eCommerce Trends for 2023

  • Increased use of mobile devices for shopping
  • Buying directly on social media sites and from livestream
  • Personalized shopping experience – product customization to payment options
  • Consumers also want their data protected and not shared
  • Carts are smaller, people are spending less
  • Messaging has to be optimized per each marketing channel
  • Subscriptions and memberships are a way to counter economic instability and inflation
  • Customers buy brands that align with their values and beliefs
Inflation is Impacting Shopping

While national economists tell us we aren’t in a recession, spending patterns indicate consumers feel differently. After three years of increasing costs, there is a general retrenchment in buying behaviors across all segments, although services and splurging on restaurants and travel tend to be prioritized over packaged goods.

“22 percent (of consumers) predict a US recession and long-term economic pain. And nearly half of survey respondents report having a “mixed” outlook: they expect the economy to recover but not for another six to 12 months. These numbers are less favorable than they were throughout 2020.”
- McKinsey & Company April 2023
Federal Reserve Making Slow Gains

Shoppers are still spending, but carefully and selectively. Rising home, rent, and gas prices are the largest contributors, and food costs remain high. 

Overall prices increased 4.9 percent from a year ago last April, slightly beating expectations of a higher number but still above the Federal Reserve’s target inflation rate of 2.0 percent. 
– U.S. Bureau of Labor Statistics Consumer Price Index April 2023
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Contact Todd Flaherty, Partner to discuss your business needs.
Todd Flaherty | (207) 610-7748 | tflaherty@shipright.biz
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