Key Magento Trends to Watch Out for in 2023

As per a report conducted by Pipecandy, Magento powers approximately 154,309, i.e. 2.3% of all the eCommerce stores across the globe.^[i]

In such a crowded market of eCommerce stores, staying in the spotlight can be a challenge.

However, you can set yourself apart from others if you adopt the latest trends and technologies.

In this blog post, we will unravel the top Magento trends that will help you stay ahead of the competition and deliver a superior customer experience.

Ready? Let’s get started!

Key Magento Trends in 2023

Artificial Intelligence (AI) and Chatbots

Artificial Intelligence and Chatbots will continue to gain momentum beyond 2022.

After Adobe acquired Magento, it gained better machine learning capabilities from Adobe’s AI and predictive analysis.

Now, Magento eCommerce store development has several AI extensions to assist businesses in optimizing their store’s performance.

These AI extensions can help businesses render relevant product recommendations to consumers to improve customer engagement, conversions, and sales. What’s more, businesses can easily anticipate the required changes in product demand and manage inventory accordingly.

Also, AI-enabled chatbots cannot only address the queries of hundreds of customers instantly but also understand user intent and provide a human-like experience.

Live Streaming and Live Selling

Also known as live commerce, shopping via online streams on social networks is becoming increasingly popular across the world. According to Statista, by 2026 eCommerce revenues created by live online shopping are forecasted to nearly triple, amounting to approximately 55 billion US dollars.^[ii]

So, eCommerce platforms including Magento are investing in this upcoming trend.

Magento recently provided live streaming features to its eCommerce store owners. The most popular is Facebook Livestream for Magento 2 which shows live videos from an online store’s Facebook page on the Magento website.

Voice Search Optimization

As per Statista, the total worldwide transaction value of eCommerce purchases made through voice assistants is expected to rise from 4.6 billion US dollars in 2021 to 19.4 billion US dollars in 2023.^[iii]

Moreover, according to reports, there will be around 8 billion digital voice assistants in use by 2023.^[iv]

Magento allows store owners to optimize their eCommerce store with voice search. Store owners can find these extensions in the Magento marketplace or get them customized by a third party.

Optimizing Magento stores for voice search can help businesses enhance local SEO campaigns for higher website reach and answer customer queries quickly, thus, saving time and increasing user engagement.

Push Notifications

Although push notifications are not the newest concept in the eCommerce industry, they will be 2023’s hottest trend.

Not only do push notifications keep customers informed about discounts, special offers, and new items but also establish a strong relationship with them.

You can set up the push notifications feature in your eCommerce store and send frequent notifications to your customers to increase customer engagement and deepen relationships.

According to research, 68% of customers turn on push notifications. Thus, this will be one of the perfect mediums for eCommerce businesses to reach out to their existing and potential consumers in 2023.

Augmented Reality and Virtual Reality

Augmented Reality (AR) and Virtual Reality (VR) are changing how customers make online purchases.

AR/VR allows customers to virtually test items or take a virtual tour to check positions, placements, or fixations of the products they want to purchase.

Integrating innovative technologies like AR/VR into your Magento store can improve the user experience and allow customers to visualize products.

This feature will come in handy particularly for clothing stores as it allows shoppers to virtually try on shirts or other items before making a purchase.

According to a recent report, the AR, and VR market is expected to reach $397. 81 billion by 2026, registering a CAGR of 57. 91% over the forecast period.

This growth will be driven by the growing demand for immersive customer experiences, and the rising adoption of AR and VR in retail and e-commerce.

Parallax Scrolling

Parallax scrolling is a design concept that refers to the appearance of design elements moving independently of one another. It was earlier used in video games but now it has become a part of the Magento eCommerce platform.

It is a user-controlled design commonly sprinkled with moving photos, videos, and interactive content while scrolling down or sideways on a page.

eCommerce stores leverage Parallax scrolling to show items in a better context and guide customers through a predetermined content flow.

One of the greatest benefits of this feature is that it turns the website into a storytelling piece for products or services.

It is expected that parallax scrolling will gain more traction in 2023 and beyond, especially for websites that focus on visual content, to deliver a more immersive user experience.

To Summarize

The eCommerce landscape is continuously evolving and Magento is no exception. If you have a Magento store, you can follow these trends in 2023 to stay on top of the competition and make the most of Magento’s capabilities.

Need Help Developing an eCommerce Store? Contact Us!

References:

[i] PipeCandy- eCommerce Platform Market Share 2022
[ii] Statista- Livestream e-commerce sales in the United States between 2020 and 2026
[iii] Statista- E-commerce transactions value via voice assistants worldwide in 2021 and 2023
[iv] Search Engine Land- Analyst: 8 billion voice assistants by 2023