The report from the Brazilian E-Commerce Association also shows e-commerce trends for 2023
Over the past two years, the digital market has undergone a significant transformation. The transition to e-commerce was previously seen as slow and arduous, but the pandemic and physical store closures have broadened the horizons of retailers and selling online is now more of an option.
One Report of the Brazilian Association of Electronic Commerce (ABCoom) shows that the forecast for e-commerce in 2023 is a growth of BRL 185.7 billion. This represents a significant increase over the previous year.
Erivelton Cabral, CEO of Weethub, a consulting firm specializing in e-commerce, warns of the importance of this moment for online retailers. “What is happening is a drastic change in consumer buying behavior. Buying from online stores, markets or even via WhatsApp is accessible and comfortable for any audience. Retailers, especially in the physical sector, have to adapt to this new business model if they want to stand out.”
Retailers need to be aware of new technologies
The Internet is no longer an obstacle for consumers, on the contrary, it has widened the purchasing possibilities and the power of choice. Therefore, any market segment can build an e-commerce success story. Ecommerce trends for 2023 aren’t much different from previous years, but it’s worth remembering that the digital marketplace doesn’t stand still and retailers need to reinvent themselves frequently.
For Erivelton, technological progress will be an essential factor for the growth of e-commerce in the coming years. “There is no brake on what the internet can do and how it is present in people’s lives. We already have artificial intelligence that builds realistic images and texts, from the simplest to the most complex. We are facing the revolution of the century, and this will affect the market, buying behavior and even consumer demands. For retailers, the only way out is to adapt their business to all these advances,” says Erivelton.
Furthermore, some sectors that have strengthened during the pandemic continue to grow and dominate the digital market. Retailers should be aware of the opportunities in 2023:
Fashion and Clothing
In constant growth since 2021, the fashion sector is one of the most popular online retailers. Driven by major trends on social media platforms like Instagram and Tik Tok, various clothing styles and segments have gained prominence.
However, there is a collective feeling that, due to the large number of stores opened in recent years, this niche is “saturated”.
The fashion industry has grown significantly since the start of the pandemic. If before the power to sell belonged to the big fast fashion brands, today even small and medium-sized enterprises are building success stories in this segment.
But, on the other hand, as more stores open, the competition increases and this is a common movement in the market. It has happened in physical retail and it will happen too on line.
The thing is, the market is saturated for retailers proposing to do much the same or go with the flow and do what everyone else is doing.
Pet Shop
The sale of pet products is directly linked to the authority and strength of the brand in the marketplace. As in the fashion segment, there are large distributors reaching the whole country, but this is not an obstacle to building a successful online business.
Brazil has the third largest pet population in the world. In the first quarter of 2022 alone, this niche achieved an increase of 12.6%, equal to approximately 39.6 billion reais.
As in other sectors of online retail, the product alone is not enough for a purchase decision and the retailer who has a physical activity and is about to sell online needs to work constantly to strengthen his brand, taking advantage of the engagement on social networks.
Online retail is increasingly establishing itself as a major means of commerce. In 2022, the sector saw a 40% increase in sales over the previous year, driven by the social isolation caused by the COVID-19 pandemic.
With the arrival of 2023, the experts of Weethub argue that online retail should consolidate even more, becoming more and more competitive and requiring new strategies from retailers to stand out on the market.
Fitness and Home & Decor
Two niches that have stood out a lot are Fitness and Home and Decor. The former is driven by growing concerns about health and physical well-being, particularly among young people.
Products such as clothes, shoes, accessories and equipment aimed at exercise are more functional than emotional, but even so there is room to work on consumer desire.
The Home and Decoration segment, already growing in recent years, gained even more traction during the pandemic, as people were spending more time at home and looking to invest in the comfort and beauty of the home.
Decoration items in general have a more constant demand and do not depend much on seasonality, but it is important to create desire in consumers so that they feel motivated to shop in this segment.
For retailers seeking success in sales and billing, investing in the good is crucial partnerships marketing and participation in popular trends. Additionally, you need to work on building a strong brand and engaging consumers through social networks, blogs, and video channels.
However, it is important to remember that the market is increasingly competitive and saturated and that just having good products is not enough to guarantee success in online commerce. The reseller needs to stand out in a new market era and, for this, must carefully calculate his steps and rely on his own experience.
The year 2023 is an opportunity for retailers looking for sales and revenue success. Those who prepare themselves properly and adapt to the market trends will have a great chance to be successful in this new era of online commerce.
Website: https://weethub.com/
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
