What: Shopify shares its insights and predictions for 2023.

Why it is important: 2023 will be all about managing a return to normalization in a very chaotic and unpredictable context.

Shopify issues its 2023 report outlining the major trends identified in supply chain, payment transactions, marketing, e-commerce and retail. Since ‘unexpected is the new normal’, this report aims to help brands and businesses to address inflation and new customer behaviours. In terms of identified trends:

-    Supply chain: the war in Ukraine has broken hopes of a return to normal in 2023 and shows that long-term planning is needed in order to set up resilient supply chains, though new sourcing lines and inventory control,

-    Strategies to cut costs during inflation might be extremely beneficial to customers also impacted by the context, provided the savings are passed to them. Price raises are also possible but need to come along new product proposals,

-    Marketing: collaboration will help to overcome third-party data hurdles, with influencers for instance,

-    Ecommerce becomes social commerce,

-    Instore experiences need to be reviewed and upgraded in order to entertain a local customer in order to maximize its lifetime value.

Commerce Trends 2023