Did you know 2023 was a leap year? That’s right, this year was literally longer than any other (well at least considering that 2016) –– and you thought you were picturing it! To some, it felt like an additional decade!
No matter how you’re feeling about 2023, we can all agree that almost whatever altered –– from how we celebrated vacations and birthdays (seriously … drive-by parties!) to how we went shopping.
Thankfully, when the coronavirus passes, we can expect much will ultimately return to typical, however, I forecast that what will likely not change is the digital landscape, especially E-Commerce.
Whatever is online now and, expecting next year, it’s going to stay there.
A variety of patterns saw an increase in temperature this year and here are the big 4 I believe are going to remain hot, or get hotter, in 2023.
1. Do It Yourself E-Commerce platforms
We’ve all made so many purchases online since last spring –– I know somebody in New York City who bought a foam surfboard from a supplier in Southern California on eBay and had it shipped to his apartment or condo on the Upper West Side!
The pattern here isn’t just shopping online however small retailers use DIY eCommerce platforms like Amazon, Facebook Shops, and Shopify.
Amazon Stores give entrepreneurs the advantage of having the Amazon brand name behind them; users can develop and tailor a devoted brand name location on Amazon with a self-service Store at no additional expense with “Amazon” in the URL.
As of today, the stores are global, with shops offering products on every continent except South America (and Antarctica).
Facebook Shops make it easy to produce an online store, like Amazon and Shopify, however, the reward here for business owners is a single shop experience that works on both Facebook and Instagram. Even vehicle dealers are utilizing Facebook Shops.
Facebook Shops is complimentary and, going forward, the platform will enable services to offer items to clients through the chat functions of WhatsApp, Messenger, and Instagram Direct, and to tag items throughout live streams.
Shopify just recently released its inaugural Future of Commerce report, which will detail yearly e-commerce growth beginning this year.
Shopify stated it saw extraordinary development this year, with new store production growing 71% in Q2 2023 compared to Q2 2022, and a record number of merchants contributed to the platform in Q3. The business predicts 2023 will only advance this pattern.
All 3 of these platforms will heat up next year, particularly as the value of contactless payments and non-contact pickup choices increases.
2. Streaming Provider
I’m sad to say it, but I don’t believe we’re going back to motion pictures for a very long time, and this suggests streaming services like AppleTV+, Disney+, HBO Max, Hulu, Netflix and, naturally, Amazon Prime with 100 million members and SVOD (streaming video as needed), are here to remain.
Required evidence? Look no further than Warner Brothers’ current handle HBO Max: every single among Warner Brothers’ 2022 motion pictures will debut in theaters and on HBO Max at the very same time.
What this indicates is one of Hollywood’s biggest studios is no longer banking on movie theaters. We’re taking in the material in your home, and this will only increase next year. Netflix has 137 million subscribers, with Hulu lagging at about 20 million. AppleTV+? JP Morgan anticipates it’ll hit 100 million subscribers by 2025.
3. Working From Another Location
We’re not going to the films, nor, for the many parts, are we going back to the office. Remote work, one of the dominant patterns of the COVID-19 pandemic, isn’t going anywhere (pun planned). While there’s little about the pandemic we can say was lucky, I believe we can agree we’re fortunate it occurred now, when we have the technology that makes e-commerce, streaming, and working from home possible –– picture if COVID-19 had struck 10 or 15 years earlier?
As for working from another location, I think my colleague Forbes factor, Daniel Newman, accomplishes:
“Even as economies gradually resume and workers are finally allowed to go back to work, a business will continue to be charged with securing staff members from possible outbreak renewals. Numerous big tech companies like Google and Facebook have extended currently their work from house policies through or for parts of 2021. Even smaller sized companies are keeping this newfound versatility as a functional alternative.”
4. Telemedicine
A great deal of us did our best to avoid physicians’ workplaces and healthcare facilities throughout the pandemic, and telemedicine made it possible for a number of us to receive treatment without having to leave the house by means of patient websites and virtual visits.
According to McKinsey & & Company, consumer adoption of telemedicine has grown tremendously, from 11% of U.S. consumers in 2019 to 46% now using telemedicine to replace canceled health care sees since of the pandemic; medical suppliers are seeing 50 to 175 times the variety of patients through telemedicine than they did previously.
Prior to the pandemic, the overall yearly profits of U.S. telemedicine providers were approximated at $3B. With the acceleration of consumer and service provider adoption of telemedicine, and due to the fact that of the extension of telemedicine beyond virtual immediate care, it’s possible $250B of present U.S. health care investment might be virtualized.
So, 2023 is going to look a lot like 2022, but … better? What do you believe? Drop me a line at LinkedIn –– and delight in the New Year’s events … something tells me it’s going to be a big (yet socially distant) one!