Tendencies of retail online 2023

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The WTO (World Trade Organization) has estimated the volume of trade growth as 2022 progresses.

The entity's estimate for 2023 was 3.4% growth in April. In October, the forecast for the year had fallen to 1.0%.

As trade growth slows, inflation concerns are rising.

How inflation is affecting businesses

83% Are very concerned about the risk that japan mobile database poses to company growth

82% Say high inflation is forcing them to cut company costs

81% Have plans to increase product prices due to inflation

71% said their company is preparing for a recession in the next year.

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Consumer behavior: Purchasing beyond the “price” factor.

Consumers have more choices than ever before, and in the current economic climate, they are ready to exercise that freedom of choice.

According to Shopify data, 7 in 10 consumers purchased from their favorite brand's competitor between May 2021 and May 2022.

And if purchasing power declines as expected in 2023, consumers will continue to look for better deals.

But buyers aren't just considering price.

Sustainability, socio-environmental and governance concerns influence around half of global consumers.

Shoppers want to support more ethical businesses with more sustainable supply chains.