Syte Unveils State of eCommerce Discovery 2023: Y2K Trends, Sustainable Products Lead Consumer Demand
Syte, the leading Product Discovery Platform for retail, today published its annual State of eCommerce Discovery report. The report includes trends and findings from an analysis of more than 2.9 billion eCommerce sessions from the company's expansive global database of fashion, jewelry, and home decor brands and retailers, between July 1 and December 31, 2022. As the retail and fashion industries continue to face headwinds and a volatile landscape due to high inflation and decreased consumer spending, the State of eCommerce Discovery in 2023 report peels back the layers of consumer behavior and spending patterns to highlight deep insights that can boost efficiencies and business performance. Home decor and fashion shoppers, specifically, are increasingly seeking out sustainable products. Syte's data found several trends indicating the growth of purchases in sustainable and eco-friendly materials, with upticks in jute products across fashion (23%) and home decor (7%)from Q3 to Q4 2022. Likewise, purchases of home decor items made with other natural materials such as wood and stoneware went up by 6% and 166% respectively. With the first half of 2023 underway, Syte has identified what consumers are gravitating towards for winter and beyond, with notable changes in purchase habits over the last three months. This analysis goes beyond the SKU level to provide insights into the details that shoppers prefer — from styles and cuts to colors and materials, as identified by Syte's visual-AI-powered product tags.