8 Ecommerce Trends That Will Rule Online Shopping In 2024
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In this article, we shall discuss 8 amazing ecommerce trends for 2024 that will influence the industry in 2024 and beyond. If your plan to hire ecommerce developer to build your online store then you may want to ask them to incorporate these features as they are potentially going to define ecommerce industry in 2024.
2021, 2022 and 2023 are great years for ecommerce, with many new and remarkable expansions of online businesses. And, as the year 2024 approaches, technological advancements accelerate.
The ecommerce industry is always changing, like retail in general and, of course, consumers. Staying on top of eCommerce trends is significant for any business’s success in the post-COVID era. In this tech-savvy age keep up with new technologies and consider how they may benefit you in the future.
According to Statista, global ecommerce revenue has surpassed USD 3.53 trillion. It is projected to exceed USD 6.54 trillion by the end of 2024. These figures clearly show the expansion of global ecommerce.
If you want to deliver a unique experience, build and strengthen relationships with your customers, and/or make a lasting impression, you have to understand emerging trends in eCommerce.
eCommerce Trends for 2024:
1 – Artificial Intelligence (AI) will be a Masterstroke
AI plays a major role in steering innovative approaches and personalized customer experiences in eCommerce. eCommerce is constantly changing, and those who want to stay ahead of the competition must keep their finger on the pulse.
AI will be one of the dominant eCommerce trends that will make searches more customer-focused. This will assist businesses in targeting and retargeting potential customers.
The implementation of artificial intelligence in online shopping is greatly influencing the eCommerce industry. To begin with, artificial intelligence can now anticipate a consumer shopping approach that is based on the products and websites that buyers purchase from, as well as when they browse. Some of the most efficient forms of AI will become predominant in the eCommerce industry.
Developing personalized experiences on-site or in advertising strategies have been shown to have a significant impact on revenue. As per the studies, retailers loading advanced personalization functionality saw a 25% revenue lift.
Retailers were among the first to recognize the value of integrating AI into their technology toolbox. Hence, the developments in AI spending merely signify how eager retailers are to invest in order to boost the services they provide.
To date, influential AI applications include customer service, sales, and marketing. However, AI is seen to benefit areas such as forecasting and pricing. The advantages of AI in the sales process are very favorable. In this light, ecommerce businesses should consider investing in AI technology.
PS- It’s not an AI-generated content
2 – AR and VR will enlarge the online shopping experience
Augmented reality (AR) has completely transformed ecommerce. With this technology, shoppers can actually see the product they’re looking at, which supports their buying decision.
Due to the difficulty of customers purchasing straight from stores, the pandemic proved to be a great chance for AR eCommerce. AR has a significant impact on the shopping experience in certain industries, such as fashion and home decor, because customers can get a better sense of the item without seeing it in person.
Ikea is a brand that has defined itself as a pioneer in augmented reality. The app helps users to see how a specific piece of furniture will look in their living spaces. Snapchat is another company that is strongly concentrating on AR. In 2021, Snapchat acquired Vertebrae. Vertebrae is a company that specializes in creating 3D images of various brands’ products.
In simple words, companies are using augmented reality (AR) not only to strengthen the customer experience but also to let shoppers check and explore products in the same way that they would during an in-person shopping experience.
An interactive visual environment is referred to as virtual reality. It can pertain to 360-degree videos, photos, or product demonstrations. VR is properly different from AR. While virtual reality provides a fully interactive experience in an entirely simulated environment, augmented reality does not. Instead, it expands a live view of the world with digital elements.
Its application for the technology is virtual showrooms, which enable customers to tour your virtual storefront online from the comfort of their homes.
3 – Google is the ultimate online store
The days of being tethered to a computer for hours on end to browse the internet are pretty much gone. The mobile era has truly turned up.
Going mobile has become the norm for everything from payments to browsing. This is only reinforced by the importance Google now places on mobile-friendliness when determining website rankings.
Mobile optimization is now a must, forcing even the most hesitant online retailers to reconsider their designs for smaller screens.
We all have been living in an era where our first preference while searching for any product online is Google. Even for any information, ratings, reviews, price comparison and so on. People will browse it through Google. Hence, your eCommerce website should have the potential to get the highest ranking in SERPs.
If your website is failing to do so, then you are missing a huge number of customers for your eCommerce store. You have to optimize your website to rank higher on Google search results. The 5 key factors to getting a higher ranking are;
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4 – Initiate Green Consumerism for eCommerce
Firstly, green consumerism means the circumstance in which consumers want to buy products that have been made sustainably. The renewed emphasis on environmental sustainability is a clear hint that online sellers must step up and follow environmentally friendly practices.
Being environmentally aware has been shown to affect online sales. Brands are expected to push the green consumerism wave, with many consumers accepting that environmental concerns influence their purchasing decisions.
Consumers and businesses are becoming more environmentally conscious. As a result, consumers are turning into more conscious of where they shop, the consequences it has on the environment, and the repercussions.
According to one survey, 50% of respondents chose sustainability in the fashion industry. Many businesses are adopting more eco-friendly products by going paperless whenever possible, using bioplastic packaging and recyclable materials.
5 – Social Media, a new marketing tool
Social media is no longer what it was earlier made for. eCommerce SEO has become popular among ecommerce marketing field. It is no more a way for people to communicate with one another. Social media has grown as a marketing tool, allowing brands to reach new audiences.
Online stores are also establishing connections with social media sites, allowing customers to make purchase decisions via the latter. Platforms such as Instagram and Facebook have “buy buttons” that permit retailers to sell through them.
The majority of social media platforms have focused on appealing to online shoppers as an eCommerce marketing trend. But, more saliently, the internet has transformed into a channel through which brands can receive maximum exposure.
Social media marketing (SMM) has already booming and will continue to get you better results. Some of the significant ways to get leads through social media are;
6 – Mobile commerce for online purchases
Another notable ecommerce trend is the growth of mobile eCommerce. Mobile commerce sales are expected to rise by 2024. Customers can make purchases from anywhere using mobile commerce, which is absolutely vital in today’s modern age. However, if your ecommerce site is not mobile or web app responsive, you will be lacking out on significant opportunities.
Mobile users are not only using their devices to buy online but also to browse products before making a purchase. It is the most comfortable way of online shopping. Hence, ensure that not only your website but also your online store, is mobile-friendly. This simplifies and makes ecommerce more reachable to a wider audience.
7 – Voice commerce will take a lead
Voice-based commerce has grown in popularity in recent years, and the latest trends imply that we are moving steadily toward a voice-first world. People are enthusiastic about using voice-activated digital assistants such as Apple Siri, Amazon Alexa, Google Assistant, and others in their daily lives.
According to Juniper, 55% of American households will own a smart speaker by 2024, and 8 billion voice assistants will be in use. Customers describe the product they want to buy in this channel without using any visuals.
Homeware, food, and low-cost electronics are among the most prominent products purchased by voice shoppers. Online sellers are recommended to explore this trend and strive to provide customers with the comfort they require when voice shopping.
Hence, eCommerce voice assistants focus on providing a more convenient hands-free experience for customers, offering quick responses, and greatly reducing checkout time.
8 – Omnichannel will enhance your business omnipresence
With growing consumer segmentation and competition, eCommerce companies are focusing to define an omnichannel presence. This is a primary concern for these businesses because having an omnichannel presence serves them to attract more customers.
Customers may have noticed advertisements activated by cookies, which is an effective marketing trend for business organizations. The eCommerce industry began with desktop computers, but a large percentage of customers now use mobile phones. The spot of saturation has already been attained, and business firms are searching for a way out of the slowdown.
This is one of the primary reasons why businesses are going omnichannel. The variety of browsing devices has also progressed. Ecommerce companies are working hard to verify that their websites are compliant with these devices. Furthermore, it is essential to integrate all business channels in order to build up your online presence.
Conclusion
The ecommerce trends introduced here are aimed to provide a clear overview of the future of eCommerce. The most recent ecommerce trends are causing businesses to embrace new technologies and business practices that are thought to optimize online sales.
Never-before-heard concepts, as well as seemingly insignificant retailing issues, such as improved customer experience, omnichannel selling, and green consumerism, are now in the spotlight.
Over time, eCommerce trends have shifted to upgrade customer acquisition and retention. Failing to keep up with these trends will ultimately result in a major setback.
To remain competitive, online businesses must update to portray new market trends, as well as come up with fresh innovative ideas. Atlas SoftWeb Pvt. Ltd. has been an eCommerce service provider for the last 10 years. We have helped a couple of businesses to gain an online presence and leverage the best marketing strategies as per the changing trends.
Gear up for dominating eCommerce trends of 2024 with us!