10 E-commerce Trends to Look Out For in 2024

The future of e-commerce holds a promise of innovation, transformation, and unprecedented growth.

As we stand on the verge of 2024, It is smart for entrepreneurs and e-commerce business owners to stay in the know. The brands that will thrive are the ones that can get ahead, understand what people need, and meet those needs in time. So, what should you expect to happen in 2024?

In this blog, we have shared 10 trends that are set to redefine the online shopping landscape in 2024. Join us as we explore these trends.

Mobile Shopping

Mobile e-commerce sales reached $2.2 trillion in 2023 and now make up 60 percent of all e-commerce sales around the world. Apparently, mobile shopping is not going anywhere anytime soon. In fact, it is set to go on the rise in 2024. There’s no place more comfortable to shop than on your phone, so why not? Mobile shopping is confidential, convenient, and easy, so more customers are embracing it head-on.

Now, more than ever, creating a mobile-friendly website cannot be overemphasized. Giving your users a seamless shopping experience will not only increase their loyalty to your brand but also attract new customers to your brand.

E-commerce business owners should focus on simplicity and a great UX for their mobile websites. Also, there should be a focus on a streamlined checkout process, reduced load time, and possibly the addition of mobile payment options.

Sustainability

As consumers become more conscious of sustainability, brands that wish to dominate the e-commerce industry should prioritize ethical practices. Customers are seeking eco-friendly options, and to get this, they support brands that are intentional about sustainability.

According to research, 74% of consumers are willing to pay more for sustainable packaging. If people are so interested in just a package, imagine what will happen when you fully incorporate the practices of sustainability into your business. Some viable methods to practice sustainability include

• Using recycled packaged materials
• Reducing your carbon footprints through sustainable product offerings

Focus on First-Party Data Collection

With the rise of internet fraud, customers are more meticulous about the distribution of their data. Consumers are becoming increasingly conscious of the information requested and collected by brands.

Also, with Google making plans to completely kill off third-party cookies, brands are now warming up to receiving only first-party data. The best part of this is that most customers would willingly volunteer their first-party data when asked.

Brands should focus on the collection of first-party information through quizzes, questionnaires, forms, surveys, and other personalized marketing campaigns.

Transparency

Consumers are openly demanding more transparency from the brands they interact with. Most people connect better with brands that are open and that have a relatable story to share. These are the brands that will earn their loyalty and, subsequently, their cash.

According to statistics, 87.6% of consumers consider trustworthiness and transparency to be important traits of a brand. Customers want e-commerce brands to be transparent about the following:

• Their goals and values
• The quality of their products (their source and method of production)
• Pricing and operations
• Marketing and communications.
• Data usage.

Focus on Social Commerce

In the past years, social media has been an undeniable force for marketing in all sectors, and the e-commerce sector is not left out. Each day, users spend 2+ hours on social media, and about a quarter of users mainly use social media for shopping.

In 2024, social commerce is expected to become even bigger, giving brands more opportunities to find customers. Most social media platforms, including Instagram and Facebook, now allow users to make purchases without leaving the app. This way, the buying experience is seamless, and sales can increase.

As an e-commerce business, you should focus on creating a strong social media presence in 2024, and you can do this by getting a good content strategy, engaging with your audience, and taking advantage of social media advertising. Social media is a good place to invest your time and money as an e-commerce business owner.

AI Invasion

AI is here to stay, and so far, it has done more good than harm. As an e-commerce business owner, embracing AI will be good for your business. Generative AI, for one, can create various forms of media with just a simple prompt. This will be useful for both businesses and consumers.

Also, research has shown that AI-powered personalization will override traditional personalization. AI models enhance product recommendations and discovery features on e-commerce websites. This will help brands make better-informed decisions, thus improving the overall shopping experience.

As a brand, you should get acquainted with AI and be willing to invest in it in 2024. AI will be like a key, opening numerous doors with one click.

The Use of Augmented Reality for Shopping Decisions

AR technology has been very helpful in the sector of marketing in general. AR allows people to see digital things in real life. At its initial introduction, it was reserved for gamers. However, it is now finding applications in various industries. Over 32% of consumers currently use AR while shopping. This number has been predicted to increase greatly by 2024.

IKEA is one brand already leaning into this e-commerce trend. The IKEA App shows customers how their products will look in their own homes. This solves a huge problem and has opened the doors of AR wider.

Personalized Shopping Experiences

Brands that are able to provide a personalized experience for their customers will get the reward of loyalty and increased retention. Look at these statistics:

• 60% of consumers say they'll become repeat customers after a personalized shopping experience.
• 52% of consumers agree that personalization improves brand satisfaction.
• Consumers are 40% more likely to spend more than they originally intended to when their shopping experiences are personalized and tailored to their needs.
• 71% of customers want businesses to provide personalized experiences.

From these statistics, it is clear that personalized shopping is very important in this decade. By leveraging personalization techniques, businesses can offer tailored product recommendations, customized marketing campaigns, and personalized customer service.

Some of the data that you can use as a brand to improve personalized experience for shoppers are:

• Previously ordered products
• Purchase motivation
• Customer’s pain point.

Same-day Delivery

From 3 business days delivery to next-day delivery. Now, research has revealed that customers will expect same-day delivery in 2024. 50% of shoppers agree that same-day delivery makes them happier with a brand and more likely to continue purchasing from that brand. According to Statista, the same-day delivery market has been predicted to be worth $14.9 billion in 2024.

To prepare for this incoming invasion, e-commerce companies should have systems created to support same-day delivery.

Dark Social

The Dark Social trend is rising rapidly. This is an emerging trend where content is shared through private channels, making the metrics almost impossible to measure. This trend is set to amplify the power of personal referrals. Here, you will see the recommendation of products in a WhatsApp group or on an email thread.

To leverage Dark Social technology, here are some tips you can use as an e-commerce expert;

• Adopt tools capable of tracking these hidden content shares.
• Make your products irresistible for sharing on private channels.
• Form private groups or communities to keep the conversation going and gather valuable feedback.

As we conclude this exploration of the 10 e-commerce trends to look out for in 2024, one thing becomes abundantly clear: the future of online business is brimming with exciting potential. embrace the future with confidence, adaptability, and an innovative spirit. Remember that e-commerce is not just about transactions; it's about the experiences you create, the problems you solve, and the value you provide to your customers.