Global e-commerce trends

As we move towards 2024, the e-commerce has witnessed significant changes and growth. The sales channels and trends in this ever-evolving landscape are set to reshape the way consumers shop and businesses operate.

We witness new products being launched every day, customers being more conscious and social selling reaching new heights.

Below, see some trends for this year:

1. Mobile commerceOne of the most prominent trends expected in 2024 is the dominance of mobile commerce. Undoubtedly, mobile devices have become an integral part of our lives, and their influence on the e-commerce industry is going to grow . According to Statista′s Market Insights, sales for mobile e-commerce reached $2.2 trillion in 2023 and now make up 60% of all e-commerce around the world. Customers will increasingly rely on their smartphones and tablets to browse, research, and make purchases, making it crucial for businesses to optimize their digital platforms for mobile use. Platforms such as TikTok Shop, Amazon and Live (Instagram, Twitch) offer seamless shopping experience. With one click you can make a purchase without leaving the platform. Brands that fail to adapt to this trend may find themselves lagging behind their competitors in terms of sales and customer engagement. . The convenience and seamless experience offered by social commerce will attract a significant portion of online shoppers, making it an essential channel for businesses to explore. Personalized product recommendations, social proof, and influencer marketing will play a crucial role in driving sales through social media platforms.
2. MarketplacesIn addition to mobile and social commerce, marketplaces will continue to be a vital sales channel in 2024. E-commerce giants like Alibaba, @Amazon, eBay, Zalando will retain their dominance, attracting millions of customers worldwide. Smaller businesses can leverage these marketplaces to reach a wider audience and tap into their existing customer base. Marketplaces provide access to vast product catalogues, seamless logistics support, and customer trust, making them an attractive option for businesses looking to expand their reach.
3. New technologiesAs the e-commerce landscape evolves, it's crucial to keep an eye on emerging technologies that will shape the industry in 2024. Augmented reality (AR) and virtual reality (VR) that have their roots in gaming, will revolutionize the online shopping experience, allowing customers to visualize products in real-world settings. This technology will bridge the gap between the brick-and-mortar shopping experience and online retail, providing customers with a more immersive and engaging experience. Furthermore, artificial intelligence (AI) and machine learning will play a crucial role in ecommerce sales channels. AI-powered chatbots will provide personalized customer support, improving the overall shopping experience. Machine learning algorithms will analyze customer data to provide tailored product recommendations, enabling businesses to reach the right customers with the right products at the right time.

In conclusion, the e-commerce industry is facing exciting developments and brands should make sure they are on top of the game. Mobile commerce, social commerce, and marketplaces will dominate the sales channels, while technologies like AR, VR, AI, and machine learning will reshape the online shopping experience.

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