Mastering 2024’s eCommerce Trends: A Comprehensive Guide

In today’s fast-paced digital era, staying on top of the latest trends is essential for success. The exponential growth of technology has not only reshaped consumer behavior but has also heightened customer expectations.

As we embark on another year, organizations confront the continuous challenge of adapting to these evolving demands and enhancing the customer experience to secure a competitive edge in the market.

Here are some of the emerging eCommerce trends to explore in 2024:

1. Social Commerce

Social media platforms have become more than a tool for promotion or connecting with friends; they have evolved into powerful eCommerce channels.

This year, social commerce is expected to boom, as platforms like Instagram and TikTok continually enhance their features to integrate shopping experiences. Such channels capitalize on the visual nature of their content, allowing users to discover and purchase products within the social environment.

One noteworthy development influencing social commerce is the recent collaboration between Meta and Amazon. This partnership introduces a new in-app shopping feature that allows consumers to shop via Amazon’s Facebook and Instagram ads.

How to leverage the social commerce sphere:

• Find the channels where your customers are.
• Create engaging content that resonates with your audience.
• Incorporate user-generated content (UGC) into your digital strategy.
• Tap into social commerce features like shoppable images and videos, embedded chat capabilities, etc.

2. Hyper-personalization with AI

2023 witnessed a transformation in eCommerce personalization, thanks to the strides in artificial intelligence (AI), as exemplified by OpenAI’s ChatGPT.

The launch of ChatGPT shed light on AI as one of the emerging commerce trends and brought significant technological investments, influencing organizations of all sizes to embrace the technology.

According to the Globant’s Tech Trends report, AI’s role in crafting unique customer experiences would still be the focus of companies across many industries. The report also emphasized that beyond 2024, organizations will start to see a return on their efforts to integrate the technology.

How to maximize the potential of artificial intelligence:

• Harness the AI’s ability to sift through and analyze datasets for more insightful decisions.
• Understand the potential regulatory implications associated with the use of the technology.
• Use inclusive AI tools to cater to a wide range of individuals, regardless of their background or abilities.
• Leverage action-enabled AI products to enhance the collective ability to think, create, and achieve goals.

3. Omnichannel Presence

Establishing an omnichannel presence remains critical in 2024. Consumer behavior has become increasingly sophisticated, with individuals expecting seamless experiences that transcend traditional boundaries.

An omnichannel strategy is not about choosing between brick-and-mortar or online but creating a synergy between the two for a seamless experience a.k.a. phygital experience.

For instance, customers might use mobile apps to scan products in-store, compare prices, read reviews and make actual purchases, or browse online and pick up in-store.

Simply put, integrating online and offline channels is a prerequisite for businesses aiming to thrive in this competitive environment. From physical stores to eCommerce websites, mobile apps, social media platforms, and more, each channel must provide a unified and consistent customer experience.

How to deliver a seamless, integrated customer journey:

• Ensure a seamless integration with social media platforms to enhance product discovery and shopping experiences.
• Optimize mobile accessibility, considering features like voice commands, image recognition, and a simple checkout process.
• Adopt emerging technologies (i.e., virtual try-ons, augmented reality, digital displays, etc.) to boost customer engagement.
• Implement systems that bridge the gap between digital and physical shopping, including click-and-collect, in-store beacons, QR codes, loyalty programs, and more.

4. Sustainable & Ethical Commerce

Consumers become increasingly aware of the impact their choices have on the environment. This shift drives a significant commerce trend where ‘green’ is a defining theme and a factor influencing purchase decisions.

Businesses that demonstrate sustainable practices, from eco-friendly packaging to reduced carbon footprints, waste management, and more, are poised to win the hearts and loyalty of eco-conscious consumers.

The research published in the Harvard Business Review found that sustainability and corporate responsibility are critical drivers of intent, especially for Gen Z and Millennial customers. These generations are more likely to spend more money with brands that care about their impact on people and the planet.

How to meet customers’ demand for sustainability:

• Promote transparency in supply chains and labor practices.
• Adopt eco-friendly packaging solutions for a greener impact.
• Leverage technology and data analytics to optimize delivery routes, reduce carbon emissions, and minimize waste.

5. Immersive Experiences

Augmented Reality (AR) and Virtual Reality (VR) are long known for delivering immersive experiences. These technologies make online shopping more interactive, giving consumers a try-before-you-buy experience from the comfort of their homes.

While the introduction of AR/VR technology in commerce revolutionized how businesses interact with customers, the metaverse brought the immersive virtual reality experience to the next level.

Combining AR, VR, and other various technologies, the metaverse allows shoppers to engage with brands or other users or interact with products they are likely to purchase in a virtual environment.

How to deliver a compelling immersive experience:

• Create virtual storefronts or pop-up shops within the metaverse.
• Host virtual events like fashion shows, product demos, or Q&A sessions.
• Introduce gamified elements, including virtual scavenger hunts and challenges.
• Customize virtual products based on customer preferences (i.e., colors, designs, features, etc.).

Embrace the New Wave of eCommerce!

In the dynamic landscape of eCommerce, where trends are ever-evolving, businesses must stay abreast of the latest developments shaping online commerce.

Globant Commerce Studio stands as your partner in this fast-paced digital commerce era. We are dedicated to crafting innovative and strategic solutions tailored to the unique requirements of businesses.

Whether you need help facilitating end-to-end digital commerce implementations or transitioning existing systems to new platforms, our team would be pleased to help.

Discover how we can support your goals at www.globant.com/studio/commerce or book a consultation today to learn more!