What You Need to Know About E-commerce Trends in 2024 to Sell More?

The global eCommerce industry has changed a lot in the past, but that’s not enough. With the introduction of technologies like AI and ML, things are going to take another turn soon… at least, that’s what the professionals claim. Business owners dealing in online shopping and retail services must keep up with the latest eCommerce trends to stay in the race and give a boost to their sales figures even in 2024. So what are some amazing trends that you need to follow in 2024? Let’s have a look at them to stay ahead in the competitive world of online retail.

AI will find its way – It is a fact that generative Artificial Intelligence (AI) has been in talk of the town in 2023 and previous years, but the technology has changed a lot with the launch of ChatGPT. From managing the supply chain to customizing marketing strategies and managing the overall customer experiences, AI is likely to take charge of various business operations and turn out to be one of the bigger drivers for retailers and brands selling online. Many global brands have already declared to make use of AI and ML to increase profitability and efficiencies. Remember that AI is not just useful for creating content online, it can do anything, almost.

Hybrid Commerce – Not many people know, but many brands are now planning to go “Hybrid” soon. Wondering what’s hybrid in e-commerce? It is a blend of online channels and physical retail experiences. This is one of the most amazing trends that many people find useful these days as this provides them with a seamless experience, encouraging hybrid commerce or omnichannel selling. Remember that not every consumer is comfortable making purchases by seeing images online, some of them like to experience things physically. For the e-commerce industry, a simple way to implement this facility is to allow a click-and-collect feature. BOPIS (buy online, pick up in-store) is a common service that allows customers to check out online and collect their purchases at the store or pickup station. Leading retailers like Walmart, Target, and IKEA are already offering this facility to their consumers.

Augmented and Virtual Reality – By now, you already know that advanced technologies are going to dominate the e-commerce industry in 2024. Two more technologies that will make their way to the online shopping world to make shopping easier for customers are Augmented Reality and Virtual Reality. According to statistics, the market size of AR and VR has been growing at a ten-year CAGR of 41.1%. By year 2031, it is expected to reach $856.2 billion. The best part about AR is that it integrates the real, physical world with computer-generated visuals, sound, or other stimuli. At the same time, VR puts the user in a seemingly real computer-generated environment using a special headset. There are many leading brands that are already adopting these technologies to offer a more immersive shopping experience.

Customer Relationship Management – CRM or Customer relationship management is an advanced way to help eCommerce businesses manage customer interaction with the help of tools and strategies. For an ecommerce business to ensure customers keep visiting the website 92% of customers are likely to abandon a business after two or three negative interactions. With the help of a custom CRM strategy, it becomes businesses understand the customers’ needs and behavior better, resulting in strong relationships and a loyal customer base. According to professionals in the field, CRM has been in trend in 2023 and is likely to stay in coming years as well with an expected market size of $128 billion by 2028.

Customer Support as a Priority – When it comes to giving a boost to your e-commerce sales figures, customer support cannot be underestimated. After all, most customers prefer to buy from businesses that offer reliable and timely customer support before and after making the purchase.

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