We have all heard of the saying ‘Change is the only constant’, and it holds particularly true for the e-commerce industry. With the freedom to shop anytime, anywhere, the competition for consumer attention has intensified. That is why brands must transcend conventional boundaries to captivate their audience. One way to do so is by keeping up with the top e-commerce trends. By following these trends, your brand can meet customer expectations before others catch on.
So, what's trending right now? In this blog, we will take a look into the latest and what's about to come in e-commerce in 2024.
Here are the top ecommerce trends that ecommerce businesses should know about:
According to recent statistics, a substantial 47% of social media users now feel comfortable making purchases through social apps.
This signifies a significant shift in consumer behaviour, highlighting the increasing trust people place in the security and convenience of social commerce platforms.
In 2024, this trend is set to intensify as social media platforms continue to enhance their shopping features. With more users feeling confident about the safety of transactions on these platforms, e-commerce businesses can capitalize on this growing trust by strategically leveraging social commerce. This means not only establishing a strong presence on social media but also optimizing the purchasing process within these platforms to cater to the preferences of the ever-growing audience.
Did you know that around 75% of consumers actually prefer using their mobile devices for online shopping?
It just goes to show how dominant smartphones have become in the modern shopping journey. In contrast, only about 15% prefer desktops, and a mere 6% opt for tablets.
This is why businesses need to prioritize a mobile-first strategy to keep up with their audience's evolving demands. It's not just a buzzword anymore; it's a complete strategic overhaul of how businesses engage with their customers. Simply having a responsive design is no longer enough. The entire shopping experience needs to be intricately tailored to suit the nuances of mobile platforms.
Consumer expectations continue to shape the industry. What started with two-day delivery has now evolved into the latest consumer demand: same-day or next-day delivery. The ability to receive purchases on the same day has become a game-changer, influencing nearly half of online shoppers who express that same-day or next-day delivery makes them more inclined to shop online.
This growing trend is not just a passing phase; it's a major shift that is expected to contribute to a same-day delivery market valued at a whopping $14.9 billion by 2024, as projected by Statista. As consumers get used to the convenience of speedy delivery, businesses have to adapt to meet this expectation and stay competitive.
By 2027, the same-day delivery market is forecasted to reach 14.9 billion U.S. dollars.
Augmented reality (AR) is revolutionizing online shopping decisions. No longer confined to gaming, AR enables consumers to interact virtually with products in their real-world surroundings. Take IKEA, for example. IKEA's innovative IKEA Place app exemplifies this trend. It lets customers virtually place products in their homes, resolving pre-purchase uncertainties.
Similarly, Lenskart, a leading eyewear brand, utilizes AR to enhance the eyeglass shopping experience. Their Virtual Try-On feature allows users to see how different eyeglass frames look on their faces before making a purchase. This not only reduces the uncertainty associated with online eyewear shopping but also adds a fun and interactive element to the process.
Moreover, cosmetic giants like Sephora and L'Oréal have developed AR-powered apps that enable users to virtually try on different makeup products. Customers can see how different shades of lipstick, eyeshadow, and other cosmetics look on their own faces in real-time, helping them make more informed purchasing decisions.
AR mitigates hesitations by allowing customers to visualize products in their personal spaces, fostering confidence and enhancing the overall shopping experience. As we advance into 2024, we expect AR to make a significant impact on e-commerce, offering immersive and personalized interactions for consumers.
As the landscape of customer communication evolves, the surge in direct messages (DMs) for customer service is an undeniable trend.
A considerable 19% of consumers have turned to DMs in the past three months, marking a 45% increase from 2022.
The shift towards DMs reflects the changing preferences of consumers, not only on traditional platforms like Facebook marketplace but also on popular social media platforms like Instagram. This change underscores the need for e-commerce businesses to adapt their customer service strategies to meet customers where they are. Ignoring messages or experiencing delays in responding on channels such as Instagram or Twitter could lead to lost sales and decreased customer satisfaction.
For businesses operating on a larger scale, the implementation of customer relationship management (CRM) software becomes crucial. This technology can efficiently manage multi-channel interactions, ensuring that no customer query goes unnoticed. Additionally, it's imperative to train customer service teams to handle inquiries professionally and promptly on social media platforms. This approach not only retains existing customers but also demonstrates a commitment to meeting evolving customer service expectations.
An engaging trend set to take centre stage in 2024 is Livestream Shopping. This innovative approach combines the excitement of live video content with the convenience of online shopping. Social media platforms and e-commerce sites are increasingly integrating Livestream events, allowing brands to showcase products in real time and connect directly with their audience.
Livestream Shopping offers a unique opportunity for businesses to foster a sense of authenticity and connection. Influencers and brand ambassadors can interact with viewers, answer questions, and provide instant insights into featured products. Consumers, in turn, benefit from a personalised and interactive shopping experience without leaving the comfort of their homes.
This trend is gaining momentum as major players in the e-commerce landscape invest in livestream shopping features.
Captivating consumers is crucial. High-quality product videos have emerged as a game-changer, offering a dynamic and immersive experience.
A well-crafted video addressing your product’s design and functionality can be one of the most effective ways to sell it. Such videos have the ability to appeal to consumers' emotions, delivering a persuasive message that text alone might struggle to convey.
To create compelling product videos:
As we enter 2024, integrating product videos into your strategy enhances the shopping experience and boosts conversions.
With the growing awareness of environmental issues, sustainable shopping is expected to become a major trend in 2024. People are now thinking more about the impact of their purchases on the planet, which is driving the demand for eco-friendly products. In response, e-commerce businesses are stepping up by adopting sustainable practices, offering green alternatives, and openly showing their commitment to the environment.
It's not just a marketing tactic anymore – embracing sustainability is a must to connect with today's conscious consumers. From using eco-friendly packaging to sourcing materials ethically, brands that prioritize sustainability will gain a competitive edge and build lasting customer loyalty.
As we navigate through 2024, successful e-commerce strategies will hinge on embracing these trends, creating authentic connections with consumers, and staying ahead of the curve in a landscape that is constantly evolving. The future of e-commerce is not just transactional; it's about creating meaningful and sustainable experiences for a diverse and discerning consumer base.