As of 2024, there are approximately 4.8 million online stores using the Shopify platform. The rising success of ecommerce is reflected in the numbers — the global e-commerce market is projected to reach US$3,647.00 billion in 2024, according to research on Statista.
To be part of the “winning team” aka the most successful online stores, you need to catch up on the rising trends and implement them asap.
Here is a summary of the top 9 ecommerce trends for 2024, before we go into details:
- Mobile commerce
- Personalized shopping experience
- Artificial intelligence in ecommerce
- Omni channel marketing and analytics
- Voice commerce
- Social commerce
- Subscription-based ecommerce
- Influencer marketing in ecommerce
- Cross-border ecommerce
1.Mobile commerce
Due to smartphones and tablets, online shoppers now have the convenience of making purchases anytime, anywhere. Ecommerce sales have soared as a result, and businesses are taking notice of this shifting trend.
One of the key drivers behind the success of mobile commerce is the access to customer data.
With every purchase made through a mobile device, companies are able to gather valuable information about their customers’ preferences, behaviors, and buying patterns.
What can we do with it?
This data allows businesses to personalize their marketing strategies and provide tailored recommendations through their shop or email marketing, ultimately leading to repeat purchases and higher customer lifetime value.
Here is how to ensure your customers’ mobile experience is top-notch for internet users:
- Mobile friendliness: Ensure your website is mobile-optimized — has a responsive design that adapts to different screen sizes and orientations
- Clickable CTA: Make sure your call-to-action buttons are touch-friendly and easy to click
- Streamlined checkout process: Implement one-click or express checkout options like Shop Pay to make the mobile checkout process as quick and painless as possible
- Mobile app or PWA: Consider creating a mobile app or progressive web app (PWA) to provide a seamless and personalized mobile shopping experience for your customers
- Personalization: Know your mobile audience and personalize their experience with targeted offers, recommendations, and discounts
- Online visibility: Optimize your mobile website for easy and seamless navigation to improve your SEO ranking, reduce bounce rate, and maximize customer engagement for your online store.
2. Personalized shopping experiences
While surrounded by automation and AI, consumers are starting to seek personalized experiences and a human touch in every aspect of their lives. The same holds true when it comes to shopping, gone are the days of one-size-fits-all shopping.
With personalized shopping experiences, retailers utilize technology and data to create a tailored customer journey on the ecommerce site.
You need to understand each customer’s unique tastes, shopping habits, and previous purchases. By leveraging this information, retailers can provide relevant product recommendations, exclusive discounts, and personalized marketing messages that resonate with the customer and make them feel valuable.
How to make a personalized shopping experience in ecommerce stores:
- Product recommendations: Use customer data, browsing history, and purchase history to offer tailored product recommendations that boost customer retention
- Dynamic content: Customize the content on your website based on the customer’s location, browsing history, and preferences to create a more engaging experience for each individual
- Chatbots and AI-powered assistance: Implement smart chatbots that give answers to common queries and support customers 24/7.
- Loyalty program: Reward your “superfan” customers for their purchases and engagement, offering personalized rewards and incentives based on their preferences and shopping behavior.
3. AI in ecommerce
From personalized recommendations to advanced search capabilities, AI is taking over the online shopping experience with machine learning.
So far we mentioned personalized experiences and chatbots. One of the key ways AI is impacting ecommerce is through its ability to analyze vast amounts of data to provide customers with tailored recommendations.
By analyzing previous browsing and purchase history, AI algorithms can generate personalized recommendations faster than old tools or humans. AI-powered chatbots and virtual assistants also provide real-time assistance, guide them through their purchase journey, so you get purchases even when you sleep.
Another way AI is transforming ecommerce is through natural language processing and image recognition. These technologies enable customers to search for products using specific keywords or even images, significantly enhancing the ease and convenience of the shopping experience.
With AI’s ability to understand and interpret the context, customers can find exactly what they are looking for, even if they can’t accurately describe it in words.
Less frustrations for customers and more easy purchases.
Other top ecommerce trends that are “in progress”, but will for sure be a huge part of ecommerce innovations are:
- Augmented reality try-on experiences: There are already “3D” models that help customers visualize products in their own environment, but that will be taken to the next level with AI
- Virtual shopping assistants: As chatbots become more data and knowledge-driven, they will eventually become virtual shopping assistants with more precise information and recommendations.
- Predictive pricing based on customer behavior patterns: A potential trend enables retailers to adjust prices in real time based on various factors such as demand, competitor pricing, and inventory
4. Omnichannel marketing automation and analytics
Omnichannel marketing automation and analytics tools can help businesses optimize their marketing strategy, improve key metrics, and provide a personalized experience across every channel.
We talked with numerous ecommerce store owners, and they have a lot off their plates — from content creation to organic promotions, paid ads and analytics. They either try to be a one-man show and cover every aspect at least a bit, or they have multiple team members helping out in specific sectors.
Speaking to dozens of ecommerce store owners, their main pain points are:
- Struggling to create “creatives” (images, copy, videos) at scale and at a reasonable price
- Juggling between multiple platforms and data sources
- Not knowing how to optimize their budgets for different ad types and campaigns
- Not understanding data insights because they aren’t actionable items
What are the most popular marketing strategies for ecommerce brands?
- Organic social
- Google + Facebook ads
- Amazon ads
- TikTok ads
- Email/SMS campaigns
Omnichannel marketing would imply using one platform for all marketing needs. That is why ecommerce owners are more interested into using a platform where they can generate creatives, customize them and post directly to their social media platforms in one go.
Apart from automation that helps them cut down on time, money, and effort they spend on social media, a cherry on the top of the cake would be to connect all of their analytics and turn them into understandable, actionable advice.
5. Voice Commerce
In 2023 voice search technology has played a significant role in the growth of mobile commerce. With the introduction of virtual assistants like Siri, Google Assistant, and Alexa, consumers can now make purchases simply by speaking their requests.
This hands-free approach has made shopping more convenient than ever, attracting tech-savvy users to engage in mobile commerce while not looking at any screen.
For eCommerce brands, voice search opens up a lot of possibilities.
By integrating their platforms with voice assistants, they can offer personalized recommendations, answer customer queries, and even complete purchases all through voice commands. Marketing automation is a key component of voice commerce. By leveraging voice assistants, brands can automate personalized marketing messages, promotions, and discounts based on individual customer profiles.
6. Social Commerce
Social commerce is the fusion of social media and ecommerce, enabling brands to sell their products directly on social platforms, where people spend 151 minutes every day on average.
From Instagram to Facebook & TikTok, these platforms now offer built-in shopping features that allow users to make purchases without leaving the app, directly on their mobile devices.
So, how does a customer shop in the age of social commerce? It starts with discovering a product through a brand’s social media post. Users can then click on the post to learn more about the product and even make a purchase directly within the app. This eliminates the need for customers to visit a separate website, streamlining the shopping experience and reducing friction points.
However, we wouldn’t suggest “playing on someone else’s playground” because your store can easily be deleted. Therefore, our advice is to have a website and emailing list, where all your customers and leads are stored forever.
7. Subscription-Based Ecommerce
Subscription-based ecommerce has been gaining immense popularity in recent years, and for good reason. This business model offers a convenience and personalized shopping experience that traditional retail cannot match.
One of the key advantages of subscription-based ecommerce is the predictability it offers both the customer and the brand. Customers know exactly what to expect each month, eliminating the need for constant browsing and decision-making.
For ecommerce brands, this means a steady stream of revenue and the ability to plan inventory and marketing strategies more effectively with their subscription service.
Plus, by analyzing data from each customer’s subscription, ecommerce brands can gain valuable insights into what products are most popular, enabling them to curate personalized offerings for their subscribers.
8. Influencer marketing in ecommerce
By partnering with influencers, ecommerce brands can tap into their large and loyal fan base, increasing their brand visibility and driving organic traffic to their online stores.
One of the key benefits of influencer marketing in ecommerce is its ability to reach a highly targeted audience. Influencers have a niche following that trust their recommendations and opinions. This makes them an ideal channel for ecommerce brands to showcase their products or services to a specific group of potential customers.
After carefully selecting influencers whose audience aligns with their target market, ecommerce businesses can not only increase brand awareness but also see a higher conversion rate and ROI.
Ecommerce businesses can leverage their creativity and expertise to create content that showcases their products or services in a genuine way.
This not only helps in building trust with the audience but also establishes a human connection, making the brand more relatable and appealing — two buzzwords for ecommerce sites in 2024.
Furthermore, influencer marketing in ecommerce can also help in driving traffic to online stores. Through sponsored posts, giveaways, or affiliate programs, influencers can encourage their followers to visit the ecommerce brand’s website or make a purchase. This not only increases website traffic but also provides an opportunity for ecommerce brands to convert these visitors into loyal customers.
9. Cross-border ecommerce
The ability to tap into international markets means a wider reach and potential for increased revenue, and now it is easier than ever.
By expanding their offerings to cater to global customers, these brands can attract a diverse range of consumers who are looking to shop online. This not only allows them to grow their customer base but also helps establish their presence in different countries, ultimately boosting their brand recognition.
However, ecommerce owners need to navigate various challenges, such as language barriers, differences in payment methods, and longer shipping times. To address these concerns, ecommerce brands must ensure that their online stores are user-friendly with multilingual options and clear instructions on payment and shipping.
They also need to invest in reliable shipping and logistics solutions to offer reasonable delivery times and build trust with their customers.
Here is a checklist before you start selling globally:
- The right market: Research and select the right market for your business, considering factors such as language, culture, and regulations
- Local regulations: Understand the local regulations and laws that apply to your business, including taxes, customs, and shipping regulations
- E-commerce Platform: Make sure your e-commerce platform supports cross-border transactions, such as Shopify, Magento, or WooCommerce
- Localized payment options: Offer localized payment options that match the preferences of customers in different regions
- Multilingual support: Provide multilingual customer support, especially in the areas of FAQs, pricing, order page, and help center.
- Local Search Engines: Optimize your website for local search engines to improve visibility and reach in different regions, your current SEO tactics may not work. Even better, partner with local influencers to step into the market easily.
- Local service providers: Partner with local service providers, such as logistics and shipping companies, to ensure smooth and efficient cross-border operations
Conclusion
It can be challenging for an ecommerce business to balance between trying new tools and spending wisely to keep growing their profit.
A tool that perfectly bridges the gap between innovation and optimization is WorkMagic. With the latest analytics feature, you can easily monitor, analyze and grow based on the results of your current campaigns.