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Quick Summary
The future of eCommerce looks bright, attracting a wave of new entrepreneurs. Statista forecasts a $6.54 trillion market by 2022, up from $3.53 trillion in 2019. As customer shopping habits evolve, eCommerce businesses adapt with new trends to attract customers and outpace competitors. Join us as we delve into the latest trends for 2024.
Top E-Commerce Trends for 2024
Are you ready? I’ll be exploring the prominent e-commerce industry trends for 2024 in the following sections, helping you stay ahead of the curve. I’ll detail their importance and suggest practical approaches for implementation in your business.
1. Personalized Shopping Experiences
Personalization in marketing and customer experiences has been gaining traction for a while now. With the advancements in technology, we’re on the verge of seeing personalized experiences on a large scale. In 2024, get ready for a surge in personalized marketing efforts, including targeted campaigns and tailored online shopping experiences. This shift means that businesses will need to gather and analyze a lot of customer data, but the benefits can be huge. Think customized product suggestions and personalized emails, which can greatly boost engagement and sales. The key is to focus on creating personalized experiences across all touchpoints, whether online or in-store, to enhance the journey for both current and potential customers.
2. The Key to Online Retail Success in 2024: Seamless Omnichannel
As consumers returned to in-person shopping in 2024, e-commerce continued to flourish. However, it wasn’t just about online stores anymore. Shoppers now engage with multiple channels, from social media to brick-and-mortar locations, expecting a seamless experience throughout their journey. This shift highlights the importance of effortless research, comparison, and support across all touchpoints.
3. Voice Commerce Will Grow:
Amazon Echo and Google Home have taken the lead in the voice assistant devices. They come with Alexa and Google Assistant respectively and enable users to do everything from waking them up to sing songs, control smart devices, tell jokes and buy products online. As per one report by Loup Ventures, 75% of the US households will have smart speakers by 2025. Another Wordstream report suggests that the sales revenue from Voice Commerce will reach $40 billion by the year 2022.
The reason Voice Commerce will rise is the convenience and accuracy it provides. Moreover, Amazon and Google both are incorporating regional languages into their smart virtual assistant to ease the tasks. Thus, it becomes increasingly important for you to optimize your store for voice searches.
What further you can do is,
- Optimize content in a way that increases the chances of it appearing in Voice Search.
- Offer voice-based navigation.
- Add a new skill on Google and Alexa assistants.
- Make sure that products can be purchased with a simple flow via voice commands.
4. AR and VR make e-commerce immersive
With Augmented Reality (AR), customers can virtually inspect products in their own surroundings, whether at home or in the office. This technology, popularized by games like Pokémon Go, is set to revolutionize the shopping experience, with over 120,000 stores expected to integrate AR technology according to ABI Research.
5. Shopping Personalization with AI:
91% of the customers shop from brands that remember, recognize, and offer personalized recommendations. And artificial intelligence will play a key role in personalizing the shopping experience of your customers. With AI becoming more smart and strong, businesses can send relevant offers and product suggestions to create a personalized shopping environment.
For that, AI will use the past browsing & purchase history, shopping behavior, interests, and other things to offer personalized guidance. By storing and remembering the customer information (with their consent) to offer a personalized shopping experience, you can form a long-lasting relationship with them.
Other than personalizing the shopping, AI can help you automate your marketing and streamline customer support with Chatbots. So, start using smart AI tools to not only personalize the shopping but also for improving your customer service & automate marketing as well.
Conclusion
With the end of 2020 and the advent of 2021, eCommerce businesses have new opportunities to seize. To help brands with that, we have come up with future trends for eCommerce businesses to look out for in 2021. So, eCommerce businesses must prepare themselves to adopt these new trends ASAP. Social Commerce, Voice Commerce, omnichannel shopping, personalization with AI, enhancing shopping with AR, and product sustainability, are few trends likely to dominate 2021 and beyond.
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