The eCommerce industry is dynamic and ever-changing. If you want to keep your business afloat and moving, you must be willing to evolve, upgrade and adapt to the ongoing changes. A vanilla eCommerce website or app with an outdated interface and features cannot do you much good. It is important to know the pulse of the market and act accordingly.
Do not worry. You do not have to sweat it as we have you covered. In this blog, we have listed the top eCommerce trends of 2024 that you should look out for. Get some inspirational ideas and give your eCommerce app a complete makeover. Know what is going on in the global online retail market and increase your awareness quotient.
In this blog
- Rise of mobile apps
- Hybrid commerce
- Social commerce
- Sustainable shopping
- Audio-visual content
- Advanced chatbots
- Priority customer support
- Flexible payment options
- Free and faster delivery
- Emphasis on data privacy
Top 10 trends that will influence eCommerce in 2024
From Glocalization to Voice Search and AI (Artificial Intelligence) to AR/VR (Augmented Reality/Virtual Reality) there were many developments in the eCommerce industry in the previous years. 2024 will follow suit as several new eCommerce trends will emerge this year as well. So, stay tuned and discover the list of top ten eCommerce trends:
Rise of mobile apps
Statistics show that almost everywhere around the world, mobile apps are driving more buyer traffic than websites. In the year 2019, Amazon saw 85 percent of mobile activity coming through its app while only 15 percent came from websites. This number is increasing as the number of app users is also increasing everyday. In fact, for most popular platforms, almost 90 percent of their buyers come from apps.
This year the numbers will see a new high as advancements like 5G technology, no-code app creator technology, and other developments will contribute to an increase in demand and supply of mobile apps in almost every sector. eCommerce businesses will especially be incomplete without apps. More businesses will adapt to mCommerce to grow and expand and reach their targeted customers.
The pandemic has changed consumer behavior and made more people aware of online buying and selling. Customers now prefer online shopping more than ever and want goods to be delivered to their doorstep without them having to step out. Even those who go out to shop occasionally, like the option of online purchase, payment and doorstep delivery being open for their favorite stores.
To cater to these demands of customers, more brick-and-mortar stores will go online. While eCommerce stores will be investing in apps, physical stores will invest in both websites and apps as they resort to the hybrid commerce (physical + digital) model. eCommerce customers will be able to enjoy the omnichannel experience and interact with a brand across various platforms like physical stores, website, app, social media pages, and more.
Social commerce is the practice of using social networks and digital media to facilitate transactions between a business and its customers and enable buying and selling through social platforms like Facebook, Instagram, etc. In most cases, customers find the products and brands through specific social media channels and can buy the products without leaving the platform.
The trend of social commerce will increase as more brands will go online and realize the full potential of social media channels as a business platform. In fact, many platforms like Facebook and Instagram already have special set of features and tools for such businesses that want to leverage their social audience base and turn them into loyal customers. Social media will play a vital role in transforming eCommerce as influencer marketing and digital commerce will increase manifold.
Green consumerism is the new trend in every realm across the globe. Customers think that it is important for brands to adopt sustainable methods and practices. In fact, over half of all consumers expect online delivery to be carbon neutral. 66 percent of global customers are ready to pay more for sustainable products. All these numbers indicate a rise in the trend of sustainable commerce.
Therefore, eCommerce businesses should adopt sustainable practices and take steps to ensure their products and packaging are environment-friendly. Brands should aim to create an environmentally conscious image that takes into account the general welfare of people, the environment, and the planet at large. Moreover, sustainable living and customer-to-customer reselling will also be on the rise in the coming days.
5G, AR/VR (Augmented Reality), AI (Artificial Intelligence), IoT (Internet of Things), and other technologies have paved the way for fast content streaming and real-time experiences. Customers are trying out products virtually before shopping, assessing them in 3D, and soaking in all the experience before hitting the ‘Buy’ button. Clearly, visualization has become important for this generation of shoppers.
Following the trend, more brands will start using video content to promote their products and interact with their customers. Brands will publish their own audio-visual content as well as inspire customers to add reviews with images and videos, publish user-generated content on various channels, and more. Offering such realistic experiences will help new and incoming customers take quick and informed decisions and convert faster.
Suggested read: How to build an AI app? Beginner’s guide to AI app development
Unlike widely held belief, chatbots are not just meant to answer generic customer queries on behalf of a business or its staff. When optimized and used effectively, chatbots can do much more than that. For instance, chatbots can engage potential customers, get them interested in a purchase, spike their interest in a product or service by giving relevant information, and eventually qualify more leads.
With a rise in AI tools like ChatGPT, use of chatbots in the eCommerce industry will reach a new level. Depending on the industry, the chat assistants will become shopping assistants, fashion experts, personal guides, and more. It will become important for businesses to implement a chat feature on their website and app and extend help and assistance to their customers instantly.
Priority customer support
Over the years, businesses have become more consumer centric as buyers are not willing to settle for less. As online customers have a myriad of options out there, grabbing their attention, retaining them, and earning their loyalty has become difficult. As a result, brands will have to rethink customer support and make it more personalized and effective.
Most of the online shoppers today are millennials and their successive generations. Thus, brands will have to emphasize on offering unmatched support to such customers who make their decisions impulsively and have a no-nonsense policy. Offering priority customer support, customizing offerings, expediting resolutions, and offering a seamless shopping and after-sales experience to customers will become imperative.
Flexible payment options
As online shopping and transactions amplify, businesses will have to become more flexible with their payment options. Depending upon the location and niche, brands will be compelled to offer multiple payment and checkout options to customers. For example, even those who go to shop from physical stores should get the option of paying online, while online buyers get the option to pay upon delivery.
Flexible payment methods and technologies like split and pay, buy now & pay later, payment through monthly installments (EMIs), cards, mobile wallets, digital currencies, and other variations will see a rise. It will be important for businesses to know what appeals to their target audience and integrate multiple payment gateways accordingly.
Free and faster delivery
As cross-border commerce will blur the geographical boundaries, customers will have more options than ever. In the course of enhancing customer-experiences and beating their competition, eCommerce businesses will have to ensure faster delivery alongside lucrative offers like free delivery, no-cost installation of products, zero cost EMIs, and more.
Other than delivery, focusing on other aspects of product checkout and shipping will also become significant. This will include guest browsing and faster checkout with reduced steps and auto form fill ins, delivery and package tracking, on-demand delivery of non-traditional products like alcohol and gas (petrol, diesel, etc.), and more. In a nutshell, the landscape of product ordering, shipping, and delivery will evolve and change to become better and more inclusive.
Emphasis on data privacy
Data is the king in the contemporary world. From curating a personalized news feed to suggesting relatable advertisements and products, data is used by app owners and businesses for their own advantage as well as for enhancing the experience of their customers. In recent years brands have started collecting, managing, and utilizing customer data, more than ever.
However, due to the interference of authorities and growing concerns about privacy among consumers, the process of data collection is likely to get stringent and more regulated in the coming years. For example, Apple and Google have specific guidelines when it comes to data collection of users through apps. Eventually, brands will have to align with the same and ensure consumer data privacy. Taking customer consent through forms, declaring privacy terms and conditions, etc., will become mandatory.
The trends listed above will influence the eCommerce industry and impact its overall expansion and growth. Depending upon your business niche, resources, and goals, you can make changes to your business to incorporate some of the trends listed above. If you already have an eCommerce website, you can go ahead and build a shopping app for it.
Do not worry. AppMySite’s WooCommerce mobile app builder simplifies app development for WooCommerce store owners and makes it a breeze. Even if you do not have a WooCommerce website, you can create e-commerce apps for any technology or platform with AppMySite. It is code-free, affordable, and super easy to use.
Launch your own Android and iOS eCommerce app with premium features and take the first step towards becoming a trend-setter. Unlock new opportunities for your business and tap into the mobile-friendly market for online buyers and sellers. Keep an open eye for the latest trends of the industry and beat your competitors to it.
Frequently Asked Questions
Why should I monitor eCommerce trends?
It is tough to gain the attention of contemporary customers and retain them as they get bored easily and are always looking for change and freshness. You should monitor eCommerce trends to keep your business up to date, stay in tune with the ongoing changes in the online retail and eCommerce industry, get an edge over your competitors, and keep your customers engaged and happy.
What are the major eCommerce trends in 2024
The major eCommerce trends show that more businesses will join the mobile commerce industry and create native apps or PWAs (Progressive Web Apps) for their online or hybrid (online and physical) store. Other than that, there will be a rise in demand for customer-centric products and services. Ease of shopping, customer convenience and sustainable living will be driving factors in setting and shaping the trend.
What is omnichannel eCommerce trend?
Omnichannel eCommerce, as the name suggests, is a strategy that aims towards offering a seamless shopping experience to customers irrespective of the channel or platform they are coming from. For instance, your customers should have the option of shopping from websites, mobile apps, social media platforms, etc. Moreover, they should get an equally frictionless and smooth shopping experience on all the platforms.
Will recession affect the eCommerce industry?
Several harbingers have indicated a decline of economy on the global level, and it cannot be denied that the shadow of recession is likely to grip the eCommerce industry like any other vertical. While leisure, hospitality and real estate are some of the industries that are most likely to get affected by recession, the direct impact on eCommerce will be fragmented. Ideally, the market for essential commodities will remain afloat whereas some sectors like jewelry and apparel may see a decline. However, this will be an opportunity for small businesses as they will be able to offer affordable alternatives to customers.
How can I create an eCommerce app?
If you are comfortable with the traditional methods of app development, hire a team of coders and other professionals and outsource app development. However, if you have no knowledge of coding and custom methods seem pricey and time-taking to you (which they are), then go with a no-code eCommerce mobile app builder like AppMySite. You can build your own feature-rich shopping app without coding and launch it on the Google Play and Apple App Stores.