Ecommerce trends 2024 to look out for
As we navigate the ecommerce and retail terrain of 2024, the following developments we’ve identified, based on our testing and trialing of new technologies at The Ecommerce Tribe, are not mere trends but the pillars of a new era.
Ecommerce Trends 2024
AI in Ecommerce
The most significant change and impact in 2023 came from the utilisation of AI. We’re seeing this being implemented in and propelling every aspect of retail. This year, retailers that used AI achieved, on average, 10 per cent growth in revenue and a 15 per cent reduction in time spent on processes now automated.
In 2024, AI’s impact will stretch from predictive analytics that tailor shopping experiences to advanced chatbots that provide personalised customer service. AI is refining supply chains, customising marketing and crafting virtual assistants that manage customer relationships with near-human experiences. 2024 is the year of AI.
The search that’s saying something in Ecommerce
In 2024, it’s conceivable that the search landscape could be significantly influenced by AI-driven platforms such as ChatGPT, Claude.ai and Bard. These language models offer a conversational interface that can understand and respond to complex queries, making them preferable for specific searches. For instance, when searching for products, users might use these AI assistants for a more interactive and personalised experience. Instead of sifting through pages of search results, a user could simply ask the AI for a product recommendation based on specific criteria such as budget and brand preferences. The AI could then ask follow-up questions to narrow down the options and present the most relevant products, complete with comparisons, reviews, and even buying options. This doesn’t necessarily mean that traditional search engines like Google will become obsolete. They may coexist, with users choosing the tool that best fits their immediate need – perhaps Google for broad, exploratory searches and conversational AIs for targeted inquiries and transactions.
Interactive retail products: touch, feel, engage
The emergence of high-definition 3D visualisations has revolutionised product interaction online. In 2024, we’ll witness tactile engagement with products via digital platforms. Using AR/VR, haptics, and 3D imagery, customers will be able to touch, rotate, and scrutinise products virtually so they can ‘understand’ them inside and out. Brands using this technology are already attracting increased customer engagement with reduced buying hesitation.
TikTok Shop: social commerce phenomenon
TikTok has transformed from a platform of trends potentially to a retail powerhouse. TikTok Shop integrates social media with ecommerce, enabling users to buy products directly through the app, unlike other platforms that have tried to achieve such a process. It’s shoppable live streams and product showcases connect entertainment with instant buying. The platform’s intuitive design and algorithm ensure that products find their way to the right audiences, revolutionising impulse buying and personalised shopping experiences.
If you want to know the other five ecommerce trends in 2024, read the full article (page 52) here or book a quick call with me.
BIO
Kelly Slessor, is an Ecommerce Coach and a digital marketing expert. Passionate about retail, hospitality and retail service providers. As the founder and CEO of Shop You, an AI powered personalised virtual shopping mall she has spent 20 years building retail technology that responds to customer needs, drives conversions and increases revenue. Over the past year she has worked with over 1000 retailers and hospitality providers. If you want discover more about digital growth and optimisation, work with me.
