10 eCommerce Trends You Should Know

Since 2020, the retail world has never been the same as before. The confinements and the need to continue producing boosted e-commerce in such a way that today, it rises as an industry in its own right.

E-commerce habits are already on the table; however, to continue to capitalize on a future where online sales are expected to grow from $5 trillion to $8 trillion by 2026, we have compiled 10 e-commerce trends you should know and follow in 2024.

1. Thinking and optimizing the virtual shopping experience through smartphones will be essential in 2024.

According to Hootsuite's latest report, as of July 2022, 66.9% had a cell phone. That is more than 5 billion people who also have access to the Internet from these devices. This figure represents an increase of more than 150 million users compared to 2021 who surf the web from their smartphones daily.

However, phones are no longer for making calls but for shopping. By 2022, smartphones have overtaken even computers as the most widely used devices for surfing the Internet. That fact also complements Statista's most recent study, which claims that 61% of online purchases are made on cell phones.

With this in mind, and adding that searching for information related to brands and products is the seventh most performed activity on the Internet, above even listening to music, in 2024, it is a must to think about and optimize the virtual shopping experience through smartphones. 

2. Offer a wider variety of payment methods to suit your customers' preferences.

We know your website is looking for conversions. That’s why providing a wider variety of payment methods is crucial when ensuring online sales. 

According to Statista, about 50% of global transactions made over the Internet were made through digital and mobile wallets. Therefore, offering alternative payment methods, such as cryptocurrencies, bank transfers, the inclusion of payment gateways, or the enrollment of credit or debit cards, will make your customers feel more confident when making their final purchase decision. The reason? They will see that your brand considers their payment preferences.

3. Increase the use of virtual assistants to streamline customer service.

If you already have at least one virtual platform to showcase your brand and generate interactions or sales, you will know that those who have bought from you or have approached you have shared doubts. 

Considering the above scenario and according to Forbes, one of the trends of 2024 will be precisely implementing chatbots to streamline customer service. In addition, virtual assistants save you the time you can invest in other more urgent tasks for your brand.

Identify the most common questions from your customers to generate a handy automated route that provides relevant answers.

4. Use data by AI to offer personalized discounts and promotions to tailor your business to your customers.

According to a Statista survey of the US consumer public in June 2022, 98% of participants said that personalized shopping experiences did influence their final decision. 

If you have a marketing strategy and you usually sell online, you probably have data on your customers and their preferred products or services; in 2024, go beyond the insights and use that information to offer your audience discounts, recommendations, and personalized promotions. 

This way, you will create more valuable relationships among your community that will strengthen your image in front of the public and benefit your future sales thanks to the trust generated.

5. Implementing and driving sustainable practices in your brand will be vital in 2024.

The new generations are becoming increasingly aware of their purchases and brands' environmental and social impact.

The previous picture is evidenced by a study that shows since the pandemic, at least 52% of consumers will value sustainable practices more because of the relationship they make between nature and their social and economic realities.

For this reason, making visible brand processes through your platforms that respect human or environmental dignity will be a definite plus in 2024 to generate trust and loyalty among your consumers.

6. Increase the use of video content to reach more potential customers.

One of the trends related to e-commerce that seems irreversible for 2024 is the use of video as the primary format to attract the attention of potential customers through digital platforms and social media.

According to HubSpot's most recent report, in 2022, video has not only boosted the number of leads for 83% of the marketers surveyed, but 74% of them have assured that these contents have represented a better return on investment than when using another format.

For that reason, with platforms like TikTok leading the way in capturing users' attention, video is a format you must exploit in 2024.

7. Sticking to your brand promises when establishing delivery protocols: a priority in 2024.

We live in a world of immediate responses, and companies like Amazon have set customer service standards. That's why you need to set realistic and prudent deadlines when designing your product delivery system. 

Do not promise a time limit that you can’t meet or in which the product will suffer the consequences of urgency because, according to some figures for 93% of customers, transparency in their orders "is essential" to ensure an optimal shopping experience.

Tip: instead of running with deliveries that become impossible to fulfill, you can design a system where your buyer can track his purchase according to the deadlines of your brand.

8. Subscriptions: a trend that will gain traction in 2024.

Do you remember how many services you subscribed to about five years ago? You probably didn't even have half of the memberships you have today, considering the number of platforms that burst onto the scene since the end of 2019 and to which you are subscribed now.

Well, this model that guarantees lasting customers over time and alleviates the worry of acquiring more and more new buyers will become more prevalent in 2024 within e-commerce.

That is demonstrated by figures showing that those who shop online at least once a month are more likely to cancel a subscription. In addition, today, at least 25% of online purchases are made through these plans.

Consider whether this model fits your business and look for ways to optimize your service experience for those willing to pay a monthly fee for what your brand offers. 

9. Use augmented and virtual reality to personalize the shopping experience on your website.

One of the significant challenges of e-commerce is to match specific experiences that occur in real life. For example, how do you try a piece of clothing online to know if it fits you? Well, on the Internet, it’s possible thanks to augmented or virtual reality.

Solving doubts in real-time as the dimensions of a product increase confidence in your products and encourage the potential customer to make a favorable purchase decision. 

According to Google’s data, shoppers engage with 3D images 50% more than with static images. Therefore, use AR/VR technology, so your audience can visualize your products in 3D; this way, you will not only minimize the virtual barrier but also prepare for a future where the Metaverse will mix the Internet with reality in a single experience.

10. Optimize your brand keywords and use voice search to your advantage.

Data collected by Thinking with Google and published by Forbes shows that about 72% of smart speaker owners use these devices daily. 

Considering that since 2018 the number of users of these speakers has doubled to 91 million in the US alone by 2021, using voice technology can be of great advantage to your brand.

Voice recognition technology can facilitate the shopping experience for your customers, so what do you need to do? Research how a user of these devices could search for your services through them. 

Consider, for example, that a voice search tends to have more words than a text search, so think in a conversational language when you want to take advantage of this technology that will take force in 2024. This way, your audience can start including your brand in their shopping lists through voice search.

Conclusions

• Smartphones are no longer used for making calls; now, the most common activity is online shopping. Optimize your website's mobile experience to make shopping easier for your customers.
• Keep in mind that 50% of online transactions in the world are made through digital wallets. Therefore, adapt and expand your payment methods and avoid losing buyers due to this incompatibility.
• Remember to use AI to personalize the experience of your web visitors. 98% of buyers consider that targeted strategies according to the user's profile are vital for the purchase decision. Remember: one of the keys is to keep analyzing your customers' behavior.

Summary

1. Thinking and optimizing the virtual shopping experience through smartphones will be essential in 2024.
2. Offer a wider variety of payment methods to suit your customers' preferences.
3. Increase the use of virtual assistants to streamline customer service.
4. Use data by AI to offer personalized discounts and promotions to tailor your business to your customers.
5. Implementing and driving sustainable practices in your brand will be vital in 2024.
6. Increase the use of video content to reach more potential customers.
7. Sticking to your brand promises when establishing delivery protocols: a priority in 2024.
8. Subscriptions: a trend that will gain traction in 2024.
9. Use augmented and virtual reality to personalize the shopping experience on your website. 
10. Optimize your brand keywords and use voice search to your advantage.