Top Ecommerce Trends for 2024Jan 31, 2024
Today, having eye-catching and high-quality products is no longer the only requirement for ecommerce success. While having great products goes without saying, owning an online store now requires more than that if you want to continue moving your inventory. Due to the fast growth and resulting saturation of digital marketplaces, ecommerce businesses need to stand out from the crowd.
The key to standing out is to understand industry trends and consumer behavior. New trends emerge every year, resulting in a very different landscape today compared to just a few years ago.
Below are eight of the top ecommerce trends you’ll want to embrace to help your online business grow.
Short-Form Video Promotions
Short-form videos, on TikTok, Instagram Reels, and YouTube Shorts, have become vital components for promoting products and advertising brands. These videos captivate audiences with quick, compelling, and easily digestible content — making them highly effective for capturing consumer attention. In fact, data shows that 15% of product discoveries today start with TikTok videos.
Capitalize on this trend by creating an official account for your online store and posting entertaining short videos. Search for and use trending music or audio clips, hashtags, and challenges to increase your visibility. You can also leverage influencer marketing by collaborating with popular creators to promote your products.
Smart homes and voice-activated smart speakers like Google Home and Amazon Echo, as well as the integration of voice assistant technology into various devices, are on the rise. With the number of voice-assistant users expected to hit over 8.4 billion this 2024, it is prudent to invest in voice commerce.
Walmart is one of the early adopters of this trend, allowing customers to place their orders via voice on Google Express. Capitalize on this trend by optimizing your online store and product listings for voice search. Incorporate long-tail keywords and use local SEO strategies to help users find your products easily.
Augmented Reality and Virtual Reality
Augmented reality (AR) and virtual reality (VR) technologies make it easier for consumers to visualize or interact with products online before making their purchase. These two technologies help lower consumers’ anxieties about making the wrong purchase, such as product sizes.
Though it may require some investment, offering AR or VR options can help attract and retain customers. Depending on the nature of your online business, you can use AR and VR to help shoppers try on clothes virtually or place true-to-scale 3D furniture in virtual renderings of their homes.
Social Media Commerce
Social media platforms are not only for connecting with friends and sharing content — they’ve now become powerful online marketplaces as well. Data shows that over 96 million Americans shop on social media.
Aside from a huge portion of your potential audience being on social media, the community aspect of the platforms plays a part as well. TikTok found that Gen Z shoppers have a 1.8 times higher chance of buying something if it’s recommended by their online community.
This means that aside from selling your products directly from your website, it is important to also have social media storefronts. Examples of these platforms are Facebook Shops, Instagram Shopping, and TikTok Shop.
In line with having more than one online portal for selling your products and services, it’s important to also provide an omnichannel experience for your customers. This means creating a seamless shopping experience across online platforms, devices, and even physical stores if you have them.
Having an omnichannel approach allows customers to easily transition from browsing your products on social media to checking out on your website and even making returns or exchanges in-store. This not only improves the overall shopping experience for customers but also increases the chances of conversion and customer loyalty.
Sustainable Packaging and Practices
Sustainability is not just an ecommerce trend but a fundamental shift in consumer behavior and expectations. Today’s consumers are increasingly prioritizing businesses that demonstrate a commitment to environmental conservation, transparency, and ethical sourcing.
Many are even willing to pay a premium for demonstrable sustainability efforts. Essentially, consumers are more inclined to support and foster loyalty to brands that offer sustainable packaging and other genuine sustainable practices to actively work to minimize their environmental footprint.
Mobile-First User Experience
Mobile-optimized websites have been a must for ecommerce businesses for some time now. However, with the rise of social media shopping and mobile apps, it’s become even more crucial to prioritize providing a mobile-first user experience.
Instead of designing a desktop website store and optimizing it for mobile, more businesses are starting the other way around. This means designing the website for mobile first and adapting it for desktop viewing second. This falls in line with recent data, which shows 91% of consumers make online purchases using their phones.
Aside from optimizing the website user interface and user experience for mobile, you can also capitalize on this trend by integrating simplified mobile payments into your online store. One-click payments and biometric recognition technology, such as fingerprint or facial recognition, are just some examples.
The subscription-based ecommerce model has surged in popularity as consumers seek convenience, personalization, and value. From curated monthly boxes in beauty, fashion, and food to software services and streaming platforms, this ecommerce model ensures steady engagement with customers and a reliable revenue stream for businesses.
You can leverage this model by offering exclusive perks to subscribers, such as early access to new products, members-only discounts, and flexible or budget-friendly shipping options. However, remember not to make it overly difficult for customers to unsubscribe if they choose to do so. Transparency and flexibility are key to maintaining a positive customer experience in subscription ecommerce.
Last Words of Advice
By keeping an eye on the 2024 ecommerce trends listed above, you’ll be in a better position to grow your business and thrive in the ever-evolving world of ecommerce.
The dynamic nature of digital marketplaces means it’s crucial to stay on top of the latest trends. You need to monitor consumer preferences regularly in order to retain a competitive edge and remain relevant in the market.
However, knowing and understanding ecommerce industry trends isn’t enough — it’s equally important to learn how to adapt to market changes quickly and integrate current trends into your business and marketing plans.
Kreidman's Ecommerce Marketing Services can help you achieve your business goals.