Top 25 E-commerce Trends for 2024

Online retail and e-commerce are expanding at a phenomenal rate. Experts forecast that the global industry will be worth more than $7.3 trillion by 2025, largely due to the rapid changes in consumer behaviour in recent years.
Even though e-commerce chances have been expanding gradually, the pandemic made it imperative for all generations to investigate the advantages of internet buying. E-commerce made up about 18.1% of total sales in 2021, and the percentage is still rising.
We’ll look at the top 25 e-commerce trends in this blog that will alter the game in the coming year. These new developments—which range from the emergence of personalised shopping experiences and the smooth integration of virtual and augmented reality to the growing significance of sustainability and the growth of voice commerce—will significantly alter how customers interact with brands and make decisions about what to buy.
Whether you’re an established online retailer or a budding entrepreneur, understanding these key trends will be crucial to your success in the rapidly evolving e-commerce market. Get ready to dive into the future of online shopping and unlock the strategies that will propel your business forward in the years to come.
Here is the list of 25 E-commerce trends
Table of Contents
1. AR Integration
Augmented reality will become increasingly integrated into the online shopping journey, allowing consumers to virtually “try on” products and visualise them in a simulation of surroundings, making it easier for us to click that purchase button. AR will become a necessity in some time as it makes it easier for customers to decide and they don’t have to work too much to find their exact sizes or how the product will look in real life. It eliminates the factor of trying products and takes a huge hit on offline shopping.
2. Hyper-Personalization
3. Voice Commerce Acceleration
4. Upselling and Cross-Selling Using AI
Artificial intelligence and machine learning are growing in the capacity to keep an eye on the user’s search and purchasing behaviour which in turn helps in suggesting products better according to every unique user’s need. There are many ERP and CRM software that help companies learn about their consumers and target them one-on-one according to their personas and history.
In case you need software for your business to do the hard work for you and provide you with every minute detail about each customer of yours, to know where you have been mentioned on the internet, to make your branding better and satisfy your customers, Locobuzz CX platform takes care of all your business and branding needs. Locobuzz uses big data, AI and ML to provide you with the best results for your business to grow.
5. Increased Payment Options
In a recent survey by Forbes, 2/3rds of the people said they used all kinds of payment methods like Apple Pay, Google Pay, PayPal or Venmo as much as the traditional kinds of payment. While 53% of the audience said that they prefer payment in the form of ACH payment, wire transfer or Cryptocurrency. Offering more payment alternatives than your competitor provides you with a small advantage over them, and some clients could choose to buy from you since it makes more financial sense for them. Some offline stores have started keeping more contactless payment options for their customers so that they don’t have to go through the hassle, they can just ‘tap and pay’ using their phones or cards.
Many companies have started offering different types of payment plans, which means that the customer can pay for the product according to their preferences without any extra charges. If they want to make the purchase official or want to pay the whole amount it is a very quick and easy process.
6. Social Commerce
7. Greater Emphasis on Sustainability
People have started realising the benefits of sustainable products and not harming the environment with their choices. Awareness around sustainability has only been growing among the youth and Gen-Z audiences, this will create a huge demand in every industry and urge them to produce more sustainable products to fill the gap in the market. Not just the regular customers but also the government is trying to make a major shift towards promoting sustainable practices, renewable energy and long-term sustainability
8. The subscription model increases repeat customers
9. Be Omnipresent for Customers
In this era of instant gratification, customers might want to contact you for their problems and queries. But the question is, how can they do it? So some of them might want to contact you through call or text. Some prefer an email or a social media platform like Twitter, Instagram or Facebook. This creates the need for businesses to be omnipresent online so that they can provide better support for their customers whenever and however they want. This increases customer loyalty and embeds a feeling in their minds that the company listens to their problems and provides help.
This can also be referred to as Online Reputation Management (ORM), it’s like taking care of your online image and ensuring that your business is always viewed in a good light. To do this you need to do 2 things: be proactive and reactive.
Being proactive means doing things so people like your business; being reactive means responding to anything negative about your business on the internet politely and fixing it.
Locobuzz is a CX tool that can help you manage your image online, be omnipresent and build a loyal community of customers, all from one place.
10. Greater Distribution and fulfilment planning
11. Smoother processes for online purchases
E-commerce platforms are now optimising their payment gateways, websites and applications for seamless purchases online. Customers can now buy from anywhere at any time using their phones and different social media platforms and companies need to cater to their short attention spans and allow them to purchase directly and seamlessly that is why apps like Instagram and Facebook allow their customers to directly purchase from their platform.
12. Fresh marketplaces
In this time of online shopping, leaders like Amazon, Flipkart, Walmart etc are both a blessing and a curse for the smaller e-commerce businesses. They ask for higher platform fees and costs but they also have a greater audience and reach to customers. So, some e-commerce platforms have launched a revolt against these giants by creating their own e-commerce platforms or they decided not to sell their products on these marketplaces and rather have people come to their websites or pages to purchase the products.