5 Trends Shaping Ecommerce in 2024

In 2024, the ecommerce landscape is evolving beyond the basics. Think thrifty deals, voice-activated assistants, eco-friendly choices, and vibrant communities. In this article, we’re delving into the untapped trends that will redefine online shopping. Here’s your insider’s guide to what’s ahead:

Thrifty Shoppers on the Rise

  • Value reigns supreme: Driven by economic factors, 70% of consumers actively seek deals and discounts (McKinsey study).
  • Embrace second hand markets: Cater to value-conscious customers by offering second-hand options or highlighting the extended lifespan of your products.
  • Subscription solutions: Implement flexible subscription models that provide affordability and convenience.

See, Speak, Shop: Visual & Voice Power Up Ecommerce

  • Ditch the textbox and shop with a snap: Forget typing endless keywords. In 2024, visual search lets you simply snap a pic or upload an image to find the perfect “summer outfit,” matching shoes, or that elusive home decor piece you’ve been eyeing. Say goodbye to scrolling and hello to personalized results based on your style and past purchases. Shopping has never been easier (or more fun)!
  • Siri’s upgrade: Get ready for voice-powered shopping assistance, with voice commerce market size predicted to reach $40 billion by 2025 (Juniper Research).
  • Virtual Fitting Rooms Come Alive: Imagine trying on clothes virtually with voice-activated suggestions for complementary pieces. The future of shopping is interactive, personalized, and convenient.

Sustainability Takes Center Stage

  • Eco-conscious consumers  on the rise: 83% of Gen Z shoppers are willing to pay more for sustainable products (IBM study). Embrace sustainable practices to attract and retain conscious consumers.
  • Beyond the box: Implement minimal packaging solutions to reduce waste.
  • Green deliveries: Offer carbon-neutral shipping options to minimize your environmental footprint.
  • Transparency counts: Be upfront about your sourcing practices and commitment to sustainability.

Community Connects & Converts

  • From solo shopping to social experiences: Forget browsing in isolation. Livestream events, interactive reviews, and shoppable social communities are building loyalty and driving sales.
  • The influencer effect: 80% of consumers purchase based on friend or influencer recommendations (Socialbakers). Partner with relevant voices and foster user-generated content to build trust and authenticity.
  • Community is currency: Invest in creating a strong community around your brand by encouraging engagement and collaboration.

Hyper-Personalization Unleashed

  • Virtual try-ons: Imagine stepping into a personalized virtual store, filled with products curated just for you. Try on clothes in an AR fitting room, see furniture come alive in your living room with VR, and experience products in a whole new way.
  • Prediction power: AI analyzes your data like a shopping genie, suggesting items you’ll love before you even realize you need them. Forget endless browsing – discover hidden gems tailored to your unique tastes and desires.
  • Dynamic deals: Price tags adjust based on your preferences and purchase history. Fair value for you, optimized revenue for retailers – a win-win powered by data.
  • It’s all about the shopper: Ditch the cookie-cutter approach. Hyper-personalization goes beyond recommendations, leveraging advanced analytics to deliver truly customized experiences across every touchpoint, from virtual shopping sprees to targeted promotions.

As you navigate the evolving ecommerce landscape, remember that agility and responsiveness are key. These hidden gems aren’t trends to simply observe, but opportunities to embrace a composable commerce approach. By selecting and assembling best-of-breed technologies that cater to these emerging customer demands, you can create an immersive, value-driven, and sustainable shopping experience that stands out from the crowd.

Ready to embrace these trends and create a winning ecommerce strategy for 2024? ITG Commerce is here to guide you every step of the way. Contact us today and let’s discuss how we can help you leverage these trends to compose your path to ecommerce success.