13 Dec
The eCommerce landscape is constantly evolving. Emerging technologies and innovative tools are constantly reshaping how businesses operate.
Innovation is also affecting consumer behaviours and impacting how they shop. With that in mind, offering a great product is not enough, as eCommerce needs to stay updated to keep up with the latest trends.
The best way for online stores to stay ahead of the curve is by looking towards future trends. These trends are also great for anyone looking to start their online business in the coming year.
12 Ecommerce Trends To Watch Out For In 2024
For any eCommerce store, achieving positive growth is a crucial goal. Once you level up with business, you can attract more customers and enjoy a higher revenue while supplying your customers with quality service they can rely on.
The global eCommerce market is expected to reach $6.8 trillion USD in 2023. This shows that there is a lot of space for business owners to make their mark in the digital business industry. With the right strategies and careful planning, business owners can maximise the efficiency of their eCommerce and build a solid consumer base.
Key Tips for Growing Your eCommerce Business
The landscape of online retail is constantly evolving. We’ve compiled a list of 12 eCommerce trends to help you create a solid marketing and business strategy for the upcoming year.
1: Use TikTok and Other Social Media Tools For eCommerce
Social media has significantly impacted consumer behaviour, so we can expect a similar trend in 2024. TikTok has revolutionised how retailers sell and advertise products to a broad audience. With so much innovation, eCommerce retailers can expect access to better marketing tools in the coming year.
TikTok has exploded in popularity, making it an attractive place for online retailers to market their products. However, TikTok’s popularity has also increased competition amongst eCommerce retailers, so optimising your content to reach a larger audience is crucial.
In 2023, the TikTok shop was unveiled as the latest marketing tool for online retailers. With this in mind, online retailers should keep a close eye on social media, specifically TikTok Shop, as their newest sales channel.
2: Go For Short-Form and Shoppable Videos
With so much to see and explore online, users are constantly looking for easily digestible content. Nowadays, many consumers enjoy watching short-from videos on TikTok or Instagram Reels. These formats are perfect for marketing your products and could become a legitimate vehicle for growing your eCommerce.
A great thing about short-form social media videos is that anyone online can find them. If you follow the current trends and use the right effects and video concepts, you can easily reach audiences.
Ecommerce social media channels should also create shoppable videos so our products are only a click away from customers. These videos create a more immersive shopping experience for customers, allowing them access to your items instantly. Expect short-form and shoppable videos to become the go-to for people trying to find the latest products.
3: Think Mobile-Device First
Smartphone sales drive a large part of the world’s eCommerce, and retailers should expect this to increase in the coming years.
When consumers spot purchasable items through social media, they immediately click on the eCommerce and set up their order. Unfortunately, some eCommerce websites are not designed to work well on smartphones, leading to dissatisfied customers.
In 2023, 60% of global eCommerce sales were made on mobile devices, and this number will increase in the coming years. People are constantly on the go, so having access to a quick and easy sales channel is crucial. Online retailers should optimise their websites to work efficiently on mobile devices so customers can purchase successfully.
4: Stabilise and Optimise Your Supply Chain
The recent COVID-19 pandemic significantly impacted the global supply chain, disrupting operations everywhere. For decades, many retailers have maintained a globalised, low-cost supply chain with minimal inventory. However, the pandemic’s impact showed several weaknesses in this system.
While many experts predict that the supply chain will normalise in the coming years, online retailers should also take this time to optimise and increase the resilience of their supply chain management.
Most online businesses need a separate inventory and often a logistical centre to fulfil orders, so you must implement targeted strategies that optimise supply chain management in 2024.
5: Offer Direct Customer Service
If more consumers interact with your brand on social media, they would likely prefer communication through direct messages. The DM feature on social media has made it easy for customers to talk to businesses and get responses immediately.
Over 60% of the customers in the US prefer talking to brands through DMs, while 43% of companies have set up direct communication through social media messaging. So what does this mean for eCommerce?
As social shopping becomes more prominent, expect more people to communicate through DMs. Your business should adopt new technologies so customer service teams can interact through DMs or texting in the new year.
Ignoring or dealing with communication on social media channels can lead to a loss in sales and a decline in customer service. If you run a large online brand, consider investing in customer relationship management software to handle multichannel customer communication efficiently.
6: Offer A Sustainable Shopping Experience
There’s a growing consumer demand for sustainable packaging options, and according to consumer reports, this trend is expected to grow significantly in 2024. As more people become aware of environmental issues, there’s an increasing demand for businesses to employ a climate-first approach.
One of the simplest ways to do so is by providing sustainable or recyclable wrapping options for shipping. Additionally, eCommerce companies can maintain environmentally friendly operations and use optimised shipping routes to lessen their carbon footprint.
Providing an eco-conscious approach could help build a deeper relationship with customers, as studies show climate-first companies achieved 5.8 times faster growth and a higher conversion rate. Ecommerce companies should introduce these reusable packaging options to create a positive sentiment and motivate customers.
7: Take Your Shipping To The Next Level
Speedy delivery is a top priority for customers, and businesses should expect this to remain important in 2024 as well. Most customers prefer fast shipping and consider it an important deciding factor for their purchase. 88% of these customers would even pay extra to get quicker delivery.
With so much innovation in the eCommerce market, businesses will have new tools and strategies to help them deliver orders faster. With many companies also offering similar delivery options, eCommerce stores should implement a solid delivery strategy to stay ahead of the competition and keep customers satisfied.
8: Offer Personalization
Personalization is crucial in eCommerce as it sets you apart from other businesses. It’s also a great way to build a strong relationship with your customers and promote brand loyalty.
For the upcoming year, brands must use innovative technologies and emerging sales tools to provide customers with an experience tailored to their needs. Businesses shouldn’t only focus on who their customers are right now but what they will be in the future.
Predicting your consumers’ behavior can be difficult, but personalization can be done in a simpler and more effective way. Provide tailor-made emails, special discount codes, personalized packaging and more.
9: Provide More Value
In the face of rising inflation, many consumers expect better value for their products in 2024. While increasing sales is important, the brand should also look at consumers’ pain points to build a better marketing strategy.
With recent economic issues and higher inflation, many shoppers are more price-conscious than ever. According to market research, nearly 74% of consumers expect lower prices in 2024 due to rising inflation. Brands must provide better value while maintaining competitive prices.
However, not every eCommerce can provide discounted prices as it may undercut the quality of their products. In this situation, online retail should provide high-quality customer service and offer free perks to maintain brand loyalty. You can also integrate a subscription or rewards program to enrich the sales experience for shoppers.
10: Use Chatbots For Help
Chatbots have evolved over the years from being a fun perk on websites to becoming a crucial part of customer service for eCommerce. With so much innovation, online retailers should implement a chatbot on their website to bridge the gap between the brand and customers.
AI messenger can help customers navigate our website, answer product queries and even help with returns. These helpful tools improve how customers journey through your eCommerce and could become a major deciding factor in their purchase.
11: Allow Voice-Enabled Search
As smart home assistant devices grow in popularity, online retailers can use this channel to help market their products. As of 2023, there are 4.2 billion instances of voice assistant use worldwide. This number is expected to grow to 8.4 billion by 2024.
With this data in mind, it’s critical that eCommerce companies optimise their business for voice search, or you could risk losing your customers who prefer shopping through this method. Since voice-search shopping is mostly local, ensure your business listing is updated on Google to make it onto local searches.
12: Use 3PLs To Streamline Your Supply Chain
Ecommerce is a growing market, which means your costs and labour demands will increase as you scale your business. Partnering with a third-party logistics company is a great way to make your operation more efficient. A number of companies are choosing 3PLs to streamline their supply chain and cut costs, so you should consider this option as well as a way to scale your eCommerce.
A 3PL, like Meteor Space, is excellent for businesses that require a dedicated packaging service to handle order fulfilment. Fulfilment services also hold all your inventory in one place through a tech-based system, so you’re always aware of what’s coming and going.
3PL companies offer everything from tracking inventory to handling returns and shipping logistics. This complete package of services ensures your business keeps running smoothly. Even though order fulfilment seems straightforward, it involves a lot of strategic planning to ensure the workflow remains streamlined with minimal errors.
The Bottomline on The Future Of eCommerce In 2024
Nowadays, eCommerce retailers must be more proactive in marketing and embrace emerging technology to find their audience. Staying up to date on the latest marketing trends, tools, and resources will help you scale your business and keep your customers happy.
How Meteor Space Can Help With Your eCommerce In 2024
If you want a quality 3PL service that provides excellent order fulfilment services with eCommerce integration, go with Meteor Space. We offer many features designed to help online stores through all packaging and shipping needs.
Meteor’s expert team members use their knowledge to get you through peak sales seasons without losing efficiency. Our technology-based services provide excellent management and organisation programs to help you stay on top of your inventory. You can also access Meteor’s easy-to-use web portal, fast shipping, efficient pick and pack and much more.
Here’s a look at some additional features of our fulfilment service.
Technology-Driven Inventory Management
Meteor Space provide an efficient warehouse management system that uses the latest technology to keep your stock safe and organised. This software automates the entire order fulfilment process and provides 360-degree visibility of all operations.
With Meteor’s WMS, you can monitor stock levels, replenish goods and create accurate forecasts. In addition, our clients have access to end-to-end tracking, so you know exactly when your products leave the warehouse and when they reach clients.
Same-Day Shipping
If your customers want fast and economical delivery, Meteor Space is there to help. We’ve partnered with reputable carriers that ship orders quickly without compromising their safety.
Quick Integration
With Meteor Space, you won’t have to worry about lagging and slow downloads. Our system can quickly connect your fulfilment in just a few clicks. This way, you can save time and focus on your business.
Customizable Storage System
Rigid storage options can often turn away many online retailers, but you won’t have to worry about this problem with Meteor Space. We understand that every business has unique demands; therefore, we offer customizable storage options tailored to your requirements.
Real-time Inventory Tracking and Alerts
Our custom warehouse software is designed with the latest technology so you have the best data available. Our accurate inventory forecasting will allow you to keep up with customers’ demands without blockage in the delivery system.
With this data, you can also provide full transparency to your customers and update them on their order status.
