Top 5 eCommerce trends to look for in 2024

The year 2023 has commendably proved that change is the constant participant of eCommerce industry. Looking at the current scenario of eCommerce industry, it is believed that there’s no way ‘this change’ will slowdown in near future. While the consumer behavior is continuously fluctuating, on the other hand economic upheaval is breaking its previous records every passing year. The eCommerce website development and ways to make it responsive and engaging have touched an all new level.

According to a report, in comparison to US $1.3 billion sales made in 2014 and US $1.8 billion made in 2016, it is expected that the figure will reach the mark of almost US $2.8 Billion in 2024. In fact, having an  Commerce website is no longer just a trend, instead, it has evolved and transformed itself into a need to sustain and grow in the ultra-competitive market.

Retail firms are constantly focusing on new ideas to convert their web audience into potential buyers. The brands are cutting off their investments on huge inventories and are focusing more on market trends and ways to succeed.

With the advent of 2024 getting close, online retailers are keener to learn about trends that will rule the eCommerce industry in the coming year.

Let’s have a look at them:

1. Virtual Reality: The technology is no new inclusion in today’s world. While we have seen VR as a major participant in the gaming industry. However, it is believed that it will make its space in the online retail industry. We can’t also deny that the technology is relatively new, and hence there’s a wider scope to explore its use in the eCommerce industry. It is believed that despite the fact that VR market is very saturated, the potential usage and ultimate performance of the technology are yet to be explored. We can indeed expect to have online stores that’ll avail VR experience to its users in the coming year to try clothes or sunglasses.
2. Multi-device and cross-platform involvement: Predicting the device your audience is using to visit your online store is difficult. This calls for the emergence of responsive eCommerce portals with multiple form factors. In the coming year, serious online retailers are expected to build more flexible platforms, which will flawlessly work on different types of desktops, tablets, and smartphones. In fact, even customers are changing their buying habits. It is crucial for you at this stage to thoroughly study the market and the user behavior on your prevailing portal and accordingly make the changes.
3. Increased social media interaction: Social media channels have become a hub for the millennials, which eventually makes them a major attraction for retailers. Not only the online sellers, but the social sites also have noticed this and are ensuring that the users don’t have to step outside to make online purchases. In the coming year, you can expect the rise in this competition with more and more brand dipping into this social commerce bandwagon.
4. Penetration of Big Data and analytics: eCommerce industry is largely adopting Big Data to utilize the enormous data they generate every day. It is expected that in coming time online retailers will apply cognitive computational methods. Also, it is believed that advanced analytics data scientists will come ahead insights that will help increase returns. In future, you can expect a massive rise in taking decisions by combining real-time data with buying history and past engagement records to give more personalized experience and enhance productivity. Big Data and analytics will play a bigger role in the coming year in providing product suggestions to customers based on their recent activities.
5. Simple user interface: Though last in our list, but the user interface has become of prime significance. Online sellers have understood that users don’t want to see their complex creativity, instead, they want you to be creative and simple simultaneously. In fact, user-friendliness ranks top on the wish list of eCommerce customers. The major points to be considered include availing relevant links easily, customized landing pages, product information etc. It is suggested that you consult a web design expert to get best results.

Conclusion

There’s no doubt that the pace with which eCommerce is growing, there’s no way its stopping or slowing down in near future. To stand in the competition and to sustain, it is important to understand this emerging market.