We live in a digital world where the way we interact, communicate, and purchase has transformed. E-commerce has become a fundamental part of the customer experience. In the ever-changing and fast-paced digital landscape, businesses must keep up with the latest trends to stay ahead of their competition. With data-driven growth figures and statistical references, we will showcase how a multi-solution provision is a smart way to keep ahead of developments and changes in customer behaviours and expectations. At The Pixel we pride ourselves in keeping our clients ahead of the curve and their competitors for that matter. So, we wanted to put our thoughts down (based on our 20 years of experience) about what we see as the top 15 trends in digital commerce that are predicted to change the game in 2024.
- Mobile Commerce: Mobile commerce will become even more important with the increasing use of smartphones and tablets. It is predicted that mobile commerce will account for more than 70% of e-commerce sales in four years, making it mandatory for businesses to optimise their websites for mobile platforms. According to Adobe Analytics, smartphones and tablets generated 56% of all website traffic in 2020, and this figure will continue to rise.
- Social Commerce: Social media platforms have become pivotal in influencing customers and promoting sales. It is predicted that in 2024, social commerce sales will reach $600 billion, with Facebook and Instagram accounting for the majority. According to Adobe, 83% of consumers use social media to discover new products, and 63% of consumers follow brands on social media to stay up-to-date with their latest products and promotions.
- Voice Commerce: Voice assistants like Siri, Alexa, and Google Assistant have gained popularity in recent years, and by 2024, it is predicted that 50% of all searches will be voice searches. Therefore, businesses must optimise their websites for voice search to cater to this trend. According to Adobe, voice commerce sales are predicted to reach $80 billion by 2023.
- Augmented Reality: Augmented Reality (AR) offers a unique shopping experience as customers can visualise products in real time. By 2024, it is predicted that AR will be a $30 billion industry. According to Adobe, 61% of consumers prefer shopping at stores that offer AR features.
- Artificial Intelligence: Artificial Intelligence (AI) is already being used in chatbots, virtual assistants and customer service, and by 2024, AI is predicted to be used in personalising product recommendations and enhancing customer experiences. According to Adobe, businesses that use AI for personalisation have seen a 19% increase in sales.
- Subscription Services: Subscription services have boomed in popularity in recent years. By 2024, the global subscription economy is expected to be worth $246 billion. According to Adobe, businesses that offer subscription services experience 5 times higher customer lifetime value than businesses that don't.
- Influencer Marketing: Influencer marketing is predicted to grow to a $15 billion industry by 2022. Businesses can benefit from connecting with influencers to promote their products and increase sales. According to Adobe, 52% of consumers are more likely to make a purchase if an influencer recommends a product.
- Personalisation: Personalization plays a vital role in digital commerce. By 2024, 58% of consumers will only engage with personalised offers. Personalisation has been shown to increase sales by 10% and customer loyalty by 15%. According to Adobe, businesses that excel at personalisation see an average increase of 17% in customer satisfaction.
- Omnichannel Marketing: With the rise of digital commerce, a consistent shopping experience across multiple channels has become even more important. By 2024, 73% of customers will use multiple channels when making a purchase. According to Adobe, businesses that excel at omnichannel marketing see a 10% increase in customer retention.
- Green E-commerce: Sustainable and eco-friendly products and services have become popular recently. By 2024, it is predicted that 50% of consumers will prefer purchasing from brands prioritising environmental sustainability. According to Adobe, businesses prioritising sustainability have seen a 10% increase in customer loyalty.
- Local E-commerce: Local e-commerce has gained popularity as it offers convenience and supports local businesses. By 2024, local e-commerce sales are predicted to reach $352 billion. According to Adobe, businesses that offer local delivery have seen a 28% increase in customer satisfaction.
- Cybersecurity: Ensuring the safety of customer data is more crucial than ever. By 2024, businesses will need to invest in cybersecurity measures and prioritise customer data protection to maintain customer trust. According to Adobe, more than 50% of consumers worry about their data privacy when shopping online.
- Social Responsibility: By 2024, social responsibility will be a high priority for businesses. Consumers are increasingly expecting businesses to take responsibility and contribute positively to society. According to Adobe, businesses focusing on social responsibility have seen a 15% increase in customer loyalty.
- Transparency: Customers seek transparency about the products and services they purchase. By 2024, businesses must offer transparency about their supply chain, product ingredients, and manufacturing practices. According to Adobe, businesses prioritising transparency have seen a 20% increase in customer loyalty.
- Virtual and Augmented Reality Payments: By 2024, it is predicted that virtual and augmented reality payments will gain significant traction. Brands can use this technology to provide seamless checkout experiences, speed up transactions, and reduce cart abandonment rates.
As we look ahead to 2024, it is clear that digital commerce will continue to evolve and transform the shopping experience. By embracing these trends and implementing a multi-solution provision, businesses can stay ahead of developments and changes in customer behaviours and expectations.
At The Pixel, with our 20+ years of experience in developing and delivering the best digital commerce solutions, we help our clients stay ahead of their competitors with the latest thinking, best-in-class service, and Adobe products.
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