The domination of artificial intelligence, adaptation of experiences to the needs of consumers, optimizing e-stores to online shopping, and foreign expansion – these will be major trends dominating e-commerce in 2024.
The significance of online commerce has been progressively increasing in recent years, as shown by the data included in the Gemius report “E-commerce in Poland 2023”. According to the study, as much as 79% of Poles using the internet make purchases online. Consumer habits generate new needs and dynamic development of e-commerce. In response to these fast changes, platforms and online shops are searching for sales-supportive solutions, resulting in the emergence of new e-commerce trends. So, what trends can we expect in e-commerce in 2024?
“The dynamics of changes, particularly in the field of technology and consumer expectations, are of great importance for e-commerce. Customers constantly pose new challenges for sellers, expecting better and better solutions. The consumer becomes the catalyst for changes in purchasing path standards, which online shop owners must adjust to,” says Julia Maciejewska, Head of Marketing and Upsell at IdoSell.
AI and Machine Learning
In 2023, the role of artificial intelligence (AI) and machine learning in e-commerce started to increase significantly. In the new year, 2024, these technologies have not only become key tools facilitating company operations, but also the foundation of the revolution in online shopping experiences. AI allows personalization, real-time customer behavior analysis, and prediction of consumer trends, enabling sellers to offer more personalized recommendations and offers. The innovations brought about by AI and machine learning result in increased sales efficiency and improved customer service. As experts suggest, skillful use of tools utilizing AI and machine learning can strengthen the position of e-stores in a competitive trade environment.
Thanks to new tools, such as the revolutionary Chat GPT, features based on AI and machine learning have become more accessible. They permeate new areas such as personalization of the offer, dynamic price change, customer service, opinion analysis and sentiment analysis. There is also trend prediction and segmentation of customers. Anticipating what will happen on the market and the automation of logistics, warehouse processes, delivery optimization, security. AI is entering ever-deeper corners of e-commerce and will be extremely helpful in the development of e-businesses in 2024.
Cross-border
Cross-border trade will continue to be one of the main e-commerce trends in 2024. Shops that actively sell abroad observe much faster growth compared to those focusing only on the local market. This shows that export to other countries is an important direction for the development of Polish e-trade, with particularly promising markets being our neighbors as well as larger Central Eastern European countries such as Germany, Czech Republic, and Hungary.
This is backed up by IdoSell data, where as much as 20% of the platform’s customers’ sales are international transactions. Implementing cross-border strategies in the new year will enable e-shops to reach new consumer groups. Technological innovations, such as optimized payment and delivery systems or automatic translations adapted to foreign markets, will support them.
“The tools continuously developed by e-commerce solution providers play a decisive role in eliminating barriers and facilitating the smooth operation of trade operations on a global scale. Currently, integration with local markets, choosing the right technological partner, and adapting marketing strategies to the individual needs of consumers from a given country are key elements for international trade success,” explains Julia Maciejewska.
Predictive Analytics
This technology is inextricably linked to the use of artificial intelligence. It enables sellers to better understand customer preferences and forecast shopping trends. This, in turn, allows matching the offer to consumer expectations. Thanks to predictive analytics, entrepreneurs will be able to optimize warehouse management and avoid both surpluses and shortages of goods. Another advantage provided by predictive analytics to sellers is the personalization of shopping experiences.
Personalization of Customer Experience
In building strong relationships with customers in 2024, e-stores will be supported by the personalization of customer experience. Tools that allow adjusting the purchasing path to the needs of a specific consumer, enable sellers to tailor offers, product recommendations, and content to individual buying behaviors. Using personalized targeting, e-retailers can better understand customers and provide effective solutions, building loyalty and long-term relationships.
Same-day delivery
One of the significant trends in 2024 will be the instant delivery of products to consumers – even on the same day. This trend responds to customers who are looking for a fast and convenient way to shop. Same-day delivery is changing the standards of delivery services, providing instant gratification and increasing online shopping satisfaction. For sellers, it is an opportunity to build stronger relationships, which can significantly influence the brand’s reputation.
“Same-day delivery is an increasingly frequent choice for buyers. This trend is mainly known from marketplaces, but we see that it also transfers to online stores. Instant delivery not only impacts customer satisfaction but also shows that the seller offering it is reliable and responsible,” reveals Julia Maciejewska.
Faster Transactions
The acceleration of the payment process is becoming a key aspect of e-commerce. Implementing faster transaction solutions meets the growing expectations of customers by providing them with immediate and convenient payments, for example, through Express Checkout. For sellers, this means greater flexibility and efficiency in handling orders and shortening the time from placing an order to its completion.
Mobile First
Mobile first is a trend that remains important for e-commerce. More and more consumers prefer shopping on mobile devices, so online shops increasingly focus on optimizing their platforms for this purpose. Prioritizing the mobile versions of websites is necessary to ensure a smooth, intuitive, and responsive shopping experience. The “mobile first” concept allows customization of content, interfaces, payment processes to the preferences of mobile device users, providing them with convenient and efficient shopping anytime, anywhere.
“As corroborated by this year’s Gemius report, as much as 79% of consumers in Poland make purchases on mobile devices. This statistic clearly shows that the use of mobile devices has not only become widespread, but is already a standard. This trend will be continued and developed in 2024 as improvements in the shopping experience for mobile users will be made, ” says Julia Maciejewska.
Automated Return Management
Automated management is a point that frequently appears in discussions about the future of e-commerce. The development of this type of tool allows online shops to handle return processes effectively and efficiently, which in turn increases customer trust in the brand. Thanks to automation, sellers can provide quick and efficient service, making shopping more comfortable and reducing the workload for staff. This is also a way to streamline warehouse and logistics processes, contributing to the overall company’s efficiency improvement.
What else?
Apart from the major trends that, according to experts, will dominate e-commerce in 2024, other smaller ones will carry considerable impact on the development of online commerce. These include the use of virtual reality in shopping, life shopping, voice shopping, social commerce, second hand e-commerce, environmental awareness, or quick commerce.
“2024 will be dominated by the customization of the offering to the individual needs of the consumers. Artificial intelligence and machine learning will be a significant support in this process. Unchangedly, sellers will be looking for customers in subsequent markets, and well-adapted Platforms will assist them. We will also see an advantage of mobile-commerce over traditional shopping. However, it is worth remembering that e-commerce possibilities change along with the development of new technologies. For this reason, we may expect that further, revolutionary changes in IT can bring even more options to business development,” summarizes Julia Maciejewska.
