Key eCommerce trends to watch in 2024

Are you ready to dive into the future of eCommerce? The digital retail landscape is evolving rapidly, and staying ahead in 2024 demands insight into emerging trends. We've tapped into the expertise of leading industry specialists to bring you a comprehensive guide on what to expect and how to adapt.

From leveraging AI for enhanced customer experiences to embracing community-led growth, this blog will explore groundbreaking developments shaping online retail. Get ready to transform your business strategy with our expert predictions and prepare for a year of innovative growth and technological advancements.

Emerging ecommerce trends for 2024

We asked: What is one eCommerce trend you predict will shape online retail in 2024?

Here’s what our experts had to say: 

Fighting against shorter attention spans

“As online shopping grows and attention spans get shorter, it's getting trickier to figure out where to shop. Competition is fierce, and grabbing people's attention is a challenge. To stand out, your website and ads need to be on-trend and ahead of the game. Think about having smart sales to lure in customers. Stay sharp and keep your site and strategies up-to-date to stay ahead in this competitive online world.”

- Sagrika Agrawal, CRO Specialist 

AR & VR tech is the new normal 

“Businesses must adopt immersive product visualization tools, allowing customers to virtually engage with products, leading to informed buying decisions. This trend enhances engagement, minimizes returns, and demands seamless integration across online stores, urging businesses to invest in user-friendly AR/VR platforms.”

- Sameer Fiaz, CRO Specialist & Full Stack Shopify Developer

Learning how to leverage AI is key

“AI has boomed this year, and it'll continue to surge in 2024. After the launch of ChatGPT in November 2022, many huge software companies invested in their own AI tools, including Google's release of Bard. We strongly encourage businesses to leverage AI tools as a strategic means of enhancing the overall customer experience.

Businesses can prepare by learning what different inputs they can use with AI tools to get the best results. The same can also be done for eCommerce store owners and learning about their tech stack and how AI can best fit in with their current tech stack.” 

- Rebecca Worsley, Director at Rainy City Agency

AI tools will enter the CRO tech stack

“Businesses now have access to more user data than ever before with an average of 5 marketing tools in their data stack. Analyzing all this data to find high-impact bottlenecks and develop the best CRO hypotheses is becoming more challenging. Businesses will turn to AI to automate this analysis process with the use of CRO audit tools. Existing tools like Jaimie, an AI-CRO auditor, can help provide businesses with a CRO audit on their websites in a few minutes and at a fraction of the cost an agency or freelancer would charge.”

- Theodore Odita, CRO & Growth Marketing Specialist 

AI will help personalize the customer experience

“This trend is not just about recommending products based on past purchases; it's evolving into a more sophisticated system that understands consumer behavior preferences and even anticipates needs before the customer explicitly expresses them.

How can businesses prepare for this trend?

• Collect and Analyze Data: AI thrives on data. Companies need to have systems in place to collect, store, and analyze customer data effectively. This data can then be used to train AI models to make accurate predictions and provide personalized experiences

  
  

• Develop Personalized Marketing Strategies: Use AI to tailor marketing messages and offers. Personalized emails, targeted advertisements, and customized product recommendations can significantly enhance the shopping experience and increase conversions.

  
  

• Develop AI Pricing: Utilize AI algorithms to adjust prices in real-time based on various factors such as demand, competitor pricing, market trends, and customer behavior. This approach allows for more flexible and competitive pricing strategies.

  
  

• Enhance Customer Support: Implement AI-driven tools like chatbots for customer service. These can provide instant support, answer queries, and even assist in the shopping process, enhancing overall customer satisfaction.”

- Theo Kanellopoulos, Co-founder of Competitors App

AI will be even more integrated into online stores

“AI will take more place in every marketing asset - your product pages, landing pages, emails, etc. This will be an extra setup after personalization -- and solutions will be created to integrate this seamlessly in your stores. To prepare yourself, there's one thing to do: collect more first-party data on your customers and visitors, so you'll be ready to personalize their experience when it is time."

- Mehdi BOUFOUS, Founder of Panoramata.co

AI will be a true game-changer in the eCom space

“Undoubtedly, AI will be a true game-changer in the eCommerce space - enabling brands to create highly personalized shopping experiences, from product recommendations and conversational Chatbots to AI-powered CRO with dynamic pricing and personalized offers. Creating a culture of innovation within the company will be more important than ever to grow and evolve the business.”

- Indrikis Jansons, Senior Marketing Strategist at YOCTO

Shopify merchants will update their checkouts 

“With Shopify ending its support for checkout.liquid in August 2024 in favor of Checkout Extensibility, every Shopify merchant is going to need to upgrade and make decisions around how they want to use the new capabilities and investigate whether the apps they use in their existing checkout are compatible with the upgrade. It's best to prepare well in advance of the deadline to work out kinks. Don't wait until the last minute -- especially if you work with a development agency (who must support many client upgrades at once).”

- Linda Bustos, Founder of Ecom Ideas

Ethical marketing will matter

“Ethical marketing - while it might sound a little daft, it will become an important trend in the next year or so. Customers are becoming immune to a lot of cheap marketing tactics and question the honesty of the brands more than ever before.

So if your goal is the growth of the business (not just a quick buck), then it's really important to revisit your overall marketing strategy and make sure that your online experience is ethically marketed and not pushy.” 

- Gintare Forshaw, Co-founder & CRO consultant at Convertex Digital

Community-led growth is more than just a buzzword 

“I will toss community-led growth in the ring. I don't like making predictions. I generally draw on what works in multiple industries and verticals.

Right now, brands like Obvi are crushing it with community-focused growth. And this is also a white-hot topic of interest in the B2B (namely SaaS) world.

The reason why I believe community-led (and people first) everything is "it" as AI goes on a rampage is manifold:

1. People crave connection. Brands are built on emotional transactions. And when these transactions come with consistency and stability (think jab, jab, jab - right hook, without being overt about the hook), people tend to invest not just with their wallet (flimsy loyalty) but also with their attention and faith (lasting loyalty).

2. Communities dictate product roadmaps. Or launch schedules. The folks who buy from you and think about you are the most likely to expand into your new products (unless of course, you wish to penetrate an abutting market).

3. Communities build and strengthen your strategic narrative (B2B) or your selling angles (B2C/DTC). You should always conduct planned research. But when themes and complaints surface again & again (communities provide this continuity - beyond random on-off testimonials) -- they can shed light on untapped market potential.”

- Trina Moitra, Head of Growth at Convert.com

Small businesses will turn to eCommerce

“2024 will see the rise of small businesses using ecommerce as a sales channel to be able to reach more customers where they are at and not make clients conform to the business' opening hours. The idea that all sales should be done over the phone is so 2021!”

- AJ Saunders, Founder of Audacious Commerce

Brands will go all in on omnichannel

“The trend for 2024 is to go omnichannel with your eCommerce. Bringing B2B, B2C, and in-store/location together in one solution and getting your data structured. I notice that a lot of Merchants find it challenging to get the right data through the organization. Data structuring should be the starting point of your eCommerce strategy. AI can be very helpful for this.”

- Coen Fredriks, Ecommerce Strategist at Code

Conclusion

As we navigate through the ever-evolving terrain of eCommerce, it's clear that 2024 will be a year of significant transformation. From the integration of AI in personalized customer experiences to the shift towards ethical marketing and omnichannel strategies, businesses must adapt to stay competitive. 

Embracing these trends isn't just about keeping up with the times; it's about seizing opportunities to innovate, connect with customers on a deeper level, and drive sustainable growth. As you reflect on these insights from industry leaders, consider how your business can harness these trends to create a more dynamic, responsive, and customer-centric online retail experience. The future of eCommerce is bright, and by staying informed and adaptable, you can ensure your business thrives in this exciting new landscape.