These are the 5 E-commerce Trends of 2024
The time has come; the year 2024 has begun! A year that promises to be full of exciting developments within the e-commerce sector! Our online shopping world becomes faster and wiser each year, and this year is certainly no exception.
New Year’s plunge over? Let’s dive further into the five top trends that every webshop owner must know:
We’ll investigate what’s happening and how it can affect your webshop. Whether you’re just starting your online store or have been in the game for years, these trends will help you to be at the forefront of the 2024 e-commerce race.
1. The impact of AI: Personalization, purchases via ChatGPT, and the importance of branding
Imagine a webshop that knows precisely what you like and what you need, almost as if it can read your mind. Chatbots can help so personally and in detail that, as a consumer, you don’t even realise you’re talking to ‘one of those annoying chatbots.’ Artificial intelligence (AI) is the game-changer that will take e-commerce to a higher level. Here are ways AI can be valuable for your online business:
- Product recommendations and customer interactions: AI is like an intelligent shopping assistant that understands precisely what your customers need, even before they know themselves. From customised recommendations to personalised content and great help with questions, AI ensures every customer feels unique and understood. Webshops that already use this see their sales significantly increase. Customers find what they want faster, which means more sales and happier customers.
- Purchases via ChatGPT: It is expected that the use of ChatGPT will further increase. Consumers will use it more often as a search engine for, for example, suggestions of webshops focused on a specific item they want to buy. For example, a consumer could ask ChatGPT for the top 5 largest ski webshops in the Netherlands at this time of year. But there’s more because consumers are expected to make more purchases within ChatGPT. For this, connecting with your webshop to Klarna is essential. Klarna’s flexible payment solution is integrated within ChatGPT.
- Future developments in AI within e-commerce: In 2024 and beyond, AI will be applied even more within e-commerce. Think of AI predicting trends and even helping with inventory management. In short, AI has become an indispensable part of the e-commerce world. But note: AI also provides a marketing boost among webshops. Creating content, campaigns, blogs, and social media posts has been made incredibly easy by the advent of improved AI. And how do you stand out as a webshop? Exactly, having a unique style, compelling communication, and particular core values. Your branding is now more important than ever to keep distinguishing your brand from the rest!
2. Social Commerce and Mobile First: The trend of 2023 continues
Social media channels are more than memes and cat videos: they have evolved into a bustling shopping centre on your screen in recent years. But now is the time if you haven’t played into this enough. This trend will undoubtedly continue and become even more significant.
- Purchasing via social media platforms: Platforms such as TikTok and Instagram are no longer just for entertainment; they are the new marketplaces. With buttons like ‘Shop Now,’ purchasing a product is done in just a few clicks. We can expect a more significant number of platforms to integrate more shopping features, making the customer experience even smoother and more enjoyable.
- Use of influencers and live shopping events: 2023 has shown how huge the impact of influencers advertising products can be. If you’re not doing anything with this, consider the possibilities because this trend will continue in 2024! In addition, live shopping events that announce fun actions also work well on socials. This approach not only attracts attention but also converts followers into buyers.
It’s no surprise that the majority of social media purchases are made via mobile phones. But did you know that over half of ALL online purchases are now made through mobile devices? The trend is clear: mobile shopping is a booming business.
- Here’s what your mobile webshop design should adhere to : A user-friendly website takes into account fast loading times, simple navigation, and an attractive, responsive layout. It’s all about making the mobile shopping experience as smooth and enjoyable as possible. Customers quickly find what they seek and can easily check out, increasing their satisfaction and loyalty. We expect mobile shopping to continue growing with more advanced technologies and personalised shopping experiences.
- A simple checkout process with Monta’s Checkout Module: Once a consumer has found the right products on your webshop, it’s time to check out the shopping cart. Besides a slick design and pleasant layout, the checkout process is an essential part of the customer experience that is, unfortunately, often undervalued. In 2023, you probably experienced receiving a product delivered by a carrier you didn’t like, born at home when no one was there, or at a pickup point that was too far away (causing you to drive a long way). This can irritate consumers, and there’s a good chance they won’t buy from that webshop again! As a webshop owner, it’s wise to map out this process, as 2023 was the last year you could make these mistakes. Need help? With the Monta Checkout Module, you offer your customers flexibility and choice in delivery options. They can choose from different carriers, pickup points, and other delivery options, which increases customer satisfaction. Among Monta’s customers, using this feature (always included in the package) even resulted in a 6.1% extra conversion!
3. Sustainable Products and Trends in Retail and E-commerce
In the world of e-commerce and retail in 2024, it’s not just about what you sell but also how you sell it. Sustainability has become the new standard, a must-have for every webshop that wants to be future-proof. Oh, and did you know that from 2024, some companies will be required to report on their sustainability policies and performance? This results from the European Corporate Sustainability Reporting Directive (CSRD). So, if you weren’t sufficiently engaged with this, now is the time to tackle it. (source: Corporate sustainability reporting – European Commission (Europa. EU) )
- The impact of sustainable products on brand loyalty and image: Sustainable products strengthen a brand image, which is of great value in this competitive market. Consumers increasingly live consciously and often ask for products that are good for them and the planet. This means an increase in demand for sustainable products. Think of Monta’s customer Happy Soaps, for example. Their 100% plastic-free products make an impact, which is precisely what makes this brand so unique and why they are growing so massively!
- Consumer expectations: More and more webshops expect a company to strive for the most sustainable possible supply chain for an item. The logistics part is part of this, where Monta can help with sustainable fulfilment. With the Monta packing machine, each box is custom-made, leading to less waste of cardboard and more efficient packaging of products. Fewer trips must be made, as the carriers can carry more packages. In addition, Monta can arrange for customers to choose environmentally friendly delivery options at checkout in a webshop. Think of sustainable carriers or picking up at a pickup point.
4. Retention Marketing: Increasing Customer Loyalty
Retention marketing is all about building long-term relationships with your customers. In a world where new webshops keep popping up like mushrooms, retaining your customers is worth its weight in gold. Now more than ever.
Strategies for increasing customer loyalty in e-commerce: It’s about more than just selling products; it’s about connecting with your customers. This can be done by offering customised experiences, such as personalised offers and emails, recommendations based on previous purchases, reward programs, and excellent customer service.
Use Monta’s RMA portal for a customer-friendly return process: The logistics process of online orders also significantly impacts consumer loyalty. More than 70% of consumers do not repeat purchases with a webshop if the return experience is poor! Therefore, a smooth return process is essential. Monta’s RMA portal makes it easy for customers to return and exchange products quickly and easily, contributing to a positive shopping experience.
Measuring and further optimising customer retention: You can further refine and improve your retention strategies by analysing customer behaviour and responding to feedback.
5. Innovative Fulfillment Solutions: A Necessity in 2024
If there’s one thing the pandemic has taught us, it’s that flexible and efficient fulfilment is essential for e-commerce success. In 2024, we see even more clearly that advanced fulfilment solutions are not just a trend but a necessity.
- 2024 in e-commerce fulfilment and logistics: Think of automation, AI-driven inventory management, and sustainable packaging solutions. These trends set the standard for how we process orders and serve customers.
- How technological innovations improve the efficiency and speed of order processing: With Monta’s dynamic forecast, Monta uses AI to predict demand and optimise inventory levels. This results in less waste and faster deliveries.
- Sustainable solutions with packing machines, packaging materials, and green carriers: As mentioned earlier, In addition to efficiency, sustainability is crucial. We reduce our ecological footprint with intelligent packing machines, environmentally friendly packaging materials, and green carriers. Some features developed by Monta are suitable for the planet and your wallet. At Monta, we believe the sustainable option, often the more expensive one, is no longer necessary.
Stay Ahead in the 2024 Trends: Discover Monta’s Solutions
Recent research by Mollie has shown that 56% of Dutch consumers expect to spend more on webshops in 2024 compared to the past year. That looks promising! Make sure you benefit from this as much as possible and capitalise on the abovementioned trends. Do you need a bit of help with logistics, or are you curious about the possibilities in this area? Monta is here to help! We can assist you with all the challenges and opportunities that come your way in logistics.
Don’t wait any longer; take the first step towards e-commerce success today. Click here for a free demo and see how Monta can prepare your webshop for 2024 and beyond. Let us help you make your webshop shine!