The 6 E-Commerce Trends You'll Regret Ignoring

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2023, oh what a year it has been. A year when online shopping went from "nice-to-have" to "must-have."  A year where sales soared by 8.9%, hitting a whopping $5.5 trillion globally. I mean, that's more zeroes than we can count!

2023 saw everything. The rise of personalization, the surge in mobile shopping, and the dominance of video commerce all came true. But hold on, 2024 is looking even wilder…

Why 2024 is Make or Break

The ecommerce landscape is fiercely competitive, with businesses vying for consumer attention and market share. Standing out with just good products isn't enough. Superior customer experience is going to be a make or break deal for you. 

Now, as we step into 2024, the e-commerce arena is poised for even more dynamic changes. To stand out, brands have to ride the waves of these latest trends. Ignoring the trends means risking irrelevance. The early adopters of trends are the ones who'll be popping the champagne while the latecomers wonder where it all went wrong. 

Now, you might be thinking, "Another e-commerce trends blog? What's new?" 

We aren't just waving around buzzwords; we've been working with over a hundred e-commerce brands. We are working shoulder to shoulder with these brands, and we've got the insider knowledge to prove it.

If you plan to make 2024 the biggest year for your retail brand then this blog is all you need to know. Now if we’ve made our point, let’s dive in:

‍ 6 eCommerce Trends Reshaping Retail in 2024

To thrive in this hyper-competitive e-commerce landscape, it's crucial to capitalize the trends shaping the ecommerce wave. Here are a few ecommerce trends we predict to take center stage this year:

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1. Shoppable Videos

What: Shoppable videos take the concept of "see it, buy it" to the next level. Viewers can directly purchase products featured in the video without leaving the content.

Why: Consumers crave seamless shopping experiences. Shoppable videos reduce friction in the buyer's journey, converting inspiration into immediate action.

What Brands Should Do: Incorporate interactive elements within your videos, allowing viewers to click on products for more information or to make a purchase. Use analytics to track which products gain the most attention.‍

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2. Subscription E-Commerce

What: The continued growth of subscription-based e-commerce models, where customers subscribe to receive products or services on a regular basis, often with customization options.

Why: Subscriptions offer convenience, cost savings, and a predictable revenue stream for businesses while fostering long-term customer relationships.

What Brands Should Do: Explore subscription-based offerings, tailor packages to customer needs, and leverage data insights to refine and optimize subscription models.

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3. Live Commerce

What: Live streaming for e-commerce, where brands showcase products, answer questions, and interact with viewers in real-timeWhat: Live streaming for e-commerce, where brands showcase products, answer questions, and interact with viewers in real-time.

Why: FOMO (Fear of Missing Out) drives engagement. Live commerce provides an authentic and dynamic way to connect with audiences, creating a sense of urgency and exclusivity.

What Brands Should Do: Schedule regular live sessions, unveil new products, and respond to viewer comments and inquiries during the broadcast.

4. Personalized Shopping Experiences:

‍What: AI-driven personalization in e-commerce, tailoring product recommendations, content, and promotions based on individual customer preferences, behavior, and demographics.

Why: Personalization enhances customer engagement, satisfaction, and loyalty by delivering relevant and curated content, making the shopping experience more enjoyable and efficient.

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5. Short-Form Video Content

‍What: Bite-sized, engaging videos that quickly convey brand messages and product highlights.‍

Why: Attention spans are decreasing, and users prefer concise and visually stimulating content.

What Brands Should Do: Create compelling short-form videos for social media platforms and product pages. Focus on capturing attention within the first few seconds.

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6. Social Commerce Integrations

What: Deep integration of e-commerce features within social media platforms, enabling users to discover, explore, and purchase products seamlessly without leaving their preferred social apps.

Why: Social commerce capitalizes on the social nature of online interactions, turning social platforms into powerful sales channels and leveraging user-generated content for product discovery.

What Brands Should Do: Leverage social commerce features on platforms like Instagram, Facebook, create shoppable posts, and encourage user-generated content to enhance brand visibility.

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Learn how Mulmul scored 3x higher engagement by incorporating shoppable UGC into their website!