Why is it important to know e-commerce trends for 2024?
If you’re running your own online store, you’re surely constantly looking for ways to attract new customers, as well as maintain the interest of those who already know your brand. In order to do effectively in a market filled with competition, you need to keep your hand on the pulse and be prepared for upcoming changes.
Effective operation of an e-shop also means that a strategy must be prepared, even if only in outlines. An excellent understanding of the predictions for the next year will translate directly into the effectiveness of the plan prepared based on them.
You will find a sea of inspiration among dozens of predicted trends. You’ll discover channels to expand your audience, and the use of new technologies will help you increase engagement among your current customers and attract new ones.
In this article, we’ll list a few trends that we think may prove to be the most relevant for the whole of 2024. Here they are!
1. The growing popularity of online B2B transactions
Online shopping in the consumer sector is nothing new, but in the B2B world its popularity continues to grow rapidly – and there is still plenty of room for it. Already a few years ago, it was predicted that by 2025 as much as 80% of business-to-business sales would take place online, meanwhile, in 2022 alone, the B2B e-commerce market scored a big increase – by as much as 19%.
Internet sales for business customers is an area where there is still much room for improvement. Facilitation of the purchasing process, digitization of product and service catalogs, greater accessibility of customer service – these are all elements where just a few years ago massive deficiencies could be observed. The situation is improving, but it is still far from optimal.
A noteworthy development in this context was the emergence of financial solutions aimed at business customers. Among them, deferred payment services (Buy Now, Pay Later) or business installments in particular boast great popularity.
The labor market is slowly filling up with younger generations whose digital competence is already at a very high level – this means that over time, retailers who fail to adapt to the digitized market will start to face serious problems. What’s more, representatives of Generation Z, as well as, albeit to a lesser extent, Millennials, are eager to make online purchases without contact – the simpler (shorter and containing fewer steps) the process, the greater the chance of finalizing the transaction.
“With the rapid growth of B2B E-Commerce, we are seeing the growing importance of so-called B2B consumerization. Businesses accustomed to the ease of in-person online shopping expect a similar customer experience in the business-to-business sphere.
More and more processes are being automated, and ordering missing production components or bulk purchases are no longer more trouble than ordering a new pair of shoes. This trend is not bypassing customers’ delivery habits either, where convenience and 24/7 availability very often win out.”
Tomasz Łaski
Customer Experience & Digital Director / InPost
2. More emphasis on security (MFA, payment gateways, encryption)
Not a week goes by in which you don’t hear about yet another leak of customer data, a DDoS attack that shut down a store’s website for several hours, or the disclosure of vital business data. The intensity of hacking attacks is on the rise, and companies that thought this didn’t apply to them have already convinced themselves of the wrongness of these assumptions in the worst possible way – by becoming one of the criminals’ targets.
Hacking attacks, however, are not an internal problem for companies – a non-functioning site is a financial loss, but also an image loss. Customers who encounter technical problems may simply look for a working store elsewhere, and the chance to win them over will be gone irretrievably. Repeated problems with an inaccessible store website or app can alienate even those who have been loyal to your brand so far. A separate issue is customer data leaks – such situations severely strain the relationship between the consumer and the store.
So a positive trend (albeit from unpleasant circumstances) will be to improve the security of e-commerce in 2024. Here are some ideas that will make in-store shopping much safer for customers and the company itself.
Introduction of two-stage or multi-stage verification (2FA, MFA)
Confirming a login via SMS or in an app on a phone is an additional security measure, so that it is not enough for fraudsters to simply obtain a user’s password. This is an important step for e-commerce security, especially considering that many consumers still use one or a rapturous number of passwords to log in across multiple sites.
Obtaining an SSL certificate
This proves that the data a customer leaves on the store’s website is encrypted. Importantly, thanks to the SSL protocol, the consumer’s information is encrypted while still in the browser – only the secured “packet” of data is sent further. Having an up-to-date SSL certificate is a prerequisite for implementing a secure payment gateway in an e-store.
Secure, encrypted payment gateways
With the gateways, the shopping customer’s data is encrypted when the order is placed. Sensitive information is transmitted to the payment gateway operator, from there to VISA or MasterCard, and finally goes to the buyer’s bank. Only at this stage, and after verifying that the customer’s account has the necessary funds, does the seller receive the money.
“Online payments in an online store are essential. The choice of a provider should be preceded by analysis. It is crucial that the gateway provides a high level of security, but also inspires trust. This is usually interrelated, so it is worth betting on solutions that enjoy high recognition. Otherwise, you can expose yourself to the risk of an abandoned shopping cart.
The next issues are naturally the range of services available to buyers. should be as broad as possible, i.e. in the Polish market, the buyer must be able to choose BLIKA, instant transfer, pay by card or Apple Pay, Google Pay, and access to deferred payment and installment solutions. These methods should be visible in the checkout step, so that the buyer can be sure to pay as he or she likes before proceeding to finalize the purchase.
When running a store on the Shoper platform, we can count on advice on the choice of payment methods. Experts will help us with the selection of optimal solutions for the assortment sold or the target group based on various parameters.”
Lukasz Piechowiak
Head of Financial Services / Shoper
3. Using social media as a sales platform
Facebook Marketplace and the Shopping feature on Instagram have been around for quite some time, and while they have undergone a number of minor and major changes, they are still quite popular. Data for 2022 says that as many as 16% of Facebook users visit the portal exclusively to shop in the Marketplace tab, and 33% of social media users use Facebook and Instagram’s shopping features.
Although many Internet users still prefer to shop at online stores and more popular marketplaces such as eBay, Amazon or – in Poland – Allegro, the growing popularity of buying through social media cannot be underestimated.
A set of tools for sellers has also recently been introduced by TikTok, which is currently the most popular platform for the youngest Internet users (aged 10-19). However, this does not mean that older people are not using it. Among those aged 18 and over:
- 38.5% of active TikTok users are between the ages of 18 and 24,
- As many as 32.5% are adults aged 25-34,
- 15.6% are people aged 35-44,
- 8.0% belong to the 45-54 age group of users,
- 5.5% of users are 55 and older.
All of the above figures apply to TikTok users globally.
4. Further development of loyalty programs for consumers and businesses
The idea of loyalty programs has solidified, but because of this it has ceased to be exciting in many cases. Among the criticisms leveled against loyalty programs are, first of all, repetitiveness (many e-shops offer twin solutions) and lack of real value.
In 2024, it may be a good idea to personalize a store’s loyalty program by introducing solutions suitable for different customer groups. These could be separate benefits and/or activities for different age groups or even product categories.
Example:
A sports store can offer its customers tasks that promote differentiated physical activity, depending on the sport – for example, in a mobile app. In this way, you not only take care of the brand image, but also create a consistent vision – a store that not only wants to sell products, but sincerely encourages sports.
It’s not just sales that strengthen loyalty
Offering points in a loyalty program for activities not directly related to buying builds a bond between the consumer and the brand. In this way, the company shows that it is not just about selling, but about establishing a relationship.
This is not the only way to improve your loyalty program. You can introduce a ranking of the most active customers, accessible from within the app. This is a gamification element that will further motivate customers to actively participate in the program. Additional rewards for participating in events that your company organizes, as well as exclusive benefits available only to club members – these are not new techniques, but there is still room to exploit their full potential.
It’s been several years since the e-commerce industry took a stronger turn toward customer retention. It became the main focus of changes made to e-commerce sites, at the expense of conversion and acquiring new consumers.
5. Artificial intelligence, or AI in the online store
“With the consumer stagnation we will face in the coming year, I expect pressure to increase in the sector. This means that in order to win, companies will have to acquire customers more efficiently, and on top of that, do it more cost-effectively than before.
It looks like the dominant theme of 2024 will be the use of AI technology, which will become not only a condition for success, but also a critical condition for survival for many companies.“
Karol Dziarnowski
Managing Director / Thesaurus Antiquarian and Bookstore
This topic simply could not be missed. Artificial intelligence, or more broadly, machine learning, is on an upward wave, and there are many indications that we are in for a real tsunami in the coming years.
Already today, automation is found almost everywhere – algorithms learn consumer behavior and based on it “suggest” recommended products, movies to watch or music to listen to. In online stores, chatbots await customers, which can do much more than just answer questions with predefined formulas.
AI is also responsible for Natural Language Processing (NLP), which is making voice search increasingly useful. Search engines are understanding customers better and better and are able to extract what is most relevant from commands. In time, the technology will only become more precise.
6. Q-commerce (quick commerce) – shopping with instant delivery
The trend, which emerged in Poland several years ago and began to grow seriously this year, has as many supporters as opponents. The idea behind q-commerce is to deliver purchases to customers in an instant. Following in the footsteps of the increasing pace of life and decreasing patience, many companies have decided to launch a service in which they offer delivery of purchases in an extremely short time. In October of this year, the Carrefour chain partnered with Glovo – from now on, through the app, customers can shop (not only for groceries) in Carrefour stores and expect delivery of products in less than an hour. The service is not available throughout Poland, but only in selected locations – including Warsaw, Poznan, Tomaszow Mazowiecki, Zgorzelec and Pszczyna.
Carrefour is not the only chain that has decided to launch such a service, but the idea has not been successful everywhere.
The Jush solution, branded by the Żabka chain, was initially launched in seven Polish cities, only to be extinguished shortly thereafter in five of them. Ironically, in October, Żabka Jush received an award for the best e-commerce solution. It was about the first drone delivery on the Polish market. Less than a month later, in early November, the pilot program was withdrawn from Poznan, Gdansk, Sopot, Katowice and Piaseczno. At the moment, only residents of Warsaw and Krakow can use the Jush service.
Paradoxically, this does not necessarily imply general problems in the quick commerce market. An example is the Lisek.App. Its creators first took advantage of Jush’s troubles by offering a special discount code – it only worked in cities from which Żabka withdrew its service. What’s more, Lisek has partnered with the Wolt brand, so that customers can also add a hot meal to their Lisek purchases, available on the Wolt app. The combined services of Wolt and Lisek have been operating for the time being only in Warsaw, but company representatives announce the launch of the service in other cities soon.
Regardless of how the situation develops, the q-commerce market is worth following. What was almost a necessity during the coronavirus pandemic has a chance to stay in the minds of consumers. However, there’s no doubt that it’s riskier now than it was just a few years ago – the target group that cares about instant delivery may not be as large as assumed.
7. Support for voice search while shopping
The times when a voice assistant on a phone was just an interesting but not particularly functional addition are gone forever. Technologically advanced smart home systems such as Google Home, Siri and Amazon Alexa have influenced the popularity of such solutions. It wasn’t long before the e-commerce market also saw the potential.
Customers can already voice-search stores for special offers, promotions and specific products… provided the e-commerce in question is optimized for voice search. A well-designed store page should include long-tail phrases – for example, in product descriptions. Voice search is significantly different from text search, and you should realize this difference even before optimization.
Users who search for information while sitting at the computer are more likely to type short, unnatural-sounding phrases (oled tv 65, city bike store) and similar). In a “conversation” with a voice assistant, sentences that are close to natural dialogue are far more common.
Example:
A customer searching for a TV via voice will not say “oled tv 65” into the phone, but rather use the command “find promotions on oled TVs 65 inches.” This is a very different approach to phrases than text search. The advantage of voice search is that it allows you to say an entire sentence in less time than typing a few words into a phone or computer search engine.
Snippets with the answer (featured snippets)
However, there is another way to make sure that voice searches are more likely to direct users to your site – it’s all about the so-called “position 0” in search engines. Both Google and Bing single out content that is – to the algorithm’s knowledge – the precise answer to a search engine question. Such content goes into an “answer snippet,” a special frame that displays at the very top of the search results. The box usually contains a snippet of text that can help the user find the answer to his or her question even faster, without unnecessary clicking.
Why is this so important in the context of voice search? It is estimated that as much as 40% of voice search results come from just the answer passages. This means that the more your pages, products or landing pages are in “position 0,” the greater the chance that a user who searches with the help of voice will find your company.
Learn, How to create effective landing page in e-commerce promotion?
The potential of voice search in e-commerce
One of the most serious problems for e-commerce stores is abandoned shopping carts. Voice search, often used by busy consumers while driving, cooking or… doing other shopping, is characterized by results coming up instantly and offering no alternatives.
Why can this have a positive effect? Shopping at a computer can take hours by giving the consumer dozens of alternatives right off the bat. In voice search, he gets a single piece of feedback and – if he decides to use the offer presented – the chances of an instant transaction increase significantly.
Local search
But before you drop everything to start optimizing your online store for voice search, you need to know that users still use this functionality most often to find something in their area – a barber store, bakery or vehicle charging station, or to check the weather in the location they are going to.
Summary – e-commerce trends for 2024
The year 2024 in the e-commerce industry will be as interesting as any previous year. Continuous development of technology, changing customer preferences, dynamic economic situation. What may be a growing trend today will become irrelevant or, on the contrary, a turning point twelve months from now.
Running an online store in 2024 will therefore be an interesting adventure, in which – as never before – you will need an excellent grasp of the changing realities.
