The eCommerce trends to help your business thrive in 2024

The online shopping trends we’ll see more of in 2024

In 2024, it’s expected that advances in technology will shift the eCommerce landscape.

These technology breakthroughs include artificial intelligence (AI) and online channels that enhance the customer experience – and they’ll open up enormous opportunities for savvy eCommerce retailers to thrive.

Let’s take a look at the exciting eCommerce trends that could give your business an edge in 2024.

The rise of conversational commerce

We’re in the midst of an AI boom, and AI in eCommerce is sure to become even more widespread over the coming year.

In particular, conversational commerce is on the rise as a key eCommerce trend. This is when businesses use chatbots, live chat and messaging apps (including Facebook Messenger and WhatsApp) to enhance the customer experience – and it’s predicted that global spending via conversational commerce channels will reach $290 billion by 2025¹.

Shoppers can use this technology to ask questions, find reviews and – perhaps most importantly – receive customised support that feels like a dedicated shopping assistant. As a retailer, there’s an opportunity for you to use the power of conversation to guide shoppers through their purchase journey, show them you understand their needs, resolve any issues and provide information about your products and brand.

As with any change, it’s important to strategically plan how to use AI in your eCommerce business to enhance your customers’ experience, instead of being drawn into the hype. You’ll want to start by researching the platforms and tools available to businesses and identifying the areas it can help you, when forming your AI strategy.

The next evolution of subscription models

Subscription models are ready to evolve and meet the needs of a changing eCommerce market.

Personalisation is the latest modernisation of subscriptions – something that online business Good Pair Days is investing heavily in. It’s another trend that relies on AI technology for great execution.

From the early days of managing time-consuming spreadsheets, they’ve since developed leading personalisation technology to service their wine subscription base with the wines they like best.

Tom Walenkamp, Co-Founder and CEO of Good Pair Days, says, “As you rate your bottles over time, our AI learns more and more about your taste and your preference and makes better and better recommendations.”

They’ve also linked this with another eCommerce trend for subscriptions: giving customers more value as a reward for their loyalty.

“When you rate your bottles you get points that you can redeem for free rewards, and you can level up and get more perks,” Tom says.

With the number of online purchases flattening as cost of living pressures hit Aussie consumers², offering extra value via rewards and gifts – often bundled into subscription models – will have even greater benefit this year.

Livestream shopping to hit its stride in Australian online shopping

Livestream shopping is where shopping meets online interactivity and influencers. An eCommerce trend led and embraced by China, it’s growing in popularity around the world on social media channels like TikTok and YouTube.

During a livestream video, shoppers can ask questions via a live chat and make purchases while a host (usually a celebrity or influencer) showcases a series of products. At their best, these experiences create high levels of engagement, trust and loyalty between a brand and its customers.

For customers, a livestream shopping experience is an opportunity to access exclusive discounts or offers. Customers are reported to have higher conversion rates and lower numbers of returns following a livestream purchase³.

And there are lots of benefits for eCommerce businesses. You can use livestream shopping to teach your audience about your products and inspire them to shop. Many brands also use this format to gain real-time feedback and insights about what matters to their target audience.

Voice shopping is gearing up to be an eCommerce leader

It’s official: voice assistant devices have hit the world of eCommerce. These include Google Assistant, Amazon Alexa and Apple’s Siri, as well as smartphones and integrations with wearable devices such as smartwatches.

Shoppers can use these voice-activated assistants to do research, find products, ask shopping related questions, find online sales, manage their orders and navigate your site.

Voice commerce is all about convenience (shopping quickly or while doing other things) and accessibility for those who aren’t able to use online or visual forms of shopping.

It’s predicted that, over the next few years, the popularity of voice commerce will lead to voice-first online shops – definitely a space to watch – or even lead!

Sustainability is influencing more buyers in new ways

Shoppers have been interested in sustainable brands, products and shopping practices for a while now, and this continues to evolve.

Some key sustainability eCommerce trends into the next year include:

• The recommerce market is the intersection of environmentally aware and budget conscious shoppers – and it’s booming. Michael Hill have introduced a recommerce element to their jewellery business, with a program called re:cycle, which provides store credits to customers who send in old jewellery. “It’s a great circular initiative – to date, we’ve reduced mining ore extraction by 7,000 tons and reduced carbon emissions by 36,000 kgs, simply through recycling gold back into the industry,” says Nat Cooper, General Manager Supply Chain and Global Logistics at Michael Hill.
• Naked packaging is a movement that asks eCommerce retailers to consider using only what’s absolutely necessary. Lush Cosmetics is seen as a leader in naked packaging, not only reducing packaging for sending but also selling many products packaging-free.
• Ethically sourced products. Your customers are more interested than ever in where and how you’ve sourced the materials for your products. Share the sustainability story of your entire supply chain – from raw materials to carbon neutral delivery – to help you connect with a customer base who love what you do and the values you stand for.
  

With consumers always looking for ways to save, eCommerce sale events will continue to be popular this year. Make sure you’re keeping on top of the online sales calendar (PDF 2MB) and planning your marketing and promos around the biggest dates in the 2024 calendar.