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Emerging Trends in E-commerce: What's Next for Online Retail?

Emerging Trends in E-commerce: What's Next for Online Retail?

E-commerce is not just a way of shopping, it’s become a way of life. Whether you’re browsing for a new outfit, learning how to do new things, or just ordering a pizza, chances are you’re doing it online. And you’re not alone. According to Statista, global e-commerce sales are expected to reach $6.5 trillion this year. That’s a $2.3 trillion increase from 2020. That’s a whole lot of clicks, taps, and swipes.

But the question on many minds in the digital world is: what are the trends that will shape the future of e-commerce in 2024 and beyond? How can you stay ahead of the curve when e-commerce is evolving so quickly? We’re here to explore some of the latest and greatest trends in the ecommerce space that you need to know about. Let’s get started.


Short-Form Video

If a picture is worth a thousand words, then a video is worth a million. Short-form video is the new king of content, and platforms like TikTok, Instagram, and YouTube are its kingdoms. Short, engaging videos that showcase products do a better job garnering customer engagement than window shopping in a mall. But customers are not just watching, they’re buying. According to a survey by Wyzowl, 84% of people say they’ve been convinced to buy a product or service by a brand’s video. 

But video is not just for boosting sales. It’s a tool for interaction and brand building. Engagement means that customers are liking, commenting, and sharing your videos, giving you the opportunity to respond in an authentic and creative way. This creates a sense of community, trust, and loyalty among your customers and almost-customers. Plus, it’s a lot of fun. Just remember to be responsive. Engage with them, answer their questions, and thank them for their feedback.


DMs for Customer Service

Customer service is not just a phone call or email anymore. It’s a direct message. Customers who engage with you, especially through social media, expect support from their brands, and they want it on platforms they use every day. Your presence on Facebook, WhatsApp, Instagram, or Twitter is expected to be responsive so your customers can resolve their issues quickly. This is a valuable moment for your customers that helps you build loyalty.

But DMs are not just a way to solve problems. Like engagement through short-form video, they’re also a way to build relationships. Customers appreciate when you show them care, respect, and responsiveness where other businesses would rely on automation or AI generated responses. Rely on your people and connect with customers on a personal level.


Personalized Customer Service

Following through with the theme of person-to-person communication, customer service is not a cookie-cutter solution. It’s a tailored and customized experience that should fit the needs of each individual customer. Customers expect to be treated as unique and valued individuals, not as numbers or data pieces. Now, in order to understand them, you can use business intelligence platforms to help you gather, view, and analyze your data all in one place.

There are also Customer Relationship Management (CRM) platforms like HubSpot e-commerce and Salesforce e-commerce that not only help you understand your customers, but also engage with them in an efficient and effective way. One of the key points of personalized customer service is knowing what your customers want, not just guessing. According to a report by Salesforce, 80% of customers say that the experience a company provides is as important as its products or services, and 76% of customers expect companies to understand their needs and expectations.

While there are tons of new, exciting AI tools to use, many of the emerging trends in e-commerce revolve around being human. Showing your empathy, your humor, and your appreciation goes a long way in a sea of generic and irrelevant messages. While AI tools are there to help you sift through and understand data, in an amazing way, always remember that your personality as a business is incredibly valuable too. If you need help integrating tools to help you manage your relationships with customers, don’t hesitate to get in touch and we’ll start you on the right path to elevate your business today.

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