Latest Trends in E-commerce: What You Should Know?

What are the latest e-commerce trends? Apart from using artificial intelligence and machines for content personalisation, intelligent product recommendations and customer segmentation, we may observe virtual reality and augmented reality becoming crucial elements in e-commerce marketing efforts and the tendency to embrace social commerce. Naturally, the trend to sell cross-border is still prevalent, with new markets emerging as the next opportunities. Do you want to learn more? Then keep reading!

5 Latest Trends in the E-Commerce Industry

Let’s look closely at the current e-commerce trends. What does the year 2024 bring? Here is a list!

Cross-Border Remains Popular

Cross-border e-commerce, first seen as an opportunity to combat the consequences of local market slowdowns, remains an increasingly popular option for current e-tailers. This is mainly due to the benefits coming with it, such as:

• Increased brand reach – It’s an opportunity to acquaint new customers with your brand and products.

• Higher revenue – New markets mean new sales, usually increasing the overall profitability of an e-commerce store.

• Building reputation – Expanding your business abroad helps you build the reputation of a trustworthy, large e-commerce store.

Add to that the fact that the customers themselves are often willing to purchase products cross-border, and you can clearly see why cross-border is popular. Therefore, at Landmark Global, we offer reliable cross-border delivery services, including customs clearance, to ensure that your parcels arrive safely and on time every time.

New Emerging Cross-Border Markets

While cross-border sales remain popular, there are new markets that have become the target of foreign online stores. Currently, we can observe a trend among e-commerce stores to approach Eastern and Central Europe, with countries such as Slovakia and the Czech Republic being the two vital markets, but also to expand their reach to more distant countries in Asia.

What are the most important Asian emerging markets currently? Namely:

• Vietnam,

• Malaysia,

• Singapore,

• Hong Kong,

• Indonesia.

We understand that these markets offer a plethora of opportunities for e-commerce stores. Thus, at Landmark Global, we have invested in logistics infrastructure and signed partnerships with local final-mile carriers to offer you reliable delivery to these emerging markets.

Artificial Intelligence and Machine Learning

With AI becoming a buzzword across all industries, we naturally need to mention it in terms of online shopping. Currently, there are three main e-commerce trends regarding the use of artificial intelligence and machine learning:

• Customer segmentation – Firstly, AI-ML engines are more commonly used to segment customers based on their purchases, the products they view, and all other customer data that e-commerce stores acquire.

• Content personalisation – The same customer data is used to personalise the content delivered to customers via e-mail, pop-up notifications, or even messages.

• Intelligent product recommendations – Finally, AI is used to analyse customer data and prepare bespoke product recommendations based on it, hence offering products that the customers are more likely to purchase.

Naturally, there are other uses of AI in e-commerce – for instance, to automate e-mail marketing campaigns. Nevertheless, the above are the relatively new trends that are bound to become a standard in the near future.

Virtual Reality and Augmented Reality

Despite being associated mainly with gaming, virtual reality and augmented reality have a plethora of other applications, including marketing. This is why we can observe a trend to use these technologies in e-commerce. How does it work?

Imagine you sell furniture. With an AR app, you can provide your customers with an overview of what your products would look like in their homes and how they would fit in. Or, let’s say you sell clothes. You can create a world in virtual reality with virtual fitting rooms and a customer service agent at your customers’ disposal.

Both examples show how VR and AR let you mitigate the natural downsides of e-commerce, namely the lack of possibility to test the products out. Thus, we are not surprised that more and more brands employ these technologies in their marketing strategies.

Social Commerce

Another important mention regarding the trends in the e-commerce industry is social commerce. It is the practice of selling and buying products via social media platforms, such as Facebook, Instagram or TikTok. Why is it becoming so popular?

Social commerce lets stores leverage the power of social networks and user-generated content on such platforms. What is more, it can be effectively combined with influencer marketing, enabling businesses to reach a wider audience and increase overall customer engagement. In a nutshell, it’s a way to connect brands and customers more directly, build stronger relationships, and leverage the ongoing trend of making purchases online via mobile devices.

The Takeaway

The above are some of the most important trends in the e-commerce industry in 2024. However, you should remember that the trends are constantly changing – with new technologies available and updated legislation in place, we are bound to see new tendencies emerging, so remember to stay up-to-date!

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