As we enter 2024, online shopping continues its rapid evolution, driven by advances in technology and changing consumer behaviors. It is no longer about convenience alone. Understanding shopping trends in 2024 will help you stay ahead in the race.
Today, e-commerce entails designing engaging experiences that are tailored specifically for individual consumers and meet their ever-evolving consumer expectations. For retailers and marketers to remain profitable in such a highly competitive market, staying abreast of trend predictions is vitally essential, especially if they wish to not only survive but also prosper within it.
In this article, we’ll examine some of the biggest online shopping trends in 2024 and how they will shape this year’s shopping season. We will provide insights on how best to adapt to and leverage these changes for success.
Shopping Trends 2024
AI-driven personalization emerges
According to the Pew Research survey, 55% of Americans already regularly use AI, while 44% believe they don’t. Artificial intelligence (AI) will become even more integral to online shopping by 2024 as consumers increasingly expect personalized experiences tailored to their tastes and preferences.
AI allows retailers to analyze vast amounts of customer data, such as browsing habits and purchase history, to deliver highly tailored recommendations and content for shoppers.
AI-powered algorithms can accurately forecast which products customers will purchase based on previous interactions, creating an experience tailored specifically for each person who receives it and ultimately leading to increased conversion rates and customer retention rates. Such personalization also enhances customer experiences as it drives increased conversion rates and customer loyalty.
Retailers seeking to remain competitive must invest in AI technologies that enable them to provide hyper-individualized experiences across all touchpoints—from product recommendations and tailored marketing messages to customer loyalty management systems.
Augmented reality shopping
According to a recent survey, by 2025, one-third of U.S. shoppers are expected to use AR technology for online purchases, with 61% of shoppers saying they prefer retailers with AR experiences. Augmented Reality (AR) has already made significant waves in e-commerce, but 2024 will see its mainstream adoption even further. AR allows shoppers to experience products even before purchasing them online, closing the divide between physical and online retail shopping experiences.
Image by StockSnap from Pixabay
Imagine having the ability to view how furniture would look in your living room or how shoes would fit on your feet right from home! Retail giants such as IKEA and Sephora have already started using AR features in their apps, and more brands will for sure embrace this technology by the end of 2024.
AR technology enhances shopping experiences and can decrease return rates by helping shoppers make informed decisions when shopping for a product online. Considering 71% of consumers would shop more often if AR were involved, implementing AR in online retail platforms will allow retailers to remain relevant by engaging customers with fresh experiences in exciting ways.
Sustainability is gaining momentum
Environmental awareness among buyers continues to gain steam, and in 2024, this trend could emerge as one of the significant determinants of online shopping trends. Do you know that 44% of consumers are more likely to buy from sustainable brands, and this number continues to grow?
More shoppers prioritize eco-friendly products and practices, which has resulted in an upsurge in demand for sustainable brands.
Retailers that can demonstrate their dedication to sustainability-whether through ethical sourcing, reduced packaging, or carbon-neutral shipping, are more likely to enjoy a greater competitive edge than their counterparts who cannot demonstrate such efforts. Consumers want products that align with their beliefs but also are willing to pay extra to obtain such goods or products.
As such, many brands are increasingly adopting sustainable business models by offering recyclable packaging or producing items made of recycled material. Marketers or online shopping app developers that embrace this trend will not only gain environmentally conscious consumers but will also contribute towards creating a greener tomorrow.
As per a report, in 2024, social commerce will reach a 25% penetration rate, with one in four customers shopping via social media. In recent years, shopping directly via social media platforms such as Instagram, TikTok, and Facebook has seen exponential growth. 2024 will likely mark its ascension further.
Platforms like these continue to enhance user experiences by providing customers seamless purchasing solutions without them having ever to leave an app’s interface. They allow seamless browsing and purchase capabilities, all from within the confines of an app.
Social commerce has quickly become one of the hottest trends among younger consumers who rely heavily on social media to discover products and brands. Features like shoppable posts, live-stream shopping events, influencer partnerships, and influencer loyalty schemes have transformed how consumers engage with brands online.
Shopping app developers in 2024 should invest in an effective social commerce strategy by creating engaging content, leveraging influencer relationships, and optimizing shopping experiences on social platforms so as to capture the attention of this increasingly sizeable social shopper segment.
Voice commerce booms
In 2022, 142 million Americans used voice assistants. By 2026, this number is expected to rise to 157.1 million. Voice-activated shopping (or voice commerce) is projected to grow even stronger in 2024 as customers increasingly adopt smart speakers like Amazon Alexa and Google.
Assistant and Siri are included in their daily routines, and they start using voice commands to search for products, purchase them, and track orders through these smart speakers and assistants.
Voice commerce provides convenience by being hands-free, fast, and intuitive. It is, therefore, perfect for busy consumers who can use their voices to reorder household goods, add products to carts, or track delivery statuses quickly and effortlessly.
Marketers looking to take advantage of this trend should optimize their e-commerce platforms for voice search and ensure product information can easily be accessed through voice assistants, which not only provides superior customer experiences but also positions brands to capitalize on voice-enabled shopping’s growing popularity.
Buy Now, Pay Later
Global BNPL transactions are expected to grow by $450 billion from 2021 to 2026, building on a 400% increase.
Buy now and pay later (BNPL) models have seen unprecedented popularity over the years, and 2024 should see further expansion. Customers using these services make purchases upfront before paying in installments without incurring much or any interest. This payment model is particularly appealing to younger consumers and those looking for flexible payment solutions.
Klarna, Afterpay, and Affirm have established themselves as leaders in the BNPL. More retailers are joining these providers to offer alternative payment options that boost sales and customer satisfaction by making high-ticket items more easily accessible. It is ultimately offering greater financial flexibility to shoppers.
Online shopping app developers should include BNPL options in their checkout processes to meet growing customer expectations for flexible payment solutions and increase conversion rates and customer loyalty.
Increased focus on data privacy and security
Recent research reveals that seven in ten internet users feel more vulnerable to identity theft than a few years ago. With digital platforms now offering consumers more shopping choices, concerns over data privacy and security are on the rise. In 2024, shoppers will continue demanding greater clarity over how their personal information is collected, stored, and utilized.
Retailers must prioritize data privacy by employing robust security measures like encryption and multi-factor authentication and being transparent about their practices. Compliance with regulations like GDPR and CCPA is vital while building customer trust by showing that they care about safeguarding customers’ personal information.
As data breaches increase in frequency and severity, buyers have become more selective about where to shop online. Shopping app stores that can assure customers of data security may avoid potential legal ramifications while simultaneously building long-term trust and loyalty among customers.
Conclusion
2024’s online retail landscape promises to be more customer-driven and dynamic than ever. AI-powered personalization, AR shopping experiences, and voice commerce will be trend-shapers that focus on improving the customer journey and meeting ever-evolving consumer expectations.
Since you now understand shopping trends in 2024, you should embrace trends, invest in technology solutions, and adapt strategies in response to consumers’ evolving needs. Doing this will position your brand as an industry leader within the e-commerce ecosystem, driving growth while building customer loyalty over the coming years.
Ready to elevate your mobile shopping experience? At AVOW, we specialize in helping brands leverage the latest trends and technologies in the mobile OEM advertising space. Let us assist you in reaching your target audience, driving engagement, and staying ahead of the competition. Get in touch with us today to learn how we can transform your mobile marketing strategy and maximize your app’s success in 2024 and beyond.