Shopping behaviors, artificial intelligence, the rise of discount and refurbished items…
The e-commerce sector will need to adapt to numerous changes this year. E-commerce is now a cornerstone of global commerce, pushing companies to follow trends to offer increasingly optimized and distinctive online shopping experiences.
With growth forecasts between 15 and 20% for 2024, e-commerce opens up a crucial virtual storefront for companies, allowing them to reach a wider audience than ever before.
However, despite this strong digital presence, significant challenges loom, and every e-commerce player must rise to meet them to thrive in this constantly evolving landscape.
1 – Customer Experience Optimization through Artificial Intelligence
According to Markets and Markets, the share of AI in global commerce will reach $24.1 billion by 2028. Therefore, AI will be one of the major trends in e-commerce in 2024. With the rise of ChatGPT, many companies are using AI to enhance the customer experience, notably through chatbots.
2 – Hyper-personalization: A Major Asset of E-commerce
Hyper-personalization marks an advancement in customer engagement. In 2024, this trend intensifies, with personalized product recommendations, shopping journeys, and exclusive offers aimed at enhancing the customer experience, strengthening loyalty, and optimizing conversion rates.
3 – Diversification of Online Payment Methods
The economic situation in Europe has made payment a major issue. Companies are diversifying payment solutions to simplify the process and increase conversions. Deferred or installment payment is on the rise, with 45% of French consumers adopting it for purchases over €1,000.
4 – Sustainability at the Core of E-commerce
Sustainability is essential. In 2024, companies will need to adopt ecological and responsible practices, such as recyclable packaging and respect for workers' rights, to meet consumer expectations and remain competitive.
5 – The Rise of Discount in the E-commerce World
Discounts continue to grow. In 2023, Temu and Lidl stood out with competitive prices and significant discounts. In 2024, e-commerce retailers will need to balance price reductions and quality to remain competitive.
Despite the challenges, e-commerce in France continues to grow, offering numerous opportunities for innovation and growth for businesses.
Source: COMK
