At the beginning of November 2023, the Adobe communications team published a team of the six trends that dominated this year and will stay important for the following year.
We'll briefly outline these 6 trends so you can take note and leverage them to enhance your e-commerce business results.
Adobe's most popular eCommerce trends in 2024
The volatile global economy, declining consumer demand, and lower client budgets might be disheartening.
However, in this article, we'll discuss trends influencing the ability to attract new customers and retain existing ones despite the less-than-optimistic financial global situation. Keep reading to understand how digital commerce is evolving for you and your clients. Additionally, you can enhance the knowledge gained with our previous article on performance marketing secrets in the eCommerce business.
- The first trend Personalization at scale keeps coming out on top. The majority of innovations in the industry keep circling back to personalization. This is no surprise, as, when it’s done well, the results can make you beam. According to a recent BCG study, customers are 110% more likely to add additional items to their baskets and 40% spend more than they planned.
- The second trend AI boosts growth without expanding costs or the workforce. Wondering how to increase commerce revenue, analytical intelligence, and return on commerce investment without added spending or operational staff? The solution lies in AI. For instance, AI can seamlessly link customers to related products through recommendations if you aim to enhance sales by simplifying customer-product connections.
- The third trend Brands are shifting to own your audience. Recognizing the importance of owning customer data instead of renting from third parties. While currently seen among industry giants, costs are dropping, and capabilities are rising.
- The four trend Agility is crucial for reaching new audiences. Stores must be more agile to capitalize on emerging opportunities swiftly. For instance, a new TikTok channel gains popularity covering a product you could sell quickly. How do you seize this limited-time opportunity? Your platform needs to be flexible enough.
- The fifth trend Buy Now Pay Later (BNPL) is booming, especially as the economy affects both B2C and B2B consumers. 67% use BNPL for at least half of their online purchases, with 35% using it "most of the time." Payment functions provide valuable customer insights, aligning with trends on personalization at scale and owning customer data. AI, automation, and personalization will further simplify and streamline payments.
- The six trend The audience is evolving. By 2027, there will be six generations of online shoppers, with Gen Z now the largest at 2.5 billion globally. As the primary drivers of growth, they'll become the biggest online spenders. Being digitally native, they prioritize mobile experiences, spending about three hours daily on mobile and up to six hours on social platforms like Instagram and TikTok. Ensure your platform is mobile-first and caters to various formats, as this generation heavily researches social channels for purchasing decisions.
Here, you can explore a detailed description of the trends from Adobe.
Summary
Despite the unstable economic situation worldwide, businesses are exploring new ways to improve and boost sales.
We hope our article will help you create an effective business strategy this year. Subscribe to our blog to receive timely and valuable information for free, enabling you to enhance your profits and outcomes in the eCommerce business.
