The landscape of international eCommerce is evolving at a rapid pace – driven by technological advancements, changing consumer behaviors, and a globalised marketplace. As we enter 2024, it’s crucial for eCommerce businesses to stay ahead of the curve and adapt to emerging trends that will shape the future of cross-border commerce.
Trend: In 2024, personalised customer experience is no longer a luxury; it’s an expectation. By 2024, it is expected that 80% of consumers will only engage with brands that offer personalised, tailored shopping experiences.
Implication for Businesses: To thrive in the international eCommerce arena, businesses must prioritise personalisation. This involves tailoring product recommendations, emails, and content to meet individual customer preferences. Advanced data analytics and AI-driven technologies can play a pivotal role in understanding and catering to the unique needs of diverse global audiences.
Trend: Social commerce generated $475 billion in sales in 2020, and is predicted to generate $3.37 trillion by 2028, growing at a 28.4% annual rate.
Implication for Businesses: Establishing a robust social media presence is no longer optional. Businesses need to leverage social platforms strategically to connect with their audience, build brand loyalty, and drive sales. With growing social sales platforms like Instagram Shopping, Facebook Marketplace, Pinterest’s “Shop the Look”, TikTok Shopping, and Snapchat’s Dynamic Ads, eCommerce sellers can no longer afford to be behind the curve. Integrating eCommerce functionalities (such as Tiktok selling) directly within social media channels can enhance the shopping experience for consumers.
Trend: With consumers looking for a wider range of ways to pay, sellers need to ensure they’re offering a variety of payment options. By 2024, it is expected that BNPL will account for 10% of all e-commerce transactions.
Implication for Businesses: Providing diverse digital payment options, is crucial for accommodating the preferences of global customers. Offering popular BNPL options based on your customer’s region can attract a broader customer base and boost sales. Collaborating with BNPL providers and integrating these solutions seamlessly into the checkout process will be essential for global competitiveness.
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Trend: Omnichannel is becoming increasingly important in e-commerce. By 2024, it is expected that 75% of retailers will have implemented an omnichannel strategy.
Implication for Businesses: Creating a seamless shopping experience across online, mobile, and in-store channels is paramount. Businesses should focus on integrated inventory management, unified customer profiles, and cohesive branding to deliver a consistent experience across all touchpoints.
Trend: Voice-enabled search is becoming increasingly popular in e-commerce. Analysts say 20% of households worldwide will own smart home technologies by 2025.
Implication for Businesses: Optimising websites for voice-enabled search is crucial for enhancing discoverability and increasing sales. Businesses should adapt their SEO strategies to align with the natural language queries of voice searches.
Trend: 56% of consumers who have used AR when shopping claim it encouraged them to make a purchase
Implication for Businesses: Embracing multimedia is key to engaging global audiences. Businesses should invest in visually compelling content, interactive AR experiences, and immersive showcases to enhance the online shopping journey.
Trend: In 2024, the global loyalty program market is projected to reach $7.6 billion. 80% of consumers claim to purchase more frequently from a brand after joining its loyalty program.
Implication for Businesses: Building strong loyalty programs is crucial for customer retention and repeat business. Tailoring loyalty incentives to match the preferences of diverse international customers will be essential for sustained success. With the growth of personalised experiences and mobile shopping, consider using a mobile-friendly rewards program to resonate with your customers and increase retention.
As businesses gear up for 2024, staying attuned to these international e-commerce trends will be instrumental in navigating the evolving global retail landscape. Embracing innovation, leveraging advanced technologies, and understanding the diverse preferences of a global audience will position businesses for success in the dynamic world of cross-border e-commerce.
If you’re ready to grow your business, and need a dependable, experienced fulfilment partner, reach out to us today and discover the difference Fidelity Fulfilment can make in 2024.