Industry Insights
5 e-commerce trends to look out for in 2024
5 e-commerce trends to look out for in 2024
Key developments shaping the future of e-commerce in 2024
E-commerce is a very dynamic field that is developing at a rapid pace. The emergence of AI has given the e-commerce sector another major boost. Where will the journey take us in the coming months?
Our OMMAX experts recently visited the E-Commerce Berlin EXPO 2024, the largest pure-play e-commerce event in Germany. With over 10,000 visitors and 280 service providers in attendance, the event was a great opportunity to hear from international industry experts and leaders. Presentations and personal discussions with other digital experts revealed a number of trends that will have a significant impact on the e-commerce sector in 2024. Here are our top 5 trends:
E-Commerce trend 1: Tech-enabled, data-driven
AI is everywhere, and clean data is critical – without data, no AI. Panelists addressed concerns about a lack of integration of innovative solutions into existing channels. Systems and processes must be fit for the future, with standardization, scalability, and integration being imperative for success.
E-Commerce trend 2: Driving value with sustainability
Sustainability was one of the key trends and buzzwords of the event, with its potential to drive brand value and be a differentiating factor for customer choice. The critical importance of fostering impact and accountability was tackled over different panel and keynote sessions.
E-Commerce trend 3: Supply chain as a backbone
An efficient supply chain is essential to customer value creation, and delivery experience remains the fundament of a successful e-commerce business.
E-Commerce trend 4: Maximizing engagement
Companies have started leveraging immersive experiences and dedicated programs to drive customer loyalty and engagement. In an expert session on “Driving into the future: How the Automobile Industry is Reinventing its Marketing,” virtual spaces and AI-generated characters were discussed as new and valuable ways to engage with the public, e.g., with the goals of securing even more long-term customer engagement and satisfaction in e-commerce marketing.
E-Commerce trend 5: AI in the spotlight
AI remains a key solution in e-commerce, from pricing and content optimization to cross-border/cross-channel business efficiency. However, AI compliance must be prioritized before implementation to fully harness its potential – many businesses still require thorough preparation to tackle these solutions and take full advantage of this trend.
Want to learn more about OMMAX's expertise in e-commerce? Get in touch with our authors!
