LATEST ECOMMERCE TRENDS IN 2024

Today eCommerce is one of the biggest growing industries in INDIA. This sector has many big players of reputed names such as AMAZON, FLIPKART, SNAPDEAL, eBay etc. The reason for the popularity of eCommerce is millions of people log to the internet to complete their daily tasks. They also try to buy items online because of lack of time. The mobile revolution has made it possible to purchase items on mobile. There are many start-ups which have eCommerce as their main business feature because of the huge volume of sales and the wide variety of products. They feel that the cost required to start a business in E-commerce is less when compared to other traditional businesses.

Some of the latest eCommerce trends are discussed below –

1. THE CHATBOTS FOR THE FUTURE

The chatbots are typical customer support application. This will handle all the simple queries by the customers. Only the complex unusual problems get routed to customer support. This reduces the manpower capacity for the organization. It reduces the pressure for the employees for even handling the simple problems. This will be one of the cost-cutting methods that will be followed by e-commerce companies in further days.

 

2. DROP SHIPPING

It is a process by which manufacturers will directly sell the product to the customer by avoiding the intermediaries. This trend is going to increase in the coming days and you can label it as one of the latest eCommerce trends in 2024. This method is beneficial for both manufacturers as well as the customer. For the manufacturer, it reduces the cost which is spent on the intermediaries. The customer gets the product with the least possible price. This, in turn, helps the manufacturer to directly sell the customized product to the customer. It even helps in predicting the supply, demand and manage the manufactured products according to the requirement.

 

3. SOCIAL MEDIA

This is the era of social media. It directly promotes the sales and brand of the company. Now even Facebook has come with their own new ad sponsored programs and applications. This helps individuals as well as companies to list their product and increase sales. Social media has become a very powerful tool for E-commerce startups. This helps you to target the customer according to your product and budget. Selling plan should be designed properly so that proper profit margins can be maintained. People use Facebook and other social media platforms at least 5 to 6 times a day. If you post with the proper hashtags, comments, and quotes, then content such as videos, blogs get faster reach. It is always better to be true with the customer than any fake advertisements. Do not just try to commute with the customers. Try to create a community with similar interests so that your products reach people faster. Try to be active in all the social media platforms where you can find your target audience. Your products and services will reach the respective audiences in a faster, bigger way.

 

4. MOBILE APPS

Now, even a small company with ten employees tries to build an app for their company. Just remember three years ago. You can combine 2016 and apps. It was this year which saw a major development in the creation of apps. Mobiles have become an essential device for people. If you have a smartphone and a net banking account, you can complete all your daily tasks with ease. Play stores have been flooded with mobile applications. These services help in giving the individual customer, customized product suggestions and personal alerts regarding discount. This helps them to buy the desired product with the least effort. These applications help in easy sharing of the offers (discounts) and try to get new customers. If anyone is a loyal customer, he/she can give information about the offer/discount and app to the new customers. An app even helps the customers to pay their bill and get contact with the customer support directly without any delay. Mobile apps are not one of the eCommerce trends in 2020, as they have already made a mark in 2016. But yes, their influence will increase to a high level in any industry.

 

5. VIDEOS

Videos are another way of reaching the target audience in a faster way. People now refer to videos more than reading the contents. Sometimes, a video becomes viral when the content of the video is very informative. These videos can be easily posted on social media to increase sales. Two major trends have developed in social media. You guessed right. It is Instagram and Snap Chat. Through these platforms, you can reach the customer directly. This method also reduces the browsing time for customers and increase sales.

 

6. INFLUENCE SELLING – Another E-commerce trend in 2020

Investment in social media influence will fetch better returns in future days. It is better you discover a well-known trustworthy supplier which has considerable reach in social media. You can ask them to endorse your brand. This will create trust in the minds of the customer. The brand will always influence the customer to buy the product. Building the brand with help of influence selling will motivate the customer to go for the call-of-action and to buy the product.

 

7. The Emergence Of Machine Learning and Artificial Intelligence

Artificial intelligence and machine learning will reduce unnecessary hassles in the user buying process. Artificial intelligence will even more personally target the audience and will provide personalized product suggestions and experience. These things will definitely increase sales and bring more profit to every company regardless of industry.

Let us imagine, you have an e-commerce company and mobile repair company in Bangalore. You have a customer care center for both websites. And you have installed chatbots to handle simple queries. A person had bought a mobile from your E-commerce website. Now, after five years, he wants to have a proper maintenance service for the mobile. So, he calls up the other website to book the best technician skilled in mobile repair in Bangalore. Now, when he sends a request via the chat box, the chatbots take up the booking and send an apt response. Chatbots are a feature of artificial intelligence applications. This is one of the latest eCommerce trends in 2020 and in the future, chatbots may replace customer care service centers in all industries.

Conclusion

Major changes are expected in 2024 in the e-commerce field. But this is influenced by many factors such as social media, drop shipping and many more. We have focused on only some eCommerce trends that are going to play a major change this year (2023). These technologies will affect small e-commerce companies and may not affect large companies. If you have a small e-commerce company, it is advisable that you try to remain in tandem with the trend. Then, you can make a name in the industry.