Top 8 Very Profitable Ecommerce Trends for This Year
In this article, we tell you the main Ecommerce Trends in 2024, including some examples of how to adopt these new trends in your online store.
After the pandemic, Electronic Commerce has increased not only exponential growth, but also a change in the purchasing habits of the majority of consumers and companies.
Ecommerce Trends for This Year
Below we tell you 8 Ecommerce Trends that can be very profitable for your online business:
Recurring Purchases or Subscriptions
The subscription E-commerce business model is an effective way to create a constant income stream and convert one-time buyers into repeat customers.
There are three types of subscription models for E-commerce:
- From Curation : Aimed at creating a comprehensive subscription-based business. Food, clothing or personal care are sectors that can take advantage of this business model.
- Replenishment : Allows you to automate the purchase of essential products, often at a discount. Personal care and beauty, pet food or baby products are the most common product categories. Promotes comfort and savings for customers.
- Access : This model fosters a community by offering a “membership” subscription model to a specific group of customers. Members, who pay a monthly fee, receive exclusive discounts and benefits in return.
If you plan to sell subscriptions, we recommend taking a look at Shopify .
With this online store builder , you can install a subscription app and start receiving recurring payments on your products.
Loyalty Programs
Loyalty programs are not new and are used by many traditional businesses.
For each purchase, users earn loyalty points , which they can redeem later and reduce the cost of future purchases.
In addition to rewarding customers for making purchases, you can also reward them for completing other actions, such as sharing on social media, subscribing to a newsletter, or writing a product review .
A loyalty program is a good strategy to retain the acquisition of new customers and make them buy again with attractive offers. However, it requires a consolidated customer base to get the most out of it.
For example, Shopify has some apps that you can integrate into your online store to create loyalty programs in easy steps.
Payment in installments
As Electronic Commerce grows, users see this online payment method as a norm and can be the determining factor when choosing the same product in two different online stores.
The online payment method by installments is what is known as “Buy now, pay later” .
Your customers buy your product now and pay later in recurring installments.
This online payment method offers your customers greater flexibility when paying for medium-high ticket products, generating more conversions for you.
There are a lot of companies like the Klarna payment method , which integrate “Buy now, pay later” into your E-commerce and manage the collections for you.
Other examples widely used among online stores are PayPal, Aplazame or Sequra .
Artificial intelligence
The rise of Artificial Intelligence will be one of the most important Ecommerce trends in the short – medium term, both to improve the user’s purchasing experience and to automate internal processes.
Some uses of Artificial Intelligence in Ecommerce:
- Generate category descriptions and product sheets.
- Translate the online store into other languages.
- Creation of descriptions for paid ads or publications on Social Networks.
- SEO descriptions of product sheets.
For example, Shopify plans to launch Shopify Magic , its virtual assistant that allows you to create product sheets with Artificial Intelligence without having to leave the platform and go to ChatGPT.
Omnichannel Sales
More and more users review and analyze a product before purchasing it through different platforms. Social Networks, Marketplaces or even points of sale or physical stores.
Omnichannel is based on offering a better customer purchasing experience, integrating the company’s different channels (online and offline).
Offering the possibility of purchasing through different Marketplaces such as Amazon or Etsy or integrating your online store in different Social Networks is an Ecommerce Trend that can increase the purchasing options of the most indecisive customers.
Mobile purchases
Mobile purchases already occupy 60% of Ecommerce transactions . In this sense, there are various Ecommerce trends that are defining the future of mobile purchases.
First is Augmented Reality .
For example, an online furniture store can use augmented reality to allow customers to see how a sofa would look in their living room before purchasing it. In this way, user confidence is increased and the return rate is reduced.
Mobile payment is another trend in the world of mobile commerce. Through electronic wallets such as Amazon Pay, Google Pay or Apple Pay , users make purchases from their mobile phone, without having to enter their bank details.
Lastly, voice shopping is another interesting trend. With the popularity of voice assistants like Siri and Alexa , more and more users are using their voice to make purchases and search for products.
B2B eCommerce
After the pandemic, many companies have decided to take the leap and purchase their inventory online.
This is a great opportunity, especially for those companies that sell to other companies, what is known as B2B Electronic Commerce .
In this type of business, a discount is adjusted for each unit, depending on the volume of units acquired by the other company.
For example, in our case, as owners of an online store, we need packaging to send products to customers.
A company that is dedicated to offering all types of packaging for online stores will constantly have orders from companies looking for boxes and packaging accessories.
A B2B online store generally has fewer orders than a B2C online store, although the purchase ticket is much larger .
A combination of both types of online store can give that boost that your business needs.
If you are a producer or designer of a product, consider distributing it through other online stores or physical stores to grow your business.
Video Marketing
When creating a successful product sheet, more and more companies add a video showing how to use the product.
A simple video can have more engagement than any other type of format.
Use paid ads on social networks to show your products through a video that links to the product page in your online store.
Having corporate videos or videos of the launches of different campaigns is essential if you are looking to generate a brand around your products.
Conclusion
As you can see, the E-commerce industry continues to grow at exponential rates and Ecommerce trends such as payment in installments , subscription model or the use of Artificial Intelligence appear, which are here to stay.
As an Ecommerce professional, it is important to be aware of the different developments and opportunities to adapt your E-commerce strategy to new purchasing behaviors and streamline the operations of your business.
What Ecommerce trends do you think there are? Tell us in the comments!
