The e-commerce sector is up for exciting changes in the coming year, with technology leading.
Online shopping has evolved in the last 12 months, becoming more convenient, personalized, and faster. Mobile shopping is gaining popularity, and online marketplace company Alibaba predicts it will accelerate online shopping exponentially next year.
The shift is mainly driven by convenience, and with most people worldwide owning a cell phone, mobile devices have become personalized card machines.
E-commerce business opportunities
To stay on top of these evolving trends, businesses must ensure they have the right technology and features not to lose customers to competitors.
Capturing the right audience on social media, mobile-savvy shoppers want a more personalized e-commerce experience. Alibaba believes that in 2024, e-commerce platforms will use more artificial intelligence (AI) to “curate personalized product suggestions” to make the experience more pleasurable.
Australia’s social commerce industry is expanding, with a projected growth rate of 12.2% this year, propelling its market value to an impressive $2.67 billion.
How social commerce works
Features like in-app shopping, live-streamed product reviews, and influencer partnerships are changing traditional online shopping.
Social commerce is product discovery, reviews, ratings, sharing, recommendations, transactions, and loyalty programs, all tangled into one space. It utilizes the widespread presence of social media platforms while directly promoting and selling products integrated into mobile users’ daily social media interactions.
ALSO READ: The role of social media in e-commerce marketing
Social media platforms like Facebook, TikTok, Instagram, and Pinterest already incorporate native social shopping features. This allows retailers to market directly to consumers while scrolling on social media.
Mobile-savvy audience
Older generations might still be cautious about online shopping via social media. Gen Z shoppers are finding social commerce a more reliable option for shopping. They see social media recommendations from friends and family as improving their shopping experience.
With AI, businesses will now be able to understand the mobile-savvy audience much better. Companies can also provide a more personalized shopping experience.
2024 is around the corner, and businesses are constantly trying to find new technology to stay ahead of the curve and capture a new audience, surviving apps for most of the day and night.
About the author
Mia is a multi-award-winning journalist. She has more than 14 years of experience in mainstream media. She's covered many historic moments that happened in Africa and internationally. She has a strong focus on human interest stories, to bring her readers and viewers closer to the topics at hand.
