A guide to the major e-com trends and sales events Introduction: a competitiveedge in a changing world Online shopping continues to permeateevery aspect of retail. While growing in-storefootfall remains a challenge for many retailers, Yet the year ahead will bring challenges of anew kind. With a global cost-of-living crisis,household budgets will continue to feel the But while cost may be the biggest factor facingecommerce in 2024, it is far from the onlyone. New technologies continue to createnew possibilities. They also raise consumer In other words, 2024 presents a lot to thinkabout. This guide will help. It exploressome of the emerging trends in retail andhow these could impact each of the major 1. Consumers grow price savvyas the cost-of-living bites The latter months of 2023 brought newpressures on household budgets. They showno immediate signs of abating. Some 58% A squeeze on spending impacts all retailers.However, e-commerce providers need to workharder to shake an assumption among some 2. The continuing rise of social Mobile devices already account for 71% ofretail traffic. They generate 61% of onlineshopping orders. The trend is set to continue Meeting the needs of mobile shoppers willmean far more than ensuring mobile-friendlyversions of web shops and apps. Some 78% Many of the trends impact e-commerceemerged over recent years and wereaccelerated by the pandemic. Others have 3. The centrality of the customer Consumers do not feel that shopping onlineshould lead to a compromise of the customerexperience. They expect help when they want Some 87% of consumers spend less with,or completely abandon, brands that don’tprovide great customer service.5 There’s a 4. A non-negotiable approach to Retailers will continue to take different viewson whether returns should come at a cost.But it’s increasingly clear that if a shopper Surveys show that 67% of shoppers will checkthe returns policy before buying online. Andwhen they find that the process was easy, 92% 5. Sustainable shopping and Environmentally-sustainable retail is becominga priority for customers and regulators alike. In addition, the European Union’s CorporateSocial Responsibility Directive, coming intoforce in 2024, will compel many retailers to 6. Personalization as a priority New technologies present the possibility ofpersonalizing content to each consumer.And this is exactly what shoppers expect. The data that e-commerce companies collectcreates huge opportunities to personalize theonline shopping experience. However, a studyof 350 retailers found that just 16% considerthemselves expert in data harnessing. Some 7. Reliable and quick delivery Too many online retailers invest in getting theproduct right and creating the best shoppingexperience, only to fall at the final hurdle. And reliability really matters. Some 65% ofshoppers will abandon a retailer after two tothree late deliveries and 81% will call it a day As shoppers continue to demand higherstandards from retailers as 2024 progresses, Delivering in 2024: how the deliveryexperience shapes the customer cuts WISMO – where is my order? – calls. Butjust as younger shoppers expect to completetheir purchase through apps and social media, The ability of online retailers and web shops torespond to these trends will help shape their Mattias Gredenhag, Chief Technology Officerat nShift says, “How and when items aredelivered is part and parcel of the impression Build the brand through deliveries– byusing the right delivery management software,retailers can take control of the fulfillmentprocess. They can ensure that it is their brand– and not that of a marketplace – that features “By creating an end-to-end deliveryexperience, from checkout to returns, retailerscan transform the customer experience Providing cheaper and more sustainablealternatives– as household budgets feel thesqueeze, some shoppers will seek cheaperdelivery options, even if it means waiting This software should: Help personalize the experience byproviding relevant delivery options– in aworld where customers seek an experiencethat suits their specific needs, it’s crucialto provide them with the delivery option A quick and easy returns process– theright software must ensure retailers canmanage the delivery process in reverse. And Relevant communication across channels – it’s already clear that consumers expectrelevant communication about the status of Dates for the diary: responding tothe major sales events of 2024 Success in 2024 will involve responding torelevant trends and behaviors throughoutthe year. But online retailers also need to Things to look out for this year: Continuing growth of the celebration–as global consumers look for new ways to Let’s take a brief look at some of the big ones. But average spending per person falling – with would-be lovers looking for dealsand discounts to celebrate the festival as Greater personalization– as shopperssearch for gifts with personal me