As we go into February of 2024, we wanted to predict some top trends to look out for, that we believe will peak this year. E-commerce is forever growing and evolving, and it is key for your business to stay up to date with trends in this fast-paced environment. Taking full advantage of trends and optimising your social media can increase your sales massively as we have seen with many e-commerce businesses in 2023. So, here are some of our trend predictions for 2024…
The Increase of Dupes
Dupes is on the rise when it comes to shoppers. With the cost-of-living crisis, consumers are always looking for the cheaper alternatives. This may come as either an advantage or disadvantage to your company depending on what you sell, however the boom in dupes will be expected as people want the high-end products for the lowest prices. This is especially popular in the beauty and fragrance market. Budget-friendly options are also increasing for a lot of companies, as they want to be accessible to all customers in this economic climate.
Second-hand Shopping
With a rise in eco-conscious shopping, more people are now shopping second-hand. Not only are products cheaper for consumers, but this method of shopping is more environmentally friendly and decreases the need for fast fashion. Last year, we saw a huge increase in apps such as Vinted and Depop, as well as vintage clothing shops, and we believe this will increase more in 2024. This is specifically key for the clothing market- this may affect fast fashion brands negatively.
TikTok is Changing How We Buy
With over 1.677 billion users, TikTok is changing the way consumers buy. Gen Z use TikTok as their main search engine now (over Google) meaning people have trust in TikTok and trust the opinions on the app. There has been a huge increase in sales for many businesses due to products going viral on TikTok, and this influence will continue to grow in 2024. The likes of many makeup products, the Stanley cup and even protein and health supplements have gone viral on the app leading to huge increases in sales. It is so important that your brand is on TikTok if you want to reach the widest audience possible, no matter what your brand sells. TikTok isn’t just about selling, it is about brand recognition and building relationships with customers and potential customers.
The Rise in AI
The start in AI we have seen in 2023 is just the beginning. In 2024, it is predicted AI will take on a huge role in marketing and sales. The rise in apps such as ChatGPT and open AI have had huge impacts on the way companies are starting to market their products. In 2024, it is expected that AI may turn selling more personal to customers (with the use of personalised ads and content). The increase virtual reality can also have benefits on your customers experience of shopping online, as a lot of brands have begun to utilise this feature by making it possible to ‘try on’ your products online.
To summarise, your business should be keeping up with the rapid changes of ecommerce trends to ensure you are generating as much traffic and sales as possible. No matter what sector your ecommerce company is, you can utilise these trends to ensure you are enhancing your customer experiences. The marketing of your brand should be becoming more digital than ever, and the rise of online platforms like TikTok can help you increase your brand recognition and reach more customers than ever.
Here at GNOC, we want to help your eCommerce business grow. We are always giving our expertise and advice to customers, and you can be first to find out industry news by keeping up with our socials and blogposts. For more eCommerce tips and news, follow us on socials, for weekly updates.
