Staying ahead of the curve is not just an advantage – it’s a necessity for e-commerce business owners. Navigating unpredictable economic shifts, technological advancements, and changing consumer behaviors is part of the daily business. Having a reliable compass that points towards emerging industry trends is paramount to navigating this successfully.
So, we’ve asked 27 e-commerce experts from across Europe and the UK to reflect on which industry changes the compass needle points to and invited them to offer a sneak peek into the e-commerce trends for 2024 that will help you grow your business. Tap into their collective wisdom and equip yourself to navigate the ever-changing e-commerce landscape with confidence!
Learnings from 2023’s E-commerce Trends
In order to understand the e-commerce trends that will take over 2024, we need to understand how we got here by looking back at 2023. What have we learned from the trends and unforeseen events? Without a doubt, it has been a year that has kept e-commerce business owners on their toes. Marked by one political upheaval after the other, economic hurdles followed that impacted businesses on a global scale. But nothing was more influential on global e-commerce than the release of ChatGPT and other AI tools as a public resource.
AI – a blessing and curse
“The most important learning over 2023 was keeping up with the AI technologies, as there are now endless possibilities in usage and apps. The sky seemed the limit and with that came making important choices as to where to invest our time and resources. Not all AI solutions delivered what we expected or had the expected quality in output. Biggest takeaway: Translating any AI output into a front-end customer experience requires a lot of trust in the chosen AI solution. Keeping up and checking all AI automated outputs has proven to be a full-time job itself!”
Nikkie Lambregts
“Throughout 2023, AI was the big buzzword in the e-commerce industry as we have seen the surge of a variety of e-commerce solutions ranging from enhanced customer personalization, chatbots and virtual assistants, recommendation engines, and visual search, to name a few.”
Su Dias
Global recession’s call to adaptability and efficiency
“And just when we thought we had seen it all, 2023 came around to yet again surprise us with even more unforeseeable events with a massive impact on the local and global economy. And yet – technological progress was unstoppable! However, persistent price increases, unexpected political events, and the lack of qualified staff made it hard for businesses to continue growing. Rather, the topic of recession rose from the ashes and lingered around for a long time. Increased energy prices have shaken even the steadiest industries and longest-established companies to their core. Capital has become more expensive than it has been in the last 15 years. Growth quickly ceased to be the most important KPI for retailers. Instead, investments to strengthen efficiency, flexibility, and automation were key to making it through 2023 unharmed.”
Marcel Siebein
“One of the most prominent lessons was the importance of adaptability and agility in a rapidly changing environment. Brands that prioritized customer experience, streamlined logistics, and leveraged artificial intelligence to enhance personalization and efficiency stood out in an oversaturated market. In summary, 2023 reaffirmed that, in the competitive landscape of e-commerce, continual innovation and a customer-centric approach are pivotal for long-term success.”
Camilo Álvarez
Buy now, pay later as anchor in unstable times
“The increase in the use of ‘Buy Now, Pay Later’ (BNPL) payment options was noticeable across the majority of sectors. It has almost become an expectation that merchants offer BNPL options at their checkout. With the cost of living increasing to levels not seen before, customers required ways in which they could spread the cost of their online purchases. BNPL offered just that.”
Ryan Copeland
Omnichannel commerce was key
“2023 marked a year where the gulf between those retailers offering a truly omnichannel proposition and those that do not widened. Retailers who invested heavily in their digital transformation over the last decade were reaping the rewards of utilizing powerful customer data to leverage the value of their stores across a much more digitally focused customer journey and providing more personalized experiences.
The shift back to the physical store was more aggressive than many had expected following the pandemic. Retailers who made it easy for consumers to move between online and in-store shopping, minimizing obstacles in the purchase journey, were the ones who benefited.”
Richard Lim
The shift towards customer retention
“After the e-commerce boom during COVID-19 times, purchasing power declined, primarily due to emerging conflicts and ongoing inflation. Consequently, surviving as a small online shop with a limited marketing budget became even more challenging compared to previous years. It’s also worth noting that the cost of customer acquisition increased significantly.
As a result, many online retailers shifted their focus towards retaining recurring customers. Especially during peak seasons like Black Friday, Cyber Monday, and the Christmas holiday period, numerous shops opted to offer fewer steep discounts and instead concentrated on providing attractive deals for loyal customers to ensure that each purchase remained profitable.”
Samuel Vogel
“Many businesses started prioritizing emotional resonance, crafting human-centric designs, fostering sustainability, and leveraging interactive content. The industry learned that community-building and empathetic experiences enhance loyalty. In essence, 2023 taught e-commerce that success lies in evoking feelings, creating a sense of belonging, and building lasting emotional connections.”
Anas Elimani
“Established brands are impacted by lower margins and less spending by consumers. We see a consolidation of costs and reality checks in terms of growth plans. These brands shift from growing via new customers and markets to raising efficiency for existing traffic. New brands need to be more creative than ever in finding an audience.”
Patrick Rosenblatt
Social selling came, sold, and stayed
“In 2023, the e-commerce industry learned the importance of social channels for commerce. With one-third of businesses planning to boost social media marketing, customer experience on these platforms has become crucial: 78% of consumers are more likely to purchase and 77% prefer brands they have good social media interactions with.”
Carlotta Zorzi
Sustainability over brand recognition
“Despite macroeconomic challenges and the rise of price-competitive platforms like Temu, sustainability remains a key success factor in e-commerce, especially for niche players. These smaller businesses distinguish themselves in a crowded marketplace through their commitment to eco-conscious principles, resonating with consumers seeking environmentally responsible alternatives. A significant trend is the overwhelming preference of the majority of Gen-Z shoppers for sustainability over brand recognition, indicating a shift towards more responsible consumerism.”
Efe von Thenen
“One significant observation that was made last year concerns the continuing trend toward sustainable consumption. Sustainability became an important purchasing criterion for many consumers. This is particularly evident in the fact that sustainable shipping options are increasingly being offered in the checkout area and environmentally friendly shipping partners are being used.”
Felix Ullrich
Need for speed and convenience
“Consumers expect fast, reliable, and convenient shopping experiences, and e-commerce businesses that can deliver them are more successful. This includes offering quick shipping options, transparent communication regarding delivery, and integrated payment methods. Convenience has become the hallmark of successful e-commerce experiences, with businesses prioritizing speed, free returns, integrated payment options, and seamless shipping to enhance customer satisfaction.”
Henning Groß
Top 10 e-commerce trends to pay attention to in 2024
Got the aforementioned industry changes covered? Well done! Still, the e-commerce landscape continues to evolve at a rapid pace. The forthcoming year promises to be another transformative period for online store owners. Without further ado, here are 10 top trends that our e-commerce experts identified as worth keeping an eye on in the upcoming months.
Trend 1: Smart Shipping and data-driven logistics
“Personalization driven by Artificial Intelligence will be the most important trend in e-commerce. AI will enable businesses to analyze large volumes of data to offer highly personalized shopping experiences and accurate product recommendations. Moreover, it will not only improve the user experience but also optimize inventory management and logistics, reducing costs and enhancing efficiency.”
Fernando Criado
“I foresee that 2024 will be the year to go beyond the beaten path of AI and do more with data insights than ever before. Once we have accepted the fact that everything has a data trail now, we will realize that it is not enough to leverage these insights but high time to connect them with each other to create more sophisticated solutions. Or, to put it in a concrete example: We will be able to automate the carrier selection based on so much more than just the best rates, e.g. by taking speed and quality into account, combining this with personal preferences like time of the year, location and dimensions and weight of product to be delivered. In logistics, we look a lot at robots as the summum of technological advancement – but wait until you have seen what Smart Shipping can do!”
Huib Adriaans
Trend 2: Customization and personalization through data insights and AI
“AI-powered technological advancements and machine learning ensure more accurate product recommendations. This enables online shoppers to move beyond generic categories and make more personalized searches like “my size” or “my style”. By offering these smart and precise ways for selecting the right product, online stores will significantly minimize their amount of returns. And reducing returns is paramount, as a strategic shift towards a more intuitive, efficient, and customer-focused e-commerce landscape.”
Robbert Hoogstraten
“I agree that we’re likely to see more e-commerce platforms offering unique, customized product designs and recommendations, which cater to individual preferences and behaviors. However, this level of personalization will go beyond just product recommendations. It will extend to customizing user interfaces and marketing strategies, thus helping businesses enhance customer engagement and drive a higher customer lifetime value.”
Richard Lim
“Personalization will be augmented by more advanced AI algorithms, which will analyze user behavior patterns with greater accuracy. AI-driven chatbots and virtual assistants will offer more sophisticated customer service. These advancements, coupled with more immersive shopping experiences and more effective personalized marketing, will define a more efficient, sustainable, and customer-centric e-commerce landscape for 2024.”
Gabriel Seijo Leiro
Trend 3: Inclusive commerce as legal imperative and sales booster
“Did you know that approximately 15% of the world population has some kind of disability? It’s not just inclusive and the right thing to do to enable people with disabilities to shop online. It’s required by law! European e-commerce merchants will have to make their products and services accessible for people with disabilities by the 28th of June 2025 due to the European Accessibility Act. In America, this is already the case. As a major precedent, Target Corporation was sued by The National Federation of the Blind and fined 6 million dollars for non-compliance with The Americans with Disabilities Act. In other words, 2024 is the last possible time for EU merchants to review their website’s user experience and make the necessary improvements to avoid possible lawsuits in the future. Big plus: Better accessibility will also generate a guaranteed boost for your sales and ROI!”
Thien-Lan Weber
Trend 4: Strategic business automation with stackable solutions
“Differentiating yourself from others while optimizing business operations will clearly become a path to success for business owners in 2024. With the high interest rates, it is nearly impossible to make big investments impulsively. So, you will have to consider even more carefully which big changes to make, and in what order. For example, modernizing your production facilities, extending your logistics infrastructure, or investing in new software. In terms of the latter, there is a clear call for stackable solutions that can be easily installed on top of, or implemented with, already existing infrastructure to gradually automate manual workflows and save costs while still expanding the business without too radical changes.”
Marcel Siebein
“Many companies still grapple with outdated systems that are not primed for AI innovations. Consequently, there will be a focus on enhancing the infrastructure, ensuring seamless integration of essential systems like ERP, PIM, and WMS. Each system will contribute to a unified data repository, facilitating the user experience. Because of this, composable commerce will also gain traction, guiding these internal transitions within companies.”
Jorn de Vreede
Trend 5: AR, VR and robotics in retail
“Robotics in warehousing will remain predominantly accessible to larger operations, highlighting the ongoing challenges for most warehouses in terms of staffing shortages and increasing wages. This will drive the necessity for optimizing internal processes with systems for better warehouse management.”
Constantin Liebmann
“A standout feature of 2023 has been the successful adoption of Augmented Reality (AR) and Virtual Reality (VR) in the e-commerce industry by big brands such as IKEA, Adidas, Tommy Hilfiger, Nike, Valentino, Puma and Walmart, to name just a few. I think we’ll see a greater reliance on first-party data for AI-driven personalization and behavior-based product recommendations, as well as interactive AI-driven buying journeys (including chatbots, digital twins, and AR/VR) that have a greater focus on immediate buyer intent.”
Ian Jamieson
“I expect to see a continued integration of AR and VR technologies to improve products and services across all areas, from marketing to supply chain to retail and so on. This connects to the importance of agility and ensuring merchants are able to make great decisions quickly to match the speed of innovation required to thrive in this industry.”
Carlotta Zorzi
Trend 6: Leveraging in-house and micro fulfilment centers more
“2024 will be the year that many more shops will opt for in-house fulfilment to cut costs and raise the minimum amount for free shipped orders. This will especially be the case for businesses that focus on personalized packaging and product sampling to grow their loyal customer base. Why? Because logistic costs are rising, and offering free shipping for orders under $50 will most likely become too expensive to sustain.”
Samuel Vogel
“A notable shift is expected in logistics with the rise of micro fulfilment centers. Micro fulfilment centers are tailored to e-commerce’s unique requirements for handling numerous small orders instead of traditional, larger, pallet-based shipments. They are smaller, more strategically located warehouses that will be crucial for facilitating faster, more efficient last-mile delivery. The perfect solution to address consumer demand for rapid delivery. Perhaps they will even gradually replace older, less e-efficient fulfilment solutions.”
Constantin Liebmann
Trend 7: Recommerce and sustainability as distinguishing factors
“With all the climate disasters that happened in 2024, businesses that make sustainability a high priority by adopting eco-friendly and transparent practices will thrive. This includes everything from the use of sustainable packaging materials to the promotion of ethical and eco-friendly products.”
Fernando Criado
“I think the biggest upcoming trend in 2024 will be recommerce and supply chain transparency, especially in relation to the product passport required by the EU in the upcoming years. I believe consumers are done with empty statements like: “We are a sustainable company”, or “This is a sustainable product”. Instead, they will want to buy more second-hand products and demand to be able to see that you take real action towards sustainability. The specific origin of each and every component of your product must be visible. Where and how to register this data is just the tip of the iceberg; the real challenge here lies in sub-sub-contractor management.”
Nikkie Lambregts
“The biggest influence in the coming year will be more opportunities for traceability and recyclability. This will also bring new packaging and products onto the market, which in turn will bring new challenges and adaptations. I think consumers will pay even more attention in 2024 to what they consume and the company behind it.”
Isabell Kochan
Trend 8: Q-commerce & real-time stock inventory management
“Q-commerce, or quick commerce (delivering products typically within an hour of ordering), is going to be a strong trend during 2024. It combines the convenience of online shopping with the immediacy of physical shopping. Brands that best solve the combination of online and in-store shopping will be the most relevant in the coming year.”
Andrés de España
“Real-time stock inventory management is another pivotal trend, aligning with consumers’ expectations for transparent and instant shopping experiences. This not only enhances customer satisfaction but also revitalizes physical stores through Click and Collect services, attracting high-intent customers who tend to spend more.”
Benjamin Lang
Trend 9: Boosting the customer experience
“Your customers are less likely to complete a purchase if they experience a slow-loading website. Online shoppers are impatient and want to quickly find and order what they are looking for. As a consequence, page load times directly impact the conversion rates on your website. With this in mind, I think we will see modern frontend solutions becoming a much more prominent fix in merchant tech stacks to improve page speed and conversions.”
Ryan Copeland
“We see that those retailers who care most about their brand differentiation are moving towards frameworks in the presentation layers of their stores that allow for more distinct experiences. We’ve seen how low-code / no-code and theme-based CMS tools have become ubiquitous in recent years. They allow merchants to build beautiful websites quickly and manage their content easily, but many websites can end up looking very similar. The most brand experience focused have learned the lesson and are now looking to differentiate themselves with more innovative designs and immersive experiences.”
Gonzalo de Caralt
“Storytelling commerce will thrive, as brands harness narratives to forge emotional bonds. Live commerce events will dominate, fostering real-time connections between brands and consumers. In 2024, e-commerce is not just a transaction; it’s an emotional journey, embracing technology to weave stories, connect intimately, and resonate with the evolving desires of the emotionally-driven consumer.”
David Pehl
Trend 10: Solutions to offset the rising shipping costs
“In response to the rising shipping costs, e-commerce merchants are increasingly daring to charge for returns and shipping, a trend expected to persist in 2024. Notably, the upcoming year will see a focus on optimizing delivery costs by offering delivery choices and leveraging more sustainable shipping to parcel shops and lockers. Merchants benefiting from lower shipping rates will differentiate rates and return costs. Additionally, a key strategy involves optimizing shipments based on destination and parcel size or weight, recognizing their impact on rates. By embracing these trends and utilizing insights from a multi-carrier setup, businesses can enhance delivery speed, quality, and competitiveness.”
Bas Smeulders
In conclusion, the dynamic nature of e-commerce demands adaptability from businesses to thrive in this ever-evolving landscape. The top trends outlined by industry experts for the coming year offer a glimpse into the exciting developments that we can expect. Stay informed, stay adaptive, and embrace the exciting future of e-commerce in 2024!
