The landscape of e-commerce is constantly evolving, and the year 2024 is no exception. As we approach this new year, it’s important to keep track of consumer trend developments to remain competitive. Fitle will help you explore the 5 major trends that will shape the world of e-commerce in the coming months.
Marketplaces: A Competitive Advantage
Online marketplaces have already revolutionized e-commerce, and in 2024, they will continue to dominate the market. Consumers appreciate the diversity of products, competitive prices, and convenience that these all-in-one platforms offer. Both small and large businesses are converging towards marketplaces to reach a broader audience, creating a dynamic ecosystem where competition drives innovation.
60% of French shoppers state that they prefer e-commerce sites with a marketplace. For 61% of them, prices are more favorable and for 46% the product selection is better. Moreover, 77% of French people find marketplaces more convenient.
Mobile Commerce
With the widespread use of smartphones, mobile commerce is experiencing continuous growth. In 2024, consumers will expect optimized shopping experiences for mobile devices, ranging from user-friendly apps to responsive websites.
Retailers investing in intuitive mobile solutions will be better positioned to capture this growing market share and meet consumer expectations for convenience. It is therefore increasingly important to think about building your site in a « mobile-first » manner, focusing first on the user experience on smartphones before considering desktops. This will optimize your mobile sales, but it is essential not to neglect the desktop version, which still provides high conversion rates.
Furthermore, « mobile-first » optimization goes beyond site design; it also encompasses the development of responsive and functional mobile applications. Features such as mobile payments, targeted push notifications, and streamlined ordering processes can significantly enhance the shopping experience on smartphones.
Increasingly Responsible Consumers
As we have already discussed, consumers’ environmental and social awareness is increasingly influencing their purchasing choices. In 2024, ethical and sustainable businesses will have a significant competitive advantage. Consumers will seek brands that adopt responsible practices, whether it’s in terms of packaging, product sourcing, or involvement in social causes.
For example, we can think of the brand le -1.STORE. LE-1.STORE strives to provide a way to consume less but better. By highlighting clothing designed to last, sourced from craftsmanship or responsible workshops. The goal is to offer well-made products to keep them for a long time. And they don’t stop there; the brand offers services to extend the life of your products with free repairs, second-hand sites, etc.
Discount Prices: The Impacts of Inflation
The year 2024 will be marked by major economic challenges, with inflation and economic fluctuations exerting a significant influence on consumers’ shopping habits. In this complex context, businesses will need to demonstrate exceptional agility to navigate through an uncertain financial landscape while maintaining competitive prices.
To thrive in a constantly evolving environment, adopting discount pricing strategies and targeted promotions will prove crucial. These tools will become essential levers to attract consumers, consolidate their loyalty, and remain competitive in a dynamic market.
The ability to quickly adjust business tactics will thus become a strategic skill for companies looking to thrive during this period of economic uncertainty.
Installment Payments: Soon to Be the Norm?
One of the most striking developments in e-commerce in 2024 is the explosion of deferred and split payments. Consumers are increasingly seeking financial flexibility, and options for deferred or installment payments are becoming a staple for many platforms. This trend allows customers to spread the cost of their purchases over several months, thus enhancing their purchasing power and loyalty to brands that offer these innovative solutions. It is worth noting that in France, several players are key in this area, such as Alma, Klarna, or Payplug.
In conclusion, e-commerce in 2024 will be fraught with challenges that e-merchants will need to address to generate interest and conversion. To optimize this conversion, it is essential to assist your customers during the purchasing process. This is where Fitle comes in by recommending the right clothing size through our questionnaire in just a few clicks.
A solution like Fitle is also crucial for reducing product returns. This is important for customers who are increasingly mindful of the environment, as well as for saving on return shipping costs.
