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1. www.aceinfoway.com
eCommerce
Trends 2024
Beyond Definition

2. Outline
How Extensive is the Footprint of the
eCommerce Market?
7 Trends to Check for in 2024
Fundamental Takeaways
AI & ML Enhancing Customer
Personalization
The Rise of Voice-Activated Shopping
Capitalizing on the Power of Social
Commerce
Same-day Delivery for Speed and
Convenience
Embracing Environmental
Consciousness
Bite-sized Storytelling with
Short-Form Video
Direct Messages (DMs) for Customer
Service

3. In 2023, the global eCommerce market is projected to reach a
staggering $6.3 trillion, and this figure is anticipated to experience
continued growth in the coming years. This trend underscores the
increasing profitability of borderless eCommerce for online
retailers. By 2024, online transactions will constitute 21.2% of total
retail sales.
-Insider Intelligence Report
How Extensive is the Footprint
of the eCommerce Market?

4. AI & ML Enhancing Customer
Personalization
01
01
-McKinsey
7 out of 10 consumers now expect brands to personalize ads and
product recommendations, and 76% get frustrated when this doesn’t
happen.
Kristin Smith, MD and Retail Commerce Lead at
Deloitte Digital highlights the pivotal advantage for
eCommerce brands in AI's real-time data processing
and adaptive capabilities, enabling the creation of
personalized experiences. She emphasizes that AI's
immunity to human errors and its continuous 24/7
operational capacity further contribute to its
effectiveness.
It is now simpler than ever for customers to opt for an alternative if they
aren’t satisfied with the experience they get. Making your online shopping
experience special is now a big part of eCommerce.

5. Example: Netflix Recommendation Engine
Personalization driven by AI is highly targeted, employing sophisticated
algorithms to sift through extensive customer data and provide information
tailored to your unique behavior.
As the majority of consumers now anticipate advanced personalization,
eCommerce brands have several avenues to leverage AI for providing
customized shopping experiences. Here are the effective approaches.
AI-driven personalization, exemplified by tailored product
recommendations, relies on intricate machine learning algorithms analyzing
customer data like previous purchases, cart additions, reviews, and
interactions. These algorithms continuously learn and enhance
recommendation accuracy with new data.
Netflix pioneers recommendations through its NRE
(Netflix Recommendation Engine), utilizing algorithms to analyze viewing
history and provide hyper-personalized movie and TV show suggestions.
Personalized Product Picks:

6. The Rise of Voice-Activated
Shopping
02
02
-PwC
More than 40% of consumers employ voice commands to make a
purchase or order something on a monthly basis.
Voice-activated shopping or Voice Commerce, is a sophisticated fusion of
tools and systems crafted to enable online shoppers to engage with and
buy products or services through vocal commands, diverging from
conventional methods like keyboards or touchscreens.
The concept of voice-activated shopping harnesses the capabilities of
conversational eCommerce platforms or tailored websites, to provide
consumers with a more interactive, human-like shopping experience.

7. How It Works?
Converts processed text back
to human-like Speech.
Text-to-speech
Conversion
Enhances natural and engaging
interactions.
Utilized voice attributes for
transaction security.
Voice Biometrics
A customer experience agency
improves safety measures.
Deciphers human speech for
computers.
Speech Recognition
Advanced to understand
various accents and dialects.
AI and machine learning
anticipate user needs.
User Intent Prediction
Offers tailored product
suggestions for a personalized
shopping experience.

8. What Benefits does Voice Shopping Bring to
Retail?
Optimizing for voice search
improves visibility in this
competitive space.
Discoverability
Utilizes customer order histories for
quick reorders.
Automatic Reordering
Prevents customer dissatisfaction
by offering timely notifications.
Delivery Notifications
Boosts customer lifetime value and
encourages repeat business.
Replenishment
Reminders
Enhances consumer confidence
and engagement.
Status Updates
Increases conversions and order
volume with targeted campaigns.
Promotions

9. Capitalizing on the Power of
Social Commerce
03
03
-Statista
Social commerce sales will reach $1.12 trillion by 2024, indicating a
rapid upwork trajectory.
Social platforms serve as the gateway for many individuals, serving as the
entry point for all their online activities, including news, entertainment, and
communication. This paradigm shift is changing how people engage online
and shop, making social platforms more influential in the commerce
experience.
"It’s word of mouth on steroids"
Sandie Hawkins,
TikTok’s GM on Social Commerce

10. Social media platforms is a virtual marketplace where users, particularly
Millennials and Gen Z on visual platforms like Instagram and TikTok, spend
time engaging with friends and brands.
Besides, social shopping solutions provide a budget-friendly avenue to
boost website traffic and expand market reach. When utilized effectively, it
unlocks the potential for impulse e-purchases, a substantial and largely
untapped opportunity in the realm of eCommerce.
Social commerce opens doors for all brands, regardless of size, enabling
individuals to establish their own brand and directly access markets. This
presents significant opportunities for small businesses and entrepreneurs to
reach expansive audiences that were previously inaccessible. Follow up on
the social commerce ecosystem shown here to make informed decisions.
Social Commerce Operates in Three Key Ways
Content-Driven: Authentic discovery
through unique content on platforms
like Pinterest, TikTok, and Instagram.
Experience-Driven: Integration of
shopping within experiences, such
as live streaming or AR/VR, as seen
in platforms like Obsess's "Shop with
Friends."
Network-Driven: Leveraging social networks for buying/selling, from
group purchases for discounts (e.g., Pinduoduo) to influencers driving
sales and earning commissions (e.g., Meesho).

11. Seize the potential of social commerce, where connections become
transactions and possibilities abound.
User
Creators
Small Brands
Third Party Commerce Enablers
Platforms
Big Brands Retailers
Resellers
Influencers

12. Unlock The Future Of Online
Shopping!
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