In the fast-paced landscape of eCommerce, we’re seeing 4 key trends for brands to consider as we move further into 2024…
Channel surfing on the purchase path
The way we shop has changed, again.
According to ecomm platform Rithum’s recent study, almost everyone (three in four, to be exact) checks out three different marketplaces before making a purchase.
Amazon continues to enjoy substantial trust at 42% – and there’s also a noticeable move towards direct-to-consumer sites (34%) and other private marketplaces (21%), so we’d suggest that a robust seller strategy that explores channel diversification, marketplace advertising and social media commerce is key.
Make FOMO a sales weapon of choice
The Fear of Missing Out (FOMO) is still having a significant influence on consumer decision-making, with buyers continuing to make impulsive purchasing decisions in a bid to keep abreast of the latest trends.
How can you leverage this for your Amazon brand?
With 39% of consumers shown to purchase after seeing an ad on the marketplace, you’re well positioned to take advantage of FOMO!
Make use of the most accurate and current data available to you, and rework your strategies and campaigns to tap into the desire for exclusivity and urgency.
In-person shopping is still dropping
There’s been another visible shift towards online shopping, especially among Amazon Subscribe & Save members, with around half saying they prefer their digital subscriptions over in-person retail.
We recommend that you make crafting a seamless customer experience an absolute priority, focusing closely on your inventory management and ensuring the smoothest of transitions between subscription membership and shopping and delivery – poor service and/or frequent out-of-stocks are a big no-no in this climate.
The rise and rise of Social Commerce
We’ve talked before how Amazon are working hard to partner with leading social platforms like Pinterest and Meta – and they’re doing that with very good reason, because the integration of shoppable features within social media platforms is one of the most notable trends around right now.
The lure of the enhanced user engagement that comes from providing clickable product links, in-ad purchases, product tags, shopping catalogues and augmented reality try-ons is strong.
How can your brand put itself in a position to reap the rewards?
We’d say it’s key, if you’ve not begun already, to strongly prioritise optimising and refining your Amazon Store and product catalogues so you’re perfectly placed to provide a seamless and effective online shopping experience across all your channels, social included.
Deciding on the most viable strategies around in this landscape of rapid changes and competing innovations will be crucial for success in 2024 – click here to get our team of experts on board for maximum impact!