It’s probably no surprise that many transformations revolve around artificial intelligence (AI). This seemingly omnipresent technology is reshaping business operations and the customer experience.
But it’s not the only thing to be making an impact. Alternative realities are helping bridge the gap between in-store and online shopping, while a rise in conscious consumerism is seeing more eCommerce merchants adopting green technologies.
Still, it is with AI that we start our exploration of the current tech landscape, focusing on its role as the newest member of many an eCommerce marketing team.
2023 saw artificial intelligence's democratization with the mass adoption of generative techs like ChatGPT, DALL-E, and a host of purpose-specific products built to generate everything from optimized product descriptions to conversion-focused ad creatives.
These user-friendly tools allow anyone to leverage AI for enhanced productivity, offering a transformative approach to marketing and customer engagement strategies.
Some of the most common applications we’ve seen include:
The use of GenAI is likely to become more widespread in 2024 as merchants start to realize its full potential and navigate its pitfalls.
The good news is that, you can depend on GenAI to achieve:
We can also expect AI to play a key role in predictive analytics and sentiment analysis. These applications will enable reactive marketing based on consumer behavior, trends, and insights extracted from large data sets like customer reviews and social media comments.
By embracing AI trends in 2024, you can bring customer satisfaction to the roof and proactively adapt to market dynamics, make data-driven decisions, and gain a competitive edge in the dynamic eCommerce landscape of 2024.
There have been concerns about AI-generated content and its place in eCommerce marcomms - primarily around trust, authenticity, and how customers might respond to such content. It’s a huge learning curve. But if you can strike the right balance between automation and maintaining genuine connections, AI can bring big wins for efficiency and capacity.
We’re all aware of the significant growth in eCommerce over the last few years, and with more online transactions taking place than ever, there are more cybercriminals out there hoping to profit.
E-skimming, in particular, is a growing problem. This is where cybercriminals inject malicious code into a website to capture sensitive data such as credit card details during online payment.
According to a recent Visa Biannual Threats Report, the last half of 2022 saw a 174% increase in e-skimming attacks compared to the start of the year.
Because of this, merchants have a growing responsibility to protect customer data. And they’re leveraging technology to do it. Along with increasingly secure payment gateways, some of the more advanced technologies we’ve seen merchants adopt this year include:
AI emerges as a formidable ally in the battle against next-generation cyber threats. Experts predict that organizations will harness the power of AI, automation, and machine learning algorithms to detect and respond to attacks.
As a result, we expect to see more widespread use of advanced AI-driven threat detection. These systems use AI to identify and respond to potential threats in real-time quickly, enhancing overall cybersecurity.
With AI's ability to process vast amounts of data, organizations can enhance their security measures, accurately identify attacks, and proactively strengthen their defense systems. Stay one step ahead of cybercriminals with AI as your ultimate guardian in 2024.
We can't talk about transformative tech without discussing the role of AR and VR in eCommerce. These immersive technologies are reshaping how consumers engage with products, adding a layer of realism to the digital shopping experience.
One of the standout applications gaining traction is the virtual try-on, with AR technology allowing shoppers to visualize products in a realistic manner. This works particularly well for fashion and beauty brands.
Another popular use case is product visualization, where shoppers can place a digital item in their physical surroundings - like seeing how a piece of furniture would look in their home.
These experiences used to be confined to big-name brands, but with AR and VR apps built to integrate with Shopify, we’re seeing more merchants use them to boost engagement and conversion rates.
In the coming months, we can expect even more seamless AR and VR technology integration into eCommerce platforms, with applications like product demonstrations and virtual shopping events becoming more popular.
There’s also likely to be a synergy between these alternative realities and AI, allowing shoppers to customize products, visualize them in real-world settings, and receive tailored recommendations based on their preferences and behavior.
Voice-activated devices like Amazon's Alexa and Google Assistant are now commonplace in homes worldwide, and they’re becoming a more common way for consumers to discover and purchase products.
In fact, the value of eCommerce transactions initiated through voice assistants rose by over 400% between 2021 and 2023.
Because of the potential to enhance the user experience, advancements are being made to optimize voice search capabilities, leveraging technologies like AI and natural language processing (NLP).
This integration allows users to engage in a more conversational and intuitive shopping journey and improve accessibility. Customers can effortlessly seek product recommendations and place orders, all through simple voice commands.
Voice commerce is still in its infancy, but it’s definitely something to explore in 2024. The technology will likely become more accessible, and progress will be made to eliminate concerns around privacy.
AI-powered voice assistants, in particular, will undergo significant enhancements, offering capabilities beyond basic voice commands.
Expect to see personalized product recommendations that factor in individual customer preferences and past purchase history, adding a layer of tailored service to the voice commerce experience.
Smart merchants in 2024 will optimize content for voice search, which requires adapting to conversational queries and user interactions with voice assistants. You can prioritize long-tail keywords and natural language phrases that align with how shoppers speak rather than relying solely on short phrases for SEO.
Environmental, social, and governance (ESG) is a hot topic in every industry, and eCommerce is no exception. Merchants and consumers alike increasingly prioritize sustainable and ethical practices, and technology has a big role.
Some of the key advancements we’ve seen focus on supply chain and inventory management, such as:
Looking forward, we can expect a surge in tools and technologies designed to increase the transparency of sustainability claims - like carbon footprint calculators integrated into eCommerce platforms, providing real-time assessments of the environmental impact of each transaction.
We're also likely to see a rise in tools that enable circular economy initiatives, such as product lifecycle trackers. These tools would allow consumers to trace the journey of a product from creation to disposal, encouraging responsible product recycling and reuse.
In 2024, you should start enhancing the sustainability of your products, for example, opting for low-impact materials that contribute to the product's durability and have minimal environmental consequences.
Also, pay attention to avoid combining materials that are difficult to recycle and instead prioritize those that can be easily recycled within the intended country of the product.
By incorporating these measures, your product's sustainability can experience a remarkable improvement, positioning it to compete effectively with the emerging green tech trend.
The REVIEWS.io solution has undergone its fair share of technological advancements this year. In particular, we’ve focused on leveraging AI to enhance our product’s capabilities, enabling more effective review management.
We’ve also rolled out many new features, upgrades, and integrations to improve the user experience and help you do more with the review content you collect. Check out our tech advancements in full in our quarterly product update posts:
