What Will Define Global E-Commerce Trends in 2024-25?

The global e-commerce market is projected to reach a value of US$6.3 trillion this year, highlighting the incredible growth and potential of online shopping. In this era, businesses are increasingly focusing on providing a seamless e-commerce experience, catering to the evolving needs and expectations of consumers worldwide.

What Will Define Global E-Commerce Trends in 2024-25?

Mobile E-commerce

Mobile e-commerce is gaining significant traction, with a notable surge in consumers using their mobile devices for online shopping. Remarkably, in China, over 50% of all online purchases occur through mobile devices, while in the US, 91% of respondents have made mobile phone purchases. To adapt to this mobile-first trend, retailers are advised to optimize their websites for mobile use, ensuring swift loading times and a user-friendly interface. A positive mobile user experience greatly influences customer retention and conversion rates.

Live-streaming E-commerce

The most prominent live-streaming e-commerce in China has gained attention allowing consumers to interact with and make purchases from retailers within one app. The integration of live-streaming shopping features on social platforms, such as Facebook and Instagram, is also being explored, indicating the potential for a broader adoption of this trend.

Personalization

Personalization remains a key focus in e-commerce, albeit with innovative approaches, particularly with the decline of third-party cookies. The rise of AI tools offers diverse capabilities, including visual search and personalized product recommendations, enhancing the overall shopping experience for customers. Additionally, dynamic pricing tools driven by AI enable retailers to adjust prices based on individualized factors, aiming to offer competitive pricing and personalized shopping experiences.

Payment Options

Offering a variety of payment options is crucial for appealing to a global audience of shoppers. Beyond traditional card payments, digital wallets like PayPal and popular app-based payment methods such as WeChat Pay and Alipay in China are gaining significant traction, providing enhanced data privacy and convenience for consumers.

Conclusion

 Embracing these trends and catering to the diverse needs of online shoppers can significantly enhance the competitiveness and appeal of e-commerce businesses in the global market.

Buy Now Pay Later options have also become increasingly popular, often because of the function that allows customers to break down the cost of a purchase into smaller payments