#23 - 2024 is almost here. What does that mean for the Ecommerce Market?
#23 - 2024 is almost here. What does that mean for the Ecommerce Market?
B2B Online 2024. Global Ecommerce Trends. Mobile Commerce. Omniful gets funded. Shopify Investor Day. Ecommerce Prague 2024.
Hey there 👋
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Now let’s dive into the Ecomm news of the week 👇
5 - B2B Online is just getting started
In 2024, B2B online commerce is on the brink of a massive expansion. Currently valued at $7.7 trillion globally, it's expected to grow by 18% yearly until 2030, doubling DTC commerce. By 2025, around 80% of B2B sales will occur online. This surge is due to changing buyer demographics, with 64% being Millennials and Gen Z, demanding easy, seamless online buying experiences. Alibaba.com emphasises the transformative impact and advantages of B2B e-commerce, spotlighting its role in streamlining operations, reducing costs, and fostering growth opportunities.
4 - Global Ecommerce Trends
The 2024 trends indicate a shift towards mobile shopping acceleration, social commerce growth, and a focus on personalization through AI. As consumers demand more privacy and sustainability, zero-party data gains traction, while eco-friendly practices reshape shopping choices. Augmented reality (AR) and virtual reality (VR) enrich the shopping experience, while voice search and video content redefine how customers interact. Brands pivot towards omnichannel marketplaces and flexible strategies, acknowledging the need for both planning and adaptability. These trends paint a landscape ripe for innovation and adaptation, defining the future of Ecommerce in 2024.
3 - Mobile Commerce is on the rise
Mobile Commerce has skyrocketed due to consumers’ preference for shopping on smartphones. In 2023, sales hit $2.2 trillion, making up 60% of global Ecommerce. Brands are honing in on mobile design to boost user satisfaction and engagement while apps trump websites, prompting more significant spending and stronger brand ties. Notably, companies like SwagMagic saw a 30% user engagement rise post-mobile optimization. Building a mobile app is becoming crucial for bigger brands as it enhances user engagement, encourages repeat visits without paid traffic, and offers personalized experiences, boosting loyalty and revenue in today's mobile-driven market.
2 - Omniful seed funding
Omniful, an e-commerce startup, has surfaced with $5.85 million in seed funding led by VentureSouq and supported by other investors. The company provides systems for merchants and logistics firms to streamline Ecommerce operations. It tackles common merchant issues, enhancing inventory management and order alignment across various sales channels. Omniful's tech has already been adopted by major retailers in markets like KSA and the UAE, aiming for global expansion into regions such as Africa and India. Its innovative approach promises to transform e-commerce processes, offering scalable solutions for businesses worldwide.
1 - Shopify Investor Day
At Shopify's recent Investor Day, the emphasis was on strategies aimed at empowering merchants and expanding their market reach. The company remains committed to providing tools and services that simplify the process of starting and growing online businesses. Additionally, Shopify highlighted its intentions for global expansion, suggesting improved accessibility and services for merchants in various regions. A significant focus was placed on technology, with investments in AI and software to enhance efficiency and scalability. This tech-centric approach indicates a dedication to fortifying the technological backbone of their services. Furthermore, Shopify's concentration on customer growth and retention suggests ongoing enhancements and features for merchants to attract and retain customers on their online stores. Overall, these strategies unveiled by Shopify reflect a commitment to empowering merchants, leveraging technology for efficiency, and sustaining customer growth.
STD! I mean… “Save the Date” 😅
What’s ECOMMERCE PRAGUE? A unique conference on Ecommerce trends, International Experiences, and Shopify!
📅 WHEN: 8th February 2024, from 16:00
📍 WHERE: WPP Campus, Prague
🔍 WHAT TO EXPECT:
Expert international content
Guided networking
Mastermind groups
🎤 SPEAKERS:
Jérôme Poussin: Director Retail International, Maisons du Monde (formerly with Bonami, Notino, Celio, Carrefour)
Alex Bonvin, Founder & CEO at Audacia Group
Petr Andrysek, Co-founder & CBIO at MADMONQ®
Tomas Braverman, ex-CEO at Heureka
Jan Jelinek: CMO at Alensa