WHAT’S THE FUTURE OF ONLINE SALES TRENDS? RETAIL INNOVATION EXPLAINED

The acceleration of ecommerce shows no signs of slowing down as online sales are predicted to grow to $7.4 trillion globally by 2025. In the coming years, emerging trends around livestream shopping, influencer commerce, digital payments and more will reshape the online retail landscape.

Livestream Shopping Takes Off

Livestream shopping allows audiences to shop in real-time while watching video demonstrations. The trend took China by storm and hit $171 billion in 2022 sales. As live video commerce comes to the U.S. and the rest of the world, sales are projected to reach $25 billion by end of 2024.

Influencer Marketing Drives Sales

Collaborations with social media influencers continue heating up as a driver of online revenue through promotions and affiliated links. Audiences rely on creators for recommendations – turning content into commerce. Big growth looms in shoppable short video and livestreams.

Omnichannel Experiences Rule

Brands must tightly integrate online and brick-and-mortar sales channels to give consumers consistent purchasing experiences. Tactics like buy online, pick up in-store (BOPIS), quick delivery and free returns create cohesion between digital and physical stores.

Contactless Payments

As cash usage declines, convenient contactless payments via services like Apple Pay, Google Pay and PayPal dominate for fast checkouts across sites and devices. Cryptocurrencies also show early promise for online transactions with potential mainstream traction.

Visual Search Boosts Conversion

AI-powered visual search tools allow searching for products using images versus keywords. Platforms like Google Lens and Pinterest Lens draw inspiration from social content driving relevant purchase recommendations and simplifying shopping journeys.

With fierce competition, creating online experiences leveraging video, influencers, omnichannel strategy and innovative payments gives retailers the best opportunity to attract and convert modern digital consumers circa 2024 and the months ahead.