Key Growth Trends
AI quickly became a popular tool to learn about market trends and make the sales process more pleasurable for customers. For example, consider the trend of virtual fitting rooms, which allows users to visualize how clothing products look on them before making purchases online. Tools like these use AI for several functions, like enhancing the accuracy of fit predictions and suggesting similar options through optimized algorithms. Ecommerce companies are turning to these tools to help reduce return rates and other operational costs. More users prefer social media over search engines for brand research, highlighting the growing importance of social media marketing and user-generated content in building meaningful customer connections and fostering strong consumer loyalty. Moreover, The rise in mobile shopping enhances accessibility and increases customer touchpoints, which are increasingly driven by visually engaging content, such as short videos. This shift is shaping an interactive Ecommerce landscape that aligns with consumer preferences. The Ecommerce sector has outpaced the broader consumer industry, which only saw a 0.6% YoY growth. The total number of M&A transactions reached significant levels, with strategic buyers leading YTD 2024, and private equity firms following the way. Interest in the B2B Ecommerce sector is on the rise, driven by its potential to generate stable revenue through repeat purchases. Businesses that excel in customer retention and maintain clear visibility into their revenue streams are especially appealing to buyers.
Artificial Intelligence (AI)-Powered Features
Social Commerce & Consumer Behavior
Focus on B2B Ecommerce
Source: Forbes
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