What will e-commerce of the future look like? [A study by TextMaster x Acolad]
E-commerce is evolving faster than ever and the rules of the game are changing with AI, internationalisation, a Customer Centric approach, Social Commerce, and more. You have to keep up! TextMaster and Acolad have carried out an exhaustive study on the future of e-commerce. From personalisation through AI, to sustainable development and breaking into new markets, this report is your roadmap to success in this rapidly changing sector.
Study on the future of e-commerce: key figures
AI is already here
75% of companies surveyed in our study already use AI on a daily basis.
From creating product descriptions to personalising the customer experience, AI is showing its strength in all areas.
What’s more, 62% of e-tailers consider AI to be the most impactful trend for the e-commerce sector in 2024.
Internationalisation, a priority
For 45% of companies, breaking into new markets is key. However, they are encountering difficulties related to content, such as multilingual SEO and achieving a satisfactory level of quality when it comes to translation.
The customer is (still) king
In e-commerce, improving the customer experience is a top priority. Companies invest in loyalty programmes, in online chat services and even in augmented reality for customer satisfaction purposes.
Sustainable development, a battle for e-tailers
Consumers are increasingly aware of the environment and e-commerce business owners have taken notice. 53% of them are actively working to reduce their carbon footprint.
75% of companies say they use AI on a daily basis
The use of AI is already well-established in the e-commerce sector. In fact, 75% of companies say that they already use artificial intelligence for daily activities.
Furthermore, 62% of companies consider the current growth in AI to be the trend impacting the e-commerce sector the most.
Other trends include:
- disruption to global supply chains (11%)
- data and cybersecurity (9%)
- economic uncertainty (9%)
- personalisation (9%)
The general adoption of AI proves its current importance in the e-commerce sector. Companies that do not adopt this technology risk being left behind, especially as personalising the customer experience using AI is becoming an essential in the industry.
In other words, AI is no longer just a buzzword, it’s a real game-changer.
It is transforming the entire e-commerce landscape, from buying behaviour to supply chains and data analysis. We can therefore predict, fairly reliably, that AI will have a prominent place in the e-commerce sector in the future.
| What are the most popular uses of AI? 🔎 AI is mainly used in the following areas: ● content creation (46%) |
Why is AI so important for e-commerce?
It opens up the range of possibilities. Thanks to AI, you can understand your customers like never before. It allows you to analyse their behaviour and buying habits, a major advantage when it comes to refining your strategy and creating 100% personalised shopping experiences.
Product recommendations that generate conversions
Product recommendations are very important tools for boosting your e-commerce sales in summer and at all other times of the year. These are usually located under a product description with the heading “you may also like” or “customers who bought this product also bought”.
These recommendations encourage customers to view the products that are likely to interest them. When informed by AI, these recommendations are increasingly more relevant, maximising the likelihood of additional sales.
Larger than average shopping baskets
Up-selling and cross-selling become easy to implement thanks to AI. This will increase your customers’ average shopping basket spend as well as maximising your sales.
24/7 customer service
Using an AI-driven chatbot can help strengthen your customer relations. A bot can provide your customers with instant, relevant assistance, so they don’t have to wait on the phone for an advisor to be available.
More loyal customers
All the reasons given above demonstrate that AI can have a truly positive impact on your customer relations. This technology will therefore help you to establish long-lasting relationships with your audience.
The challenges of AI in e-commerce
While AI’s potential in e-commerce is undeniable, a study by McKinsey shows that some e-tailers are finding that the “widespread implementation of AI is not as simple as flipping a switch”.
Indeed, to reap the benefits, you need to find the best tools and surround yourself with experts, which can make the process slower.
E-tailers are also concerned with the quality of information and data confidentiality.
Let’s also not forget the cost of implementing this new technology. It can be a significant amount of money, but should be seen as a long-term investment.
45% of companies are planning on breaking into new markets
Do you dream of expanding your e-commerce business beyond national borders? You’re not alone. Our survey showed that 45% of companies are planning on breaking into new markets in the coming months and years.
But here’s the thing: a simple translation of your website is not enough.
To make a real connection with foreign customers, you must speak their language, not only in the literal sense, but also culturally. This is where localisation comes in.
Localisation allows you to adapt your content, marketing messages and even your customer service so they are relevant to the culture and expectations of customers in the target country. In this way, they will feel heard and understood. This is a key element in international success.
70% of companies surveyed use localisation
Many companies have jumped on the bandwagon. Our survey revealed that 70% of them have localised their websites, with an average of four languages per site.
But even with this effort, the quality of the content is still a major challenge. From multilingual SEO to guaranteeing impeccable linguistic quality, there are various obstacles to overcome.
With that said, don’t lose heart!
With a well-designed strategy and skilled partners, you can overcome these difficulties and exploit the immense potential of internationalisation.
Just remember that translation alone is not enough. You must create tangible links with your international customers.
| What’s the biggest challenge when operating internationally? 🔎 Here are the answers we received to this question in our survey on the future of e-commerce: ● multilingual SEO (32%) |
Key figures on customer loyalty in e-commerce
In the competitive and developing field of e-commerce, selling is not enough. Customers today want more than products, they want appealing experiences that keep them coming back again and again. This is why trending companies place much importance on the buying journey, from first click to final delivery and beyond.
Customer experience
Improving the customer experience is an overriding priority for online store managers. Here are some figures from our survey relating to e-commerce customer experience:
- 52% say that they offer a loyalty programme
- 46% use a live chat support solution
- 31% use augmented reality
As an e-tailer, you need to attract your customers and show them you honestly care about them and their needs. This translates to personalised recommendations, responsive customer service and a touch of augmented reality to spice it all up.
The power of social media
It’s important not to forget the power of social media. Especially when we know that 57% of companies sell their products directly on platforms such as Instagram or TikTok. Social commerce is booming, and it’s not hard to see why. It’s where customers can meet each other, discover new brands and buy new products.
57% of people surveyed said they buy on Facebook and Instagram
57% of companies surveyed sell their products on social media. Facebook and Instagram are right at the top of the podium.
Here are the social media platforms most commonly used in e-commerce:
- Facebook (63%)
- Instagram (59%)
- Pinterest (31%)
- TikTok (20% )
- Snapchat (4%)
- Twitter/X (2%)
- Discord (2%)
To read more about this topic, here’s everything you need to know about Social Commerce.
53% of companies are trying to reduce their carbon footprint
What will the e-commerce of the future look like? E-commerce will be much greener than before! Today’s consumers are not just looking for good products. They are looking for brands that align with their values.
With growing concerns about the environment, sustainable development is becoming a commercial necessity.
Our study revealed that more than half of businesses are actively working to reduce their carbon footprint. Whether it’s eco-friendly packaging, recycling programmes or carbon offsetting, online store managers are striving to have a positive impact on the planet.
These best practices are profitable. Environmentally-conscious consumers are turning to brands that share their commitment to the planet, even if it means making a small sacrifice on price.
By taking this step towards greener e-commerce, you are not only doing something good for the environment, you will also strengthen the confidence and loyalty of a growing number of buyers.
| Ecological measures adopted in the e-commerce sector 🔎 Here are the most common ecological measures used in e-commerce: ● more environmentally-friendly packaging (51%) |
Methodology & authors
Methodology
TextMaster and Acolad questioned nearly 100 users in an online survey conducted in April 2024. Respondents were contacted via marketing emails and LinkedIn publications via the TextMaster and Acolad pages.
About TextMaster
TextMaster is Acolad’s online translation platform, specifically designed for online commerce and digital content. Its mission is to facilitate international dialogue through high-quality multilingual content.
About Acolad
Acolad is a world leader in linguistic solutions. Its mission is to help its customers develop their business and grow their companies using cutting-edge technology and localisation expertise. Founded in 1993, the group is present in 23 countries in Europe, North America and Asia, with over 1,800 employees supported by a network of over 20,000 linguists worldwide.
Want to read more? Read our article: “Online retail versus physical stores: which is better for the environment?“.
