Rapid advances in ecommerce technology are being driven by consumer demand and expectations of exceptional online experiences.
Creating such experiences necessitates seamless collaboration with technology partners specialising in web design, logistics and payment solutions.
Through the integration of state-of-the-art payment facilitation from iKhokha, innovative UX solutions developed by Stone Hut, and efficient shipping services from Bob Go, online entrepreneurs can fully harness cutting-edge technology and services to create a comprehensive ecommerce solution.
Here are some of the top emerging trends that ecommerce entrepreneurs should look out for in 2024:
QR codes and contactless payments
Contactless transactions are now commonplace; these include paying for items in shops using NFC technology such as an RFID-enabled card, or smartphone or smartwatch.
These options are very popular with consumers – they save time and eliminate minor pain points such as remembering a PIN number, or having to take a bank card to the gym or when out for a run.
While much of ecommerce is contactless by nature, this technology is linked to other digital payment innovations including those provided by iKhokha like iK Pay Link where businesses can easily generate QR codes with payment links and use these codes and links to accept payments from customers.
“Our payment solutions can be seamlessly integrated into ecommerce websites, offering consumers the convenience and security they expect from contactless payments.
By removing the friction from transactions, iKhokha is making online shopping more inclusive,” explains Graeme Cumming, Chief Product Officer of iKhokha.
The growth in ecommerce is likely to fuel further moves towards the normalisation of integrated, contactless payments, continuing trends including the decline in the use of both cash and cards.
Shopping on the move – mobile commerce
The share of internet engagement time conducted on mobile devices continues to rise. People are becoming completely comfortable with using smartphones for all sorts of interactions, including online shopping.
The ecommerce industry has not been slow to take note of the mobile commerce (or m-commerce) trend.
Buyers and sellers now expect a desktop-quality online experience on their mobile devices – exactly what Stone Hut delivers – with the added convenience of anywhere, anytime connectivity and functionality.
M-commerce has been integrated into ecommerce through the development of mobile-optimised websites and the availability of free-to-download apps from leading ecommerce stores.
“It’s not enough for an ecommerce site to look good – it must also function effortlessly, draw people in, and deliver a memorable experience for buyers and sellers – an experience that they will want to repeat again and again,” commented Gill Balfour, Owner at Stone Hut Designs.
Mobile apps offer a convenient, fully synced experience – and give people the ability to buy and sell from anywhere resulting in increased sales.
Mobile commerce offerings further underscore the convenience advantages that ecommerce holds over conventional retail outlets, and is a further example of how consumer demand and expectations are driving the pace of innovations.
Once people can do mobile banking, mobile commerce is always going to be the logical next step.
The convenience of lockers
In ecommerce logistics, a trend gaining momentum is the adoption of lockers and pickup points for ecommerce deliveries, signaling a departure from traditional doorstep deliveries.
Parcel lockers are becoming increasingly popular, as they are able to provide convenient and efficient delivery of parcels.
“This delivery option is definitely one to watch. It offers advantages to all stakeholders in the parcel delivery process. It delivers convenience and effectiveness for users, simplifies the delivery process for online sellers and enhances resource utilisation for couriers” expands Anita Erasmus, Head of Business at Bob Go.
This trend aligns with the broader global movement towards sustainable and efficient last-mile delivery solutions, reducing the environmental impact of traditional delivery methods.
Friends shop together
Social commerce can also be seen as a natural progression of the convergence trend in online behaviour – the coming together of previously distinct digital activities.
People have always switched between multiple apps and websites as they seek, share and create content. Convergence means that this is no longer necessary.
Given the penetration achieved by the most popular social media platforms, and the fact that the majority of them derive revenue from paid (and highly targeted) advertising, integrating ecommerce functionalities into social media platforms is the next step.
Indeed, it can be argued that the business models of social media platforms depend on being able to commoditise user data in order to sell advertising, and then to actually sell directly through the platforms.
Social commerce functionality means that users can discover, share and purchase products directly on their preferred social media channels.
This is immensely powerful, given the value that consumers place on reviews and recommendations from friends.
The power of trust
Trust levels tend to be higher when products are advertised through user-generated content, which can seem more authentic.
This underpins an entire new industry: influencer marketing, whereby people who have built up a following on social media are able to leverage this to negotiate sponsorships, or sell their own products and services.
The genius of social media is its ability to foster connections, and build communities around shared interests or needs.
People who connect on social media are likely to have similar lifestyles, aspirations and priorities, meaning that online communities become self-defined target audiences that are highly attractive to advertisers and sellers.
Product discovery has become a social phenomenon – people search, find and share far more effectively than any blanket media campaign can.
A case in point is the current ‘must-have’ item, the Stanley Quencher ‘sippy cup’. The popularity of this product has been driven largely by social media and influencers, and is in high demand.
Shopping has evolved from a sociable, physical activity into a shared online experience, and the fact that the transition from product discovery to purchase can now take place seamlessly within social media spaces removes friction and increases the likelihood of sales.
With easier payments, more engaging UI/UX designs, convenient shipping options and the power of social marketing, ecommerce in South Africa seems poised for further growth in 2024 – and beyond.
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