E-commerce Predictions 2024
From 50+ Top Industry Experts“What are your e-commerce predictions for 2024?”
That's what I asked my 7,800+ readers at Shopifreaks E-commerce Newsletter and my network on LinkedIn.
Our second annual Predictions 2024 report curates those submissions alongside predictions from published posts by e-commerce industry leaders.
I hope that these predictions help shed light on where e-commerce is trending in the near future so that you can stay ahead of the curve for your e-commerce business, clients, or career.
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And now onto this year's 2024 predictions…
“Outgrow becomes outlast – resilient brands survive the shakeout and gain market share.”
This year’s rocky economy presented numerous challenges for brands, leading to something of a shakeout in the market. Those resilient brands that successfully weathered the storm are now poised for growth and market share expansion.
In 2024, we can expect to see more digital-native brands following in the footsteps of brands like Glossier and Ritual Vitamins. Once known for their primarily direct-to-consumer approach, these brands have expanded into brick-and-mortar retail, expanding their reach and capturing a larger share of the market.
This convergence of online and offline realms will not only benefit merchants by increasing their visibility but also provide consumers with a wider range of options and a more cohesive shopping experience.
“B2B is going to steal the eCommerce growth limelight in 24!“
While DTC has been the star of eCommerce brand success over the last decade or so, with the biggest players landing million and in some cases billions in VC funding, the luster has well and truly worn off. The poster child for this fall from grace might just be Allbirds.
As a result of cheap funding drying up, DTC and its consumer facing counterpart B2C have faded as the golden goose of eCommerce. Given the relative nascency of B2B eCommerce and its current trajectory, I think it will steal much of the eCommerce thunder in 2024.
Even Shopify has had to concede that this needs to be and will become a much bigger focus for them moving forward and they are saying 2024 IS the year for it.
Jason Greenwood, Founder of Greenwood Consulting & Host of The eCommerce Edge Podcast (Submission)
“People will start to focus on making pretty ads.“
The components of the ad still will be direct response, I just think brands will be adding more high-fi production.
Matthew Gattozzi, Founder of Goodo Studios (LinkedIn)
“2024 will be a miserable year to buy media.“
Between a toxic election, blandness driven by AI, continued Google and Facebook consolidation, and the decline of media from the TV to the open web, it will never be harder to stand out.
Danny Weisman, Group Media Director at Noble People (LinkedIn)
“In 2024 two important areas for payments will continue momentum: one-click checkout solutions and user experience improvement in checkout.“
One-click checkout solutions such as Stripe Link and card schemes such as Visa Click to Pay are improving conversion rates for brands and retailers, and we anticipate a surge as one-click checkout solutions become mainstream.
Additionally, enhancing user checkout experiences will be a key focus for the upcoming year. One of the exciting things about payments is the industry can change very rapidly. We don’t expect any brand new payment methods to emerge but rather continued trends of contactless adoption for in-person payments and faster, frictionless checkout experiences online.
Michaela Weber, GM of Payments and VP of Strategic Business Development at BigCommerce (Submission)
“TikTok will incorporate payments (TikTok Pay) with TikTok Shop.“
The recent acquisition of GoTo in one of the fastest-growing e-commerce markets (Indonesia) might be an excellent place to start.
Alejandro Arellano, Business Developer & Partner Manager at PrestaShop (Submission)
“Shopify is going to acquire Loop.”
Affirm sunset its Returnly app in July, a self-service online returns experience it acquired in 2021 for $300M, and transitioned merchants using that platform to Loop. I'm guessing that there's some restructuring and consolidation going on in preparation for an acquisition or larger strategic investment in Loop from Shopify.
Shopify owns 20M shares of Affirm and also participated in Loop's $65M Series B round in 2021. It doesn't necessarily need overlapping businesses and would rather have each company focus on its core value proposition, while strengthening Loop's position in the market.
Shopify is also moving away from logistics to focus again on software, and acquiring Loop satisfies that itch. My prediction is that Shopify will acquire Loop and make its return services a native Shopify feature.
Paul Drecksler, Editor of Shopifreaks E-commerce Newsletter
“Merchandising and Planning will be in the spotlight for 2024!“
Retailers are on a quest to create more relevant and profitable product assortments. That is why in 2024, merchandising and planning teams will come into the spotlight and will need to transform the way they work to succeed. Process innovation will enable teams to put their customers at the center of product development, curation and planning.
Liza Amlani, Founder of The Merchant Life (LinkedIn)
“A story that will start to unfold in 2024 is a shift in thinking around our tech stacks. “
Tech companies were relying on VC money for years to gain market share, but that has dried up and prices are starting to increase for those same apps and services.
On the other hand, merchants are getting tired of their tech budget increasing all the time, and they've started to rethink which tech is nice-to-have and which tech drives real revenue.
And on top of that, people are getting comfortable with AI and the new capabilities it offers around coding without apps or developers.
These 3 factors are creating the perfect storm for disruption across the ecommerce tech world. It will be interesting to see how it plays out.
Jason Shepherd, The Real Heroes of Ecommerce (Submission)
“Machine teaching” will be more critical than “machine learning.”
The truly critical skill with AI is the same critical skill with any technology, which is ensuring that the technology and the teams responsible for it understand the business problems it is required to solve.
In the same way that Amazon wins in the marketplace because its people are better at teaching development teams how to build digital products that power the business (i.e. they have better “business requirements document writers” that other companies, so they build more relevant technology faster) winning companies in AI will be ones that excel at the “Training” part of AI as much as the ”Inferencing”.
Retail expert Andy Murray has gone so far as to say that the “new 5th P” of marketing should be the “prompt” – how good your people are at asking platforms like ChatGPT what to do.
Bryan Gildenberg, Founder of Confluencer Commerce (Blog Post)
“There will be no other big marketplace in the US that gets close to challenging the dominance of Walmart, Amazon, or eBay.“
Running a marketplace is hard; many have tried and failed. Players like Walmart, Amazon, and eBay have not only years of experience (they have had many opportunities to try things, fail, reinvent, and learn from mistakes) but also substantial financial resources, infrastructure, and an amazing understanding of the US audience (both sellers and buyers).
Players will be coming and attempting to compete with them, but they will fail due to regulatory challenges, lack of experience, or striving only on short-lived trends, which will eventually die out.
Let me share our business secret: as of now, at GeekSeller, we do not plan to add any new marketplaces to our software. We are focusing all our resources on improving the current tools by prioritizing Walmart, Amazon, and eBay. We believe this is where big brands should invest their resources as well.
Daniel Sodkiewicz, CTO and Co-founder of GeekSeller (Submission)
“Amazon will invest more in Vendor and Agency support.“
Yes, you heard that right…mostly in logistics and areas of strategic importance first but boosting agency efficiencies should be an area of investment, as onboarding more VMs and AVS goes against the current direction of travel.
On a serious note, heavy-weight competitors are nipping at Amazon's heels such as B&Q and Tesco in the UK or Walmart or Target in the USA. Also, there is an increasing threat from Temu too.
How will Amazon slow this loss of market share? – Provide more support to Vendors and Agencies, or they will be tempted to move to established retailers and other channels to build their relationships further – with better support…
Matt Anderson, Chief Strategy Officer at Optimizon (LinkedIn)
“Social media giants will start looking at greater ways to integrate eCommerce functionality into their platforms.”
This will enable users to make seamless purchases directly within their favourite social apps.
This will bring convenience for consumers. AND, consumers LOVE convenience.
However, it also represents a VERY powerful opportunity for businesses to tap into new customer bases and enhance overall sales.
Amy Rawcliffe, Founder of Click Marketing (LinkedIn)
“Amazon x Facebook is bad for brands.”
In 2024, DTC professionals will eventually come to the realization that the partnership between Facebook and Amazon is bad for brands.
Why? When platforms take ownership of your advertising and your fulfillment, they own your customers, too. It won't take long for brand owners to realize that this is ultimately a bad deal.
“B2B ecommerce is evolving to become more than just a cart and a checkout.“
We will begin to see businesses and buyers digitally execute tasks from purchasing to tracking to reordering, which will necessitate a seamless integration of online and offline sales channels.
Businesses should start getting familiar with AI's role in B2B ecommerce as we see it taking a front seat with price optimization, managing inventory, assisting in fraud prevention and personalizing the buyer experience.
Lance Owide, Director of B2B at BigCommerce (Submission)
“With cost of customer acquisition on the rise, high cost of capital, brands owners will rationalize their offerings to focus on profitable skus and drop long tail.”
Brands will continue to further invest in new acquisitions channel and social commerce will continue to grow.
Nicolas Bailliache, Co-Founder of eStreamly (Submission)
“Google will continue to double down hard on ecommerce queries.“
They'll continue to introduce new features that turn the search results into a category-page like experience in the search results. Products grids will become a focal point of the SERPs will there are diminishing returns for category pages themselves.
Chris Long, VP of Marketing at Go Fish Digital (LinkedIn)
“Customers walking away from social media.”
2023 has been an ‘annus horribilis' for social media. Meta was fined for mishandling user data and breaching privacy rules, TikTok was banned on government devices in several countries, and Twitter experienced the worst rebranding since The Gap.
I predict that people will continue to leave social media or, at the very least, reduce their screen time. For example, it's estimated that over 6% of Twitter (or X) users will have quit the platform entirely by the end of 2023.
“Expect an ‘unretirement' wave in 2024.”
The workforce is likely to stay pretty crowded this coming year. Inflation is still high, interest rates are unlikely to fall by much and most people haven’t been saving enough for their golden years. This means many of the eldest members of the workforce are feeling strapped for cash and are pushing off retirement or reneging on it altogether.
Taylor Borden & Emma Hudson, Editors at LinkedIn News (LinkedIn)
“A new crop of ‘vertical fintech' unicorns will emerge.“
With the fintech market flush with “horizontal” solutions (e.g., Stripe and Square) that address the basic needs of a wide range of customers, several “vertical fintechs” — industry-aligned software-as-a-service (SaaS) companies with embedded lending and payments modules — are now arising to better serve the specialized financial needs and pain points of specific industries. Several such companies, including Toast (in the restaurant industry) and Flywire (in education) have already gone public, demonstrating the vast growth potential for vertical fintechs in other large industries like healthcare (e.g., Paytient, Level and Adonis) and trucking (e.g., Coast and Mudflap).
For investors seeking startups that balance innovation and growth with profitability amid the market downturn, vertical fintechs could become prime targets in 2024: their profitability is often boosted by blending a software offering with a financial services offering, and once they establish themselves in their respective domains they offer sustainable business models and strong moats. Thus, we would not be surprised to see several new vertical fintech unicorns emerge next year!
Arvind Purushotham, Head of Citi Ventures (Blog Post)
“2024 will be for e-commerce market consolidation.”
While Q4 was strong, as it should be, many brands need help.
I bet we'll see a market consolidation in 2024 – through mergers and acquisitions and ecomm brands with weak business fundamentals going out of business.
“With the launch of the generative experience, Google will now be taking the top of the funnel for itself, leaving SEO to the mid-funnel.“
To be fair, it isn’t really “taking” it; they are just answering what is essentially commoditized information.
To date, Google has only delved into short answers when it could rely on structured data that was more than likely to be accurate.
In this bucket would be topics such as population counts, sports scores, ticker symbols, heads of state, and all other kinds of results that we see today in knowledge graph answers.
Eli Schwartz, Product Led SEO Expert (Blog Post)
“Smaller, targeted moves will replace half of major tech replatforming projects.”
We expect to see many more projects that introduce standalone, modular, or augmentative commerce tech solutions over the next year. In 2021, huge commerce solution replatforming projects were all the rage. By contrast, 2024 will be the year digital businesses add specialty tech with a lighter lift to implement and a shorter time to attributable value, like packaged commerce search solutions.
Emily Pfeiffer, Principal Analyst at Forrester (Blog Post)
“In 2024, brands will make the shift to pay-per-sale promotions vs. pay-per-clip…”
to drive YoY growth with key retailers like Walmart, Dollar General, Kroger, and more.
The rollout of DG Cash and manufacturer offers at Walmart marks a critical innovation and strategic opportunity for brands to re-think legacy tactics and evolve with the expectations of consumers and the ever changing promotional landscape that they operate within.
Ibotta’s AI-driven network represents a major opportunity for brands to reach 91% of American households⁶, unlocking measurability of spend and ROI at unprecedented scale.
Ibotta (Blog Post)
“Feed management as an SEO skill.”
While dedicated feeds and channels are not new, we are starting to see that indexing participation in these feeds does not seem optional. From Wix’s experience, we’ve seen clients struggle to get indexed in other ways and only be able to get products indexed via Google Merchant Center. Given how Google Search Console and Google’s SERP are organized and that the way they serve content is becoming continuously segmented by intent and customer journey, this seems to be a natural progression.
Crystal Carter, Head of SEO Communications at Wix (Blog Post)
“Color of the Year: Berry”
Etsy’s 2024 Color of the Year perfectly complements the theme of romance. Berry—a shade that blends rich reds and blue tones—can be thought of as a grown-up version of the popular pinks of 2023. In fact, we’ve seen hot pink items trending down on Etsy (searches for hot pink decor items declined by 58%), making room for this more relaxed and undeniably romantic shade. Deeper than pink but softer than red, berry is a versatile hue that can carry through the seasons and it adds a welcome pop of color through accessories and decor accents alike.
“In-Store Media”
2024 will be the year retailers make strides in this arena. Large retailers like Walmart, Instacart and Kroger are making capital investments in the technology required to enable in-store media through screens and shopping carts. In-store media test and learns are being discussed and media agencies are beginning to see the store as the next buying channel due to its scale. If retail media networks can ensure in-store media opportunities are connected to their other digital solutions and offer them in a way that is easy to buy in a consolidated platform, substantial investments are likely to follow.
Jill Cruz, EVP Commerce Strategy at Publicis Commerce (Report)
“The ‘de minimis' rule gets revised.”
With the impact that Chinese marketplaces like Temu and Shein are having on American retailers and marketplaces, I predict that 2024 is the year that the “de minimis” rule (which allows imports valued at less than $800 to enter duty-free into the U.S.) gets revised.
The de minimis rule, along with our subsidization of shipments from China, offers way too much of a competitive edge for Chinese retailers. At the current pace of its abuse, we're handing U.S. retail to China on a tax-free platter. With the amount of lobbying that companies like Amazon and Walmart do, I don't see this continuing for much longer.
Brazil is experimenting with a program that lets e-commerce companies voluntarily include import, federal, and state tax collection at the time of purchase, to relieve the revenue service of having to charge the customer these taxes after the merchandise arrives.
I see the U.S. creating similar programs in the near future while simultaneously revising their policies on duty free retail imports.
Paul Drecksler, Editor of Shopifreaks E-commerce Newsletter
“E-Commerce gets serious about compliance.”
With authorities showing a larger appetite for enforcing data privacy requirements in the EU (GDPR), California (CCPA) and other U.S. states continuing to introduce similar legislation, failure to comply with data protection and privacy requirements is no longer an option for any medium to large e-commerce business.
The past few years have seen an e-commerce boom. As with any boom, regulation takes a while to catch up, but it finally has. In 2024, we are likely to see a stronger focus on governance, risk and compliance (GRC) in e-commerce, prompted by high-level litigation against several large companies in late 2023.
“Ecommerce SEOs need to look at how Google is changing their role in SERPs.“
The company no longer wants to be the search engine you use to find the sites with the products – they want to be where you shop for products.
SERPs will continue to cut out category and product listing pages in favor of showing product results directly in SERPs.
Jamie Indigo, Senior Technical SEO Lead at Lumar (Blog Post)
“Google /Alphabet Inc. will blow away OpenAI, Meta, Twitter/X, and others in 2024…”
when they integrate Gemini (their forthcoming LLM) into a “small”/personalized AI for each person to carry AND run on their own Pixel smartphone with a secure AI chip, and fine-tuned on the wealth of personal data from that person's own Gmail emails spanning back over a decade, Google Photos album, Google Drive, Google Docs, Google Voice calls, and Google Maps history.
Aseet Patel, Intellectual Property Attorney and Shareholder at Banner & Witcoff (LinkedIn)
“Marketers that move fast and start small with AI will get ahead.”
They should experiment within the tools their teams already love – and how they can integrate AI within these existing tools. Familiarity will make the transition easier, and this approach can also help maximise tech investments.
Tom Pepper, Senior Director, EMEA & LATAM at Linkedin (LinkedIn)
“Generative AI will follow in the hype cycle footsteps of other breakthrough technologies like blockchain.“
At their outset, both technologies appeared to be powerful novelties with great but unknown potential. As blockchain has matured and been applied in extremely useful ways beyond cryptocurrency – such as for model management governance – Gen AI will find similar tributary applications that will be less dramatic, but far more pragmatic.
“Bitcoin approaches new all time highs.”
Trey Cobb thinks 2024 will be a banner year for bitcoin. The reason? Most of BTC historical returns are accounted for in the periods following each halving and the next one is in 1H2024. Halvings should already be priced in and markets should become more efficient with time, so this rally may not be as big – who really knows. Wider global adoption in the wake of continued geopolitical conflict could potentially provide tailwinds in 2024. He notes that this is not financial advice, just a fun hypothesis and it could go to zero.
Trey Cobb, Investor at Upper90 (Substack)
“The ‘creator economy' will further converge with ‘social commerce,' spawning the next generation of e-commerce offerings and strategies.“
As creators become increasingly important marketing channels for consumer brands, brands are looking for new ways to collaborate with them — both by embedding their products in creators’ content (e.g., TikTok videos) and by embedding creator content into their e-commerce platforms. For example, Buywith enables creators to host live virtual shopping events during which viewers can purchase the items they’re reviewing, while Walmart allows sellers on its platform to add influencer-generated content to their product pages.
Meanwhile, many creators are also looking to sell their own branded merchandise via personal online stores, social media and other e-commerce sites. Startups like Pietra and KOMI allow creators to design and source product lines, develop online stores and access additional sales channels — helping them build their audiences, reduce their dependence on major social media platforms and further accelerate the growth of social commerce.
In 2024, we expect to see this trend pick up steam, leading to new opportunities for brand-creator collaborations such as co-branded and special edition products.
Arvind Purushotham, Head of Citi Ventures (Blog Post)
“Multi-channel automation for seamless journeys.”
The lines between online and offline experiences will blur even further. Effective lifecycle marketing will embrace multi-channel automation to create seamless customer journeys across various touchpoints. Whether it's email, SMS, social media, or in-store interactions, the key is consistency and personalisation at every turn.
“Retailers begin to move away from guest checkouts…”
into a wallet offering and require email or phone verification to create an account. E-commerce retailers then are a store of value like any Fintech and have similar fraud and ATO issues.
To fight curbside fraud — ie buy now pick up later of really high $$ value goods, retailers begin requiring you to KYC at checkout and then also show a matching ID at pickup.
“Economic Bifurcation.”
As American families grapple with increased economic stress and financial uncertainty, two distinct retail segments are thriving. Luxury retail remains strong, buoyed by affluent Americans who are relatively shielded from economic turbulence and the return of international tourism to the US. On the other hand, value-oriented everyday essentials are on the rise, reflecting the trend of many American families allocating a larger portion of their household budget to necessities over discretionary spending. Retailers positioned between these two extremes are poised to encounter greater challenges.
Jason Goldberg, Chief Commerce Strategy Officer at Publicis Groupe (Report)
“The end of ENCRYPTION.“
After nearly 15 years working on the integer factorization problem, the answer will include the discovery that this was never about integers, and the solution will remind us that there aren't any integers. 15 is not 15. It's 14.99999999 forever. And that there were avoidable gaps in Number Theory produced by grammars in the language that were not context free.
AGI will discover a shortcut that solves this problem, and we will be at the end of encryption. No more ecommerce, no more online banking, no more secure messaging or email, and definitely no more crypto currency.
No more secrets.
Prediction: less than a year. Tops.
Chris Curtis, CTO & Enterprise Architect (LinkedIn)
“Social commerce will continue to change the dynamics of demand and fulfilment in retail.”
This is because more and more social media users will prefer to discover new products via influencers and a growing number of in-app ‘swipe to shop’ purchase options. As a result, retailers will need to be better equipped for unified commerce across all channels. Products will spring into unprecedented demand, meaning retailers must have the right infrastructure to fulfil these orders – and fast.
Stuart Carrison, Senior Sales Engineer at LogicMonitor (Blog Post)
“Sustainability: It pays to go green.”
Sustainability remains at the forefront of consumers’ minds as they increasingly experience the impacts of climate change firsthand. This trend will only continue to build momentum in 2024.
Consumers are seeking out and prioritizing eco-conscious options and are even willing to pay premium for sustainable goods and businesses. But it’s not easy being green: especially in the U.S., people are becoming increasingly skeptical of “greenwashing.”
Geert Leeman, Global Chief Revenue Officer at SAP (Blog Post)
“Every brand will focus on getting as much opted-in data as possible.”
Brands we’re talking to are waking up to the fact that you can’t continue to fly blind when it comes to marketing… and you don’t have to. Getting a full picture of your site users—having your own CDP—is a need-to-have. Obviously data privacy has become a sensitive issue and you won’t have all of the information you want about every user, but you’ll be surprised how much you can know. We’re currently identifying 30-50% of site users for brands we work with, using only opted-in data and while still abiding by privacy rules. The impact it makes on brands is undeniable.
Michael Diesu, Co-Founder of Revenue Roll (Twitter)
“Non-endemic media spend will be key to RMN continued growth.”
With the impending depreciation of cookies, non-CPG brands will need to find and accurately target audiences from new 1P data sources. RMNs will meet the moment with new and evolved upper funnel capabilities and sophisticated media previously not available to non-endemic brands. All parties win and it is bound to grow and flourish.
Addie Black, Commerce Strategy, Omnichannel Lead at Publicis Commerce (Report)
“Display ads will get connected to livestream videos.”
I think that we'll see our first “Live Commerce Ad” show up as part of the display ad offering of at least one of the ad networks. In other words, a company will go live on their website and/or social channels and the live video will feed into their dynamic ad creatives on partner websites / apps for the visitor to unmute / click through.
Paul Drecksler, Editor of Shopifreaks E-commerce Newsletter
“The B2B environment in 2024 will be increasingly digital, data-driven, and efficiency-oriented…“
with a strong focus on leveraging technological advancements like AI to enhance operations and customer experiences.
Furthermore, B2B omnichannel is poised to become the dominant approach in 2024 to meet digital-first buyers where they are, which also means ensuring a business’s online presence is tightly integrated with offline sales channels.
Lance Owide, Director of B2B at BigCommerce (Submission)
“Retailers will explore new ways of reaching customers at the consideration phase.”
Consumers are advertised to from the second they wake to the moment they go to sleep. There are scarce channels left through which they can’t be targeted by brands. Whilst awareness is important, marketing budgets need to work hard to convert. Therefore, we expect to see more retailers engaging with customers further down the sales funnel in 2024. Meaningful interactions will be more important than ‘impressions’ – and therefore marketeers will spend time reaching the customers more likely to convert.
“Buy now, pay later will continue to grow at a strong rate in 2024 as consumers seek flexible payment options…“
but we’ll also see more regulation to avoid abuse. There are already actions underway in some countries.
Michaela Weber, GM of Payments and VP of Strategic Business Development at BigCommerce (Submission)
“#TikTokMadeMeBuyIt”
TikTok is set to surpass all to become the pound-for-pound, undisputed destination of choice for social commerce.
Proving it’s far more than just an entertainment channel, TikTok is in fact considered the main search engine for more than half of Gen Z, with 3 out of 4 Gen Z’ers buying something after seeing it on the platform.
Millennials are set to join the fun, with 40% now using the platform.
Chris Dawson, Writer at ChannelX (Blog Post)
“2024 will be the year of transformative change with Gen Z at the forefront.“
In 2024 I predict that brands will increasingly focus on crafting their ecommerce experiences for Gen Z consumers. As the first generation to grow up in the digital era, Gen Z’s expectations for the performance of e-commerce platforms have been steadily climbing. Beyond the mere transactional nature of online shopping, this generation, recognized as one of the most educated and diverse in modern history, is shaping the trajectory of online commerce with its distinct preferences and values.
In 2024, Gen Z consumers will place even greater emphasis on sustainability, ingredient transparency, and the impact of social media influencers when making purchasing decisions.
Georgie Walsh, Content Marketing Manager at Loyalty Lion (Blog Post)
“Marketers become fulfillment evangelists – social commerce makes logistics crucial to demand gen.”
Social commerce has been steadily gaining momentum, and its rise will lead to increased collaboration between logistics and marketing teams.
As platforms like TikTok deliver viral moments for products, brand owners will soon recognize the potential of social platforms as a powerful channel for commerce, if they haven’t already. Insider Intelligence estimates that 4 in 10 US TikTok users will make a purchase on the platform this year.
By combining logistics expertise and fulfillment data with marketing strategies, brands can create a consistent and reliable customer experience across social commerce platforms, ultimately driving measurable transactions and enhancing customer satisfaction.
“2024 will be a challenging year for all businesses as global economics will decline, even more than 2023.“
Cashflow will keep being the king and credit will be harder than before. eCommerce stores with a strong business model, logistic solution & AI-operated marketing activity will strive.
Google will keep enhancing its solutions to support eCommerce and ‘fight back' against Amazon's dominance, while Chinese giants like Temu will keep trying to go big on global markets. SMBs online stores have a huge opportunity here.
Mushon Heinisch, Chief Media Officer at StoreYa (Submission)
“2024 will be the breakout year for account-to-account payments.”
In Europe, PSD2 payment innovation is bearing fruit, and we predict that in 2024, payment adoption will more than double. Beyond open banking, banks and payment service providers will look to get ahead of the inevitable mandates, spurred by the November 2023 SEPA rulebook change that requires faster payments and the EU’s instant payment stance.
In the US, FedNow launched in July 2023, and by late 2024, hundreds more banks and PSPs will launch A2A faster payment capability, urged on by merchant sensitivity around card fees and banks delivering payment solutions to complement open banking.
Forrester (Blog Post)
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