In 2024, consumer shopping habits are evolving, with a significant shift towards purchasing directly through social media platforms. A recent study indicates that 47% of U.S. shoppers have made purchases via social media, and platforms like TikTok are enhancing this trend by introducing features such as TikTok Shopping, enabling merchants to sell products directly within the app.
The online grocery sector is experiencing substantial growth. In the U.S., online grocery sales reached $95.82 billion in 2020, accounting for 11% of total grocery sales. This surge is not limited to the U.S.; globally, online grocery shopping has increased by an average of 23% across various countries.
Consumers are increasingly seeking faster shopping experiences, including expedited delivery services. Retailers are responding by investing in technologies to meet these demands, such as same-day delivery options and streamlined checkout processes.
Sustainability remains a priority for shoppers, with many opting for eco-friendly products and brands committed to environmental responsibility. Retailers are adapting by offering sustainable product lines and transparent information about their environmental practices.
The integration of artificial intelligence (AI) in retail is on the rise, assisting in personalising shopping experiences and optimising inventory management. AI-driven chatbots and recommendation systems are becoming commonplace, enhancing customer engagement and satisfaction.
The trend of shopping via social media platforms is gaining momentum, with consumers increasingly making purchases directly through these channels. Retailers are leveraging social media to reach broader audiences and facilitate seamless shopping experiences.
The retail landscape in 2024 is characterised by a blend of technological advancements and shifting consumer preferences, with a focus on convenience, sustainability, and personalised experiences.
itim Group plc (LON:ITIM) is a SaaS-based technology company that enables store-based retailers to optimise their businesses to improve financial performance and effectively compete with online competitors. Itim adds retail value by helping multi-channel retailers optimise their business and their stores to improve financial performance and compete more effectively with the “Amazons”.
