TRENDS

Key long-term trends in commerce that marketers should know about

By our African Marketing Confederation News Team | 2024

An omni-channel future awaits, spanning both physical and digital commerce. Creative agency VML highlights its predicted trends.

Global creative agency VML has released the 7th edition of its Tomorrow’s Commerce report, which brings together some of the key trends its experts believe will shape commerce in the coming decade.

“Their impact might not be felt tomorrow, but that doesn’t mean the planning for them can’t start today,” the agency says. “We seem to be approaching a most exciting and broad-ranging omni-channel future, which spans physical and digital.”

The Metaverse hype of 2022 has cooled.

Photo by Fauxels from Pexels

Among the specific trends unpacked in the study:

A New Brand Order with Less Brand Equity

Disruptor brands are on the rise, using a combination of influencer personalities, strategic promotions and new distribution channels to build brand equity quickly. This challenges traditional brands that rely on established reputations, as consumers are now open to buying directly from influencer-created companies.

The Age of Experimentation and Search

Shoppers seek novelty in their online journeys, hopping between channels and making unplanned purchases. This unpredictable behaviour challenges retailers to turn these opportunities into a sale. Brands must embrace ‘Creative Commerce’ through surprise and gamification, and collaborating with non-commerce channels to make shopping more engaging and adventurous.

The QR Revolution Continues

QR codes are making a comeback, linking to immersive content, integrated with IoT applications, and personalised marketing. They have the potential to become a major part of a connected digital landscape, allowing for innovative shopping experiences.

The Mature Metaverse

The hype of 2022 has cooled, with the promise of virtual worlds and shopping experiences yet to be realised. However, the underlying technology is maturing and finding its footing in the business world. It’s potential lies in B2B applications like AR training simulations and product design, with potential to focus on how these digital experiences connect and enhance real-world tasks.

Quest for Omni-channel Omnipotence

Omni-channel commerce is the standard for brands, but is challenging to manage. A massive 94% of brands surveyed offer omni-channel experiences, but almost half struggle to deliver a consistent brand image across all channels. Brands are still determining the best approach for each channel, with many finding D2C too complex and marketplaces a potential threat. Social commerce is seen as a future opportunity, but many need a clear strategy. As new channels like Metaverse and voice shopping emerge, managing an omni-channel presence will become even more complex.

You can read more about the study’s findings here.

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