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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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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.