10 things we learned at eCommerce Expo 2024
September 2024
In the fast-paced world of eCommerce, change is the only constant. New tech, consumer trends, and digital platforms are popping up every day, making it a challenge to keep up—let alone stay ahead. But with change comes opportunity, and that’s exactly what this year’s eCommerce Expo was all about.
We gathered with some of the sharpest minds in the industry to talk shop about the latest innovations, from AI-powered shopping experiences to next-level personalisation and sustainable growth strategies. The expo was packed with fresh ideas and actionable insights designed to help businesses not just survive but thrive in today’s ever-changing digital landscape.
Missed the event? No worries! We’ve rounded up the top insights to make sure you’re in the know on the hottest trends shaping the future of eCommerce. Let’s dive into the key takeaways.
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1. Embrace composable commerce for agility and innovation
Composable commerce is redefining how businesses operate by offering the flexibility and scalability needed to stay competitive and customer-focused. A standout example from the expo was Winparts, a leading car parts retailer that shifted from an outdated legacy system to a modern, composable eCommerce architecture. This empowered them to separate their front-end user experience from back-end processes, enabling faster testing and continuous optimisation of the customer journey. With composable commerce, businesses can integrate best-in-class solutions—like Storyblok for content management or Elastic for search—without being confined to a monolithic system. This modular approach allows for faster scaling, improved performance, and more personalised customer experiences.
2. Composable doesn’t have to mean complex
While the term "Composable Commerce" might sound daunting, the reality is much simpler. Composable Commerce allows businesses to create custom technology stacks, leveraging the best solutions available. This approach empowers businesses to be more agile and future-proof, helping them adapt to changing customer needs. You don’t need to overhaul everything at once—focus on key areas that need agility and build from there.
3. AI is transforming eCommerce
AI is revolutionising eCommerce by enhancing customer experiences, boosting conversions, and automating operations. Brands like Astrid & Miyu and Paul Smith have seen big wins in metrics like bounce rates and search-led revenue thanks to AI tools. Speakers emphasised the need for a thoughtful approach to AI integration. Rather than using AI for every task, businesses should focus on specific, proven use cases like personalised product recommendations and AI-driven merchandising.
4. Sustainability is integral to digital growth
Sustainability was at the forefront of many conversations, with businesses urged to reduce their carbon footprints through efficient site performance. Sustainable practices are becoming essential in eCommerce, as seen in the push for eco-friendly design, coding, and infrastructure. Faster-loading websites not only enhance user experience but also consume less energy, contributing to a more sustainable digital ecosystem. With increasing regulations on carbon reporting, sustainable AI practices were highlighted as both an ethical and business imperative.
5. AI should enhance, not overcomplicate, operations
Businesses must avoid rushing into AI projects without clear objectives. AI should drive measurable value, be cost-effective, and protect the brand's reputation. AI solutions must be fine-tuned to meet specific business challenges, and internal teams should be educated on their use. Moreover, businesses should be wary of using resource-heavy AI models in every scenario when smaller, specialised models could perform just as well. The expo’s Klevu Breakfast Panel emphasised that AI should solve specific problems rather than being applied broadly. As one expert put it, "Don’t use a sledgehammer to crack every single nut."
6. Sustainability and performance go hand in hand
Sustainability was a hot topic at the expo, with experts stressing the link between site performance and environmental impact. Fast-loading websites not only improve the user experience but also reduce energy consumption, contributing to a more eco-friendly digital footprint. Optimising site performance—like reducing page load times and image sizes—can boost both sustainability and business performance. Sustainable ecommerce practices aren’t just good for the planet; they also attract eco-conscious consumers and cut operational costs.
7. Establish AI governance to protect your brand
While AI brings tremendous potential, proper governance is essential to align it with business goals and privacy regulations. The expo highlighted the risks of poorly governed AI, such as chatbots giving inappropriate responses or algorithms making incorrect product recommendations. Establishing strong governance practices ensures that AI tools are continually fine-tuned and monitored for optimal performance, protecting your brand’s reputation.
8. Choose the Right AI Partners
Choosing the right AI vendor is about more than just the technology—it’s about the value they deliver. Ask key questions about the algorithm’s robustness, maturity, and unique features. A great vendor doesn’t just offer cool tech; they bring a proven track record of driving higher conversion rates and measurable ROI. Finding a balance between innovation and thorough due diligence can help you avoid costly mistakes.
9. Proof-of-Concept trials are essential
Starting with small, proof-of-concept projects ensures AI serves as part of a larger strategy—not the entire strategy itself. Before committing to any AI tool, proof-of-concept (POC) trials are necessary to assess its real-world effectiveness. Many AI vendors now offer low-code or no-code environments for quick POC testing, enabling businesses to pilot AI projects without extensive resources. POC testing ensures that the chosen solution aligns with specific business needs and provides measurable insights before full-scale adoption.
10. Modernisation is critical for sustainable growth
As customer expectations evolve, modernising eCommerce platforms is essential for staying competitive. Flexible, agile systems are key to scaling operations, offering personalised experiences, and leveraging real-time data. Legacy platforms, on the other hand, can hinder scalability and innovation, preventing businesses from keeping up with market demands.
