On a recent episode of the Transfix Take On podcast, Vishnu Rajamanickam, founder of The Logistics Report, joined host, Jenni Ruiz, to discuss three emerging e-commerce trends that have the potential to affect the way consumers purchase goods and as a result, impact freight volumes in both the FTL and LTL sectors.
Trend 1: The Economic Impact of Doomscrolling
Social commerce has become the keystone of why Americans rang up $12.4 billion worth of online purchases on Black Friday sales alone last year (Axios). Platforms like TikTok and Instagram have incredible sway over consumers’ choices, and purchasing recommendations will only improve.
Hubspot reported that 27% of consumers prefer to discover new products through social media over any other channel. In 2022, global sales through social media platforms were estimated at 992 billion U.S. dollars, with that number estimated to hit well over a trillion dollars in 2023.
Trend 2: AI Will Sophisticate the Buying Experience
Rajamanickam said: “OpenAI, Alexa, and Siri already know if we’re using a smartphone, and these things are listening to our private conversations even if we’re not speaking with them directly. They record and understand your patterns to recommend things that are in our subconscious. So when the product comes on the screen, we’re tempted to buy it.”
He predicts that down the road, AI will directly collaborate with social commerce.
Trend 3: Virtual Reality Gestures Could Making Buying Even Easier
The wider adoption of VR headsets and Augmented Reality (AR) will be the next big trend sweeping the e-commerce world, predicts Ruiz. Soon, retailers will ramp up product placement while they game, making it that much easier to purchase a product by simply making a gesture. You may even be able to preview the product in your home or on your avatar before committing. Companies like Starbucks and Crate&Barrel have already started to integrate their products with AR companies like ThreeKit.