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December 1, 2023

7 trends to look up for in 2024 if you are a Magento merchant

Magento is a powerful and flexible eCommerce platform popular among online merchants for many years. As we look ahead to 2024, there are several trends that Magento merchants should keep an eye on to stay ahead of the competition. One of the most significant trends is the rise of composable commerce architecture, which involves assembling bespoke eCommerce solutions by combining various best-of-breed services and platforms. We’ll also analyse other exciting trends such as AI in the Magento world, product recommendation, and game-changer solution to Magento’s performance problems, Magento integrations to social media platforms, voice commerce, and augmented & virtual reality. We have a lot to cover, so let’s dive in!

 

1. Magento & Composable Commerce Architecture

Composable commerce architecture is a business practice enabled by headless technology, which involves assembling bespoke eCommerce solutions by combining various best-of-breed services and platforms. As an open-source platform, Magento makes it an ideal choice for composable commerce. 

Its API-first approach enables developers to build composable applications with innovative, high-performance business services. Developers can combine multiple sources of API into a single unified graph using an API mesh, which shortens development from weeks to hours and reduces maintenance costs. 

With Magento’s modular, open architecture, you and your development company have control over every aspect of the application and the ability to extend Magento capabilities in a serverless, scalable environment. You can leverage Adobe Developer App Builder to integrate with third-party services and build composable shopping experiences to maximise composable commerce architecture on Magento. 

Overall, with Magento and composable commerce architecture, you as a merchant can deliver seamless, connected customer experiences across every channel and device and control every customer interaction anywhere, at any time.

 

2. AI in the Magento world

Artificial Intelligence (AI) is not a new concept in the e-commerce industry, but it is becoming more accessible and powerful for Magento merchants in 2024. AI can help Magento merchants improve their online store performance, customer experience, and business growth.

AI can make product search more robust and accurate by understanding the natural language and intent of the customers, even to personalise the experience, but more on that later in this blog. AI can also provide visual search and autocomplete features to make the search process more convenient and user-friendly. 

AI can also help Magento merchants optimise inventory levels, reduce costs, and avoid stockouts. AI can forecast the demand and supply of products based on historical data, market trends, and customer behaviour. Because of its automating capability, ordering products and detecting and preventing fraud and theft is maximally efficient.

 

3. Product Recommendation

Personalised product recommendations are among the most effective ways to increase customer satisfaction, loyalty, and conversion rates.

As mentioned, AI can analyse customer behaviour, preferences, and purchase history to suggest relevant products that match their needs and interests. This can increase customer engagement, conversion, and loyalty. Magento merchants can use the AI-powered product recommendations feature powered by Adobe Sensei to deploy automated and intelligent product recommendations across their storefronts quickly.

 

4. Magento performance game-changer

If you are a Magento merchant looking to boost your store performance and user experience in 2024, you need to consider using the Hyvä theme. Hyvä is a lightweight and modern Magento 2 theme that uses modern technologies such as AlpineJS and TailwindCSS. Hyvä reduces the complexity and the amount of code shipped to the user, resulting in faster loading times and better SEO rankings while maintaining a more stable overall webshop. Hyvä theme offers an extension ecosystem and a supporting community to help your developing partner build the fastest and most beautiful stores. Hyvä theme can help you save 30 to 50% in average build time compared with the default Luma Theme. That means you can reduce your time-to-market and your total cost of ownership. 

Hyvä theme is the perfect choice for high-speed Magento stores that want to make their customers happy in 2024, and if you wish, you can learn more on our detailed Hyvä blog post here.

 

5. Magento platform integration to social media

Social media is a powerful place for every Magento merchant. Integrating social media with your Magento store can reach more potential customers, increase brand awareness, and boost sales. 

You can easily take advantage of the above-mentioned personalised product recommendations through your social media channels. Customers expect personalised and relevant experiences when they shop online. Every Magento merchant can use social media data to segment their audience, tailor their offers, and recommend products based on their preferences and behaviour.

Also, leverage social commerce, which sells products directly on social media platforms without redirecting customers to a separate website. You can use social media extensions to integrate their store with Facebook, Instagram, Pinterest, and other platforms, enabling customers to buy their products with a few clicks.

 

6. Voice commerce

Magento has been supporting voice commerce on its platform, allowing customers to use voice assistants, such as Alexa, Siri, or Google Assistant, to search for, browse, and purchase products online. Magento voice commerce can integrate with the Magento API, the GraphQL API, or third-party services, such as Amazon Alexa Skills or Google Actions, to enable voice interactions with the store. You can also leverage the voice assistants’ natural language processing and speech recognition capabilities to provide a smooth and intuitive shopping experience.

 

7. Augmented & Virtual Reality

Magento has been enabling also AR and VR experiences on its platform, allowing customers to view products in 3D, try them on virtually, or explore different scenarios. Magento 3D product visualisation will enable customers to rotate, zoom, and interact with products in 3D on the web browser or mobile devices. Magento virtual try-on allows customers to use their camera or upload a photo to see how products like glasses, jewellery, or makeup would look on them. Magento virtual reality will enable customers to use VR headsets, such as Oculus Rift or Google Cardboard, to immerse themselves in a simulated environment, such as a hotel room, a car, or a museum.

If you’re a Magento merchant with an attractive physical product, you should pay attention to these trends in 2024 and beyond.

 

Conclusion

The e-commerce landscape constantly evolves and offers new opportunities and challenges for Magento merchants. By staying on top of the latest trends and technologies, you can create more engaging, personalised, and omnichannel shopping experiences for your customers. If you need help growing and staying ahead of the game, contact us, and let’s make it happen!