Retail Trends to Watch in 2024

Retailers Look to Stores, Social, and AI to Gain a Competitive Edge

Report by Sky Canaves, Suzy Davidkhanian, and Blake Droesch  | Dec 14, 2023
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Table of Contents
Retailers will take on Amazon by leveraging the in-store experience
China’s influence will shake up online shopping
TikTok Shop will give livestreaming commerce a glimmer of hope
In retail media, the long tail will need to forge partnerships to compete
GenAI moves from experimentation to implementation for hyperpersonalization
Sources
Media Gallery
About This Report
Consumer behaviors will be shaped by continued uncertainty, heightened in an election year, and cultural trends spilling over into commerce (think Krispy Kreme and Ozempic). Retailers that lean into tech advancements and get back to basics will win.
Topics
Ecommerce Sales
Retail Sales
United States
Table of Contents
Retailers will take on Amazon by leveraging the in-store experience
China’s influence will shake up online shopping
TikTok Shop will give livestreaming commerce a glimmer of hope
In retail media, the long tail will need to forge partnerships to compete
GenAI moves from experimentation to implementation for hyperpersonalization
Sources
Media Gallery

In 2024, consumer behavior will be shaped by continued economic uncertainty. Meanwhile, retailers will have to contend with a variety of competitive forces that will impact how they run their business. Stores will have a reawakening; newer ecommerce players with ties to China will shake up shopping; the retail media network (RMN) long tail may fold; and AI will continue to push the hyperpersonalization envelope.

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Table of Contents

  1. Retailers will take on Amazon by leveraging the in-store experience
  2. China’s influence will shake up online shopping
  3. TikTok Shop will give livestreaming commerce a glimmer of hope
  1. In retail media, the long tail will need to forge partnerships to compete
  2. GenAI moves from experimentation to implementation for hyperpersonalization
  3. Sources
  1. Media Gallery

Charts in This Report

Despite the Rise of Ecommerce, About 80% of US Retail Sales Still Come From Physical Stores (trillions of retail sales and non-ecommerce % of total, 2023-2027)Temu's US Online Traffic Approached No. 3 eBay's Less Than a Year After Launching (millions of unique visitors, Sep 2022-Sep 2023)
How Interested Are US Adults in Livestream Shopping*? (% of respondents, by age, Oct 2023)Notable Social, Retail, and Digital Advertising Partnerships in 2023
Attitudes/Actions Around Generative AI According to US* Ecommerce Professionals, July 2023 (% of respondents)

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authors

Sky Canaves, Suzy Davidkhanian, and Blake Droesch

Contributors

Amy Rotondo
Director, US Research
Paul Verna
VP, Content
Max Willens
Yoram Wurmser
Principal Analyst