Major eCommerce Stories To Watch in 2024

The past twelve months has been the biggest year for online retail and business in human history, continuing a pattern that has steadily been trending upwards for over two decades.

Estimates vary but there is a general consensus that by year’s end 2023 around $6.3 trillion in eCommerce sales had been made, an increase of 10% on 2022’s figure of 5.7 and a staggering figure of 425% over 2013’s $1.2 trillion.

While impressive this is not unexpected as several long term factors have come together to boost the sector’s growth this side of the millennium. Among them is the fact that no less than 3 billion people – or 38% of the global population – have newly come online in the past decade, with a further billion expected before the end of the decade. 

The rise of the smartphone has also had a significant part to play, easing access to web stores and further increasing the on-demand value proposition of eCommerce. And all of this was well underway before the global disruptions of the 2020s that served as a huge catalyst for the market’s growth.

Ultimately, consumer preferences are shifting, and high streets and shopping malls are not what they once were. In the knowledge that competition with the likes of Amazon and Walmart is unsustainable, high streets across the world are pivoting towards investment in experiential retail, entertainment, and food outlets, further emboldening the runaway success of the eCommerce juggernaut.

As we move into 2024, this growth is set to continue on its well-trammelled path, but a number of interesting innovations are underway that look set to impact this sector in surprising ways.

A Post-Algorithmic Era?

Algorithms have come to dominate virtually every interaction with goods and services we make online, and for good reason. There is an incalculable amount of information on the internet today, and sorting through it in a timely fashion is simply beyond human capacity. 

Algorithms give us a leg up by filtering this information based on contextual cues, thus helping us navigate it more effectively. They’re in evidence everywhere – from when shopping for items on Amazon, to trying to choose a new show to watch on Netflix, and of course, it’s algorithms that ensure your Instagram feed remains well stocked with cat videos. 

But algorithms are not always helpful or ideal, and in 2024 we will continue to see a reappraisal of their use across a number of sectors. Why? Because sometimes people want human expertise and input and put a lot of stock in knowing the recommendations they’ve fielded are a product of more than a series of ones and zeroes. 

To see this is evidence of the need only look to the world of iGaming and online casinos, where a growing number of dedicated recommendation platforms like VegasSlotsOnline and rolling back the algorithmic tide in order to furnish their users with competitive deals and welcome offers on a range of top tier gaming providers. 

This is one sector where people have come to depend on industry experts to sort through the mass of options available and connect them with casinos they can trust. In light of this, platforms such as this offer reviews and rankings to assist gaming aficionados in accessing quality experiences they can rely upon.

The Rise of GenAI

You’ve no doubt noticed that the whole world seems to be abuzz with ChatGPT this, deep fake that. It seems like nowadays there’s no escaping the headline grabbing exploits of the next generation of AI and its many implications for work, design and society at large.

Naturally, online business and eCommerce is far from immune to this impact, and 2024 will be the year that AI goes truly mainstream. It’s hard to name a single big tech company or online brand that isn’t investing heavily in AI and exploring ways that it can be used to provide consumers with an improved experience.

From new chatbots, to automatically generated deals, AI will impact the experience of online shopping significantly. Though a larger paradigm shift is also underway, one that will see AI increasingly serve as an intermediary between you and the internet at large. This is already being demonstrated by Microsoft’s Bing search engine which has ChatGPT 4 integrated into it. 


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