The online shopping landscape in Uganda is constantly evolving, and businesses need to stay up-to-date on the latest trends to remain competitive. In this article, we’ll look at 7 online shopping trends expected to shape the market in Uganda in 2024.
From the rise of video shopping and new payment options to the growth of cross-border e-commerce and the importance of fast delivery, these trends will significantly impact how businesses market and sell their products online. We’ll also delve into the role of artificial intelligence and the growing importance of social media shopping in the online shopping space.
Whether you’re a business owner, marketer, or simply interested in the future of e-commerce in Uganda, this article will provide valuable insights into the trends expected to shape online shopping in Uganda in 2024. So read on to learn more and stay ahead of the curve in the fast-moving world of online retail.
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Online Shopping Forecast for 2024: These Trends Will Shape the Industry
Below is a list of 7 trends that are expected to shape the online shopping landscape in Uganda in 2024:
- Video shopping
- New and emerging payment options
- Cross-border online shopping
- Fast delivery
- Influencer Marketing
- Social media shopping
- Artificial intelligence and chatbots
1. Video shopping
Online shopping has undergone significant changes in recent years, and it’s expected to continue evolving in 2024. One trend expected to shape the industry is the increasing use of video content for shopping purposes.
Video shopping involves using video content to promote products or services, and it can take many forms. Product videos, for example, provide close-up views and demonstrations of how a product can be used, while live streaming capitalizes on the “see-now-want-now” mentality of consumers by allowing them to purchase products in real time.
As video content becomes more prevalent, video shopping will likely become a more common aspect of online shopping in 2024. This visually engaging form of media can help shoppers understand a product and make purchasing decisions, and it has already proven to be a driver of sales on platforms like TikTok and Instagram.
E-commerce businesses in Uganda and elsewhere should be prepared to incorporate video shopping into their marketing strategies in 2024 as this trend continues to grow in popularity.
2. New and emerging payment options
One trend expected to shape online shopping in 2024 is the increasing availability of new and emerging payment options. In recent years, there have been several developments in the payment industry, and this trend is expected to continue in 2024.
One example of a new payment option expected to gain popularity in 2024 is Buy Now Pay Later (BNPL). This form of embedded finance allows consumers to purchase merchandise and pay it in instalments over time. Most merchants and platforms offer BNPL services free of interest, making it an appealing option for purchasing high-value items. Local commerce companies like Pay Later UG, Lipa Later, and Mkopa are already offering BNPL services, and it’s expected that this trend will continue to grow in popularity in 2024.
Another trend to watch for in 2024 is the growing popularity of cryptocurrencies as a form of payment. While cryptocurrencies have traditionally been used for trading and investment, many merchants in Uganda now accept them as a form of payment. A significant number of hotels and supermarkets in Kampala already accept Bitcoin as a form of payment, and it’s expected that this trend will continue to expand in 2024.
The increasing availability of new payment options offers more choice and convenience to consumers, but it can also present challenges for businesses as they integrate these options into their e-commerce infrastructure. Companies need to stay updated on the latest developments in the payment industry to stay competitive in the online shopping space in 2024.
Also read; Top 7 Payment Methods for Online Shopping in Uganda
3. Cross-border online shopping
Cross-border online shopping is expected to continue growing in popularity in 2024, particularly in Uganda. The COVID-19 pandemic has contributed to the growth of this trend, as people have turned to online shopping to access goods that may be unavailable or more expensive locally.
A recent report found that 76% of online shoppers have made purchases from outside their own countries, up from 69% two years ago. The top reasons for shopping overseas include the following:
- Lower prices.
- Access to items unavailable locally.
- The discovery of new and exciting products.
In Uganda, cross-border e-commerce is expected to reach new heights in 2024 as traditional barriers to making overseas purchases are reduced or eliminated. Local e-commerce stores like Ubuy, Kikuu, and Jumia Global are also helping Ugandans purchase goods from abroad that they might not be able to find at home.
Fintech solutions for processing cross-border payments, a global logistics network, and a growing number of digitally savvy consumers are all contributing to the growth of cross-border online shopping in Uganda and around the world. It’s expected that this trend will continue to shape the online shopping landscape in 2024.
Also read; How to buy products on AliExpress and ship to Uganda
4. Fast delivery
Fast delivery is expected to be a key trend in online shopping in Uganda in 2024. As consumers demand instant gratification, on-time delivery will be a top priority for e-commerce sellers. To meet the expectations of modern consumers, speed, communication, and personalization will all be critical factors in the delivery process.
Global giants like Amazon have set the bar high with their offering of next-day and same-day deliveries, and Ugandan online retailers are expected to follow suit in 2024.
If a product arrives late, the consumer will likely blame the brand, so local e-commerce companies must revise their order fulfilment strategies to remain competitive.
Also read;14 ways Jumia simplifies online shopping in Uganda
5. Influencer Marketing
Influencer marketing is a trend that is expected to continue shaping the online shopping landscape in Uganda in 2024. Influencer marketing involves businesses partnering with social media influencers to promote their products. It has become a popular way for e-commerce businesses to reach a larger audience and tap into the influence and credibility of influencers.
In Uganda, businesses will likely use celebrities, public figures, and social media stars as influencers to increase sales. By working with influencers, companies can leverage the large following and trust that influencers have built up with their audience and use it to drive sales of their products.
Influencer marketing is a powerful tool that can help businesses reach a larger audience, build brand awareness, and drive sales. It’s expected that this trend will continue to shape online shopping in Uganda in 2024, and businesses must consider incorporating influencer marketing into their marketing strategy to remain competitive.
Also read; Why Ugandan businesses will fail in 2024 and what you can do to save yours
6. Social media shopping
Social media platforms like Facebook and Instagram have already become popular channels for online shopping in Uganda, and this trend is expected to continue in 2024. Social media allows businesses to connect with their customers and showcase their products more personally and engagingly.
One way social media shopping is expected to change or influence online shopping in Uganda in 2024 is through shoppable posts. This feature allows businesses to directly link their products to their social media posts, making it easy for customers to browse and purchase products without leaving the platform.
Another trend to watch for in social media shopping in Uganda in 2024 is live streaming and virtual events. These formats allow businesses to showcase their products and engage with customers in real time, creating a more immersive and interactive shopping experience.
Social media shopping is expected to continue to significantly influence online shopping in Uganda in 2024, providing businesses with a powerful tool to connect with and sell to their customers.
7. Artificial intelligence and chatbots
Artificial intelligence (AI) and chatbots are expected to play a more significant role in online shopping in Uganda in 2024. These technologies can help businesses improve the customer experience by providing personalized recommendations, answering questions, and helping customers find the products they’re looking for.
AI and chatbots can influence online shopping in Uganda in 2024 by providing personalized recommendations based on a customer’s past purchases and browsing history. This can help businesses increase sales by suggesting relevant products to customers and guiding them towards items that may interest them.
AI and chatbots can also be used to answer customer questions and provide information about products, helping to improve the overall shopping experience and reduce the workload for customer service teams. This can be particularly useful for businesses that receive a high volume of customer inquiries, as chatbots can handle multiple quests at once and provide fast and accurate responses.
The use of AI and chatbots in online shopping is expected to make the shopping experience more convenient and efficient for customers in Uganda in 2024, helping businesses to increase sales and improve customer satisfaction.
Also read; How to get Airtel Money Virtual MasterCard in Uganda
Conclusion
In conclusion, the online shopping market in Uganda is expected to continue evolving in 2024, driven by a range of trends shaping how businesses sell and market their products. From the rise of video shopping and new payment options to the growth of cross-border e-commerce and the importance of fast delivery, these trends will significantly impact how businesses operate in the online space. By staying up-to-date on these trends and adapting their strategies accordingly, companies can stay ahead of the curve and thrive in the competitive world of e-commerce.
