Artificial intelligence, along with sustainability, subscription services, and social media marketing top the business trends for 2024, according to a survey of more than 750 Amazon business owners conducted by Veeqo, an Amazon-owned multichannel shipping software company.
The top trends, the company adds, all lean on technology for improvement and customer acquisition, with AI and sustainability at the top of the list, Veeqo reports.
Among the survey's key findings:
- Most business sites are considering leveraging AI programs such as ChatGPT in 2024, with 64% considering using AI.
- 41% of surveyed businesses plan to focus on sustainability.
- 41% plan to offer subscription service.
- 29% of business owners plan to focus on social media marketing, followed by 16% who want to gather more customer reviews.
"We've been using AI services to help support us in our product copywriting," said Ben Chappell, co-founder of eChapps. "It has been very helpful with fluffing out our key points and even giving us ideas and alternative options to expand upon ourselves."
Veeqo founder Matt Warren commented that his company is "seeing some exciting developments across the e-commerce space with business owners leveraging AI for the first time to either market their business or improve their relationships with their customers.
Even more interestingly, he said that the survey found that 39% of business owners who considered using AI had worked in the technology industry.
"We're also thrilled to see sustainability take center stage, with 41% of respondents wanting to focus on this effort in 2024, specifically on lowering return rate, reducing packaging and implementing sustainable shipping," said Warren. "As we look to the newest generation of business owners, a whopping 80% of Gen-Z (ages 15-25) are looking to focus on this, which is great to see."
Meanwhile, many business owners said they are concerned that outside forces such as high inflation, supply chain issues, and the potential of a recession could affect their companies, which Veeqo says it can help through its shipping offerings and more.
Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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