The ecommerce industry is a fast moving industry. Intel Roundup helps figure out what is happening that has a big impact on your business. For example, China’s appetite for ecommerce shopping knows no limits. Or, the fact that advanced analytics tools continue to remain at the top of the wish list for ecommerce merchants.
We hope you enjoy this roundup of recent industry intelligence and use it to inform your decisions.
P.S. your coworkers might thank you for forwarding this their way…
Consumer Behavior
Nearly 60% of consumers will use a mix of online and in-person shopping for the holidays, but just 13% plan to shop entirely in physical stores, while 24% plan to shop entirely online. – See here
63% of consumers agree that personalization is now part of the standard service they expect. – See here
For 37% of consumers, personalized offers or messages presented by brands will make them even more likely to purchase or use services from that brand in the future. – See here
33% of consumers become very frustrated when a company sends them offers that aren’t relevant to them or that they wouldn’t be interested in. – See here
37% of consumers will no longer do business with a company that doesn’t offer a personalized experience. – See here
73% of consumers believe that brands are struggling to meet customers’ rising expectations for a personalized experience. – See here
Ecommerce Growth
Retail sales during the holiday season could rise 7% to 9%, according to the latest projections from Deloitte. In total, sales could reach up to $1.3 trillion. Deloitte projects ecommerce sales could grow 11% to 15% year over year, or up to $218 billion. – See here
Asia Pacific and Australasia could generate an additional $68.5 billion in ecommerce sales By 2025. It’s estimated that Asia Pacific and Australasia’s online sales expansion will account for more than 45% of global e-commerce growth from 2020 to 2025. – See here
During 2020-2025, ecommerce in Asia will account for more than half of the absolute value growth of the global retail sector. That equates to USD1.36 trillion of absolute value growth. – See here 74% of global industry professionals working for retailers and consumer brands said in an October survey that they expect the crisis-led rise in online shopping to become permanent. – See here
China ecommerce to top $3.3 trillion in 2025. GlobalData predicts strong growth of 17.2 percent this year, as consumers increasingly shift from offline to online. Between 2021 to 2025, the size of the ecommerce market is expected to grow at a strong compound annual growth rate of 11.6 percent between 2021 and 2025 to reach 21.4 trillion, or $3.3 trillion in 2025. – See here
Webinar: Black Friday Follow-Up: Black Friday is Over, Now What?
FedEx, Salesforce announce end-to-end ecommerce solution. The combined solution will allow companies to innovate and automate processes while simultaneously handling inflated demand. They’ll have access to the millions of customers already shopping on FedEx’s ShopRunner platform, as well as advanced insights that will increase order visibility. Companies can now also use FedEx’s supply chain tools intended to optimize transportation and fulfillment, increase supply chain intelligence, simplify shipping, manage costs and boost agility. – See here
Shopify launches Shopify Markets to make it easier for merchants of any size to take advantage of the global opportunity by centralizing and enhancing Shopify’s cross-border capabilities. Now, merchants can use Shopify Markets to identify, set-up, launch, and optimize international markets—all from a single Shopify store. – See here
The biggest ecommerce platform in Southeast Asia, Shopee, has successfully leveraged gaming to drive shopping and it’s two other complementary divisions to amass $35.4 billion in gross merchandise value last year. Sea Ltd’s (parent company of Shopee) gaming division, Garena, which is active in 130 markets, is the developer of the blockbuster mobile game Free Fire. The battle royale game has racked up 1 billion downloads and provides winnable coupons that can be used within Shopee. Sea, Ltd is looking to expand Shopee to Poland, India and Argentina with the support of raising $6.2 billion in new shares and note offerings. – See here
Shopify entered a multi-year agreement partnership with Yotpo, supported by a strategic investment of $30M. This expansion of an existing collaboration between the two companies will position Yotpo as one of the early launch partners for new Shopify development features. In this role, Yotpo aspires to develop first-to-market competitive online marketing technologies. Aligning product development roadmaps, the two companies will work to develop shopping experiences that are seamlessly connected between touchpoints and improve the one-to-one relationship between retailers and their customers. – See here
Roku is launching an app that allows Shopify sellers to develop and purchase TV ad campaigns. Roku would not share an exact launch date, but the app is expected to be released ahead of the holiday season. The target here are SMBs that can’t take advantage of connected TV (CTV) ads for streaming services due to high minimums such as Amazon’s $35,000 minimum spend, and Hulu’s self-service ad platform being in invite-only beta phase at the moment. – See here
Advanced analytics remained a huge priority last year for retailers. Among retailers and wholesale technology decision-makers, 52% said they already have these tools in place, 32% of which plan on expanding their use. – See here
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Brandon Klein brings years of experience leading cross-functional teams, go-to-market strategies, and cultures focused on buyer & market expertise within companies ranging from telecommunications SaaS startups to large ecommerce SaaS enterprises. At one point Brandon even found himself pitching a shark from Shark Tank. Ask him which one it was!
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