As we hurtle towards 2019, it’s important that together, we reflect on what’s happened in ecommerce over the last 12 months. This helps you to focus your efforts and resources ahead of the holidays and New Year.
It’s almost that time of the year where we lay down our tools and enjoy a festive feast. Not so fast - there’s still plenty of work to be done in the ecommerce space before we hit 25 December and to ensure we’re capitalising on all of the retail opportunities available. At times, it’s best to take a trip down memory lane to learn the lessons that’ll make for an epic 2019 and beyond. We’ve put together an overview of how the ecommerce landscape looks right now, highlighting some of the current trends in the retail space. Let part 1 of the fun begin!
As expected, online retail spending has gone from strength-to-strength, with shoppers increasingly expecting a seamless user experience across all channels. Now’s a good time to get your omni-channel marketing up to scratch if it isn’t already.
In 2017, Buy Now-Play Later (BNPL) payments account for 7.7% of total online goods spent with 1 in 5 of online purchases now being made from a mobile device. Meanwhile, marketplaces grew by a whopping 74.8% - and we’re talking in 2017 alone! Additionally, we know more and more people are researching before buying online. We’re seeing more companies relying on B2B sales, which are accounting for a considerable amount of their revenue. And companies who have been a bit slow to the online space are planning to move online within the next 24 months or sooner.
More and more, shoppers are holding off on making purchases until they see bargains, sales and deals that grab their interest. As we blogged about last month, events such as Black Friday and Cyber Monday are increasingly becoming massive retail events. Aussies splashed out over $200 million on Black Friday last year according to The Sydney Morning Herald. Meanwhile, as mentioned in our Click Frenzy post, Australia Post reported a 27% increase in volume between Black Friday and Cyber Monday in 2017.
Woven HQ: a snapshot behind the scenes
Our team is constantly tracking trends so that we continue to build solutions that best meet our clients’ needs. For both today and tomorrow. We remain one step ahead of the trends by developing solutions and answers for what we’re seeing on the ground. Our team can help your business to get up to speed if you’re lagging behind.
Woven’s bread and butter is:
- Specialising in developing robust B2B ecommerce solutions that also look the goods.
- Looking ahead to the future, which has seen us investing in a number of BNPL options including Openpay.
- Focusing on mobile-first templates and mobile sales to provide better insights to pave the way for more quality B2B leads and interactions.
- Working on solutions that tie into the latest trends, the popularity of marketplaces for instance. We’ve worked hard to develop an Amazon connector solution that is a bi-directional connector. This simplifies the listing process through automation, increasing ease and accessibility for our clients. We also have a marketplace connector for eBay.
Consider this the beginning of our look at what happened in 2018. In part 2, we’ll continue picking apart the last 12 months so that your business can learn the lessons and power into 2019 and beyond!
Need help with anything ecommerce related before 2018 packs its bags? Contact our team at Woven today.