No matter if you're a small business or a large retail corporation, your logistics solutions are what defines your success in the modern world. As we're already half-way through 2018, it's the perfect time to reflect on the growing trends of ecommerce trends for retailers.
Looking back on the trends from 2017, we can safely say that it was a pretty big year for the retail and supply chain industries. Ecommerce bloomed while physical stores closed increasingly. Today, it's no secret that more and more stores are moving online, since the way we consume has changed. Now, it is up to the retailers to keep up with the trends and make the necessary improvements and innovations.
That said, with more retailers moving online and consumer behaviors changing, it is beyond a single doubt that technologies and logistics strategies mark the key to maintaining a competitive edge. For example, last year alone we saw how retailers revamped their ecommerce strategies in numerous ways, which included partnering with carriers such as SPARX to improve delivery promises.
Given all this data, it is clear that we will still see more investments in logistics technology when it comes to retail, which will mainly focus on improving brand awareness, gaining market share, catering to latest consumer behaviors and driving online sales. Here are some trends that we will be seeing in 2018 ecommerce.
Next day delivery is becoming the new standard
Think about it, when you order something online, you are eager to have it delivered as soon as possible. Carriers all over the world are working on minimizing the delivery wait times as much as they can. As ecommerce grows more and more popular among retailers, it becomes much harder to stay on top of competitors and deliver something that hasn't been seen before. To do this, more and more businesses will adopt the free next-day delivery strategy to ensure customer satisfaction.
Large legacy retailers will adopt a start-up mentality
The thing about legacy retailers is that although they might have great brand recognition, they are not digitally native. What this actually means is that they were previously forced to build websites with the rise of the internet, and that they are now in a constant struggle to keep up with the era, rather than being a part of it. This is a huge advantage that most start-ups have today, but don't recognize.
In terms of ecommerce, we will be seeing a shift in the mindset of large retailers in terms of getting rid of the old and incorporating the new, specifically when it comes to mobile and desktop optimization to stay competitive. For those wondering why should this task be considered as a difficult one, let's just say that it requires a completely new business model to adopt all these changes.
Luxury retailers will keep up with fast fashion
Following the idea of the previous point, it makes sense that we will be seeing more of luxury retailers going head-to-head with fast fashion. Luxury retail lies on the grounds of experience - that unique feeling you get when you walk around the store and make the purchase - which is very different from fast fashion stores. From now on, we will be seeing much more emphasis on delivering the digital experience that resembles the one from a luxury store.
Mobile commerce will bloom
There is no doubt about the success of mobile commerce. According to statistical data, the ecommerce retail trade sales in Canada amounted to over 1.8 billion Canadian dollars as of 2017. As far as the holiday season is concerned, retail e-commerce sales totalled $1.9 billion in December, accounting for 3.4% of total retail trade. In the USA, there were $2 billion in mobile purchases on Cyber Monday alone. As these numbers continue to rise by the day, it is safe to say that we will be seeing much more of mobile purchases, including shopping via SMS.
Acquisitions and partnerships will fuel market share gains
As far as partnerships and acquisitions are concerned, we will be seeing more of those in the future, much like we saw a lot of them in 2017. Every major merge, acquisition and partnership has only one goal, to support ecommerce growth, the future of shopping.
If these growing trends haven't convinced you of the growing popularity of ecommerce, it's time to start some research and prepare yourself to stay on top of competitors. Contact SPARX today, your shipping company that delivers both promises and packages.