“When all else failed, eCommerce was there. It was not something any of us could have foreseen but it is clear that the tipping point has now been reached. Those last people who held out against online shopping have been onboarded and most have stayed after seeing the benefits. We’ve also seen critical and rapid calibration of supply chains and delivery to maintain and even enhance eCommerce experiences as the industry scales up.”
Here are our top takeaways from this study:
Growth and unpredictability
In 2020 consumers spent 30% more than the previous year. eCommerce has been developing for a long time but due to the sudden changes in 2020, things skyrocketing. The biggest challenge is understanding Covid19’s impact on the market without giving it center stage. Statistics were difficult to track and some trends became a flash in the pan. With so many changes what was working one week dropped the next.
Creative approach to research
The research method itself is noteworthy. Rather than asking thousands of people for their opinions, Divante went straight to business leaders who spearheaded eCommerce. The first was to aski them to rank the trends from the previous year’s report and see what stuck around. The second was to get these business leaders to identify what was important this year versus the previous analysis. An expert panel, so to speak.
Categorisation of trends is also interesting and speaks to the complex and sometimes overwhelming range of possible investment. By segmenting findings and analysis into “Do It”, “Quick Wins”, and “Game Changers”, this study frames options like mobile applications, marketplaces, to virtual reality.
AI and social commerce became hot topics in 2020 and will be essential going forward. Data security will continue to be top of mind after this year because of the new avenues for cyberattacks that appeared during the pandemic. Go-To-Market strategies have shifted a bit from a single brand store to multi-vendor marketplaces.
Timelines as inflection points
In Feb 2020, Shopify joined Facebook, creating a cascade of consequences. Allegro’s entrance into the stock market, as Poland’s biggest IPO likewise marks a milestone for the industry, as local giants flex muscles on a global landscape. A handy reminder that successful marketers will keep an eye on events outside normal operating remits that could shift sentiment in a big way.