What is the condition of the Polish eCommerce industry in the second half of 2023? What tools are worth using in your e-business, wanting to increase sales? You can find the answers to these and other questions by browsing the latest news from the world of e-commerce. Fortunately, you don't have to look far, because, as every two weeks, you will find a digest of the most important news in the pages of Advox News. Don't delay and read it now!
What's in store for the eCommerce market in the next six months?
Progressive inflation, as well as the still-feeling effects of the COVID-19 pandemic, have contributed to the eCommerce industry's growth slowing temporarily. However, forecasts for eCommerce in the second half of 2023 are proving optimistic. What exactly can we expect?
A survey conducted by Admitad shows that the coming months promise to be promising for online sellers. Despite the fact that inflation still has a decisive influence on Poles' management of their own budgets, there are a number of factors that affect the attractiveness of online shopping. These include:
- cashback services - the number of orders generated through this route increased by 20% in the previous six months alone,
- mobile advertising - the number of sales through ads in mobile applications doubled compared to the previous year,
- dynamic development of sales platforms - they now generate more than 60% of all online transactions in Poland.
According to experts' forecasts, the country's eCommerce sector will continue to grow, attracting a growing customer base and presenting a variety of growth prospects for companies active in this field.
You can read about forecasts for the second half of 2023 here. What else do you think the future will bring?
How to increase online sales? BigCommerce Study
What modern tools should you implement in your e-store to increase sales efficiency? That's what eCommerce industry experts are talking about in a recent study by BigCommerce. The analysis conducted covers a broad view of the e-commerce market. Specialists from the European Union, as well as the United Kingdom and the United States participated in the survey. 90% of them assessed the positive impact on e-commerce ROI:
High conversion rate
Conversion is defined as the percentage of people completing the expected action (such as buying a product or creating an account) relative to all visitors. Maintaining this ratio at a satisfactory level translates into real profits and higher sales. In online stores, the average value of this ratio is between 2.5 and 3%. On the other hand, maintaining its amount above the average can indicate a highly competitive business.
Personalization
As the industry grows, consumers are looking for customized shopping experiences. Meeting these demands helps build buyer loyalty. Personalization helps achieve this goal. A personalized approach to the customer can include, among other things, product recommendations, exclusive discounts or the implementation of preferred payment methods. Such practices translate directly into increased sales - almost half of shoppers are ready to order again after receiving a personalized shopping experience.
AI tools to support conversions
The popularity of artificial intelligence-based technologies has contributed to the emergence of a new term, conversational commerce. It includes the implementation of AI (Artificial Intelligence) solutions that guarantee further personalization of the shopping experience. Chief among these are voicebots and advanced machine learning models. It is in this direction that more and more industry leaders are investing.
Are you using modern solutions in your e-business? Find more examples of online sales support tools here.
Do marketplaces offer lower prices in every case?
Amazon, eBay or Kaufland - these are some of the most recognizable marketplaces in Europe. Customers are increasingly not only placing orders through such platforms, but also repeat purchases. It turns out that the reason for the popularity of this form is not always low prices. Idealo examined more than 1,7,000 product categories. The analysis showed that in only 22% of cases the prices offered by marketplaces were lower than in online stores.
For different types of products, the price differences vary. The lowest prices ( compared to online stores) can be found among the categories:
- fashion and accessories (44%),
- automotive (35%),
- children and toys (30%).
By contrast, in categories such as home and garden and sports and recreation, the prices of individual products may be higher than in single-brand online stores.
You can find a detailed analysis of prices in popular marketplaces at this link. What do you think of these results?
