Spring awakening couldn't pass by the eCommerce industry! With the arrival of the new season in the world of online commerce, a number of changes can be observed - from the evolution of consumer shopping habits, through new development paths for the B2B sector, to innovative tools for personalising shopping experiences. The latest industry news is presented in the 68th edition of the Advox Press Release - briefly, so you can quickly catch up and stay informed. Read on and step into the next season of eCommerce reality!
OLX.pl explores new shopping habits of Poles
With the help of a smartphone, from anywhere, and even several times a week - this is how the increasingly common online shopping behaviour of Poles can be described. This approach is particularly characteristic of the younger generation (including Generation Z, born between 1996 and 2015). OLX.pl, a popular online marketplace in Poland, has conducted a study on the new shopping habits of Poles. The results of the report prepared by the company indicate that:
- the smartphone is the preferred device for online shopping, especially popular among Generation Z (93%),
- young people make purchasing decisions based on emotions, unlike older consumers who tend to plan their expenses more meticulously,
- the most frequently purchased product categories are "clothing and footwear," followed by "electronics" and items related to passions and hobbies,
- purchase decisions are increasingly preceded by active searching, product comparisons, and waiting for attractive price offers,
- when using online shopping apps, users pay special attention to intuitive interfaces, personalised offers, and proper encryption of confidential data.
Is your online store keeping up with changes in consumer behavior? You can find more insights from the OLX report here.
B2B Industry development in eCommerce doesn't slow down (But encounters obstacles)
Online B2B (business-to-business) sales, transactions between businesses, are gradually surpassing consumer sales in the B2C (business-to-customer) sector. According to the "B2B Checkout Report 2024" by Billie, a company offering deferred payment systems for businesses, the B2B market in Europe could reach a value exceeding $1.7 trillion by 2025.
Despite the dynamic growth of the B2B sector, the report indicates that entrepreneurs still do not fully utilise the opportunities offered by online sales. What conclusions can be drawn from analysing this report?
- The most developed European B2B markets are Germany, France, and the United Kingdom, but they still do not match up to large global markets like the USA or China.
- Half of European businesses use sales platforms.
- Entrepreneurs mainly buy from domestic platforms, rarely opting for purchases from foreign online stores. This indicates untapped potential for cross-border commerce in the B2B sector.
- There is also room for improvement in the area of payments. Many European companies still face problems accessing fully automated and digital payment methods, which complicates processes and cash flow management.
You can find the full report at this link. What other opportunities for the development of the online B2B market do you see?
What do online shopping and dating apps have in common?
According to data provided by Google, users of this search engine make purchases over a billion times a day, choosing from an impressive selection of over 45 billion available products. Choosing from such a vast array of options can be time-consuming and even frustrating. To enable customers quick access to products best suited to their preferences, the company has introduced a new search personalization service. What exactly does it entail?
The new feature relies on artificial intelligence algorithms and data collected directly from users. Its operation currently focuses primarily on recommending products in the "fashion, clothing, and accessories" category. Users browsing through the search engine will be able to use the "style recommendations" section, where they can select products that best match their preferences. The mechanism of action is simple and resembles solutions already known from other apps (e.g., popular dating apps) - while browsing products, users can swipe right for those they like and left for those that don't fit their style (and if the customer has no opinion about a particular product, they can simply skip it).
After completing the assessment, Google will display personalised product recommendations and remember the results to use in future searches. Currently, only residents of certain US states can test this feature, but the company plans to expand its availability to more countries. What do you think about this approach to online shopping personalization? You can read more about Google's service here.
