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~ eShopWorld~

cross-border. Overall, most shoppers (71%) order products innovations that enrich the online shopping experience.
from another country in order to avail of better prices. Ac-
cess to items not available in the shopper’s home country E-commerce entrepreneurs, on the other hand, have the op-
(49%) and the discovery of new interesting products (34%) portunity to offer a better, more suitable assortment to their
are the other two main motivations for shoppers to shop customers, decreasing the chances of returns and increasing
cross-border. the chances of potential sales.

Both in domestic as well as cross-border sales, the fashion Another major development takes place in the field of voice
market segment is the largest. In 2018, the global revenue of commerce. It has the potential to revolutionise the e-com-
the fashion e-commerce market reached $600.99 billion. It merce shopping journey and change how consumers interact
is predicted to grow to $825.55 billion in 2022. The second with online retailers through voice search and purchase.
largest market segment is consumer electronics. Finally, online payment methods are also developing at
high speed. Purely online payments and other alternative
Growth stimuli payments are rising to meet the needs of consumers online.
A market is not just growing by itself. In any case of growth, E-wallets, bank transfer payment solutions and mobile pay-
there are always stimuli that make something grow faster. ments are becoming more common in a lot of e-commerce
Of course, there are threats that can slow down develop- markets. Alternative, blockchain technology and cryptocur-
ments as well. In the current global e-commerce market, five rency technology are developing as well, and online shops
general trends can be seen to stimulate growth: can begin to consider offering these forms of payments at
checkout, which do not require any intermediaries when a
• Customer experience payment is made.
Improvements to the checkout process to make it as seam-
less as possible for the shopper, such as a one-step check- A view on promising markets
out, are one focus area for customer experience initiatives. In general, it can be stated that, due to the popularity of
Loyalty and membership programmes are also proving e-commerce and current technological developments, many
popular methods among online retailers for improving the online markets show a growth trend. Taking a closer look,
customer experience. a few emerging markets may be worth keeping an eye on
in the coming years. Brazil, India, Indonesia and Singapore
• Omnichannel are particularly promising markets. E-commerce cur-
Consumers like to shop as they please. Sometimes that is rently accounts for a moderate amount of total retail sales
online, sometimes it is not. Click and collect and checking (3.3-4.8%) in these countries. However, over the next few
store availability online are two key omnichannel capabili- years, substantial growth is expected. In Brazil and India,
ties that shoppers are demanding. the fashion market is booming, whereas in Indonesia and
Singapore we can see a high growth rate in the consumer
• Delivery optimisation, last mile fulfilment & returns electronics market.
Parcel delivery boxes, premium packaging, and import
consolidation are current innovations in this area. More Deciding to start selling cross-border can be a challenge. Do
long-term innovations are drones, autonomous vehicles, not forget to carefully research future markets of interest.
and delivery robots. The developments in these fields are Statistics can be helpful to identify potentially interesting
picking up at rapid pace. markets and help you decide which markets you want to
research more in-depth. ••
• Innovative product discovery developments
Visual image search and voice search are opening up new
methods of product discovery, while social media is ena-
bling more efficient product discovery.

• Customer segmentation and personalisation
Big data allows retailers to segment and analyse consum-
ers based on their habits and shopping behaviour, which is
driving a move towards personalisation.
Research:
The endless opportunities of technology The full Market and Innovation Report can be downloaded on
Technology can be considered one of the key drivers of eShopWorld’s website. Follow this link:
e-commerce. Currently, developments in the fields of arti- https://www.eshopworld.com/market-innovation-report-q1-19/
ficial intelligence, augmented reality and virtual reality are
gaining strong momentum. Consumers benefit from these

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