E-commerce platforms have become a preferred channel for manufacturers, brands, and merchants to launch and test the viability of new products. In addition to offering wider customer outreach, the expansion of services around warehousing, delivery, and payments has only made online platforms a more attractive route to market. However, selecting the right e-commerce platform to partner with is critical to the success of an online product launch.
Loyalty is at a crossroads with businesses rethinking and revitalising their brand strategies in light of the changing consumer preferences, e-commerce boom and dynamic economic conditions. Curating an emotional bond with consumers becomes a dominant factor for adding value and increasing retention.
When it comes to e-commerce investment, emerging markets have long been overshadowed by developed countries. However, as e-commerce penetration and online sales growth rates mature in developed countries, players across the digital ecosystem are shifting focus to emerging markets.
Amazon dominates in online sales of beauty and personal care in the US and is continuing to make gains in most categories. Amazon's success in beauty and personal care is due to its competitive pricing, product range, and logistics, but also to its savvy seasonal strategy, especially during the holiday season and its annual Prime Day promotion.
E-commerce growth rates are slowing from historic highs, meaning the channel is no longer a rising tide for all categories and brands, as it was in 2020. In Poland, however, the potential of the digital channel remains high, with e-commerce expected to account for 40% of all retail sales growth in the country over the next five years. This article will focus on brands' and retailers’ strategies to uncover e-commerce opportunities amid uncertainty.
As global eyes turn again to China to monitor its current economic situation, understanding what is happening at the micro level can provide insights into how consumers are reacting to the current economic situation and how manufacturers and suppliers can best position their products to compete in this unprecedented environment.