(English) E-commerce a new way to channel Supply and Demand

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An easier, quicker and smarter way to buy

There was a time when if you wanted to buy something, you would need to go to the store and make the purchase. Today, the way we buy and sell things has changed for good with eCommerce. Now, browsing on the internet through phones or computers, customers can go in, get to know your business, compare and buy your goods or services at their own convenience.

Electronic Commerce has redefined commerce worldwide by creating new sales channels that are purely digital.

eCommerce breaks the age barrier

This relatively new way of selling has experienced a 23% annual growth rate and total profits went up to 22 trillions of dollars approximately, in 2016 alone.

In Australia, the total spent was an awe-inducing of AU$28.6 billion (US$20.3 billion) in 2018. According to AuPost in 2018 alone, the number of online purchases grew by more than 13% in every State and Territory, with the national average growth over 20%.

73% of Australian households bought something at least once through e-commerce, and this number is expected to continue to grow.

One trend that has profoundly penetrated markets worldwide is the new traditional “sales days”, Black Friday and Cyber Monday brought mainly from American markets. They have become the strongest sales-related days, and e-commerce has capitalized on this trend seeing websites offering sales and seeing spikes in sales during these times.

eCommerce has now even broken the age barrier. Older (and younger) people have chosen this as their preferred form of commerce for all of its advantages: a huge variety of offers, price comparison, constant availability, a ubiquitous presence, and craft shopping experience. 67% of millennials (people between 20 and 37 years approximately) who are most familiar with electronics and new technologies, prefer to buy online than to go to an actual physical location. Behind them comes Generation X (those who are between 37 and 55) with 56% of them opting for online shopping. Nonetheless, the most surprising number, considering they go between 55 and 75 years old, is 41% of online preference for baby boomers.

Digital platforms have acquired more relevance as time has gone by and they are putting physical stores (and media) at risk. But, E-commerce is not a new competitor, but rather a new channel to create a differential offering for clients.

The surprising thing is that even considering that platforms and transactions are completely digital when it comes to E-Commerce, the human factor is a distinctive presence.

A “humanization of platforms” is a motto where there is a lot of room for improvement. Customer Service should be one of the main aspects through which each business should aim to differentiate themselves.

Personalisation: a strategy becoming a pattern

One practice that’s really taking eCommerce by storm is Personalisation. While technology keeps improving, the use of data analytics, and Big Data, businesses can know exactly what their audience is looking for. They can remind you that you left an abandoned shopping cart, or send you e-mails with their latest discounts and offerings.

It’s more and more clear that e-commerce itself is evolving at breakneck speeds. It has incorporated virtual assistance while buying, reminders, sales practices from other countries, etc. It uses Artificial Intelligence for customer service chats (chat-bots).

eCommerce is clearly a big part of the future as statistics show. 10% of every item bought in Australia is acquired online.

At Viveo, we are tech-partners to many extremely successful eCommerce businesses and businesses that have recognized the importance of offering eCommerce as an additional sales channel.

If you want to open new opportunities contact Viveo now!

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