State of E-Commerce

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State of E-Commerce Around the World

E-Commerce Industry Trends

Find out more about the latest trends in e-commerce that shaped the state of e-commerce for different countries. The pandemic has transformed the e-commerce and retail industry radically. Retailers around the world were challenged greatly due to the high demand in e-commerce. However, this also opened up an opportunity for digital transformation across markets and industries. Many businesses have become top online retailers after the quick adaptation. The e-commerce growth in the last 2 years is evident and is the premise of the birth of numerous trends such as influencer marketing, social commerce, delivery options expansion, and many more.

Delivery Success Rate

The logistics and supply chain industry faced one of their greatest obstacles as soon as the pandemic broke out. Logistics companies struggled to perform during the last leg of the delivery; greatly affecting their logistics performance. Customers were experiencing delivery delays, especially for international shipments. Lockdown restrictions brought about excellent delivery success rates. Delivery success rate was enhanced greatly, up to 98% in several countries worldwide due to the new work from home regulations Customers were present to receive their packages. With fewer factors to consider while choosing a delivery address, most carriers succeed at the first delivery attempt. This contributes to a satisfactory e-commerce experience for customers and at the same time, reduces the average delivery time for parcels.

Cross-Border E-Commerce

Cross-border e-commerce has been slowly developing throughout the years and the pandemic accelerated the demand for it/. Digital transformation has encouraged consumers to opt for international e-commerce shopping. Retail e-commerce sales now constitutes both domestic and international sales. Cross-border shipment volume took over half of the shipments to the US and Singapore. The potential for cross-border e-commerce to grow is endless and impressive. USA and China, the two biggest economies in the world, are still the most common origin countries of parcels. The majority of international shipments to the USA are originally from Mexico and the EU, while Singaporeans are purchasing goods from their neighboring country, Malaysia

Collection Points

Collection points are essential to the full shopping experience as it offers customers the flexibility and convenience to pick up their orders whenever. To keep up with the increasing demand for more delivery options, retailers had to offer more than one way for customers to receive their orders.