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This week's top 5 e-commerce trends: 15 October 2021

Business · 3 min read

Any Other Business: 15 October 2021

This week’s AOB looks at the latest e-commerce news from around the world including what customers want at checkout, and how Squid Game fans can get their hands on exclusive merchandise thanks to Netflix’s latest e-commerce push.

Shopee eyes up more markets

Shopee1, the leading online shopping platform in Southeast Asia and Taiwan, is preparing to launch in Spain. Last month, the marketplace made its European debut in Poland. Full details of the Spanish rollout are yet to be revealed, but at the beginning of October, Shopee Spain’s Instagram page carried a post saying the Singapore-headquartered company would offer free shipping in the country.

Beyond Europe, Shopee has also been expanding rapidly in South America – with great success. In fact, investment firm Bernstein2 predicts that Brazil could already be the platform’s biggest market (by monthly active users3.)

Despite only launching in 2015, Shopee – which, like Amazon, allows users to buy and sell online – has expanded aggressively, with Tech in Asia calling it one of the “five disruptive e-commerce start-ups we saw in 2015.”4

3D shopping platform prepares for expansion

Augmented reality platform Expivi5, which enables e-commerce companies to show their products to customers in 3D, has just secured further growth capital to help it expand in Europe and the US. The company says its product configurator – which e-commerce sellers can use as a standalone e-commerce platform or as a plugin – increases sales, reduces costs, and improves the customer experience.

Following the recent investment, CEO Babak M. Mirzaie said “the demand for online product presentation and 3D objects for a personalized experience is growing worldwide. This capital injection makes it possible for us to meet that growing demand and to further claim our position as international market leader.”6

Squid Game helps Netflix boost e-commerce revenue

It's the show everyone’s talking about and now fans of Netflix’s Squid Game can get their hands on exclusive merchandise via Walmart.com7. The streaming service has partnered with the US retailer to sell t-shirts themed on the South Korean hit as well as toys from Netflix’s kids show “Cocomelon” and a “Stranger Things” Bluetooth cassette player.

The new product line marks the largest deal Netflix8 has ever made with an online retailer and signifies its desire to generate revenue beyond just its core subscription business. Earlier this year, it launched Netflix.shop to sell limited-edition merchandise based on some of its most popular shows.

In a statement, Netflix’s vice president of consumer products Josh Simon said: “We want to continue to meet fans wherever they are, whether that’s through our biggest online marketplace at Walmart, or the more boutique and curated Netflix.shop.”9

UK’s customers give delivery services the thumbs down

It’s no secret that delivery is highly important to e-commerce customers, yet recent research suggests that retailers are falling short. A survey by Descartes10 found that nearly 87% of UK consumers are not always satisfied with the delivery service they receive from retailers11. The most frequent issues cited are late delivery (23% of respondents), items delivered at a different time than expected (18%), items being left in an unsecure location (18%), and damage to packages (17%).

With the peak shopping season just around the corner, retailers should be liaising with logistics partners now to ensure they can manage the rush and meet customers’ delivery expectations. Check out our exclusive holiday guide for more tips to help you prepare and cash in big this year.

Customers want ease at checkout – or else they’ll leave

Lack of preferred payment methods at checkout is a leading reason online consumers abandon their carts and switch to competitor merchants – that is according to new research by PYMTS.com12.

The company analyzed the checkout capabilities of 510 leading e-commerce businesses and found that the average number of payment methods offered by top-performing merchants at checkout is 7.8, whilst 62% of customers paying by debit or credit card let the merchant store their card information on file for future convenience. Both of these findings set a benchmark for e-commerce businesses wishing to reduce checkout frictions and increase conversions.

Discover more payment tips to ensure your customers have a happy checkout experience with our guide to the new ways to pay.

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1 - Shopee

2 - Bernstein

3 - Tech in Asia, October 2021

4 - Shopee, Wikipedia, accessed October 2021

5 - Expivi

6 - Babak M. Mirzaie quote, Ecommerce News Europe, October 2021

7 - Walmart.com

8 - Netflix

9 - Josh Simon quote, Digital Commerce 360, October 2021

10 - Descartes

11 - Are retailers maximising the Covid-19 bounce?, Descartes, 2021

12a - PYMNTS.com

12b - Removing friction at the checkout, PYMNTS.com, 2021

 

Anna Thompson
Anna Thompson Discover content team

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