Ecommerce insights for small and medium sized businesses in 2023
For any small or medium sized business keeping up with the evolving landscape of ecommerce can be a challenge. With over 88% of Kiwi customers now shopping online, it’s no secret that there has been a significant growth in online shopping in recent years, accelerated by COVID-19. In this shifting landscape it’s crucial that Kiwi businesses are agile enough to adapt to changing consumer needs and are open to new ideas. We share the key highlights from a comprehensive report by New Zealand Couriers, Stocka’s sister company and delivery partner. Find out what is important for consumers when purchasing online and where should you invest for the best ROI for your business.
The Growth of Online Trading
New Zealand businesses across all industries have witnessed a surge in parcel volumes during recent years and while many industries are now seeing this demand flatten out, most still anticipate further growth in the future. While the post-pandemic shopping landscape remains somewhat uncertain, one thing is clear: online trading is here to stay. The report reveals that 71% of businesses send more parcels than they used to and 48% are currently investing in improving ecommerce customer experiences.
The Delivery Experience: A Reflection of Retailer Excellence
For online shoppers, the delivery experience is more than just receiving a package — it serves as a tangible representation of the retailer’s commitment to quality and customer care. Customers expect parcels to arrive on time, as expected and undamaged. Merchants also recognise the importance of delivery and want the same things. For small businesses pricing and on time delivery are also crucial. Following on from COVID-19 the rise in contactless deliveries is now leading to issues around security and transparency. Parcels need to be kept safe and Kiwi consumers expect to be kept informed around the status of their delivery.
Embracing Ecommerce Trends
The ecommerce landscape is constantly evolving, and businesses must adapt to changing consumer preferences to stay ahead. The ecommerce report reveals that shoppers are increasingly open to a variety of shopping options, including exploring online marketplaces. Payment options are also changing and ecommerce platforms that make payment seamless and easy will enable a better customer experience at the checkout. Extra costs, unclear pricing and the need for an account are current reasons for cart abandonment. Sustainability is also gaining traction with 72% of consumers wanting to use sustainable packaging.
The shift online has seen many businesses turn to social media to increase awareness of their brand and sell products. This trend also means that it’s becoming increasingly difficult for a brand to stand out from the crowd. With the rise of ecommerce, businesses are also investing in digital advertising to support their online activities — 48% of businesses use social media to acquire new business with businesses reporting the best ROI from Instagram.
It is becoming increasingly important to automate and streamline your order fulfilment process. Doing so keeps customers happy and saves your business time and money. 37% of medium sized businesses report being challenged by a high volume of orders as a result of COVID-19 and 21% of businesses felt the pressure of increased customer expectations. For merchants, reliability remains among the most important factors when choosing a logistics partner. Returns policies matter too with 73% of consumers saying the returns experience impacts the likelihood of buying again.
Start, Grow & Thrive in the Modern Ecommerce World
It’s clear from the report that the demand for reliable logistics and delivery partners has never been greater. By partnering with Stocka, businesses can confidently navigate the ecommerce landscape, leveraging Stocka’s expertise and cutting-edge solutions to streamline operations, optimise customer experiences, and drive sustainable growth. In a world where digital shopping options are becoming the norm, choosing Stocka as your trusted ecommerce 3PL provider ensures that your business remains at the forefront of the evolving ecommerce landscape, enabling you to thrive in the digital age.
Download the Ecommerce Insights: Merchant 2023 Report – It’s free
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