E-commerce is taking over the world, with traditional commerce businesses making the shift to their digital counterparts in an effort to stay relevant in an increasingly technological society. The opportunities are limitless, with businesses experiencing massive growth in their brands and sales by offering their consumers more satisfaction with an e-commerce platform to shop on.
However, with a higher amount of opportunities comes an increased amount of competition within the industry. It can be difficult to differentiate between e-commerce businesses due to the sheer volume of companies that have bridged the gap between traditional commerce and e-commerce. This article aims to provide business owners with a rundown on the levels of competition in the e-commerce industry and how providing a tracking service for shipping can help your business stand out from the rest.
Competition in the e-commerce industry
Based on Statista’s digital market insights, revenue made in New Zealand’s e-commerce market is estimated to reach a massive US$6.30 billion by the end of 2023, with projected market volume expected to hit US$10.12 billion by 2027. The number of locals who use the e-commerce industry to shop for an item is also set to grow, with a projected 60.5% of constant online shoppers being forecast for 2027, according to the same report.
The International Trade Administration also stated that as of July 2022, most brick-and-mortar stores had adopted an online presence, proving that traditional in-person stores were indeed keeping up with the e-commerce trend within New Zealand.
With the country as a whole moving to e-commerce as a feasible method of making sales, besides optimising the user experience for your e-commerce web pages and allowing various payment methods through various payment gateways, how then would you stand out from the rest of your competition? The answer is simple: install a logistics-based tracking system for your products.
