Emerging eCommerce trends: key insights from our latest Webinar

We empower businesses to achieve remarkable success with innovative financing solutions. In our recent Webinar, we focused on the incredible journey of Love & Pebble, an eCommerce success story that took TikTok by storm. In this blog, we'll delve into key insights and statistics from the Webinar, focusing on how you can ride the wave of eCommerce growth and manage the oncoming eCommerce challenges with the help of revenue-based financing.

Stats at a glance

The eCommerce industry is currently experiencing unprecedented growth and transformation. In the Webinar we highlighted some of the critical statistics facing the industry today.

• Average Revenue Per User (ARPU)  - online consumer goods see an ARPU of approximately $3,000 in the US annually. 
• Social media sales - in 2023, global sales via social media platforms reached $1.298 billion. 
• Mobile commerce - 45% of eCommerce sales are made via mobile devices. 
• Cross-border trade - by 2028, cross-border eCommerce transactions are expected to reach $3.3 trillion. 
• Startup failure rate - alarmingly, 90% of eCommerce startups fail within the first 120 days.

More challenges, more opportunities‍

Ride the wave of new social commerce channels

Simply put - when you’re brand is in more spaces, it’s harder for people to ignore you. Businesses that offer an omnichannel experience have a 287% higher purchase rate than those on a single platform. Omni-channel strategies, incorporating both web and social platforms, are crucial for higher success rates and customer acquisition. 

Manage rapid growth through supply chain efficiency‍

When it comes to inventory management, accuracy is key. Unfortunately, the average accuracy of inventory management in the US stands at only 63% , which leads to stockouts or overstock situations. Implementing advanced technologies and real-time inventory systems can significantly improve this statistic.

Become AI savvy

If you’re not using AI, you’re in danger of being left in the stone age. At present 51% of eCommerce brands are using AI tools to improve customer experiences and streamline operations. With AI still in its early stages, you can only expect this trend expected to grow. To find out what AI tools are best for your business read our blog - The best AI tools for your eCom business.

Lean of Lean eCommerce

35% of retailers say lowering mileage is a main priority for reducing their costs. Essentially - how can businesses make it easier to get their products into their customers' hands, at a cheaper rate. This makes it integral for your businesses to find effective and efficient logistics solutions that take distance, time, and mode of travel into account.‍

Join the sustainability revolution

85% of consumers say they’ve shifted their purchase behavior towards being more sustainable. With that in mind, sustainability is almost becoming its own sector within the eCommerce sphere. By including sustainable practices and products in your operations, you’re speaking the same language as this sector and connecting with a huge section of like-minded consumers. 

The eCommerce landscape is full of opportunities and challenges. By using these stats to make informed decisions and working with partners like us, businesses can navigate this dynamic environment at speed.

All stats are taken from our Webinar - watch the full video HERE.

Ready to explore how revenue-based financing can benefit your eCommerce business? Get in touch with us HERE.

Sources:
WeAreSocial
Statista
JP Morgan Chase
InternetRetailing.net
Mayos
Simon Kucher
CopTIA community
InternetRetailing.net

How can revenue-based finance help your business

Revenue-based financing (RBF) offers a flexible, non-dilutive funding solution that aligns with the revenue fluctuations of eCommerce businesses.

Here’s why RBF can be a game-changer for your business:

• High Approval Rates: RBF is more accessible than traditional bank loans.
• Quick Access to Capital: Funds can be disbursed within as little as 48 hours, providing timely support for growth initiatives.
• Revenue-Linked Repayments: Repayments are tied to revenue, reducing financial strain during slower periods.
• Non-dilutive: Get funding without relinquishing ownership or control of your business, leaving you to only pay what’s owed, based on your revenue.