Come out on top with ShipStation’s e-commerce delivery benchmark report

(Source: ShipStation)

The e-commerce industry is still recovering after a turbulent 2022. With global economic uncertainty still ongoing, this year will be one with its own challenges and opportunities. 

To help prepare you for the year, ShipStation and independent economics consultancy Retail Economics created an extensive new report detailing the state of global online retail, shifting consumer preferences and delivery expectations. You’ll also get insight into consumer spending and economic concerns. 

This free report analyses data and feedback from more than 8000 households and more than 800 online merchants from different backgrounds, global markets, age demographics, and income levels. 

So, what did the report uncover?

The retail forecast is choppy, yet online shopping is likely to rise

A host of countries are heading towards an economic tipping point. Growing inflation, geopolitical tension, and soaring interest rates negatively impact consumer confidence. 

Despite these concerns, consumers have begun adjusting to this new normal. Our report shows that shoppers are more optimistic towards online shopping in countries where concerns about inflation and unemployment are stabilising, such as Australia and the US.

The biggest economic concern in Australia – as with all surveyed countries – is inflation, with 54 per cent of consumers expressing concerns about rising prices. However, optimism is rising. Australia leads the pack alongside the US, with 34 per cent surveyed saying that inflation concerns won’t deter their shopping habits. 

Online shopping trends in 2023

Buyer behaviour in households across most countries is changing. Online shopping isn’t exempt from such change.

Our report reveals and illustrates four personas of shopper behaviour based on how consumers weigh their needs against their finances and the economy. The report then contains mountains of data to run your e-commerce business successfully and ensure smooth delivery.

The four types of consumers identified are:

  • Necessity shoppers: Only purchasing when necessary.
  • Postponers: Purchasing less frequently.
  • Value Hunters: Searching for cheaper alternatives.
  • Carry On Spenders: Purchasing as usual.

Of those that fit into the category of ‘least affluent’, 52 per cent of consumers will only make purchases when necessary, 17 per cent will reduce the number of purchases they make, and 9 per cent will switch to a cheaper brand or retailer. This suggests that most people only spend when it’s a must or are consciously shifting their spending.

The report also reveals that, across non-food sectors, a net proportion of consumers expect to shop online more this year than they did last year.

Data, data, data

This overview is only the surface. Want to know the numbers behind consumers shifting to second-hand products? The sectors experiencing the most cutbacks? What about cost vs convenience? Sustainability’s importance? 

These trends and many others are presented in the report, providing the market data and the insight needed to make shrewd choices, weather the storm and delight your customers. 

Register here to download the full report available next month, for insights into how consumer behaviour and expectations are changing and how to beat the rest in the year ahead.