In today’s fast-paced digital world, speed isn’t just a luxury — it’s a necessity. For e-commerce businesses, fast delivery can make or break the customer experience. With rising consumer expectations, companies must ensure their products arrive swiftly, or they risk falling behind competitors who prioritize quick and efficient shipping.
This article outlines proven strategies to help your own organization streamline its deliveries for increased customer satisfaction (and decreased costs). First, it’s important to understand how important speed is to your e-commerce business’s bottom line.
The Shifting Paradigm of Consumer Expectations
Fast delivery has evolved from a convenience to an expectation in today’s e-commerce world. There was a time when a 2-5 day delivery window was considered standard, but those days are long gone. With the rise of competition and instant gratification culture, consumers increasingly demand faster service across the board.
Now, 63% of online customers expect fast delivery at all times, leaving little room for delays. The bar is even higher, with 97% of shoppers viewing same-day shipping as the benchmark for speed and 95% still considering next-day delivery acceptable.
This shift is particularly pronounced among younger consumers.
Shoppers under the age of 25 prioritize same-day shipping as a top purchase driver, which means businesses catering to this demographic must adapt quickly or risk losing out. In fact, companies that offer same-day delivery outperform 85% of their competitors, gaining a significant edge in a highly competitive marketplace.
What was once a luxury has now become the norm. As consumer expectations continue to evolve, businesses must recognize that delivery speed plays a critical role in customer satisfaction and brand loyalty. Meeting these new standards isn’t just a matter of convenience — it’s a key differentiator in the crowded e-commerce landscape.
Strategies to Accelerate e-Commerce Deliveries
To stay competitive, e-commerce businesses need to adopt strategies that streamline their delivery processes. Here are five key methods to boost delivery speed and meet customer expectations.
1. Leveraging Third-Party Fulfillment
Partnering with third-party logistics providers (3PLs) is a powerful way to expedite delivery. By outsourcing fulfillment, businesses can tap into nationwide distribution networks, allowing them to achieve fast, reliable delivery across the country without investing in infrastructure themselves.
2. Enhancing Order Picking Efficiency
Speeding up the picking process is crucial for faster deliveries. Efficient racking systems combined with automated pick systems can significantly reduce order processing time. Implementing sorting conveyors can also help streamline operations, moving products swiftly from the warehouse to shipping.
3. Optimizing Shipping Partnerships
Evaluating various shipping partners for different order types allows businesses to balance speed and cost effectively. Choosing the right carrier for specific weight classes, regions or volumes ensures that customers receive their orders quickly without unnecessary costs.
4. Fine-tuning Inventory Management
Preventing stock-outs is essential to avoid delivery delays. Maintaining optimal inventory levels by closely monitoring stock and forecasting demand ensures that products are always ready to ship, reducing the wait time for customers.
5. Implementing Multi-location Shipping
Relying on a single shipping location limits delivery speed, particularly for businesses serving large geographical areas. Strategically positioning branch warehouses allows companies to fulfill orders from multiple locations, cutting down shipping times and increasing customer satisfaction.
Balancing Speed and Cost in Fast Delivery Services
While fast delivery is critical, businesses must also carefully manage costs. Negotiating better rates with freight carriers can lead to significant savings, while consolidating carriers for volume discounts helps reduce expenses without sacrificing speed. Additionally, optimizing package size and weight is an effective way to lower shipping fees.
Finally, exploring cost-effective packaging alternatives ensures businesses maintain service quality while keeping costs in check.
Conclusion
To meet rising consumer expectations, businesses must prioritize fast, efficient deliveries. Strategies such as leveraging third-party logistics, optimizing inventory management and using multi-location shipping are essential to staying competitive.
Investing in faster delivery systems not only enhances customer satisfaction but also provides a long-term competitive edge. Companies that adapt to these shifting demands will see improved customer loyalty, operational efficiency and a stronger market position over time.
Author bio
Chris Thompson is Senior Marketing Communications Manager for QC Conveyors. He joined the team in 2005 and currently leads marketing efforts for QC Conveyors and FMH Conveyors, working at the intersection of material handling and industrial automation.
Based on data from Market.us, The Global E-Commerce Personalization Software Market is projected to expand significantly, reaching an estimated USD 2,412.3 million by 2033, up from USD 263.2 million in 2023. This growth represents a robust CAGR of 24.8% from 2024 to 2033. In 2023, North America was the leading region in this market, securing over 36% of the market share with revenues amounting to USD 97.7 million. This strong performance underscores the region’s pivotal role in advancing e-commerce personalization technologies.
E-commerce personalization software is designed to tailor online shopping experiences to individual user behaviors, preferences, and purchase histories. It employs data analytics and machine learning algorithms to provide customized product recommendations, dynamic content, and targeted marketing, enhancing user engagement and conversion rates. This technology is crucial for online retailers aiming to deliver relevant and enjoyable shopping experiences, leading to increased customer satisfaction and loyalty.
The e-commerce personalization software market is experiencing robust growth, fueled by increasing demand for personalized online shopping experiences. In 2023, the market’s valuation was substantial, with projections indicating a significant expansion by 2031. The market benefits from advancements in AI and machine learning, which enhance the software’s ability to deliver highly personalized content and recommendations.
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Several factors are propelling the growth of the e-Commerce personalization software market. Firstly, the explosion of online data and advanced analytics enables more precise customer insights. Secondly, the growing emphasis on enhancing customer experience as a differentiator in the crowded e-commerce space encourages businesses to invest in personalization. Additionally, the increasing consumer expectation for personalized shopping experiences across multiple channels is pushing retailers to adopt sophisticated personalization strategies.
The e-commerce personalization software market is ripe with opportunities as it aligns with current retail trends and technological advancements. The surge in omnichannel retailing necessitates personalization solutions that can integrate seamlessly across various consumer touchpoints, from online platforms to physical stores, enhancing the overall customer experience. This integration supports a consistent and personalized customer journey, regardless of the channel.
Emerging markets offer new growth prospects as increasing internet penetration and digital literacy expand the consumer base engaging in online shopping. Furthermore, the continuous advancements in technology, such as the integration of AR and VR with e-commerce platforms, present innovative ways to enrich the personalized shopping experience, thereby driving further adoption of personalization software. These advancements facilitate highly immersive and interactive shopping environments, tailored to individual preferences, setting the stage for the next evolution in e-commerce.
Key takeaways revealed that, In 2023, the Cloud-Based segment led the e-commerce personalization software market, securing over 65% of the market share. This preference highlights the scalability and accessibility cloud solutions offer. Although smaller in comparison, the On-Premise segment maintained its relevance, underscoring the need for localized control and data security among certain businesses.
The Large Enterprises segment dominated the e-commerce personalization software market, accounting for more than 58% of the market share in 2023. This indicates a strong adoption rate among larger organizations that have extensive customer bases to manage. Meanwhile, the Small and Medium Enterprises (SMEs) segment demonstrated significant growth potential, signaling an increasing recognition of personalized marketing’s value across business sizes.
In the industry-specific analysis, the Fashion and Apparel sector led with more than 37% of the market share, marking its prominence within the e-commerce personalization software market. Sectors such as Retail and Electronics also held substantial shares, reflecting their crucial roles in leveraging personalization technologies to enhance customer experiences.
North Americae-Commerce Personalization Software Market Size
In 2023, North America held a dominant market position in the E-Commerce Personalization Software Market, capturing more than a 36% share with revenues amounting to USD 97.7 million. This leadership can be attributed to several key factors. First, the region has a highly developed digital infrastructure, facilitating widespread adoption of e-commerce solutions across retail sectors. Additionally, North American consumers show a strong preference for personalized shopping experiences, driving e-commerce platforms to invest heavily in personalization technologies to boost customer satisfaction and retention.
Furthermore, the presence of major market players in the U.S. and Canada, who continuously innovate and push the boundaries of personalized shopping through AI and machine learning technologies, significantly contributes to the market’s growth.
Read also – AI In Ecommerce Market size is expected to be worth around USD 50.98 Billion by 2033.
Emerging Trends
AI-Driven Hyper-Personalization: E-commerce is increasingly harnessing AI to offer hyper-personalized shopping experiences. This trend sees AI analyzing vast amounts of data to tailor product recommendations and promotions specifically to individual user behaviors and preferences.
Privacy-First Personalization: With growing concerns over data privacy, e-commerce platforms are shifting towards using first-party data to customize user experiences without compromising privacy. This approach builds trust and meets the stricter data protection regulations expected to shape future marketing practices.
Dynamic Content: Content that adapts in real-time to user interactions on e-commerce platforms is becoming crucial. This includes personalizing emails and web pages based on user behaviors, such as past purchases or browsing history, to enhance engagement and conversion rates.
Omnichannel Personalization: Offering a seamless personalized experience across all channels, including mobile, web, and in-store, is key. This strategy ensures that customers receive a consistent level of service and personalization, regardless of how or where they interact with the brand.
Anonymous Visitor Personalization: Tailoring experiences for users who do not log in or provide contact information is gaining traction. By analyzing browsing behaviors, e-commerce sites can offer personalized content and product recommendations to anonymous visitors, which can help convert them into registered users and customers.
Top Use Cases
Product Recommendations: Utilizing AI to analyze customer data and provide personalized product suggestions that cater to individual tastes and shopping habits is becoming a standard practice for boosting e-commerce sales and customer satisfaction.
Predictive Analytics: This technology forecasts customer behaviors and preferences, allowing e-commerce businesses to anticipate needs and effectively target marketing efforts. It helps in optimizing inventory and improving the timing of promotions.
Personalized Email Campaigns: By segmenting email lists based on user data like past purchases and site interactions, businesses can deliver highly relevant emails to customers. This strategy increases engagement and drives sales through targeted offers and content.
Chatbot Interactions: Advanced AI chatbots can interact with customers in a more personalized way, providing support and product recommendations based on the context of previous interactions and known customer preferences.
Dynamic Pricing: AI algorithms enable dynamic pricing strategies where prices are adjusted in real-time based on customer behavior, market demand, and competitor pricing. This approach helps maximize profit margins while remaining competitive in the market.
Major Challenges
Adaptation Costs: Implementing AI-driven personalization solutions often requires significant investment in both technology and training. Customizing solutions to fit specific needs or integrating these tools into existing systems can escalate costs.
Technological Pace: The rapid pace of technological advancement in e-commerce personalization software necessitates continuous updates and learning, placing a strain on resources as companies strive to keep up.
Algorithmic Bias: Relying on algorithms for personalization can lead to biases, potentially unfairly targeting or overlooking certain customer groups, which could damage brand reputation and customer trust.
Economic Fluctuations: Volatility in market conditions and consumer spending can affect the effectiveness of personalization strategies, requiring businesses to remain flexible and responsive to changes.
Privacy Concerns: With growing customer awareness about data privacy, companies need to find a balance between personalization and privacy, ensuring they comply with legal regulations while still providing tailored customer experiences.
Attractive Opportunities
AI-driven Personalization: Advanced AI algorithms offer the potential to revolutionize e-commerce by enabling hyper-personalization, which enhances the accuracy of product recommendations and customer interactions.
Enhanced ROI: AI capabilities in personalization software can significantly shorten the time to realize return on investment, making these technologies highly cost-effective over time.
Omnichannel Experience: There’s a growing trend towards creating seamless customer experiences across all platforms, from web to mobile to physical stores, which can increase customer satisfaction and loyalty.
Growing Data Utilization: The ability to collect and leverage zero-party data provided directly by consumers can enable more accurate and effective personalization, fostering a more direct relationship between brands and their customers.
Increasing Consumer Expectations: As online shopping becomes more prevalent across all age groups, personalized experiences are becoming a baseline expectation, providing a ripe environment for businesses that can effectively cater to diverse consumer needs.
In conclusion, the e-commerce personalization software market is dynamically expanding, fueled by the convergence of technological innovation and rising consumer expectations for tailored shopping experiences. As businesses continue to recognize the substantial impact of personalized engagements on customer satisfaction and sales, investment in these technologies is surging.
The future of e-commerce lies in leveraging AI and real-time analytics to create deeply individualized customer interactions across all digital platforms. This not only promises significant growth opportunities for providers of e-commerce personalization solutions but also offers a competitive edge to retailers ready to innovate and adapt in an increasingly digital marketplace.
Last-mile logistics specialist Stuart has announced a new partnership with global tech company Square, designed to streamline delivery and operations for restaurants, retail, and beauty businesses. By integrating Stuart’s last-mile delivery platform with Square’s point of sale (POS) system, businesses can enhance efficiency and unlock new revenue streams.
Square’s platform is customizable, allowing businesses to adapt to various customer preferences for ordering, payment, and delivery. The system helps manage cash flow, team members, deliveries, and customer data, providing an optimized e-commerce experience for both businesses and consumers.
The partnership with Stuart enables merchants using Square Online to automatically connect with a network of local independent couriers. This integration enhances digital ordering and delivery, fostering direct customer relationships and boosting brand loyalty.
“With the rapid pace of e-commerce and increasing competition, it’s vital for businesses to strengthen customer connections and streamline operations,” said Cornelia Raportaru, CEO of Stuart. “By partnering with Square, we’re excited to empower even more businesses with a fully integrated system that simplifies delivery and operations.”
Samina Hussain-Letch, Executive Director of Square UK, echoed this sentiment: “This partnership provides businesses with an easy solution for automating in-house deliveries, giving them more time to focus on productivity and growth, which ultimately allows them to deliver a better customer experience.”
FedEx has embarked on a daunting $1.5 billion company-wide reorganization. Announced last year, the Tennessee-based transportation and logistics giant combined its Express and Ground delivery units into one business model. The move rattled insiders, as the separate operating structure had long been upheld as founder Fred Smith’s legacy. Yet, market forces suggest a change is needed.
As e-commerce grows, companies like FedEx are adapting to new, non-business-to-business business models. The merging of Ground and Express now more closely resembles the structure of FedEx’s chief rival, United Parcel Service Inc. A key difference between the two, however, is UPS has a unionized workforce while FedEx relies on contractors to execute ground deliveries.
New members to the FedEx board nudged the reorganization, but technology and productivity challenges have muddied the efforts. Ground and Express had operated as single units for decades. It was common in some neighborhoods to see a Ground and an Express truck delivering packages to the same house within short periods of each other. Ground generated five times as much operating profit last year as Express, occupying contractors to deliver along local routes. Express used jets, trucks, and full-time employees to deliver its parcels.
The reorganization has resulted in job cuts, parked planes, and cumbersome parcel pickup and dispatch snafus. FedEx warns that “OpCo pride,” otherwise known as operating company pride, has, in some instances, impeded progress. In a company as large as FedEx, people become accustomed to doing things the way they’ve always been done, and a shift this big is an uncomfortable push to something unknown. Changes in how the two entities work are first being implemented in smaller distribution centers such as Starkville, Mississippi, and Bozeman, Montana, and will later be rolled out to larger hubs.
Ground contractors are taking over the Express volume in nearly every state except Alaska and Hawaii. To date, the company has reduced its headcount by roughly 22,000, retired 32 jets, and closed more than a dozen buildings. CEO Raj Subramaniam is convinced that the growth of e-commerce will result in more trucks and less need for surplus equipment and facilities.
Thankfully for FedEx, the restructuring has not disrupted the customer experience. Express parcels have registered on-time delivery performance rates of 94.5% to 98.2% since mid-2022. The most significant change from a personnel perspective is the Ground contractors, many of whom hire drivers and operate trucks in certain areas. These are approximately 6,000 people using very different scanners and route-planning tools than FedEx employees. Technological modifications are still required, but change isn’t easy.
Flexible packaging stands out as a rapidly growing sector within the global packaging industry, offering numerous benefits for e-commerce retailers. Its advantages include affordability, effectiveness, and lightweight properties, which are essential for efficient shipping. Additionally, flexible packaging requires less energy during production and transportation, reduces product waste, lowers greenhouse gas emissions, and occupies less landfill space, making it an eco-friendly choice.
Flexible packaging’s ability to use resources efficiently makes it a sustainable option for the e-commerce sector. Its reduced energy consumption and minimal waste production contribute significantly to lowering environmental impact. These characteristics align with the growing consumer demand for sustainable packaging solutions, driving the market’s anticipated growth during the forecast period.
Consumer Demand and Sustainability
As consumers become more environmentally conscious, their preference for sustainable packaging solutions is influencing market trends. The packaging industry is responding with innovations designed to guarantee product safety, hygiene, and integrity. These innovations are expected to contribute significantly to market growth in the coming years.
Drivers and Growth Factors
Several factors are propelling the growth of the global e-commerce flexible packaging market. Key among them is the rise of e-commerce platforms, coupled with consumer demand for convenient and lightweight packaging. Additionally, there is increasing awareness of sustainability among consumers, which is further boosting market growth. Major market players are investing heavily in eco-friendly packaging methods to ensure sustainable use of plastics.
The global e-commerce flexible packaging market is on an impressive growth trajectory. With an estimated market size of USD 72.45 billion by 2033, up from USD 32.51 billion in 2023, the market is set to expand at a compound annual growth rate (CAGR) of 8.50% from 2024 to 2033. Flexible packaging, characterized by its adaptability, efficiency, and sustainability, is rapidly becoming the preferred solution for e-commerce applications.
Investment in Eco-Friendly Solutions
Key market players are focusing on developing sustainable packaging materials. These investments not only address environmental concerns but also enhance the overall appeal of flexible packaging in the e-commerce sector. The global packaging market size is projected to grow at a 3.16% CAGR between 2023 and 2032, reflecting the increasing importance of sustainable packaging solutions.
Consumer Convenience and E-Commerce Platforms
In today’s fast-paced world, consumers place significant importance on convenience. The ideal e-commerce platform should enable customers to find and obtain the items they need quickly and easily. Features like curbside delivery, home delivery, and click-and-collect options are increasingly popular, as they help customers save time.
Smartphone Usage and E-Commerce
The rise of smartphone usage is opening new channels for marketers to connect with customers. Mobile devices are expected to account for over 50% of e-commerce purchases in the future. This shift highlights the importance of mobile-friendly packaging solutions and marketing strategies.
Social Media and E-Commerce Integration
Social media has emerged as a crucial platform where customers can interact with brands and discover new products. Innovations like voice commands allow consumers to place orders, track purchases, and even automate orders from e-commerce sites using smart devices and apps. This integration of social media and e-commerce is driving significant changes in consumer behavior and packaging needs.
Personalization in E-Commerce
Personalization is one of the biggest trends in e-commerce today. Consumers are willing to spend more when they have a tailored shopping experience. Online retailers can offer customized product recommendations and exclusive deals based on a customer’s browsing history, past purchases, social media activity, personal information, and preferences. This trend is pushing the demand for flexible packaging solutions that can accommodate personalized products.
Asia-Pacific Dominance
In 2023, the Asia-Pacific region held the largest market share of 39.75%. This dominance is attributed to economic development, rapid urbanization, increasing internet penetration, and a thriving e-commerce sector in the region. The growth of flexible packaging in Asia-Pacific is driven by these factors, making it a critical region for market expansion.
North America Growth Prospects
The North America region is expected to grow at a CAGR of 7.95% during the forecast period. This growth is driven by the presence of major key players, high consumer demand for convenience, and stringent sustainability regulations. North America’s focus on sustainable packaging solutions is expected to contribute significantly to the market’s overall growth.
Meet The Five New Leaders Revolutionizing the E-commerce Industry
Years ago, consumers only knew a few powerful entrepreneurs and business owners in the e-commerce industry. But things have changed in the past decades and will continue to progress in the coming years as many companies have entered the industry.
When we want to learn about the man behind a company’s triumph, we check the company website or LinkedIn as the profile link will be from the biography. We read their achievements, hoping to learn something from their career advancements.
Starting a company where there are already a lot of dominators can be somewhat intimidating. But these five fearless individuals have successfully helped their companies be e-commerce leaders.
Josh Silverman
CEO, Etsy
Josh Silverman >>
Guiding vision:“When you’re looking for socks or batteries or all the commodities needed in daily life, there are plenty of places that can ship them to you quickly. But there are many times in your life you want something to be special— something representing your personal sense of style or taste—for you or as a gift for a friend or relative. It’s those moments where I want people to think ‘There’s no place like Etsy.’”
Josh Silverman is the current CEO of Etsy, an American e-commerce company that focuses on handmade or vintage items.
Etsy was founded in 2005. It was a small company started by Robert Kalin, Chris Maguire, and Haim Schoppik, with Jared Tarbell joining later. Maria Thomas came aboard as chief operating officer in 2008, later became the CEO and then left the company in December 2009. With the company becoming bigger, Kalin resumed his role as CEO through July 2011, when he was fired and Chad Dickerson, the chief technology officer since 2008, was named CEO.
Before Josh Silverman came to Etsy, he had a long and fruitful career. He worked at ADAC Laboratories until resigning in1998. He worked at another establishment, which became Elite. In 2006, he became the CEO of a company owned by eBay. In 2008, he also became the CEO of Skype.
Silverman joined Etsy’s board in 2016. After poor first quarter results, Dickerson, who had been the longest serving Etsy CEO, was forced out. Silverman was appointed as the new chief executive officer in May 2017.
The company had some drawbacks before Silverman became the CEO. Despite the pressure, Silverman didn’t let the company down as it continued to rise.
They acquired Reverb, a music-based marketplace, in 2019.
After that, in 2020, they expanded their clothing line by offering masks to protect against COVID-19. Their share in about 24 million masks was around 11% of gross merchandise sales in the third quarter. During the initial stage of the COVID-19 surge, the company’s profit quadrupled.
And in 2019, they released a statement that they had agreed to acquire Depop, a shopping app.
This proves that Silverman continues to make the company bigger and better, making Etsy one of the most successful e-commerce companies.
Neha Singh
Founder and CEO, Obsess
Neha Singh >>
Guiding vision: “What we do is essentially experiential e-commerce, translating how retailers have gone from being purely transactional to experience based. We aim to take this a step further and create seamless omnichannel strategies that allow products to be part of any scenario. We make virtual stores for brands that are visual, immersive, interactive and discovery driven.”
Obsess was founded in July 2016 in New York. Despite being one of the youngest e-commerce companies, it has proven its dominance in the market in a short amount of time, thanks to the brilliance of its founder and CEO, Neha Singh.
Singh previously worked as a software development intern at Informatica, located in San Francisco, for three months. She moved to a different company and became an investment banking tech intern for Goldman Sachs in New York for three months.
She applied what she learned when she joined Google as a senior software engineer in 2005 and worked there for more than four years.
She started her career in the e-commerce industry when she joined AHAlife as a VP of Product & Engineering. She worked with the founders to create strategies that would increase the company’s business drive.
Vogue was the last company she joined before launching her own. She worked as the head of products for more than three years. She oversaw creating strategies to improve Vogue’s digital platform.
With her tremendous experience in the tech and e-commerce industries, she was able to change how we think about shopping. The company has worked with various brands, including luxury ones.
Their goal is to make the shopping experience of consumers more comfortable. They don’t need to go to the physical store to try the item. Thanks to augmented reality, you will see yourself wearing it on the screen. The shop also offers cosmetics from different brands.
Obsess has been doing it for years and will indeed dominate the market when it comes to adapting the metaverse.
Tarik Faouzi
Senior Vice President of CloudBlue Ingram Micro
Tarik Faouzi >>
Guiding vision: “As digital marketplaces rapidly become the route to market for ISVs [Independent Software Vendors], it’s vital for them to leverage tools that remove barriers to entry by accelerating and streamlining marketplace onboarding, maximizing their ability to get solutions in front of a growing, global audience.”
Tarik Faouzi, who has more than two decades of experience in the IT industry, came to Ingram Micro from Tech Data. He is senior vice president of CloudBlue, which like Ingram Micro is headquartered in Irvine, California.
Faouzi is at the forefront of bringing cloud innovations to the industry. CloudBlue, a marketplace platform for everything-as-a-service solutions, accelerates e-commerce through hyper-efficiency, stability and simplicity.
CloudBlue has worked with various leading companies in the tech and e-commerce industries, such as Dell, Google, and T-Mobile.
When Faouzi rose to vice president, he was put in charge of the product roadmap of Cloud Marketplace-related products, making him one of the key people to Ingram Micro’s strategy and customer success.
Ashish Hemrajani
Founder and CEO, BookMyShow
Ashish Hemrajani >>
Guiding vision: “I have nothing against unicorns, it is a great validation to be valued at billion dollars plus. My only concern is that it should not be the only purpose. The purpose of business is to draw from society, create value and be valuable back to society.”
E-commerce isn’t just about fashion and tech. BookMyShow has opened the digital world for performances and concerts. Bookmyshow.com is the No. 1 online ticket booking source for any events in India.
You might not guess that given the company’s humble beginnings. Ashish Hemrajani started his career at J. Walter Thompson Co. as an account and client manager. After going on a vacation with his friends to Africa, he became motivated to start his own business.
He founded the entertainment and recreational services company Bigtree Entertainment in 1999 with Parikshit Dar and Rajesh Balpande. With Hemrajani seeing the need for an online ticketing platform in India, BookMyShow in February 2007 was spun out of Bigtree Entertainment, which now serves as the holding company for its ticketing, information, and analysis subsidiaries.
It was a bumpy ride getting to that point— Bookmyshow.com didn’t have much of an online presence at the start, but excellent management skills helped snare nearly $320,000 (USD) from the company’s first major investor, J.P Morgan.
Hemrajani was patient and waited for the market to catch up. His efforts never went in vain as the company became more popular with many people. Thanks to his excellent leadership, he won the prestigious Executive of the Year 2018 honor at The Ticketing Business Awards held at Emirates Old Trafford, Manchester, England.
He has said in recent interviews that the global pandemic caused BookMyShow to bottom out, as there were no shows or live performances to ticket, but the company bounced back as things opened back up. Bookmyshow.com has now expanded to other countries.
Aside from concerts, the company also caters to sporting events. And people don’t need to pay cash anymore. They can easily buy their tickets through the website or mobile app with debit or credit cards as well as digital banking services such as PayPal.
Harley Finkelstein
President, Shopify
Harley Finkelstein >>
Guiding vision:“Entrepreneurship now is so much more accessible than it’s ever been. And technology is a massive catalyst for that. The internet is this new incredible city, in my mind, that is brand new, and it means that we’re all closer and we connect with more like-minded people and it’s so dynamic. So those examples of starting a brick-and-mortar store versus starting a digital store and being able to get information and pivot and adapt—it’s just the risk tolerance required is very different, which means that there’s no better time, maybe in the history of the planet, to be an entrepreneur than right now.”
Ottawa, Canada’s Tobias Lütke, Daniel Weinand and Scott Lake opened the online snowboard shop Snowdevil in 2004. However, they became dissatisfied by the results and concentrated instead on the e-commerce platform they built and launched in June 2006: Shopify.
Lütke, who may very well be the only fortysomething billionaire on the planet nicknamed “Tobi,” is now the multinational e-commerce company’s CEO.
After finishing his studies at the University of Ottawa, Harley Finkelstein worked for a year at a Toronto law film. In 2009, he met Lütke, and the pair started discussing career opportunities at Shopify. Finkelstein became chief platform officer.
In December 2014, he was appointed a member of the board of C100, a support organization for Canada’s technology community that builds a bridge between the tech industry there and Silicon Valley.
Two years later, Finkelstein became Shopify’s chief operations officer, and a year after that he joined the board of CBC, Canada’s public broadcasting company. He rose to president of Shopify in September 2020, and the 38-year-old also serves as company spokesman.
E-commerce is here to stay. It will indeed become a larger industry in the future as we progress. People want to experience convenience through innovations. And that phenomenon is baked into these companies.
Some, if not all, of the e-commerce leaders we featured sustained hardships throughout their careers, but one thing is for sure: They never gave up pursuing their goals. And they were dedicated to ensuring their respective company’s success.
They deserve to be named e-commerce’s new leaders who will inspire the next generation of entrepreneurs, businessmen and employees.
Written by Owen Carter, Senior Account Manager at Plat.com
Amazon has evolved over the decades. Once, it was simply an algorithm-using online book store. Now, it is a global omni-commerce juggernaut. Such success can be attributed to several factors. However, it is the seamless and interwoven functions of those factors that allow Amazon to excel as a global retailer. More specifically, it is in Amazon’s warehouses that those factors come together.
Amazon has warehouse locations in all but five states, and those warehouses are full of data-driven AI, robotics, and advanced software. These warehouses are the core of the business in many ways, but they also showcase the steps that many retailers can utilize to take advantage of the same resources. From a tiny drop-shipper to a successful chain of e-commerce stores, Amazon is a prime source of firsthand, global retail lessons.
Follow the Leader
For any e-commerce retailer, Amazon represents a prime resource of information. The retail giant has thrived on its adoption of data science and an agile business model. In a world of uncertainty, Amazon has secured its position as a top retailer. Still, what exactly did it do to achieve this?
In short:
Amazon capitalized on customer shopping habits and data to create to-the-second pricing and inventory updating.
Amazon offers two and one-day shipping that is rarely late.
Amazon integrates with suppliers, manufacturers, and other retailers to expand its offerings and connect entire supply chains.
E-commerce retailers of any size can benefit from these same strategies. Understanding customers is a crucial goal of any retailer, and the ability to track their shopping habits allows that retailer to target goods and services across its pool of patrons.
Amazon’s vast warehouse network is another critical aspect of its success. Few retailers can hope to come close to such a massive system of over 300 million square feet of warehouse space. However, any retailer can use similar warehousing tactics in their current inventory configuration.
Real-time item tracking and strategic warehouse locations aren’t just tactics for the megacorps. Small satellite warehouse locations can cut down shipping times. And item tracking creates an extra level of customer involvement and satisfaction.
As well, retailers can look at Amazon’s spending to understand the weight that Amazon places on its functions. In 2020, Amazon spent almost $40 billion moreon shipping costs than the previous year. It spends over $76 billion a year on shipping costs, such as item sorting and transportation.
The lesson here is that any e-commerce retailer that isn’t focusing on shipping fulfillment is potentially losing out on profits.
Fulfill Shipping Promises
Amazon’s status as a retail juggernaut is bolstered by its shipping policies. It was one of the first major retailers to offer two-day shipping. Since then, it has rolled out next-day shipping.
Recently, Amazon revealed a new warehouse strategy: suburban areas. Thousands of warehouses are planned in neighborhoods across the country. This will ensure the fastest shipping speeds for its customers, while preventing unforeseen obstacles from interfering with the shipping process.
However, customers don’t always need or want next-day shipping, especially if it comes with a higher fee. Having shipping choices like Amazon allows various decisions for the customer. No matter the size of the business, multiple shipping options place the shipping choices within the hands of the customer. For many, this is more desirable than speedy delivery.
Of course, shipping fulfillment is one of the most important aspects of any e-commerce retailer, and customer choice in this area is essential. If customers don’t receive their goods on time, though, their choices mean nothing. Eventually, customers will find other retailers who provide stable shipping choices.
Embrace Fully Integrated Virtual Supply Chains
These days, customers look for omnichannel experiences. Ordinary shopping trips now incorporate seamless transitions from mobile browsing to e-commerce shopping. BOPIS (buy online, pick-up in store) systems further integrate traditional and e-commerce options.
Still, an issue at one location of a supply chain can have a staggering impact throughout the entire length of the chain. From component shortages to labor strikes, plenty of factors can interfere with your business.
Amazon has tackled such issues through extensive supply chain management. Amazon can create real-time, virtual representations of entire supply chains. In other words, every resource can be tracked and visualized.
If that seems a bit beyond the normal scope, consider the following:
Item tracking allows a business and customers real-time location updates.
Real-time inventory and supply tracking can reduce needed on-hand inventory.
Machine learning can scour a business’ data to increase productivity, streamline bulky processes, and ultimately enhance the customer experience.
Smaller e-commerce brands can use similar programs and applications even without advanced AI and legions of computer geniuses. Virtual supply chain management delivers the data needed to anticipate and prepare.
Final Thoughts
It’s understood that few can ever hope to top Amazon, but the retail giant remains a key source of information for the rest of the retail world. Amazon and its warehouse network create a framework to measure a retailer.
Customers of the day want easy shopping options from anywhere and controllable shipping choices. Amazon has achieved these goals through its advanced warehouses and keen insight into every facet of the retail industry.
Warehouses in every state aren’t realistic for every retailer. However, Amazon’s ongoing construction of warehouses highlights some important factors—specifically, shipping stability and customer experience. Without marked improvement of those factors, retailers have a limited future in the world of tomorrow.
Transport Intelligence’s (Ti) latest report, Global e-commerce logistics 2022, shows that rapid growth in the market continues with growth of 19.9% in 2021, though growth has slowed from 2020’s Covid-19 induced peak.
The global e-commerce logistics market grew by 19.9% in to reach a value €441.47bn in 2021.
Global e-commerce logistics market to grow at a CAGR of 11.8% from 2021-2026
Cross-border e-commerce market forecasted to grow at a CAGR of 10.65% to 2026
Global e-fulfilment market made up 46.8% of the total for e-commerce logistics, with last mile making up the remaining 53.2% in 2021
E-fulfilment service providers have broadened their service offerings to capture more of the e-commerce value chain
Ti’s latest data shows that, regionally, in 2021 Asia Pacific is still the biggest e-commerce logistics market, followed by North America and Europe. However, in 2026, Ti forecasts that North America will be the biggest e-commerce logistics market, with the US, Canada and Mexico all experiencing nominal 2021-26 CAGR above the global average.
There are expectations that the Asia Pacific’s market growth will be affected by both the Chinese and the South Korean market’s 2021-26 CAGR slowing down below not only the global average but the regional average of 7.1% too. Their percentage of online retail sales as a percentage of total sales, at 28.0% and 24.5% respectively, are testimony of mature markets. In addition, the parcel pricing war we’ve seen in China has hampered overall growth. However, the two countries will remain amongst the biggest e-commerce logistics markets globally on the back of a high number of e-shoppers.
A similar situation is likely to happen with the UK’s e-commerce market, with online sales as a percentage of total retail sales standing at 26.6% as of December 2021 as reported by the UK Office of National Statistics. The UK’s e-commerce logistics market is also expected to be affected by Brexit too over the next five years, but it will maintain its place as the third e-commerce logistics market globally after the United States and China.
Ti’s new research also shows for the first time the growth of the developing cross-border e-commerce logistics market, which is forecast to grow at a CAGR of 10.65% from 2021-2026. This growth is expected to continue as consumers seek luxury goods that may not be available within their own countries. However headwinds remain, particularly in terms of compliance with tax and customs regimes surrounding cross-border movements.
The new report also highlights how the e-commerce logistics market is broken down between e-fulfilment and last mile delivery services. In 2021 the global e-fulfilment market was valued at €235.42bn and represented a total of 46.8% of the market. Whereas the larger last mile market had a total value of €253.10bn and constituted the other 53.2% of the market.
Ti’s latest report also drills down further in to the e-fulfilment market, highlighting the structural changes which have taken hold since the beginning of the pandemic. Showing how fulfilment service providers from LSPs to software providers have broadened their service offering to capture more of the e-commerce value chain.
Ti’s Head of Commercial Development, Michael Clover, said: “In 2021 e-commerce has been one of the key growth sectors for logistics and we’ve seen some spectacular revenue growth from individual service providers. Overall growth has slowed since 2020, with growth levelling off as the extraordinary conditions for e-commerce growth brought about by the pandemic unwind, but growth is still above pre-pandemic levels. The forecast out to 2026 portrays a maturing market where online retail penetration levels are sustained in the most mature markets between 25-30% and other markets move up to this level.”
Trucking professionals are indispensable global workforce members. Goods wouldn’t reach their destinations without them, leaving consumers everywhere seeing nothing but empty shelves at their favorite stores.
However, sometimes, these hard-working people who spend much of their time on the road can forget how much they’re needed and appreciated. That reality opens an excellent opportunity for their employers to make care packages for their team members. Here are some great gifts to consider for anyone in the trucking industry.
Seat Cushions
Being a professional truck driver means spending a lot of time seated. More specifically, federal trucking limits in the United States stipulate that a person can drive for a maximum of 14 consecutive hours before going into a mandated 10-hour off-duty period.
Being in the same position for so many hours at a time can cause a person to develop pressure points. However, specialized seat cushions can help drivers stay comfortable while they’re behind the wheel. Some seat cushions for truckers provide extra lumbar support. That makes them ideal for people who already deal with back discomfort or want to avoid developing it as a consequence of the job. However, others don’t have built-in backrests.
Many options also exist concerning what provides the necessary support to the user. Some are inflatable, but there are also memory foam and gel-filled possibilities. Choosing the outer material for the cushion is also important. Buyers should keep comfort and user-friendliness in mind by considering things like whether the fabric is extra soft, has moisture-wicking capabilities or a washable cover.
Anti-Sleep Alert Products
Even drivers who do everything they can to stay well-rested will inevitably have some instances where they start to feel sleepy. Unfortunately, if a person experiencing that doesn’t act in time, the sleepiness could result in disastrous consequences.
Data from the U.S.National Highway Traffic Safety Administration indicated there were 697 fatalities caused by crashes associated with drowsy driving in 2019. Avoiding such accidents starts with encouraging drivers to take rest breaks when they start to feel tired. However, people don’t always know how tired they are until they begin nodding off.
That’s why people should consider adding an anti-sleep alarm to a care package for trucking team members. These small and lightweight accessories attach to various parts of the body, including the hands, behind the ear and the neck. They detect signs that people are getting tired, then emit audible warnings.
After hearing them, drivers would realize it’s time to pull over and take steps that’ll help them become more alert. However, feeling permitted to stop when necessary has a lot to do with the company culture. If a driver feels they will receive negative repercussions for resting when they truly need a break, some may try to push themselves too far.
Branded Coffee Mugs
When truck drivers need perking up during a long shift, coffee is usually one of the most accessible ways to get it. That’s why a coffee mug is a thoughtful item for a trucking care package. Statistics show that 62% of adults in the United States drink coffee daily.
However, the people giving these products to team members should go beyond picking a standard type sold in many online and physical stores. It’s ideal if the mug’s design features the employer’s name, logo, contact details and other specifics. Having an accessory like that helps a person take pride in where they work while appreciating the practicality of the present.
A branded coffee mug could also be an excellent recruitment tool. Truck drivers typically make from $50,000-$100,000 annually depending on experience and the nature of their duties. Those that your team member encounters at truck stops, hotels or otherwise along a route may be interested in working for a new company for various reasons.
A branded coffee mug is a smart way to promote a trucking company to others. It could all happen naturally while the recipient drinks their cup of joe while on a break. It’s also a good gift for people who aren’t coffee drinkers. After all, a person could use it for tea or even water. Staying hydrated is an essential part of remaining healthy while on the road.
Organizational Gifts
A truck is the driver’s home while they’re on the road. A clean desk can help office workers stay productive, and the same is true for a person who spends their time behind the wheel for work. Many professional truckers get creative with their methods. For example, Velcro strips are handy for attaching hard products, like boxes, to flat surfaces. However, there are also plenty of purposeful gifts that can help a trucker achieve an organizational level that helps them feel more comfortable and less stressed.
Many of them help people make the most of available space, such as by featuring designs that let storage containers hang over the back of a seat. A hanging toiletry bag is also a useful gift to include in a trucking care package, especially since so many professionals spend days on the road at a time. People choosing these gifts should also think about whether the budget might allow for getting an organizer monogrammed or adding another type of personalization.
It’s not always easy to know which challenges people encounter most while trying to get their trucks organized. Similarly, it may not be feasible to buy different products for each care package recipient depending on their needs. An alternative is to take a survey and find out what kinds of products would help recipients best stay organized. Then, purchase the items of most benefit to the largest number of truckers at the company.
12-Volt Coolers
Trying to have fast-food for every meal as a trucker likely isn’t sustainable from a financial point of view, and it’s not an ideal option for long-term health. That’s why many truckers prepare meals before going out on the road. After that, they need somewhere to keep them until it’s time to eat.
That’s why a 12-volt cooler is another fantastic addition to a care package for trucking professionals. Then, people can keep food cold without ice by plugging these gadgets into the truck’s cigarette lighter.
Some coolers even have settings that allow people to keep food hot, too. Others have extra-long cords that give people more flexibility in where they place the cooler inside the truck.
As people browse for coolers to give truckers, they’ll get the best results by trying to envision themselves in the position of the recipients. Some of the administrative members at a trucking company may never spend the hours driving per day that the professional drivers do. However, imagining the features or design choices that users would find most valuable will increase the chances that recipients genuinely love their coolers and use them during all their trips.
Delight Trucking Professionals With These Ideas
The suggestions here will get people off to a good start as they shop for items to put into a trucking employee care package. When these professionals get reminders of how they’re valued members of the workforce, they’re more likely to have higher morale, which could cause associated benefits, such as better productivity and safer driving.
But is the rush to buy online just a temporary side effect of the pandemic? UBS financial services firm predicts that this “subscription economy” will grow to $1.5 trillion by 2025, more than doubling its current $650 billion estimate.
To capitalize on and sustain this growth trend, many ecommerce businesses are adding subscriptions to their offerings. To be successful though, they need to keep several factors in mind.
Issues to Consider
There are many issues to consider when developing a subscription model. For example:
-Acquisition: How do you convince customers to sign up for an ongoing subscription?
-CX: How do you build a delightful end-to-end customer experience that retains customers?
-Payment Options: How do you decide on the best payment gateways?
-Growth: How will you expand into new markets and geographies?
-Pricing: How do you optimize your subscription pricing and packaging?
-Inventory: How will you deal with demand volatility and ensure sufficient supply?
-Compliance: How do you ensure inter-state and international sales are tax compliant?
Three Ways Subscriptions Can Future-Proof Your Business
Despite these questions, building a successful subscription ecommerce business is worth the effort. Continued growth in this area is on the horizon —in part because subscriptions provide merchants more ways to diversify revenue, enhance customer relationships, and extend customer lifetime value (LTV).
There are three primary reasons why subscriptions should be part of your consumer offering, and why you should consider them as a way to future-proof your business.
1. Manage Volatile Supply and Demand
Ecommerce businesses need to be able to estimate consumer demand and respond to ups and downs. Demand forecasting and readiness will continue to be crucial in the foreseeable future.
Subscriptions can add a level of predictability. For replenishable goods that consumers buy repeatedly, Amazon incorporates subscriptions into its ecommerce offerings with the ‘Subscribe and Save’ option. In addition to infusing its businesses with a steady stream of recurring revenue, this model also helps them predict future demand.
2. Quickly Test and Optimize
As the old saying goes, practice makes perfect. And as the new saying goes: you can always improve on perfection. To continually thrive in the face of dynamic consumer behavior, ecommerce businesses need the ability to adapt quickly and continuously to make proactive changes to their value proposition, pricing, and packaging.
A subscription model allows companies to offer consumers various pricing and packaging options including monthly and annual memberships, curated and set boxes, Subscribe & Save, and more. Ecommerce companies can choose to run A/B tests to learn what works best for each customer segment.
3. Foster Long-Term Relationships
Nurturing long-lasting relationships with customers is more rewarding for brands than one-off interactions. Subscriptions can cultivate customer loyalty and improve retention.
The subscription offering itself can also scale with customers. Once they have subscribed, a self-serve subscription model can provide consumers with a wide variety of choices over their consumption decisions, providing them the ability to alter their preferences, pause or skip shipments, seamlessly switch between subscription and ȧ la carte offerings—all can encourage long-term customer loyalty.
For subscription boxes, customization enables businesses to satisfy consumer needs on their own terms and also adds an element of surprise within each box—keeping customers hooked.
How Technology Powers Subscription Strategy and Consumer Experience
Exceptional customer relationships have always been the best currency in business. That’s even more true in the subscription economy. To provide the best end-to-end consumer experience, automating workflows at scale is now more important than ever because it enables you to save time by eliminating workflows and processes with manual touchpoints.
Pricing and packaging testing also involves time-sensitive decisions. Ecommerce companies need the flexibility to experiment, and the insights to learn fast and iterate. Homegrown systems struggle with rapid testing and sophisticated data analysis. These complexities only increase with scale. That’s where automated subscription management and billing can help
To keep their business focus and maintain growth without having to expend resources, ecommerce businesses should consider vendors that make automating complex subscription billing processes their sole mission. They also need a reliable, frictionless payment partner.
For front-end operations to run smoothly, your billing system has to be robust and scalable. That’s rarely the case with homegrown subscription management and recurring billing systems. They are seldom built to scale, and they are expensive and time-consuming to maintain. Every time you need to add more product categories or expand into new geographies, you need to tack on extra code to stay sales tax compliant and change your operations. As you expand globally, it can be an obstacle to rapid growth and flexibility.
Krish Subramanian is the co-founder and CEO of Chargebee, a subscription billing and revenue management solution for scaling businesses. He is based in Amsterdam and leads a global team of professionals to serve customers in 53 countries to drive Chargebee’s growth year over year. Krish is an engineer by profession and a problem solver at heart with over 20 years of experience in the software field. @cbkrishhttps://www.chargebee.com/
