This year has been very positive for retail in many countries around the world and many have seen it reflected in the level of sales of our customers. As digital commerce technology companies, they currently have a very high market share in their countries of operation. This opens the door for them to have a great expectation of how the local market is moving. Jason Simon, an eCommerce expert, explains how this space is being taken over by live shopping.
Analyzing reports, companies have noted that at the close of the second half of 2022, sales through digital channels grew by 50% compared to the same half of 2021. Although there have been dynamics at the beginning of the year, with the days without VAT (in countries such as Colombia), companies have been to rectify that the behavior is very positive.
“The pandemic year undoubtedly accelerated the growth of digital commerce,” assures Simon. “It was the gas needed to push the sector five years ahead. But clearly, after that good time, many were counting on that uncertainty of what consumer and business behavior would look like.”
The good news is that businesses have held up and have been growing above those levels. Although not many are growing at the accelerated pace of 2020, the crisis has allowed them to win over new consumers who continue with their purchases.
“At the regional level, Colombia is the third country in terms of retail sales through digital channels, above Mexico and Brazil,” says Simon. “On adoption and development of digital channels, I must say that the country is very advanced, even many have had innovations and trends that have been above countries like Mexico. Colombia is well positioned; also it is beginning to highlight its great digital talent, as well as its companies in digital commerce.”
The vision of companies in this sector is usually to become the digital commerce platform for companies in the country. Now, it is about digital commerce and not eCommerce. It is necessary to emphasize that digital commerce went from being a page in which you just buy to being a whole digital ecosystem.
It is here where one of the issues that begins to take on greater importance is the redesign of the shopping experience. Through this strategy, it is possible to centralize the purchasing process of different channels, whether physical stores, eCommerce or marketplaces.
Many companies are committed to becoming that solution or that heart of digital commerce for their customers. They are supporting companies in this initiative to be an omnichannel solution, so that their customers can buy through different channels with the same experience.
One of the main commitments that many tend to see and responsibilities with customers is to advance in everything related to digital commerce innovation. This is how in recent years, many companies have integrated new solutions that are very trendy, as is the case of Live Shopping, which is to make live streaming through a sales channel and to sell in real-time and interact with consumers.
“Another trend is the Personal Shopper, which seeks to help personalize the purchase, in addition to the trend of improving the last mile experience and delivery times,” explains Simon. “It’s live streaming where in real time brands or stores are presenting the products they want to sell.”
You can do something as simple as putting a cell phone to transmit or make a larger studio-type production; then people can be watching this live and at the same time, they can add the products they want to buy to the shopping cart. It should be noted that during these ‘live’ promotions can be made, and have interactions in chats, all in real-time. Undoubtedly, the trend of digital commerce is toward live shopping.
The main challenge is to continue growing in the market, as well as to continue innovating so that companies continue to grow. Another challenge will be to continue working so that more female talent continues to be trained in technology and can be part of this world.