eCommerce order fulfilment: statistics you need to know
In the ever-evolving world of eCommerce order fulfilment, efficient and effective processes can make or break your business. With new trends and consumer expectations constantly shaping the industry, businesses must prioritise order fulfilment to stay competitive. This blog dives into the latest statistics for 2024, revealing current trends and future opportunities in eCommerce order fulfilment, and equipping you with the insights needed to thrive in this dynamic environment. Whether you’re leveraging the Best Order Fulfillment Software or a comprehensive eCommerce Order Management System, the right strategies can significantly impact your success.
The Relevance of Brick-and-Mortar Stores in a Digital Age
Despite the digital boom, 90% of retail sales in 2024 still involve physical stores, either through in-store purchases or click-and-collect services.
This statistic challenges the misconception that brick-and-mortar stores are obsolete. While online shopping continues to grow, physical stores still play an essential role in the customer journey. To craft an effective eCommerce order fulfilment strategy, integrating both online and offline channels is crucial. Incorporating models like “Buy Online, Pick Up In-Store” (BOPIS) can enhance the customer experience and drive sales by offering greater convenience and flexibility. This integration is where an effective Order Management System comes into play.
Global eCommerce Growth and the Need for Advanced Order Fulfilment
Global eCommerce sales are projected to reach $7.4 trillion by 2024, with mobile commerce accounting for 72.8% of all eCommerce sales.
This exponential growth indicates a rising demand for efficient order management solutions and Warehouse Management Systems (WMS). As the eCommerce market expands, businesses must adopt advanced technologies like AI and automation to streamline order processing, reduce delivery times, and enhance customer satisfaction. Establishing a robust eCommerce order fulfilment framework that can scale with this growth is imperative for long-term success. Solutions like Cloud-Based WMS provide scalability and efficiency for managing this growth.
Last Mile Delivery: The Final Frontier
The last mile delivery market is forecasted to grow at a CAGR of 18% between 2024 and 2028, driven by customer demand for faster delivery options (PwC).
Last mile logistics is often the most challenging and expensive part of the fulfilment process. With customers now expecting same-day or even two-hour delivery windows, investing in efficient last mile logistics, including partnerships with local courier services and utilising delivery drones or autonomous vehicles, can be a game-changer in meeting these heightened expectations. Businesses that excel in this area will not only satisfy their customers but also gain a competitive edge. Leveraging a Warehouse Control System can enhance the efficiency of last mile delivery.
Sustainability in eCommerce Fulfilment
In 2024, 60% of consumers prefer brands that implement eco-friendly shipping and packaging practices, influencing their purchasing decisions.
Sustainability is no longer just a buzzword; it’s a demand. Brands that incorporate eco-friendly practices in their order fulfilment process, such as using recyclable packaging and optimising delivery routes to reduce carbon emissions, can build stronger relationships with environmentally conscious consumers. This aligns with customer values and promotes long-term brand loyalty, making sustainability efforts a key differentiator in today’s market. Tools like Inventory Management Solutions can help streamline operations to minimise environmental impact.
Omnichannel Integration is Non-Negotiable
In 2024, 88% of consumers expect a seamless shopping experience across multiple channels, whether they are browsing on a website, mobile app, or social media platform.
To stay competitive, businesses must provide an integrated shopping experience that synchronises inventory across all platforms, offers flexible shipping options, and ensures consistent customer service. An omnichannel approach not only boosts sales but also enhances customer loyalty by delivering a unified shopping experience. Additionally, 85% of retailers plan to invest in omnichannel fulfilment strategies in 2024, indicating the growing importance of this approach. Using the Best Warehouse Management Software can facilitate seamless omnichannel fulfilment.
Customer Experience: The Key to Retention
94% of consumers in 2024 are more likely to become repeat customers if a brand provides a seamless and enjoyable order fulfilment experience.
The customer experience extends beyond the purchase itself. It’s about how quickly and accurately an order is processed, shipped, and delivered. 80% of consumers expect free shipping, and 65% desire same-day or next-day delivery. Businesses that prioritise a hassle-free return policy, provide Real Time Inventory Tracking, and offer personalised packaging are more likely to retain customers and encourage repeat purchases. By focusing on delivering an exceptional fulfilment experience, you can drive customer loyalty and increase your repeat business. A comprehensive Order Management System can play a key role in enhancing customer experience.
Technology and Automation in Order Fulfilment
AI and robotics are increasingly being used in warehouses to optimise inventory management, improve demand forecasting, and automate tasks such as picking, packing, and transporting goods.
Technological advancements like AI, machine learning, and robotics are revolutionising the order fulfilment process. AI can help in optimising inventory levels, predicting demand more accurately, and automating warehouse operations, while robotics can significantly speed up the picking and packing process. Investing in these technologies can result in faster, more accurate fulfilment and a reduction in operational costs. Implementing a Cloud Based WMS can provide real-time insights and automation capabilities to streamline your warehouse operations.
Personalization and Data Analytics
In 2024, 50% of consumers are willing to share their data for a more personalised shopping experience including tailored order fulfilment options.
Leverage data analytics to personalise the order fulfilment process. Use customer data to offer customised delivery options, suggest products based on past purchases, and even tailor packaging to enhance the unboxing experience. Personalization fosters a deeper connection with customers and can significantly improve their satisfaction. By utilising an eCommerce Order Management System that integrates data analytics, businesses can make informed decisions that enhance the customer journey.
Emerging Trends in eCommerce Fulfilment
Social commerce sales are expected to reach $45.74 billion in 2024, while voice commerce continues to grow with the increasing use of voice-activated assistants like Amazon Alexa and Google Assistant.
New trends like social commerce, live streaming commerce, and voice commerce are reshaping the eCommerce landscape. Social media platforms are becoming increasingly important for eCommerce, allowing brands to reach new audiences and provide a more interactive shopping experience. Voice commerce is also making it easier for consumers to shop online through voice-activated assistants. By staying ahead of these trends and incorporating them into your order fulfilment strategy, you can better meet the evolving demands of modern consumers. The use of Best eCommerce Warehouse Management Software can help manage these complexities efficiently.
Future Trends and Strategic Advice
As we look to the future, emerging technologies such as drones for last-mile delivery and blockchain for supply chain transparency are likely to further transform the eCommerce order fulfilment landscape. Businesses that proactively invest in these technologies will be better positioned to offer innovative solutions and enhance customer satisfaction. Additionally, focusing on international markets like China, the leading eCommerce market globally, and Turkey, which is projected to grow at a CAGR of 14.59% in the next three years, can open new revenue streams. Utilising Inventory Optimization Tools can help businesses maintain the right stock levels across these diverse markets.
Conclusion and Call to Action
The eCommerce landscape is evolving rapidly, and businesses must adapt to stay competitive. By understanding the latest trends and investing in efficient order fulfilment processes, you can deliver exceptional customer experiences and drive growth in your eCommerce business. The statistics and insights provided above not only highlight the current state of the industry but also offer a roadmap for future success. From integrating omnichannel strategies to leveraging advanced technologies, there’s much you can do to improve your fulfilment process.
Ready to revolutionise your eCommerce order fulfilment? Discover how Canary7 can transform your fulfilment strategy with cutting-edge technology, ensuring you stay ahead of the competition in this rapidly evolving market. Explore Canary7’s Best Warehouse Management Software and Order Management System to streamline your fulfilment processes today.
Mishal Khan
Author
UPDATED ON: 19th Dec 2022
Mishal is a dedicated copywriter and content writer with experience across various niches. Currently, Mishal is focused on writing guides and other compelling blogs on warehouse management, logistics and more, crafting engaging and informative content to help businesses understand and master their supply chain. Passionate about delivering quality content, Mishal aims to make complex topics accessible and enjoyable for all readers.
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