Welcome to our fortnightly update for all things eCommerce shipping! Keep up to date with the latest shipping news, trends and advancements. This update is designed to help you stay one step ahead of the competition. Whether you are an eCommerce entrepreneur, logistics provider, or just interested in the industry, check out the latest in this fast-paced and ever-changing market.
Will Try Before You Buy (TBYB) Become the New Industry Standard?
Paris-based try before you buy (TBYB) start-up Elyn, has just raised $2.7 Million to fuel international growth. Currently focusing on just French Shopify merchants, Elyn allows customers to trial products for 5 days, boosting conversion rates by 30%. With Amazon launching its own apparel TBYB program for Prime members, Elyn cofounder El Mehdi Hachad predicts:
“Just like free returns and free shipping, every major eCommerce brand will offer a TBYB option in the next 12 months.”
Source: Sequoia backs ecommerce try-before-you-buy startup Elyn in €2.5m raise
eCommerce Profitability in 2023: Focus On Existing Customers and Effective Fulfillment
A research paper released last week by eCommerce platform VTEX, highlights focusing on repeat purchases can help increase margins in the 2023 market. Especially when it is becoming increasingly expensive to win new customers. The paper also indicates making effective fulfillment a core pillar of your business, like Amazon, can help transform delivery into a competitive advantage.
Source: VTEX: 3 investments driving the era of ecommerce profitability
Southeast Asia Forecast as the Leading Region for 2023 eCommerce Growth
eCommerce sales in Southeast Asia are expected to grow at over 18.5% a year in 2023, significantly more than the global market forecast of 8.9%. The outlook is particularly strong in Indonesia, driving growth in the region with a 20% 2023 increase. Despite eCommerce growth expected to drop in other regions, Southeast Asia leads the world for the third year in a row. However, the region is still developing, trailing behind Latin America in overall market size.
Source: Southeast Asia Retail Ecommerce Forecast 2023
eCommerce Start-up Founded by Ex-Amazon Exec Raises $90 Million in Funding
London-based start-up Threecolts, founded by ex-Amazon Yoda Yee, builds cutting-edge tools for third-party sellers on sales channels like Amazon, Walmart and eBay. To feed growth, it has just raised a staggering $90 Million. Since launching in 2021, Threecolts states its 22K customers have collectively generated more $30 Billion in sales, boosted profits by $200 million, and increased detail page conversions by 200%.
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