eCommerce Keeping pace


with the evolving consumer


Daniel Todaro, founding partner and managing director of Gekko Group, looks at where brands should be focusing their attention if they wish to grow their e-commerce performance in 2024.


S


hopping online became the de facto route to market for consumers in 2020 driven by necessity due to store closures. Te ONS reported the proportion of online retail sales peaked at 38% in January 2021 vs 20%


the year previous. While the average sales split has returned to 26% since this peak, the manner that both experienced and less experienced online consumers engage with brands and retailers, across multiple channels, has rapidly evolved. With considered purchases, in particular technology but not limited to this, it has sparked a greater importance for a brand’s omni- channel customer journey. Tis in turn has encouraged a race for retailers to enhance their operational agility in e-commerce to remain competitive and appealing. To play in the e-commerce space is not to simply offer a transactional site online but a well-considered data stack that ultimately understands the customers’ needs at each touchpoint and marries them up to the retailer’s unique proposition. Further market uncertainty in 2023 continued to drive evolving consumer


behaviour. Tis will continue in 2024 as retailers brands adapt their strategies to convert on the now normal, lengthening online consideration phase due to squeezed budgets. Retail website traffic is increasing year on year, and mobile as a share of that is also increasing. Te purchase cycle is likely to lengthen, becoming normal, as consumers sit in the consideration stage for longer across multiple touch points. Tis is likely to increase as we


30 | January/February 2024 www.pcr-online.biz


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