.webp?width=459&height=121&name=Site-Logo_Retina-Logo-Wht%20(1).webp "Fidelity Fulfilment"){kind=logo}
EU Market Trends: What UK Sellers Need to Know
As more and more UK eCommerce brands look at expanding into the EU, understanding the latest trends and consumer preferences is crucial for success. The EU ecommerce landscape is dynamic, shaped by evolving consumer behaviors, advancements in technology, and cross-border market dynamics. Let's look at some of the key trends in the EU ecommerce market for 2024 - along with some insights to help UK sellers align their strategies with local demands.
Rise of Mobile Commerce
The Trend: Mobile commerce continues to gain momentum in the EU, with an increasing number of consumers using smartphones and tablets to browse and shop online. According to Statista, mobile devices accounted for around 281 billion U.S. dollars worth of sales in 2023 - and forecasts suggest that this figure will surpass 358 billion USD by 2027. However, the cart abandonment rate on mobile devices is much higher - 80.79% - compared to 73.93% on desktops.
The Solution: UK sellers looking to sell in the EU should prioritize mobile optimisation. Investing in responsive design, intuitive navigation, and mobile-friendly checkout experiences helps cater to the growing segment of mobile shoppers in the EU. One way to counter cart abandonment is by offering customer accounts, 'saving' their basket into a wishlist and utilising reminder emails or 'buy now' deals in order to intice customers to complete their purchases. By providing a seamless mobile shopping experience, sellers can capture the attention of on-the-go consumers and drive higher conversion rates.
Emphasis on Sustainability
The Trend: For sellers focusing on the luxury goods market, sustainability is a key trend for 2024. A recent study has revealed that around 77% of shoppers in Europe are interested in buying sustainable luxury products - and 51% of these shoppers are willing to pay up to 10% extra for sustainably made goods . The 2023 Europe Luxury Report shows that sustainability has emerged as a key concern for EU consumers, particularly those moving away from fast fashion. These shoppers are driving demand for eco-friendly products, ethical sourcing, and sustainable packaging. And it's not just the luxury goods market looking towards a greener future. New guidelines on the environmental impact of ecommerce suggest all e-commerce sellers need to look into environmentally friendly options - such as greener packaging, and more efficient shipping and order fulfilment.
The Solution: UK Sellers can immediately reduce their environmental impact by looking at an EU based fulfilment hub for storing and shipping their goods to EU customers. UK sellers can also emphasise their commitment to sustainability by offering environmentally conscious products, implementing eco-friendly packaging practices, and transparently communicating their sustainability efforts to consumers. By aligning with consumer values and prioritizing sustainability, sellers can not only attract environmentally conscious shoppers but also build brand loyalty and credibility in the EU market.
Growth of Cross-Border Ecommerce:
The Trend: Cross-border ecommerce within the EU is thriving. In Europe, cross-border sales were worth 179.4 billion euros in 2022 - an increase of 4.8 percent compared to a year earlier. With consumers increasingly purchasing goods from sellers based in other EU countries - with reasons varying from availability to price - having a European base for your eCommerce business is becoming more and more important for brands and online sellers.
The Solution: UK sellers should capitalise on this trend by offering competitive pricing, fast shipping, and an EU base for their order fulfilment. In order to attract EU customers and differentiate themselves in the competitive marketplace, partnering with an experience EU based fulfilment hub is vital. By understanding the nuances of cross-border trade and tailoring their offerings to meet the needs of EU consumers, sellers can expand their customer base and drive growth in the EU market.
Personalisation and Customer Experience:
The Trend: Personalisation is becoming increasingly important in the EU ecommerce market, with consumers expecting tailored product recommendations, targeted marketing messages, and personalised shopping experiences. 77% of consumers have chosen, recommended, or paid more for a brand that provides a personalised service or experience - and customers are increasingly happy to create accounts or link with loyalty schemes in order to access a tailored online experience. Using this data safely is paramount - which is why many e-commerce sellers choose to partner with global sales platforms like Shopify in order to safely and effectively store customer data.
The Solution: UK sellers marketing to EU customers should leverage data analytics and customer insights - to personalise their offerings, deliver relevant content, and enhance the overall shopping experience. By leveraging technology and data-driven strategies, sellers can create personalidsed shopping journeys that draw in more shoppers looking for a tailored online experience - in turn, driving higher engagement and loyalty.
Prioritise Efficient Use of Space
The Trend: Omni-channel retailing, which integrates online and offline channels seamlessly, is gaining traction in the EU, as consumers demand flexibility and convenience in their shopping journey. An Omnisend study found that omnichannel campaigns saw an 18.96% engagement rate, while single-channel saw just a 5.4% engagement rate.
The Solution: Online shoppers will often 'click away' from a product multiple times before committing to buy - and that's where the omni-channel strategy comes in. Linking your sales platform, social media pages, and even physical locations (if you have them) together as a unified brand allows customers multiple touch points, or 'micro-conversions' - and this makes it easier to follow up on potential sales via personalised emails or social advertising. By creating a unified shopping experience across channels, sellers can meet consumers where they are, creating multiple opportunities to sell.
As UK sellers venture into the EU ecommerce market, keeping track of key trends and consumer preferences is the key to success. By understanding the latest trends, brands can tailor their strategies to align with local demands - and effectively compete in the growing EU marketplace. With careful planning, strategic execution, and anunderstanding of local market dynamics, UK sellers can thrive.
With years of experience in e-commerce fulfilment, Fidelity Fulfilment is the ideal partner for your eCommerce brand. We provide our partners with state-of-the-art technology and integrations, operational efficiency (with 99% accuracy rates), and high levels of customer satisfaction. Why not get in touch, and see how we can help your UK eCommerce brand grow in 2024?
Comments