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October 5, 2023

E-barometer Q2: Insights and Trends in Swedish E-commerce

Postnord have published their report of the latest insights and trends in the Swedish e-commerce landscape for Q2. 

The report is digging deeply into consumer behavior and preferences, focusing on key aspects like deliveries, returns, and the checkout process. In today’s world, where delivery apps play a significant role in how Swedish consumers shop, HDL Commerce prioritizes the ability to adapt to these shifting preferences and places a strong emphasis on delivering exceptional customer experiences.

HDL Commerce recognizes the paramount importance of adaptability and customization, especially during uncertain times. The “composable architecture” in HDL platform, makes it easy for e-merchants to select and combine independent modules that precisely align with their specific needs.

 

E-commerce industries Q2 2023

The report starts off with showing 3 different possible scenarios for the e-commerce industries:  

  1. Better times ahead where inflation slows down, we experience a greater optimism and consumption slowly starts getting back to normal levels. 
  2. Recession keeps a tight grip and growth is slow on the market. Interest rate stabilizes during the year of 2024 and consumption starts to increase after this. 
  3. A deeper crisis is to be expected with even higher grocery costs, increasing interest rates and troubled geopolitical situation.      

The different scenarios require e-commerce businesses to navigate and develop their companies in different ways. To move forward in any scenario, it is also necessary to keep track of the statistics from recent customer movements. Recent times have had varying impacts on different industries, with the most significant difference noticeable between the pharmacy trade and the construction trade. The development of e-commerce has shown that second hand and pharmacies continuously show growth on the market, while bigger financial purchases such as home electronics and construction trade shows a big decrease in business development. 

 

The development of e-commerce for the online industries

 

  • Pharmacies + Beauty: +21%
  • Clothes & Shoes: +2%
  • Sport and Leisure: +1%
  • Furniture + home decoration: -3%
  • Groceries: -3%
  • Home electronics: -5%
  • Books and media: -7%här är hela 
  • Hardware stores / Construction Trade: -19%

 

Consumer Preferences and Insights on Deliveries, Returns, and Checkout in e-commerce

The report also deep dived into consumer behaviors and opinions on deliveries, returns and checkout with some useful knowledge and lessons to learn from. 

 

Deliveries: 

Delivery apps

Delivery apps have become popular among Swedish e-commerce consumers, offering ease, user-friendliness, and convenience. These apps have improved user satisfaction with the delivery process, making it more user-friendly. Most users only have one delivery app, indicating that a positive first impression and meeting user needs can create loyalty. This reflects the development of a loyal and consistent relationship between the user and the app. Such loyalty can translate into long-term customer retention and advocacy. 

 

Consumer preferences

Consumer preferences for delivery methods vary depending on factors such as city size and the type of product purchased. Notably, 26% prefer delivery points, 22% prefer mailbox delivery, 20% prefer delivery in front of their door, and 19% opt for parcel box delivery. Additionally, 3% prefer collecting their orders in physical stores. These purchases can be influenced by the customer’s location and the nature of their purchase. 

Customers have clear priorities when it comes to deliveries. The majority (59%) value the ability to choose how their parcel should be delivered, while 26% emphasize the importance of knowing the delivery date in advance. This highlights the significance of providing flexible delivery options and clear delivery date information to meet customers expectations. 

 

Predictability brings satisfied customers

Interestingly, customers prioritize predictability and adaptability in delivery timeframes over fast delivery. This means that offering a clear and adjustable delivery timeframe is more crucial than striving for fast deliveries. Therefore, maintaining clear communication from e-commerce companies is of paramount  importance in meeting customers´expectations and ensuring their satisfaction.

deliveries in ecommerce - hdl commerce

 

Returns:

Implement AI

To implement AI in e-commerce is growing, with 9% of companies using AI for product recommendations. This AI implementation can be a strategic move to reduce return rates by providing more accurate product suggestions that align with customer preferences, ultimately enhancing the overall shopping experience. 

 

Possible to return item in store

Allowing customers to return items in physical stores presents an opportunity for businesses to ensure that customers leave with an alternative product instead of a refund. This not only potentially reduces return-related costs but also encourages in-store sales and fosters a positive customer experience. 

 

Need for a Completely digital return journey

A fully digital return process, which eliminates the need for printing paper labels and documentation, is gaining importance. Currently, only 11% of e-commerce businesses offer a completely digital return journey, Embracing digital returns can streamline the process, reduce environmental impact, and enhance convenience for both consumers and businesses. This highlights and potential for further adoption of digital solutions in the e-commerce return journey.

 

Checkout:

Alternative Payment methods:

The report brought up that it is important that e-commerce businesses keep themselves updated with alternative and new payment solutions, as complement to the more usual (and important) card and invoice options. Swish, mobile pay, the recently launched apple pay later and other solutions that arise on the market are therefore important to keep track of and implement. 

 

Safe and secure checkout

Not surprisingly, one of the most important and crucial aspects for customers when it comes to the checkout process is that it feels safe and secure. The top factors that consumers looked for in the checkout process was the following:

  • Recognition of payment options (63%)
  • Not needing to register / become member (60%)
  • Choose between different payment options (58%)

 

Customer Laziness 

Another interesting fact was that about 10% of canceled purchases are due to the preferred payment option not being provided for the shoppers specific situation. An example of this was if a checkout only requires payment to be done with a payment card and the customer does not have it on hand at the very moment of the purchase (even though it might be in another room) they will cancel the purchase. An interesting thought is therefore that checkouts should register if someone is on the move, on their phone or desktop and offer different checkout options depending on this. We reckon there is a huge market for development in the checkout of many e-commerce stores – a part of the customer journey that in many cases is down prioritized. 

card payment ecommerce

Founder & CEO

Screenshot 2023-10-02 at 21.25.57

Pierre Grönberg

Im a creator of things

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