How ecommerce sites can rise above price-driven competition

JEFF RAJECK | August 19, 2018

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A recent report from Shopify states that global ecommerce sales have been growing at an average of 20% per year since 2014 and double-digit percentage growth will continue through 2021. At this rate, ecommerce sales will reach $4.5 trillion worldwide by 2021.These rosy statistics, however, mask the enormous pressure ecommerce businesses are facing. While consumer demand grows, tight margins due to fierce competition are making life tough for the companies who operate in this space.So what can ecommerce sites do about this situation? How can they break free from the competition and still be around to benefit from the projected ecommerce industry growth?To find out, Econsultancy, in association with Magento and BORN Group, recently held roundtable discussions with senior ecommerce marketers in Mumbai. At the event, participants highlighted their current challenges and discussed potential solutions. Below is a summary of the topics covered on the day.

Spotlight

Unbxd Inc

Unbxd is a leading e-commerce product discovery platform that applies advanced data sciences to connect shoppers to the products they are most likely to buy, while providing predictive actionable insights for merchandising. With Unbxd’s Machine Learning Site Search, shoppers receive optimized search results based on merchandiser insight coupled with advanced machine learning algorithms.

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