The estimated value of the Polish market is around 120 billion PLN. Although in 2023 both national and global e-commerce had to face numerous challenges, it managed to maintain a growth trend which is expected to stay at approximately 11% annually in the coming years. What elements will determine the success or failure of online commerce in the coming year? What should e-commerce prepare for? Industry experts strive to answer these questions.
Maja Wiśniewska, Head of Marketing in SMSAPI, a platform for mass delivery of SMS, MMS, VMS, and RCS messages
Demanding Customer Service Standards
E-commerce giants like Allegro or rapidly growing Temu are setting new e-commerce standards based on instant delivery, flawless customer service, and dispute management. Polish consumers will quickly get used to these standards and will demand from online store owners to provide top-level service. E-commerce must be ready to implement standards such as next day or even same-day delivery and efficient dispute resolution.
Ongoing Crisis in the Global Supply Chain
The geopolitical and economic situation is causing huge delays in the international delivery of goods, which directly affects the supply on the Polish market. For stores using international products or semi-finished products, it’s a massive challenge. It requires an analysis of customer behavior trends and meticulous inventory planning before major events like Black Friday or spring sales.
Sustainable Shopping
An increase in awareness of sustainable shopping, the slow shopping trend, and EU requirements for reporting non-financial factors such as environmental, social, and corporate order will be a lever for the development of green shopping. Customers are increasingly making responsible and ecological purchase decisions, which prompts online stores to adjust their offer and business practices to meet the growing demand for sustainable products and pro-ecological approach.
Mobile-first and this time for real!
63% of consumers in Poland search for purchase offers on their mobile devices, while only 37% do so on computers and laptops. A lack of marketing strategy that takes into account small screens is a mistake not only due to the potential loss of customers but also trust, as brands are now building their presence through social media applications like Instagram or TikTok. In 2024, let’s not forget about unrivaled and simple solutions such as SMS and email communication, which are within the reach of even the smallest online store.
Mariya Kallagova, Marketing Director at Rozetka.pl, the Polish branch of the largest e-commerce company in Ukraine
In my opinion, the keyword for e-commerce in 2024 will be retention. This is due to the constantly rising cost of acquiring new customers. According to Deloitte Digital data, the unit cost of acquisition is even five times higher than the cost of maintaining a current customer. In this situation, shifting the emphasis to retention seems like a sensible solution.
Creative marketing, even the best, does not have to translate into sales. When combined with well-utilized own communication channels such as the website, social media, newsletters, etc., they allow a brand to be built and relationships with customers to be tightened.
However, the creation of a lasting relationship must start with the best possible customer experience during shopping and a sufficiently high level of after-sales service. This increases the chances of customers returning and making further purchases.
Marcin Szczur, Manager of the Business Unit Platforms & Marketplaces at Autopay
2023 was a time of growth for the sector, although not as spectacular as in previous years. We observed increases at the level of 30% year on year in terms of transactionality. The industry organically allowed participants to strengthen the sector with tools and solutions using the latest technologies, including artificial intelligence.
During this year’s weekend of discounts and price promotions, which included Black Friday (24.11) and the accompanying Cyber Monday (27.11), we recorded over 16% more transactions in the Autopay payment system than in the same period last year. E-commerce turnover rose by nearly 31.5% compared to 2022.
The past year has reinforced observed trends in payments. From our regular opinion survey, the most commonly chosen form of payment is BLIK (51%) – and for younger consumers it’s also their favorite. The percentage of people using BLIK is steadily increasing with each passing year. Shoppers most commonly used BLIK to pay during this year’s Black Friday. This method of payment processed 58% of transactions and accounted for over 54% of turnover. Almost 23% of transactions were paid for by card, which accounted for over 14% of turnover on Black Friday.
What can we expect in the coming year? E-commerce payment trends in 2024
The upcoming year in e-commerce will be marked by closer cooperation between key segments: logistics, digital advertising, multichannel sales, and payments. The trend of developing tools dedicated to e-commerce will increase, improving the shopping experience at all stages of a transaction. The use of data to gain a competitive advantage in the industry will certainly rise as well.
Seamless experience in payments
It’s worth emphasizing that an important element of building the shopping experience today is the elimination of barriers that could impede the realization of consumers’ intentions. Payment should be virtually unnoticeable part of the transaction. Conducted conveniently, intuitively, and automatically. The industry will aim to maximize the positive experiences of consumers.
Deferred payments
This is a trend for not only next year but also for the next few years. According to forecasts by Research and Markets, by the end of this decade, deferred payments are to become the most frequently used form of payment for online purchases.
Digital wallets
This method, increasingly combined with instant payments, perfectly adapts to the diverse needs of consumers, developing in a variety of business models. It is distinguished by its convenience, time-saving features and safety. It’s worth noting that digital wallets pose a certain challenge for traditional banks and payment service providers. The competition around them is growing dramatically in the form of fintechs and other native digital players. The evolution of digital wallets is closely tied with the need to implement state-of-the-art technology. Solutions like “platform as a service” (PaaS) or generative artificial intelligence (AI) are becoming key to fully satisfy customers’ expectations, streamline payment processes, and effectively prevent potential fraud.
Growing use of AI
Artificial intelligence is being increasingly used in the payments industry. It allows for the analysis of extensive background data, enabling quick verification of the credibility of buyers and supporting credit risk assessment. AI makes it possible to, for example, make a fast decision on granting online purchase credit.
Commerce Media
Linking e-commerce with digital advertising, known as commerce media, may be a significant trend in e-commerce in 2024. Commerce media changes the rules of the game in digital advertising. Brands can promote their products directly on shopping platforms using personalized ads tailored to customers’ preferences, which increases conversion efficiency. In the age of AI, commerce media meets consumer expectations by offering personalized, instant and user-friendly shopping experiences. This is the future of e-commerce, where advertising and online shopping come together, creating a new advertising reality.
