E-BAROMETER 2024 - Q3

The E-barometer 2024 Q3 report highlights how e-commerce adapts to change

Key highlights from the report:

• Economic impact

  • While economic recovery has started, its effects on household purchasing power remain modest. Inflation and interest rate cuts are influencing consumer behaviors ahead of the holiday season.

• E-commerce growth

  • Overall growth in Q3 2024 was 5%, with variations across sectors:
    • Pharmacy (+19%) and fashion (+9%) performed strongly.
    • Home electronics (-2%) and building products (-5%) faced challenges.
    • Furniture and home furnishings saw a modest recovery (+2%).

• Black week and christmas shopping

  • Black Week remains a critical period, blending into Christmas shopping. However, consumer uncertainty is high, with only 54% of respondents confident about buying gifts online— the lowest figure since 2017.
  • Home electronics dominate Black Week, while children’s items, clothing, and books are top categories for Christmas.

• Consumer trends

  • Increased focus on discounts, with international and second-hand purchases gaining traction.
  • Younger consumers are more likely to postpone purchases until Black Week.
  • Sustainability is influencing behavior, with some consumers opting for fewer but more thoughtful gifts.

• Sector adaptations

  • Retailers are leveraging loyalty programs and campaign personalization to maintain relevance during competitive periods.
  • Strategies such as hybrid models and collaborations (e.g., supermarkets and Q-commerce) are reshaping sectors like groceries and building products.

• Google insights

  • Tips for retailers emphasize improving customer experience, leveraging AI for personalization, and optimizing for visual search to attract and retain consumers during peak seasons.

The report underscores the resilience and adaptability of e-commerce amidst economic uncertainty while highlighting shifts toward sustainability and digital innovation.