- July 24, 2020
- Posted by: admin
- Category: Inveon News
The leaders of the e-commerce ecosystem discussed how we can take part in world trade through e-export at the 3rd Future Commerce 360 Loading. The event, which featured Inveon’s Partner Moris Kastro and GrowthLab Director Gunes Mitrani as speakers, also shed light on how Turkish brands can take part in international e-commerce.
FMCG companies were more affected in terms of online shopping frequency
Speakers pointed out that significantly high e-commerce use rates, which would take years to achieve under regular circumstances, were experienced during the COVID-19 outbreak. While online shopping in the FMCG industry is increasing, shipment issues were globally felt. However, UPS Marketing Director Engin Kolat noted that the 50% logistical decrease in March and April were recovered in May.
E-commerce will remain the life of retail
Moris Kastro stated that as Inveon, we projected that the e-commerce volume in Turkey would double up in 2020. Kastro also claimed that e-commerce will continue to be the driving force behind the growth in 2021 as well.
Kastro also noted that growth in e-commerce will also directly increase e-exports. He said: “E-exports have grown at twice the rate of e-commerce growth in recent years. During this period where e-commerce is growing faster than ever, it seems inevitable that growth in e-exports will follow suit. Recent data shows that e-exports will account for 22% of all e-commerce worldwide in 2022. That would lead to a $1.2 trillion market, which indicates an enormous opportunity for our retail and consumer goods industries.”
Well-defined plans lead to successful e-export operations
Gunes Mitrani, Director of Inveon GrowthLab, said that although e-commerce should be defined as a comprehensive project, many companies still choose the countries to export to based on word of mouth. She pointed out that choosing the right market, and the right portfolio are important determinants of success, and they should be planned beforehand.
Mitrani underlined that in order to minimize the potential risks, a comprehensive market analysis backed by solid data is the key.
Mitrani also emphasized that with Inveon inCommerce, complex features are developed such as multi-language structure, automatic exchange of currencies, and shipping price calculation. Mitrani further explained that with the Yargıcı brand, they currently have high volumes in 90 countries with 3 different languages and 3 different currency options.