The impact of Russia war against Ukraine on eCommerce
Since the pandemic, eCommerce has grown significantly. Forecasts for 2022 also showed a further increase. However sales growth has slowed down since the earth-shattering war in Ukraine. What does this mean for eCommerce now?
The development of eCommerce
According to the published forecast from Statista, in 2022, global eCommerce sales should increase almost twice as much compared to 2019. But now, the shocking war in Ukraine has caused strong inflation, which has led to a sharp rise in prices across Europe.
Through our community survey, we were able to find out that 78% of people surveyed want to reduce their consumer spending since the price increase. As a result, online retail sales are declining.
What is the solution?
Many companies reduce their marketing expenditure to save money. But advertising is the only way to attract new customers and motivate existing customers to buy again. Therefore, you should focus on performance-based marketing. Because here, you generate measurable reactions or transactions among consumers.
Furthermore, here you can also benefit from the following:
· Exact evaluations of the successes
· Real time analysis allows for instant success measurement
· Transparent costs and budgets
· Flexible budgeting
· Easy budget calculations of marketing activities
· Exact targeting and planning of the campaigns through the pre-defined marketing objectives
To help you increase your sales again, Tradedoubler offers a wide range of performance marketing solutions for you. Starting with the premium media cooperation’s, social media partnerships like TikTok, influencer marketing with metapic, Tradedoubler Programmatic, Search, App-Install to customer service, and win-back with loyalty, cashback, and remarketing.
What consumers want
Consumers have strongly been affected by inflation. So it is now even more important to focus on what customers want. Therefore, we have asked consumers about their shopping behaviour in our community survey.
The high increase in sales since the pandemic is also confirmed by the interviewed sample. As 71% of them are now increasingly shopping online. That should not change in the future because the advantages of online shopping outweigh the disadvantages. Here, 90% are now looking more closely at prices, and 80% want to save their money on consumer spendings such as Travel (55%), Food & Drink (30%), and Home & Garden (29%). Since the price increase, 89% of the respondents now look for discounts, vouchers, or similar on the internet to save even more money.
Preference is given to discount codes, cashback sites, voucher sites, price comparison, and discounts through apps. Therefore, you should focus on these four publisher categories in your performance marketing campaign.
Do you want to boost your sales through performance marketing? Together with our experts, we will find the perfect performance solution for you. Get in touch with us now >>