According to reports the global e-commerce fulfilment market was valued at $69.14 billion in 2020 and is expected to reach $168.73 billion by 2025. Another study found that 96% of online shoppers say that ecommerce delivery and ecommerce packing or shipping speed along with pick and pack services and shipping and handling are important factors in their online shopping experience, and 60% of shoppers have abandoned an online shopping cart due to unsatisfactory delivery options. A report even found that the cost of poor e-commerce fulfilment can be high, with ecommerce businesses losing $313 billion in sales due to out-of-stock products and $60 billion due to poor online product descriptions. 63% of online shoppers expect buying from ecommerce stores expect orders to be delivered within three days or less, and 95% of shoppers expect to receive a tracking number for their order.
These statistics highlight the importance of e-commerce fulfilment in providing a positive ecommerce shopping experience and maintaining ecommerce customer loyalty. E-commerce businesses that invest in efficient and effective ecommerce fulfilment operations are more likely to succeed in the competitive online retail market.
E-commerce fulfilment - receiving, processing, and delivering online orders to customers is undoubtedly a crucial part of any ecommerce business. It requires attention to detail and stellar ecommerce fulfilment processes to ensure that no stone is left unturned. It easily becomes the reason a customer either likes or dislikes your ecommerce brand. The fulfilment process involves several steps, including order processing, picking and packing of items, labelling, and shipping. E-commerce fulfilment centres are equipped with technology and software that streamlines these processes and ensures timely and accurate delivery of orders. The goal of e-commerce fulfilment is to provide customers with a seamless ecommerce shopping experience by fulfilling their orders efficiently and accurately. With the rise of e-commerce, the importance of ecommerce fulfilment has increased too, and businesses are investing in fulfilment centres and ecommerce logistics infrastructure to meet the growing demand. Bad e-commerce fulfilment can have a significant negative impact on e-commerce businesses. When the ecommerce customer experience is delayed or there are errors in order fulfilment, it can lead to dissatisfaction and a loss of trust in the ecommerce retailer. Negative reviews, ratings, and word-of-mouth can spread quickly in the online world, leading to a damaged reputation and a loss of future sales. Poor ecommerce fulfilment can also lead to increased returns and refunds, which can further impact the profitability of the business. Additionally, inaccurate ecommerce inventory management can lead to stockouts or overstocking, resulting in lost sales or increased costs due to excess inventory. Finally, inefficient and costly fulfilment processes can lead to decreased profit margins and increased operating costs, which can impact the overall financial health of the business. In short, bad e-commerce fulfilment can have far-reaching negative consequences, making it essential for e-commerce businesses to prioritize and invest in efficient and effective fulfilment operations. E-commerce fulfilment can be challenging due to several factors. One of the biggest challenges is managing inventory, as ecommerce retailers need to maintain accurate stock levels to fulfil orders promptly. Additionally, managing multiple sales channels, such as online marketplaces and social media platforms, can be difficult, especially when coordinating ecommerce inventory levels across all channels. Order accuracy and timely delivery can also be challenging, as errors in order processing, picking, packing, and shipping can result in dissatisfied customers. Another challenge is managing returns and refunds, which require careful processing to ensure e-commerce customer satisfaction while minimizing financial losses. Finally, managing the cost of e-commerce fulfilment can be challenging too, as it involves significant investments in ecommerce logistics infrastructure, technology, and personnel. Despite these major ecommerce fulfilment challenges, businesses that invest in good e-commerce fulfilment management can benefit from increased customer loyalty and improved sales, making it a crucial aspect of the modern ecommerce retail industry.
To address the major challenges of e-commerce fulfilment, businesses can implement a range of strategies and solutions. For instance, e-commerce retailers or ecommerce business owners can use ecommerce inventory management systems to maintain accurate stock levels and avoid stockouts. To manage multiple sales channels, retailers can use centralized ecommerce order management systems that integrate with all channels and enable real-time ecommerce inventory updates. In terms of order accuracy and timely delivery, businesses can use automated technologies such as robotics and artificial intelligence to improve picking and packing accuracy and speed up the order fulfilment process. To address ecommerce returns and ecommerce refunds, businesses can develop a clear and customer-friendly return policy and use technology solutions that enable efficient returns processing. Finally, to manage the cost of e-commerce fulfilment, ecommerce businesses can consider better ecommerce fulfilment processes or ecommerce business models like outsourcing fulfilment to third-party logistics (3PL) providers or investing in warehouse automation technologies that can reduce labour costs and improve efficiency. Overall, by implementing a combination of these solutions, businesses can improve their e-commerce fulfilment operations and provide their customers with a seamless and satisfying online shopping experience or ecommerce shopping experience.
Another opportunity for ecommerce businesses that are facing difficulty with order fulfilment or ecommerce fulfilment processes is - Storeez. With simplified order fulfilment and easy-to-operate systems that enable better visibility on orders or split single orders into multiple for quick fulfilment, along with real-time info on the stock availability in the store Storeez can transform your ecommerce business and set the tone for better ecommerce business model which helps you achieve all your goals!