Logistics giant DHL has released its 2024 mid year e-commerce survey, which finds that despite economic challenges, small and medium-sized enterprises (SMEs) are optimistic about e-commerce in 2024.
A latest survey shows 65% of respondents expect their e-commerce sales to grow compared to 2023, with 24% predicting a significant increase and 41% a slight increase.
This shows the resilience and growth potential in the e-commerce sector. Only 6% foresee a decrease, indicating strong confidence in the continued expansion of online sales.
At the beginning of the year, DHL revealed top trends in e-commerce for 2024, saying there is a shift where quality and speed are gaining prominence over cost.
Inflation and shipping costs are a challenge
The logistics industry worldwide has been affected by shipping costs in the wake of the Red Sea crisis. Some of the main concerns for e-commerce businesses include:
- Shipping costs: 40% of respondents view shipping costs as the biggest threat to their business.
- Inflation: 38% of respondents identify inflation as their primary challenge, while 60% of respondents will focus on inflation more than other issues for the rest of the year.
What do respondents say about the impact on businesses?
Rising costs of goods and supply chain needs are putting pressure on profit margins. Businesses are forced to find innovative solutions to manage expenses and maintain competitiveness.
Respondents say a key focus for them in 2024 is international expansion. “Over half of the survey respondents(53%) see international growth as the biggest opportunity for their e-commerce business.
This is further supported by their priority markets for expansion, with 43% targeting the EU and UK,and 29% looking towards Mexico and Canada,” reads the report.
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What does DHL survey say on markets and delivery speed?
SMEs are focusing on international growth to diversify markets and reach new customers, leveraging global e-commerce trends for future success.
According to the survey, 43% of respondents consider international delivery speed the most important service benefit from DHL, with 24% prioritizing flexible delivery options.
As businesses expand globally, customs compliance remains crucial, with many SMEs emphasizing the need to streamline customs clearance for market growth.
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About the author
Sharl is a qualified journalist. He has over 10 years’ experience in the media industry, including positions as an editor of a magazine and Business Editor of a daily newspaper. Sharl also has experience in logistics specifically operations, where he worked with global food aid organisations distributing food into Africa. Sharl enjoys writing business stories and human interest pieces.
