e-commerce Archives

Top Corrugated Packaging Market Trends in 2019

As the volume of global trade and e-commerce sales continues to increase around the world, the corrugated packaging market is has been witnessing significant growth over the past few years. More and more businesses are trying to reach larger customer bases in different regional markets and having a proper logistics network is essential for ensuring safe delivery of goods. Corrugated packaging plays a vital role in preserving the status and condition of goods to be transported by providing extra strength, resilience, and protection against environmental factors. It is expected that the global corrugated packaging market will grow faster over the next few years, primarily driven by factors such as an increase in economic activities in developing countries and the growth of e-commerce industry.

Global Corrugated Packaging Procurement Market Overview

The global corrugated packaging industry is expected to witness a category spend reaching USD 250 billion by 2021, with the spend momentum accelerating at a CAGR of nearly 5% from 2017 to 2021. This increasing spend on corrugated packaging will be primarily attributed to growing demand from end-user industries such as manufacturing, automotive, processed food, and e-commerce. In the e-commerce industry, vendors are using corrugated packages for shipping goods from their facilities to customers. One of the main benefits of using corrugated packaging is the rigidity and cushioning of corrugated packaging material that can ensure products being shipped are safe. Other benefits include higher cost-efficiency and eco-friendliness.

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Top Corrugated Packaging Market Trends in 2019

Do-it-yourself Corrugated Pallets

A growing number of packaging and logistics companies are now opting for do-it-yourself corrugated pallets that can be assembled in-house. Such pallets are an engineered material that does not have any defect, and additional tools or equipment are not required. Consequently, it ensures safe assembly of corrugated packaging and results in cost savings in terms of logistics.

Corrugated Point-Of-Sale Display

There has been an increasing adoption of corrugated point-of-sale display within the retail sector as it offers high visibility at a relatively low cost. Additionally, it can be easily customized and installed at any location in a retail setting. Floor display, counter display, pallet display, endcap display, and sidekick display are the different types of corrugated point-of-sale displays available in the market.

Recycling of Corrugated Packaging

As corrugated cardboard sheets can be easily disassembled and made of recyclable material, companies are putting an effort towards recycling the corrugated packages. Also, by recycling the corrugated cardboard, fibres can be produced and reused for manufacturing of new corrugated packages. Almost 90-94% of corrugated packages are recycled every year.

Corrugated Package for Premium Packaging

Corrugated packaging is finding its way in the premium packaging of expensive consumer products such as perfumes, jewellery, and gift boxes to indicate high cost and quality of the product. Companies are using corrugated packaging for premium products as they are not only cost-effective but also is light and durable. Additionally, it can also be coated with adhesives and undergo treatment to make it flame resistant.

Read more about the top trends for corrugated packaging along with pricing trends, procurement best practices, supplier risks, pricing insights, strategic purchasing, and procurement insights in SpendEdge’s Global Corrugated Packaging Industry – Procurement Market Intelligence Report

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5 Automotive Industry Challenges That E-commerce Can Solve

The digital revolution has presented companies in various industries with a pool of opportunities, and the automotive industry is no exception. Though several players in the automotive sector are venturing into online car sales, the success rate is comparatively lower. The main reason being, vehicles are a long-term investment that people make, so the look and feel factor which lacks in online sales is an essential factor that influences a purchase. However, the automotive aftermarket which is a subset of the automotive industry is predicted to garner greater benefits through e-commerce. A good e-commerce solution can resolve several age-old problems for automotive parts suppliers, manufacturers, and retailers. Here are some of the challenges that players in this sector can overcome with the help of e-commerce:

Enhanced order processing

The automotive industry deals with orders of auto parts that typically comprise a wide range of components and customizations. As the complexity of order increases the likelihood of manual processing errors are also high. To stay in control of product data, companies must build a web store that is linked to their ERP system. This helps to automate processes, simplify them, and reduce the margin of error. The reason being, web store uses your ERP’s business logic and data. Also, It ensures that the information that is fed into your web store is available directly in your ERP.

Seamless information exchange

Automotive industry players who rely on e-commerce can gain real-time access to the inventory information, product details, and client information in the ERP through the web store. This will facilitate both the clients as well as the sales agents to quickly view the order, download the invoice or to track the shipment. This is one the best ways to simplify the company’s order processes.

Simplified product search

Helping the clients find the right auto parts that suit their requirements is one of the key challenges the automotive industry faces. Narrowing down a vast product catalog to find a single part is an excessively time and effort consuming process. If the customers do not quickly find what they are looking for, it could result in bad goodwill for the company in the long run. An e-commerce platform that successfully integrates web store with the company’s ERP allows the online product search to be based on the model, make, and year of the vehicle, rather than the article number. This puts the power in the customer’s hands, giving them ease, flexibility, and convenience in making the right choice.

Reduces payment and shipping errors

Automotive companies have many complex variables to consider with every order, such as special conditions or specifications, payment options, and the shipping requirements. Especially in the case of bulk orders or B2B orders, a lot of custom work can be involved. An e-commerce platform offers the freedom and flexibility to provide all of the necessary options and information during checkout, which facilitates even custom orders to be placed online by the customers. This minimizes the payment and shipping errors that are highly likely to happen in the case of bulk orders.

Promotion of related products

An e-commerce platform presents a myriad of opportunities for automotive industry players to cross-sell and upsell their products and consequently boost the overall sales. With the help of an integrated web store, related products can be linked through the company’s ERP. By doing this, the web store displays the related products to the customers either during checkout or when they’re on relevant product pages.

To know more about how e-commerce can help overcome automotive industry challenges

Strategies to Mitigate Cyber attack and Increase Online Survey Response Rate

Earlier this year, the WannaCry ransomware caused a global outcry by encrypting data and demanding ransom payment to release the files. Many companies across the globe lost sensitive data and information because of such a cyber attack. The ransomware was sent as an e-mail attachment and spread to other computers in the same network. The aftermath resulted in employees taking precaution over clicking links sent to them via e-mails. This may prevent any future instances of a cyber-attack, but it also poses a challenge to an important aspect of digital research, i.e., online surveys.

Here are some solutions to mitigate cyber attack and make respondents fill out the online surveys:

Use Trusted Sources

A malware ropes in their prey by masking the genuine CTA button or a link with a malware link. This can be figured out by hovering the mouse over the CTA button to display the actual link. However, people may not be aware of such solutions and would refrain from clicking on any external links. To get people to fill out online surveys and not worry about a cyber attack, trusted sources can be used as they ensure total security. Using Google Forms, Survey Monkey, Survey Gizmo, and other such trusted platforms is an effective way to provide authenticity and mitigate instances of a cyber attack to gather responses from online surveys.

Send E-mail Notification

Uncertainty discourages people from clicking on unknown links. The sales team can notify the respondents in advance that they would be receiving the survey, making them more likely to participate. An e-mail notification notifies the respondents about the objective of the survey and the requirements out of the customer; therefore, providing credibility to the actual email.

Brand E-mail and Survey

The look and feel of the email makes a difference in people’s perception of authenticity. Properly branding the e-mail, the subject line, sender address, and survey gives the feeling that the survey is coming from a reputable source. Respondents will be more likely to fill out the survey coming from a reputed source.

Personalize E-mail Invite

E-mails addressed by the name such as “Dear Mr. John” instead of “Dear Customer” feel more authentic and personalized. A personalized e-mail also makes the respondents feel that they know the sender, so they won’t be hesitant in clicking the link to the online survey.

By following these steps, a researcher can ensure a higher click rate for his/her online survey. It is necessary to reflect authenticity to the respondents and mitigate a cyber attack to gain higher response rates.

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Devising SCM Strategies the E-commerce Way

Do you have a really good e-commerce business plan with all the nitty-gritties chalked out to the T? But, wondering what is the key success element in your well-thought business recipe? Well think no more, we’ve got you covered! Read on to know how supply chain management can be your secret success ingredient.

E-commerce has brought in a whiff of fresh air in the traditional brick-and-mortar format of retailing, changing everything right from the way consumer packaged goods (CPG) are sold to the way consumers shop. E-commerce or Electronic Commerce can be defined as a marketplace that allows individuals or firms to conduct business over an electronic network like the internet. Operating in four market segments namely as B2B, B2C, C2C and C2B, e-commerce is one of the most cost-efficient business models that has the ability to compete with not only those who encompass in the e-commerce radar but even those who operate under the purview of the traditional market.

What makes the e-commerce business model work is that firstly, for the customer, it offers a high level of convenience and selection in terms of product assortment and shopping within the comfort of their homes at any point of the day and secondly, for the retailers, it eliminates major fixed costs associated with the brick-and-mortar model. However, just as every coin has two sides, this business model too has a few flaws and challenges that are listen herein,

No instant gratification for customers as once they place an order, they have to wait for the product to be delivered to the address.
Minimal customer service and little or no interaction with humans is a big challenge.
Inventory handling is a challenge to both the newcomers in the industry as well as the established players.
Consumers cannot touch and see a product, hence the level of trust among consumers is low, thereby hindering the online sales of many products.

These lists of risks and challenges are an accepted reality of today’s fast paced ITES scene. Consequently, in order to be successful in the e-commerce world, businesses need to adopt a leaner and efficient supply chain strategy to overcome these roadblocks. Right from production to assembly and the final delivery to the end-user, everything and every product requires a different logistics management approach. This is exactly what supply chain management is all about, making it the backbone of electronic commerce.

Devising SCM Strategies the E-commerce Way

When consumers make an online purchase from a particular e-commerce site, there are several factors that are taken into consideration right from the way the product is manufactured, designed, distributed, delivered and supported by the seller. There is a direct relationship between the performance of supply chain of a business and customer loyalty, as the orders are relatively small but the complexity lies in order fulfillment and delivery. The major players in the e-commerce space use the services of third parties who have the necessary experience to help bridge the gap between the customer’s expectation and the actual business performance. Other than these, businesses should focus on the platforms that are responsible for driving sales and optimize these platforms to enhance customer experience. Vendors in the electronic space have turned to a more integrated approach across all mediums, giving birth to omni-channel retailing that combines the advantages of brick and mortar stores with that of e-commerce and m-commerce to enhance value. Last but not the least, a flexible and responsive supply chain is essential to create a sustainable competitive advantage and to cater to the constantly changing demands of the market.

SpendEdge can help companies draw insights and help bridge the gaps in procurement and sourcing, thereby devising efficient supply chain strategies to build customer satisfaction and profitability.

Tag: e-commerce

Top Corrugated Packaging Market Trends in 2019

Global Corrugated Packaging Procurement Market Overview