Splash Digital Ltd

Shopify published the latest Australian Retail Report for 2024 and there’s a lot of solid insight and recommendations worth reading.
The 5 key themes are:
1.The hunt for value from cost conscious consumers
2. Consumers still like to shop in-store - but you do need to deliver a consistent experience wherever your brand is (omnichannel)
3. Innovation with technology is key; not just for delivering customer experiences but also bringing efficiency across the whole business
4. Operational efficiency; staff, supply chain, warehouse and inventory management
5. Customer loyalty; in this market it’s really challenging but you have prioritise this for growth

The one that’s interesting to me is #4.
Because there is a shift in conversation around ecommerce in marketing to profitability.

From ROAS, to contribution margin and MER so that your business is growing profitably.

And for that you also need to be understanding inventory that is slow moving, unprofitable, has high return rates.

Having those feedback loops becomes critical to all business growth.

Operational efficiency isn't just about cutting costs—it's about unlocking sustainable growth.

It's more important than ever to ensure that all parts of your ecommerce business are working together seamlessly to drive success.

How are you aligning customer experience, operations, marketing and brand for maximum impact?