CONTEXT:

• For years, online commerce has been the engine of the biggest growth in retail, as Romanians’ shopping preferences have transformed. The market continues to have low barriers to entry, almost anyone can open an online sales site at any time, but subsequently imposes more consistent development efforts on new players, who want to catch up with the established leaders.
• After record increases in the pre-pandemic years, followed by resettlement and then a gradual recovery, digital sales are expected to advance this year by at least 10%, similar to last year. However, the 2024 market will be influenced to a greater extent by the constantly growing competition, especially from strong international players, European brands, but also Asian giants such as Shein or Temu, which have accelerated their rise globally.
• A context in which retailers must make much more serious efforts to adapt and develop, to adopt new automation technologies, AI or personalization solutions, to expand their operations horizontally, but also through new business verticals. Those who cannot move agilely enough risk losing ground, given that inflationary pressures, which affect consumer incomes and retail demand, also require optimizations of internal operations.
• The e-commerce sector in Romania exceeded 7 billion euros last year. The value includes transactions generated in the country – both to domestic retailers and to online stores abroad – of physical products that were purchased via the internet, but not digital payments for services – utility bills, digital content or airline tickets, holidays, hotel reservations, show tickets, etc. – which would raise the total amount to over 10 billion euros.
• The growth potential remains high, given that, in total retail, the share of E-Commerce is about 11%. Market specialists speak of the prospect of a doubling of volumes in the next 10 years.
• For managers and entrepreneurs in the field, the major challenges come from the area of ​​technology, digitalization, innovations that transform the market, but also financing, in a context in which capital has become increasingly expensive.
• They must also adapt to the new economic reality and changed consumer behaviors, but also to the lack of predictability, rising costs, tax uncertainty and problems in international transport, which, over time, are reflected in online businesses and have consequences on the market.
• Regulations and measures taken by the authorities also influence the field, with consequences on the future of businesses.

DISCUSSION TOPICS:

• Evolutions in different market segments.
• Increasing competitive pressure and solutions for local growth.
• Financial challenges for local entrepreneurs in an economic context marked by inflation, supply chain bottlenecks, increased energy and raw material costs.
• Finances available to adapt sales to the digital environment.
• How consumer preferences are changing.
• How you can exit the local market to establish yourself in other countries.
• The problem of returns, solutions.
• Preferences for delivery, changes in courier services.
• Sustainability concerns – packaging issues, transportation, etc.
• Economic prospects of online commerce.
• The technological transformations and innovations that will have the greatest impact on e-commerce in the coming years.
• Expectations for Black Friday.
• Logistics challenges in an increasingly crowded market.
• The impact of new regulations and tax changes.
• How have the needs of retailers and consumers evolved / changed online? Differences by domain / market segment.
• Challenges for the workforce in online commerce.
• How can supply problems be best solved to develop the business?
• How can the online sales channel be effectively combined with the physical store?
• How do you make your product pricing strategy.
• Advice for entrepreneurs at the beginning of their journey, when deciding to launch an online store.
• Challenges for start-ups in attracting institutional investors.
• Process and operations optimization solutions, prospects for AI.
• Innovations and technologies that transform the market.
• Challenges for data and transaction security in online commerce.

LIVE on Profit News TV, www.profit.ro and Facebook.com/Profit.ro