November was a month filled with engaging meetings and productive conversations. While 2024 may not have unfolded as many had hoped, there are promising signs that the market has bottomed out. Encouragingly, the discussions we’re having now are not just more confident but backed by real substance as we look ahead to 2025.
Since early 2023, many businesses in commerce and retail have pressed pause on innovation. However, it’s evident this approach can no longer hold, given the rapid advancements in technology and the rising expectations of customers and stakeholders alike.
Shopify has largely stood apart from market challenges throughout most of this year, continuing to gain significant market share at the SMB level. The company is now setting its sights on dominating the enterprise market—a bold ambition that, while requiring some compromises in the short term, many believe it has the potential to achieve.
As Shopify progresses toward this goal, we can expect a noticeable impact on future hiring trends across the industry.
Podcast discussions throughout Q4 have centred on enhancing customer experience, with a strong focus on personalisation, loyalty, promotions, and returns—crucial priorities for brands during this time of year.
As we wrap up the year, it’s clear that while challenges remain, there is a renewed sense of optimism and momentum building across commerce and retail. With conversations shifting towards meaningful innovation and a focus on delivering exceptional customer experiences, the outlook for Q1 2025 is increasingly positive. Here’s to a year of growth, investment, and exciting opportunities ahead.
Market Spotlight + Top 5 eCommerce Stories This Month
- Retail Economics & Vinted released research this week showing UK shoppers plan to spend a total of £2.05bn on secondhand gifts over this festive season as pre-loved rise in popularity READ MORE
- Ted Baker relaunched its UK website on 15 November under new operator United Legwear & Apparel Co. (ULAC) READ MORE
- TikTok for Business forecasts record-breaking festive sales driven by a 64% rise in UK live shopping sessions over the last 12 months, with daily sales rising 93% driven by beauty brands READ MORE
- Marks and Spencer expanded its beauty takeback scheme to 100 UK stores as part of its sustainability efforts. Customers can now recycle beauty packaging from any retailer, with over 1.6 tonnes of packaging processed since the scheme’s launch READ MORE
- Ocado Retail will add hundreds of products to its own-brand range next year, including seasonal items. Sales of its own-range items have risen 12% this year, now making up over 10% of customer baskets READ MORE
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