Cross-Border Commerce EU Digest #1

Welcome to this new periodic digital format through which we aim to bring fresh and relevant news and insights about cross-border commerce to our growing community.

🇪🇺 EU POLICIES

The Omnibus Directive 2019/2161 has entered into force

The European Directive 2019/2161, which focuses on enforcing and modernising Union consumer protection rules, entered into force at Member States’ level at the end of May. The Directive, also known as Omnibus, amends the following four EU directives to better align EU consumer law with the Commission’s priorities for a green and digital transition. Learn more about the Omnibus Directive

The European Parliament rejected a consolidated text of the Digital Services Act

Most MEPs have pushed back against the version of the Digital Services Act (DSA) that was ‘fine-tuned’ after the informal agreement reached in April. In their view, some crucial parts of the final text were not part of the agreement. Learn more

🗓️ EVENTS

We are working intensely to ensure that the next Cross-Border C-Suite events will be an excellent knowledge-sharing & network experience for everyone. Here's what's on the agenda for next month:

• C-Suite Fashion: 14-15 September, Brussels
• C-Suite Winter: 13-14 October, Brussels

Focus on Cross-Border C-Suite Winter 2022

"If you are interested in expanding your business outside the Nordics, C-suite Winter is the perfect event!"

Peter Kjellberg, CEO, CDON

Cross-Border C-Suite Winter is the invite-only exclusive event that will be held in Brussels on 13 & 14 October, gathering 200 retail executives from top European firms (retailers, D2C brands and marketplaces).

Below are some of the speakers already confirmed:

What happens during a C-Suite event?

Our C-Suite events connect more than 200 European Retail C-level executives & potential partners. The sessions include round tables, panels, debates, networking moments and an awards gala evening with the most relevant partners, brands, retailers & marketplaces.

To get a better idea, watch some moments from the latest C-Suite Spring, which was held in Brussels on 5 and 6 May:

➡️ Hear the feedback of some attendees to our past C-Suite events

How to participate?

➡️ Fill out this form to learn more and submit your interest to receive an invitation

Webinar: How to win the CX battle in Retail (16/6, 2 pm CET)

In this webinar, led by our partner Genesys, we’ll discuss what it means to have a customer-centric strategy and a digital-first approach - and how to improve the customer and employee experience in ways that will impact your brand loyalty and your bottom line. 

The event will also present the case of Electrolux about its journey to transform contact centres into care centres and how an omnichannel connected platform, a unified agent desktop, and AI's power enable great experiences and tangible results.

Save the date: Thursday, June 16th, 2 pm CET

➡️ Register to attend this free webinar

💡 INDUSTRY INSIGHTS & ADVICE

Increasing customer retention in eCommerce

Acquiring new customers is gold for a business; however, it’s also costly. Due to the overwhelming flow of information, customer acquisition is now becoming increasingly expensive and challenging. You may have already experienced this.

Therefore, it's essential to invest in long-term customer retention in e-commerce. According to a study by KPMG, this is the greatest revenue driver.

➡️ Learn more

State of Customer Engagement Report 2022

The acceleration of digital customer engagement in the post-pandemic world shows no sign of slowing down. Twilio, the leading cloud communications and customer engagement platform, spoke with over 3,400 leading decision makers and 4,500 consumers to understand how the global digital landscape continues to expand. The research reveals how organizations can adjust strategies to capitalize on these growth trends.

The State of Customer Engagement Report 2022 reveals that digital customer engagement has significantly impacted revenue by 70% on average for companies that invested in it. Unsurprisingly, these same companies expect to almost double their investment by 2025.

However, the fast pace of change also means that businesses will need to quickly adapt. Personalization is now essential for customer retention and data protection has taken on greater importance amongst consumers. And consumers’ current views on these topics diverge from what companies believe in certain places.

Another major shift to pay attention to Firefox and Safari have already blocked access to third-party cookies, and Google Chrome will do the same in 2023. In the coming “cookieless” world, creating personalized experiences will require embracing first-party data. Going forward, embracing first-party data is not just the right thing to do, it’s no longer a choice.

➡️ Learn more

The future of eCommerce: 5 key trends for 2022

In 2022, retailers need to adapt to meet consumers’ raised expectations - brands that can deliver seamless shopping experiences will reach more ready-to-buy customers. Acceleration in the growth of eCommerce offers some clearcut growth opportunities for retailers but also challenges that retailers will need to adapt to within their selling processes, supply chain, logistics and product offering.

Five key eCommerce trends

1. Inventory and supply chain mitigation strategies - global supply chain challenges have made this a key issue that all retailers will need to tackle in 2022. Implementing a range of logistics strategies and building partner relationships in order to create the business conditions for growth is key.
2. Multichannel selling is essential to compete in the new, effortless economy - to be competitive, retailers need to be present wherever their customers want to shop. This includes not only a strong direct-to-consumer offering but a presence in other selling channels like marketplaces and social platforms.
3. Customer experience is a key driver of growth - convenience is the number one priority for consumers, which means retailers need to make it as easy as possible for shoppers to buy. Retailers need to be able to deliver an optimal experience at every stage of the buying journey, from product discovery through to checkout, fulfilment and the returns process to win the sale.
4. The rise of B2B eCommerce is projected to outpace B2C eCommerce in the next few years, the growth of millennial B2B buyers who expect to self-serve and shop online opens up a whole new channel of opportunity for retailers who can match the needs of digitally savvy business purchasers.
5. Sustainability across the supply & sales chain - consumers are becoming more conscious of the impact of their shopping habits on the environment and want brands to take meaningful action to make their operations more sustainable. This means not only sustainable products but implementing sustainable practices right across their operations, from supply chain through to selling and fulfilment.

➡️ Learn more

📱 Also worth reading...

• Headless commerce vs. traditional commerce
• Redefining what it means to be omnichannel
• Preparing for Gen Z shoppers

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