E-Commerce growth continues to outpace total retail sales growth dramatically. While larger category leaders tend to dominate brick and mortar retail, e-commerce has lowered barriers to entry and created opportunity for challenger brands to achieve profitable growth. An emerging ecosystem of technologies provides e-commerce brands with more opportunities than ever before to improve customer reach, drive richer engagement and fulfill increasingly higher customer expectations. We have seen technology and connectivity level the playing field for challenger brands, positioning them to beat incumbents in the digital space.
At Summit, we believe in the power of social brands and the strength of marketplaces, and we have witnessed the important difference a strong ecosystem of enabling technologies can make in supporting brand growth. Against this backdrop of increasing global e-commerce spend, expanding social connectivity and ever increasing consumer expectations, we share four key e-commerce trends that we believe are driving outsized growth in the ecosystem today.