Certainly, digital and omnichannel are the standard in retail today. However, the maturity of e-commerce does not mean that it stops there. According to Vlerick professor Gino Van Ossel, competition and opportunities are accelerating right now — from online food to AI, social media, and niche web shops.
Much more than just “mature”
“Today, we see that omnichannel is the norm and that the combination of physical stores and online sales forms the basis of almost every retail strategy,” says Gino Van Ossel, professor at Vlerick Business School and moderator of the RetailDetail Omnichannel & E-Commerce Congress on March 19.
Nevertheless, according to Van Ossel, the sector is at a new tipping point. The spectacular growth figures from the coronavirus period have disappeared, but that does not mean that the market has lost its momentum. “You often hear that e-commerce has become a mature market. That is true, but that statement actually distorts the truth because it loses the nuance.”
Supermarkets unleash new online battle
In the country’s largest retail market, food, the battle is still raging. Online grocery shopping remains relatively limited in Belgium, but competition between supermarkets is intensifying. The competition between Delhaize, Colruyt, Carrefour, and Albert Heijn is also increasingly taking place online. Pure online players are only found in niches, such as meal boxes.
Supermarkets are investing heavily in new models. Click&collect is increasingly free for orders above a certain amount, while subscription formulas and home delivery are continuing to expand. This development is already accelerating in other countries: in the United States, online food sales recently grew again by double digits. “Different business models are emerging alongside each other and everyone expects this acceleration to come to us sooner or later.”
Fashion: specialists dominate online
In the fashion sector, e-commerce presents a different picture than in the rest of the non-food sector. “Unlike many other markets where generalists such as Amazon or Bol dominate, specialists prevail in fashion.”
Zalando is the best-known example. The European market leader is expanding its range, consolidating through acquisitions, and investing heavily in technology. “What Zalando proves is that you also have to become a brand first and foremost online. Especially now that the era of exponential growth is over, as a retail formula you try to be a lifestyle brand.”
During the conference, Laura Toledano, general manager for Western Europe at Zalando, explains how generative artificial intelligence is changing the online shopping experience. New applications such as contextual product images, video, and virtual fitting rooms are designed to increase customer confidence and reduce returns.
Small entrepreneurs still find opportunities
In addition to major players, the conference also brings smaller entrepreneurs to the stage. According to Van Ossel, this is no coincidence: the digital world is still an excellent springboard, an environment where entrepreneurship is still possible.
One example is Drukke Mama’s, a webshop that originated from a Facebook group with more than 100,000 members. Fashion company Les Jumelles also shows how a webshop can grow into an omnichannel brand with physical stores and international sales.
According to Van Ossel, these examples show that smaller players can still find space in a highly competitive market. “It’s interesting to see how they hold their own against big players such as Zalando, against chains that operate omnichannel, but also against Chinese players such as Shein and Temu.”
New technology is changing the playing field
According to Van Ossel, the common thread running through the conference remains clear: the digital transformation of retail is far from complete. In addition to omnichannel and e-commerce, new technologies are also central to the conference. Visa discusses how artificial intelligence helps fraudsters create realistic fake documents — but also how the same technology can combat fraud.
Customer interaction is also changing rapidly. CM.com and Prins Petfoods show how an AI agent can support customers day and night. At the same time, new sales channels are emerging. According to Van Ossel, social commerce, for example via TikTok, is on the verge of breaking through. “There is still a lot of movement,” says the retail expert.
