AUGUST - 2022retailtechinsights.com8In My OPINIONBy Fridtjof Berge, Co-Founder and Chief Operating Officer, AntlerThe e-commerce landscape is evolving. From how retailers sell to the way consumers buy, it's never been more convenient and accessible to exchange goods and services online, and during the COVID-19 pandemic, the pace of change has accelerated.From our work at Antler - the global early-stage VC - with companies and founders from across the world working on the forefront of innovation, here are some of the areas where we see the biggest shifts and changes occurring in e-commerce and retail.Gen ZGen Zers are the first generation to not know life without a smartphone or tablet. What has been a device or tool for previous generations is now an extension of these young people with one study finding that they spend up to 10.6 hours a day online. Paired with this generation's values of self-expression, social advocacy, and pragmatism, as backed up by research conducted by McKinsey, young people are buying and selling more online than ever thanks to technological and societal shifts.Just look at Depop, an online sales platform which earlier this month was acquired by Etsy for US$1.625 billion, as a case study. The site which enables individuals to sell second hand clothing and items plays right into this generation's focus on sustainability, creativity and "buying local". Reebelo - a company backed by Antler - is another example. Launched in Singapore in 2019 and already APAC's leading marketplace for pre-loved tech, this startup enables consumers to buy, sell and rent tech devices in a more affordable and sustainable way. THE CHANGING E-COMMERCE LANDSCAPEFridtjof BergeSocial commerce2020 was a huge year for e-commerce as people in lockdown turned to the internet. According to a recent McKinsey report, at the height of the COVID-19 pandemic, 10 years of ecommerce growth happened in just 90 days.During the peak of COVID-19 TikTok grew 553percent. This social commerce movement, whereby consumers are using social media to browse and discover new products and brands, has been dubbed by some as the future of e-commerce. And big brands are catching on. From Gucci to JW Anderson, these incumbents are leveraging the power of TikTok and its new e-commerce features to monetise content to go viral amongst this audience. Social media platforms are now also experimenting with live stream shopping, a trend also fuelled by the restrictions laid out in the wake of COVID-19. Live stream shopping using live video to share products, answer questions, and close sales with customers who are joining remotely to watch, chat, and, of course, buy. The trend has been made popular in China where live-streaming shopping is set to double to US$171 billion this year, according to a WARC Data study.Omnichannel approachesIn response to this rapid growth in e-commerce, brands are increasingly also adopting omnichannel strategies. This is enabling companies to optimize commerce across online marketplaces, social media, and retail supported by new technology infrastructure that creates unified experiences as
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