Any other business: 12 June 2020

This week’s AOB looks at Europe’s booming cross-border economy, a new payment platform for content creators, and how a candy brand has benefited from moving online

During the lockdown, many experience-based businesses have adapted to reach customers online – from virtual bars and online festivals, to personal training sessions held on Zoom¹. Now, a new digital payment platform is helping these creators – many of whom are self-employed – to monetize their content.

Fundi’s² founder Chris Neff says the app is for “people who are used to doing things in the real world that now have to leverage that following and figure out how to do things online.”³ The app uses live-streaming platform Twitch⁴ and the payment app Stripe⁵ to host an on-screen interactive sticker which users can click on to donate towards their classes, in real-time.

Lockdown has given live-streaming an opportunity to flourish – the sector grew by 45% between March and April 2020⁶, driven by consumers keen to continue at least some of their previous habits. Yet, for many experience-based businesses, the move into e-commerce has been a challenge. Read our article, Experiential e-commerce: How real-life experiences are moving online, to discover some of the innovative ways they’ve adjusted. 

Cross-border e-commerce in Europe represented a turnover of around €108.75 billion last year, according to a new report⁷ by Cross-Border Commerce Europe – an increase of 14.4% over the previous year. The cross-border share represents 23.55% of total online sales in Europe.

Expanding your e-commerce business to an international audience can drastically increase your sales  – in fact, retailers who offer premium international shipping grow 60% faster than those that don't. Customers shopping cross-border typically have a higher average basket spend than domestic, too. Our free E-commerce Country Guides are full of advice to help you make the switch. 

Fashion fans searching for unique and ethically-sourced products should look to a new fashion e-commerce start-up. Online marketplace platform Store251¹² helps Ethiopian fashion designers – both new and established – to reach customers around the world. The concept of selling online was new to many of the designers, but over time, the platform has established its reputation with many local suppliers. Store 251 is now delivering in North America and some European countries, with plans to collaborate with other African designers too.

A confectionery brand in Singapore has boosted its revenue after selling online for the first time during the pandemic. Candy House¹⁰, which is the country’s leading supplier of pre-packaged popcorn and candy floss, traditionally sells its products in its physical retail store. Yet, with the onset of COVID-19, it diversified its retail strategy and began selling on Shopee¹¹. Its sales on the e-commerce platform now make up more than 80% of takings.

Candy House is one of the millions of SMEs making the move to e-commerce to reach customers during the lockdown. If your business is one of them, read our guide: Tips for your Web Store during COVID-19.

Streetwear platform NTWRK⁸ is drumming up excitement amongst Gen Z-ers for its upcoming style and culture festival, ‘Transfer'. The virtual event will let attendees shop from 30 brands and artists pitching exclusive products across NTWRK’s distribution channels. There will also be panel discussions, interviews and a live DJ set.

The urban-culture brand is hoping to attract over 240,000 shoppers and 10 million viewers to the event which will be shown on its app and social media channels on July 28 and 29. The activation is “a new idea generated specifically for the current landscape we are in today”⁹ says Aaron Levant, NTWRK’s CEO. The brand is one of many exploring new experiential e-commerce opportunities during the pandemic.