Four in five online sellers believe we will enter recession within the next six months, but 71% remain optimistic about the current state of the e-commerce market.
A survey of 237 online merchants by eDesk found that a third of respondents (34%) are most concerned about revenue in the face of potential recession, with 61% having increased their prices in the last six months.
A further 54% plan to raise prices over the next six months in the face of high inflation despite 36% of complaints from customers focused on the cost of items, up from 24% six months ago, just behind shipping (37%) and ahead of delivery (28%).
Some 53% of sellers expect to see an increase in online shopping over the next six months, and 56% have seen their delivery times affected by supply chain delays in recent months.
The report found also that online sellers are ensuring they are “recession proof”, with almost half of online sellers stating that they will change their current e-commerce strategy and will invest in more tools to protect themselves from market upheaval over the next 6 months.
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Founded as xSellco and rebranded as eDesk in 2021, the company's AI-powered customer service platform is used by thousands of businesses generating billions of dollars of e-commerce transactions every year. eDesk is headquartered in Ireland with offices in the UK and the US.
The survey coincides with the launch of eDesk's Customer View omni-channel product, which brings together customer details, history and support, and follows the announcement of 150 new jobs in Ireland and abroad.
In filed accounts for 2020, signed off by the directors in December 2021, Xsellco Ltd reported turnover of €10m, 30% higher than the previous year. The company booked a net loss of €1.1m, which was inflated by a €1m amortisation charge.
Net cash inflow from operating activities doubled year-on-year to €1.3m, and period end net liabilities amounted to €5.2m
The directors stated that Covid has not had a material impact on the group, and the move towards increased online selling may benefit the group’s revenues in the short to medium term.
The filing noted that the group is largely funded by bank loans which are personally guaranteed by the beneficial owner, Ray Nolan.
"Customer View provides brands with a streamlined and easily accessible view of all customer interactions and their previous purchase information in one place making life easier for agents and creating a much better customer experience," Nolan said of the new product.
Photo: Ray Nolan.
