Ecommerce in the consumer sector is a rapidly evolving landscape, with companies leveraging new technologies and applications to innovate and improve their businesses. The evolution of consumer interaction with online platforms, from estimating demand to enriching virtual experiences, is reshaping the industry. Notably, increasing strategic deals underscore the growing importance of eCommerce in the consumer sector, despite recent declines in patent applications and job postings. Leading companies, spearheading eCommerce adoption are recruiting actively, with the US leading, trailed by Japan, India, Germany, and China. GlobalData’s Business to Consumer (B2C) eCommerce Market report offers a thorough analysis of the global B2C eCommerce market, segmentation and forecast by payment methods and region, and the current competitive landscape. Buy the report here.
This article presents a quarterly round-up of the latest trends in the consumer industry regarding eCommerce. It provides an overview of recent developments in eCommerce-related deals, talent acquisition, and patent filings within the consumer industry.
Diverse applications of eCommerce in consumer industry
Consumer companies in the field of eCommerce are leveraging new technologies and applications to innovate and improve their businesses. One such technology is a generation method that estimates the value of a demand amount based on a data set, allowing companies to better understand customer demand. Another technology is a multi-layer digital asset architecture for virtual and mixed reality environments, which allows for the display of multi-layer digital assets in a digital environment. This technology can enhance the user experience and create more immersive virtual and mixed reality experiences. Additionally, methods and systems for a data marketplace in a fluid conveyance device environment enable the collection and organization of data from industrial devices, providing valuable insights for businesses. Lastly, a pump monitoring system allows for the monitoring of fuel pumps at gas stations, improving efficiency and maintenance. By acquiring these patents, the acquirer will benefit from advanced ecommerce technologies and applications that can enhance their operations and provide a competitive edge in the market.
The industry experienced a 32% decline in the number of eCommerce-related patent applications in Q3 2023 compared with the previous quarter. On an annual basis, the number of eCommerce-related patent applications in the consumer industry witnessed a drop of 30% compared with Q3 2022.
Strategic deal trends in eCommerce in consumer industry
Consumer companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in eCommerce. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of eCommerce in the consumer industry.
In Q3 2023, the number of eCommerce-related deals in the consumer industry declined by 24% compared with Q3 2022. On a quarterly basis, there was 15% drop in the number of deals in Q3 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q3 2023, the consumer industry experienced a 29% drop compared with the previous quarter. On an annual basis, job postings also declined by 30%. Notably, management occupations, with a share of 25%, emerged as the top eCommerce-related job roles within the consumer industry in Q3 2023, with new job postings drop by 30% quarter-on-quarter. Business and financial operations occupations came in second with a share of 8% in Q3 2023, with new job postings dropping by 19% over the previous quarter. The other prominent eCommerce roles include computer and mathematical occupations with a 6% share in Q3 2023, and sales and related occupations with a 6% share of new job postings.
LVMH Moet Hennessy Louis Vuitton, Nestle, Shiseido, Unilever, and JBS are among the top companies leading in eCommerce hiring within the consumer industry.
Countries driving adoption of eCommerce in consumer industry
The US is the leading country in eCommerce adoption within the consumer industry, boasting the highest number of eCommerce-related patents, jobs, and deals. Meanwhile, Japan, India, Germany and China also maintain significant positions in eCommerce adoption within the consumer industry.
In summary, the consumer industry experiences fluctuations in eCommerce-related patent applications and deals, with recent declines in both. Job postings have also dropped significantly, with management occupations being the top roles. Companies like US Foods Holding, Compagnie Financiere Richemont, LVMH Moet Hennessy Louis Vuitton, McCormick, and L'Oreal are actively hiring. The US leads in eCommerce adoption, with the UK, the Netherlands, India, and Germany also contributing significantly to the eCommerce landscape in the consumer sector.
To further understand GlobalData's analysis on eCommerce in the consumer industry, buy the report here.