According to DHL’s Express’s 2024 Mid-Year E-Commerce Survey, which surveyed over 1,000 US small and medium-size enterprises (SMEs), 65% of respondents are optimistic about growing their e-commerce sales in 2024 compared to the previous year.
This positive sentiment highlights the resilience and growth potential within the e-commerce sector, as businesses continue to adapt and find new ways to thrive in the fluctuating environment. Only 6% of respondents foresee a decrease year-over-year, indicating a strong overall confidence in the continued expansion of online sales.
However, inflation and shipping costs remain a concern, with 40% of respondents saying these are the biggest threat to their business, while 38% identify inflation as their primary challenge. Likewise, 60% of respondents note that inflation is the top issue they will be following for the rest of the year, compared to other subjects like the presidential election, AI regulation and ESG regulation.
Another focus for SMEs this year will be international expansion, with 53% saying this is the biggest opportunity for their e-commerce business. This is further supported by their priority markets for expansion, with 43% targeting the EU and UK, and 29% looking towards Mexico and Canada. International delivery speed was the most important service that DHL offers to 43% of respondents, followed by flexible delivery options (24%).
Overall, SMEs remain optimistic about the potential for e-commerce growth despite the economic hurdles. Download the full survey here.