Memo: “Gray Commerce”

Global eCommerce isn’t just about splashy DTC brands or eye-catching platform launches anymore. It’s not about headline-grabbing unicorns or the meteoric rise of new apps — it’s about something quieter, subtler, and, in many ways, more impactful. It’s about the uncelebrated yet steady growth of mid-sized to enterprise-sized online retail businesses, many of which are powered by niche agencies with a keen understanding of a complex new market dynamic. In some circles, this niche is called “gray commerce” — the space between the black-and-white divisions of traditional, domestic retail and the truly, global digital economy that’s emerging.

The Shift to Quiet Profitability

The eCommerce landscape has been shifting in ways that aren’t always visible on the surface. In the years following the pandemic boom, growth metrics have cooled, and the era of easy venture capital ended. We entered a phase where profitability is the new growth, and the companies that thrive are those that have moved beyond the unsustainable chase for scale-at-any-cost.

The spotlight is no longer on DTC darlings with hefty ad spends and thin margins. Instead, it’s the under-the-radar, operationally sound businesses that are quietly expanding their reach, often by focusing on niche markets, specific product categories, or untapped international audiences. Many of these companies are building sustainable, profitable eCommerce operations not by following the loudest trends, but by honing in on the practical, durable aspects of their business. Many of these retailers aren’t here; they’re wherever “there” is. From rising software solutions to notable open-sourced eCommerce platforms to the retailers that use them.

Agencies at the Helm: Facilitators of Gray Commerce

The agencies that are poised to thrive in this environment are not the flashy firms pushing the latest SaaS solution or funnel hack. Instead, they’re lean, adaptable, and deeply integrated with their clients’ operations. These are the agencies that understand the subtle nuances of platform selection, the critical importance of integrating supply chains, and the complexity of international expansion.

Rather than being generalists, the successful agencies in Gray Commerce are specialists. They know their chosen platforms inside and out — whether it’s Shopify for its merchant-first ecosystem, BigCommerce for its enterprise flexibility, or Webflow for unique, design-focused projects. They’re building systems that don’t just scale but adapt, systems that can flex to accommodate shifts in market demand, regulatory changes, and supply chain disruptions.

But what truly sets these agencies apart is their ability to bridge the divide between North American technologies and the emerging opportunities in global markets. They’re facilitating connections not just across borders, but across cultural and operational divides, enabling a new wave of eCommerce growth that thrives in the gray area between established and emerging markets.

Bridging the Divide: The Role of International Relationships

The growth of Gray Commerce is rooted in the ability to bridge the gap between the domestic eCommerce landscape and the untapped potential of international markets. Agencies that have cultivated strong international relationships are at a distinct advantage. They bring an understanding of local regulations, consumer preferences, and the unique logistical challenges of cross-border trade.

Consider the rise of well-known platforms like Temu and the increasing influence of Shein in Western markets. These companies didn’t simply expand their existing models; they adapted them, using social commerce strategies honed in China and tailored to fit Western consumer expectations. The agencies that can help North American eCommerce technologies navigate this kind of international expansion, leveraging insights from both sides, are the ones positioned to succeed.

These agencies are building what I call Gray Bridges — the operational and cultural pathways that connect the domestic market’s appetite for growth with the international market’s untapped potential. It’s not about choosing between black (domestic) and white (international) but finding a way to merge the two into a cohesive, gray strategy.

Platform Decisions in a Gray Market

In Gray Commerce, platform choice isn’t a one-size-fits-all decision; it’s a tailored strategy. Shopify remains a go-to for its ease of use and robust app ecosystem, but for many agencies working in the gray space, it’s about selecting the platform that best aligns with the specific needs of a client’s market and growth trajectory.

BigCommerce is becoming a favorite for businesses that require flexibility and enterprise-level features without the Salesforce price tag. Webflow offers a unique solution for brands that prioritize creative design and storytelling, particularly in markets where visual differentiation is key. The agencies that succeed will be those that understand not just how to implement these platforms, but how to customize and extend them in ways that align with diverse market needs and international complexities.

The Quiet Impact of Gray Commerce

This quieter segment of eCommerce is driving substantial growth, but it’s not the kind of growth that makes headlines. It’s incremental, built on the back of strong operations, efficient supply chains, and an understanding of diverse consumer needs. It’s a departure from the previous decade’s focus on blitzscaling and market share grabs. Gray Commerce prioritizes profitability, sustainability, and adaptability — qualities that are essential as the industry matures.

The agencies leading this movement are those who aren’t afraid to operate in the shadows, away from the hype cycle. They’re not launching flashy marketing campaigns or touting the next big tech trend. Instead, they’re investing in long-term relationships, building cross-border capabilities, and implementing the kind of granular operational improvements that truly move the needle.

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As we look towards 2025, the future of eCommerce growth will be shaped by these quiet operators who thrive in the gray area between the familiar domestic market and the burgeoning international opportunity. The agencies that succeed will be those that embrace this complexity, bridging the gap between different markets and different ways of doing business. They’ll help build the next generation of profitable eCommerce brands not by focusing on what’s loud and obvious, but by mastering the subtle, the nuanced, and the gray.

This is where the real growth lies — not in the black-and-white headlines, but in the understated, consistent work that takes place behind the scenes. In Gray Commerce, it’s not about making the biggest splash; it’s about creating the strongest, most enduring body of work.

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