Modern Business Solutions: Ever wonder how you can transform your retail business into thriving eCommerce Business ? Well, according to google trend data, English citizens still rely on retail stores.
They find it convenient to go into the store and browse for the product. COVID-19 Pandemic forced UK citizens to buy online for their regular needs.
This transition empowered most online small and medium size ecommerce businesses. We are seeing a tremendous surge in e-commerce business in the UK.
More and more people are searching for Modern Business Solutions in order to grow their eCommerce business to the maximum limits.
Last week on 2nd Feb 2021 Amazon released their Financial Results which show amazon has grown almost $386 Billion last year. This data show the ultimate potential of the eCommerce market.
Emerging trends in ecommerce
We have gathered the data of emerging trends in ecommerce and came up with 5 ecommerce trends every entrepreneur should know.
1- Google is becoming No 1 Market Place in modern era
Google shopping is becoming a Modern business solution for most entrepreneurs.
So if you want your product to thrive more You should Optimize your ecommerce for google shopping. This is the most powerful sales channel, and it has an ultimate potential to grow your sales to 60%.
Optimising your eCommerce for Google business will create a PLA (Product listing ad) that will automatically rank top on SERP on Google Shopping Tab when a customer searches for a product that matches your niche.
In a Recent Case study by marketing 360 we have discovered that google shopping helps to boost your conversion by 17%.
2- Power of Social Media
Social Media has Most engagement rate which makes social media a powerhouse for online shoppers.
Many Social media platforms are turning into mini search engines. 55% of online shoppers have bought products directly from social media.
Lots of platforms like Facebook, Instagram, LinkedIn etc are making it super easy for customers to buy from social media. This transition is helping modern day shoppers to buy directly from social media.
3- AR and VR are gaining customer trust
The biggest drawback of online shopping is you can’t view the product until you buy it. This makes it difficult for the customer to decide.
AR and VR are helping to solve this problem by giving access to customers to virtually try on products without physically touching them.
Companies like Warby Parker have launched an app that uses AR technology so customers can try on different glasses before ordering.
E-commerce stores should note how technology is revolutionizing the customer experience and consider investing in these digital systems.
4- Customizable Products
Now who doesn’t like personalisation in this modern era we just love personalizing products, personalizing games, etc. Many Online stores are using this habit as a Headstart for their business.
Many online stores are taking advantage of interactive content like quizzes and surveys to build entirely customized products that cater to each individual’s needs or preferences.
5- Flexible payment options
If you have products in your store which are higher than the average person’s price range, it must be difficult for you to convince customers to buy your products.
Because of the expensive price range they find it as a risky purchase. But if you ask me about one solution for this problem, I will say “Flexible payment options”. You can use channels like Afterpay, Final, and Affirm.
These services automatically break enormous amounts into smaller equivalent payments over several months.
2 Steps Modern Business Solutions
1- Ensure your website is fat and has a better user experience
Over 81% of UK customers research on Online stores before purchase. A fast loading website can come pretty handy in this case. According to research, 53% of customers leave mobile sites. After every second there is a 20% drop in conversion.
Steps you can take to ensure you website speed it on point
- Access your website analyse the loading time of your website. Check for mobile website responsiveness to ease the navigation of your website. Google Test my site Tool allows you to test your website.
- Understand your customer experience on your website. Track your customers journey, collect customers’ data, to understand the customer intention and flow over your website. This will help in optimization of your site. The data will give you the idea what problems your customers are facing.
- Always keep your inventory up to date. Match availability of product and always mention out of stock product “Sold Out”. An un-updated store gives a terrible impact on customers. Using first party data and inventory can be a useful step to make relevant recommendations to your customers.
2- Relate with customer journey
81% of UK Customers Browse through the online store before they make any purchase. 55% Of them used Google Search and YouTube as trustworthy platforms.
Steps to improve experience with customers
- Be available for your customers. Customers love fast responses on their query; they feel quite satisfied with fast responses.
- Engage maximum with your potential customers.
- Increase your loyal customers. Keep your customers satisfied with your services. Use remarketing tools to re-market your old customers.
You can’t just ignore the fact that E Commerce is evolving. There are tonnes of ecommerce platforms where you could make your brand presence and increase your brand awareness online. Social media and a website could be a great opportunity to get leads and make a good ROI.
With these strategies in your hand you will out rank the competition and turn your retail into online emerging business.