5 Reasons Why eCommerce Is Important For Your Business
5 Reasons Why eCommerce Is Important For Your Business
The ever-growing beast that is eCommerce:
The rather rapid shift from businesses towards eCommerce is nothing unexpected, with the world becoming more online and connected by the minute, eCommerce was a given to explode onto the scene. Consumer behaviour has been switching to a preference of buying online for many years now and retailers have been responding by increasingly embracing eCommerce methods, digital channels and important touchpoints.
Why your business needs eCommerce:
1. Digital Demand from Consumer
Like we said earlier, consumers are increasingly leaning towards digital channels to achieve their goals, changing the typical consumers buying behaviours for good. 78% of respondents say they have shopped more online since the pandemic, and 86% of those will continue to do so in the post-pandemic landscape, according to research from Retail Systems.
The range of customers who are completely comfortable with online shopping and the eCommerce experience has also increased, with new and infrequent users activity rocketing up by almost 169% during the pandemic (source: Retail Systems), giving businesses and retailers another reason to a growing list that suggests you must invest in ecommerce.
2. Everyone else has already adapted
Taking into account this rapid shift over to eCommerce and online shopping, it’s no surprise that businesses are now taking action ASAP to evolve and enhance their online experience for customers.
The growth rate of ecommerce sales will most likely boost up and outrun physical stores by a staggering 900% between 2022-2024 (source: Common Thread), with the majority of business set on investing into more advanced AI technologies to support their online eCommerce space even before the whole fiasco of the Covid-19 pandemic.
There is no doubt that due to this massive influx of business looking for innovations and ways to fully optimize their eCommerce capabilities that the overall expectation of consumers when visiting online websites is now much greater. Every business is competing at a whole different scale when competing online with an eCommerce store, as you now have a whole set of global competitors who are vying for the same customers that you are seeking.
The technology and assists you choose to power your eCommerce platform are very important for being adaptable and for staying a step ahead of the competition. One great option that is currently out there for businesses is the hiring of an eCommerce Developer who can help you maximize the potential of your business online.
On the Developer Connection website, you can find tailor-made eCommerce Developers who, at a low fee, can sit down with you and make sure your website is functioning in the best way possible and to the highest of standards.
3. Valuable Data
In this day and age, data is at the very base of a successful ecommerce strategy. Through your ecommerce platform, you’ll have the ability to unlock valuable data to gain a better understanding of your audience and customer base, applying this knowledge to mould all new features and enhancements that drive up increased consumer satisfaction and success.
The wide range of available analytical tools, such as Google Analytics, supply you with a substantial amount of valuable insight into consumer patterns and trends, exposing typical pain points and priority user journeys. This allows you to get in-depth and microscopic about any campaigns or tactics that resonate with your audience and that you want to use.
4. Cost Reduction
With an eCommerce platform, you don’t need to worry about the costs of building rent, in-store staff or any other expenses that come with using a premises. eCommerce platforms are a cost-effective alternative, but also a great complement to a physical store if you feel like your business could use both forms of store in tandem with each other.
You should provide useful product and policy information as clear as possible on your site to encourage increased customer self-service, reducing pressure on customer service teams.
5. Revenue Growth
By investing in an ecommerce platform, you can create higher basket values and an increased amount of return website visits by making the buying process of whatever you may be selling as easy and convenient as possible. You can go one step further by capitalizing on relevant cross-selling and up-selling opportunities, drawing from available analytics and data about your customers buying trends and patterns, along with individual customer preferences and behaviours.
When you put a lot of effort and focus into building a pleasant eCommerce experience, you can drive higher levels of customer satisfaction which in turn can lead to more word-of-mouth referrals and thus, more new customers along with the happy customers returning to your site.