Ecommerce is a common buzzword nowadays, and it seems that demand for eCommerce has increased exponentially following the pandemic. With a word that appears to be used in so many different situations, what exactly is eCommerce? Simply stated, eCommerce is the act of buying and selling goods over the internet.
Ecommerce has become increasingly popular and is the preferred method of buying and selling for many individuals. Ecommerce sales are expected to cross 1 trillion for the first time in 2022.
So, why has eCommerce exploded, especially in the last two years? Think back to early 2020, when news began to spread about the covid virus and the impending pandemic. The circumstances of the time lead more people than ever to consider purchasing items online and avoiding crowds at the local stores.
Many individuals adjusted to the ease of online purchasing, and although it seems we are through the worst of the pandemic, many people prefer to continue with the shopping habits they formed during the pandemic. In fact, 60% of shoppers say they will increase their usage of online shopping platforms in the future.
Let’s dive into a few reasons why eCommerce is growing so rapidly.
Ease & Convenience
Ecommerce has become the easiest option for many people. Options like curbside pickup and same-day delivery allow an individual to place an order directly from their phone or laptop and receive the item within the same day. Not to mention you can do all of your shopping from the couch or office desk without spending time wandering through store aisles. Online purchasing makes it possible to save time and money in a society that is becoming increasingly more busy.
There is no coincidence that the rise in social media use has occurred simultaneously with the increase in eCommerce purchasing. We are constantly scrolling through paid and unpaid advertising, whether we recognize it or not. For example, you may be influenced by your friend who posted raving reviews about her newest online purchase and head to the site to buy the same item.
Marketing practices have become more and more targeted to each person. We receive advertisements and promotions for things we are more likely to purchase. How easy is it to see an item suggested for you, buy it with one tap online, and see it on your porch the next day? This instant and easy way of shopping is appealing to many consumers.
Instead of choosing from the few options at your local store, you can browse online for hundreds of items. You can’t beat the variety you can find if you purchase online. Ecommerce makes it possible to browse hundreds of like items to find the most competitive and affordable price.
You can also browse thousands of reviews to determine what other shoppers think about the item before purchasing. Ecommerce provides endless options for every shopper.
Simplify Your Website
You want to make it as easy and pain-free as possible for a potential customer to purchase an item from your website. The more steps in the process, the more likely you will have a customer abandon their virtual “cart” and not complete the checkout process. Consider simplifying your website to make navigating and viewing the items easy.
According to Google, as the number of elements on a page rises from 400 to 6,000, the probability of conversion drops 95%. Also, consider adding additional features like Apple Pay and PayPal to make it faster and easier for customers to check out.
Collect Reviews from Customers
Consider creating a plan to collect more reviews from your customers. Online shoppers weigh their decisions heavily on reviews of other online shoppers. Two hundred customer reviews can lead to an increase in sales of 44%. You want to encourage your happy customers to leave reviews for your company and products.
Some companies incentivize customers to leave reviews with discount codes or other offerings. You can promote honest and authentic reviews while offering incentives to your customers who take the time to leave a review. However, remember that the key to receiving glowing reviews all starts with your customer experience and how you treat your customers.
Refine Your Marketing and Advertisements
To generate business, you have to reach your customers. Consider utilizing social media platforms like Instagram, Facebook, Pinterest, Twitter, TikTok, and LinkedIn. Once you determine your target customers, you can decide which platform you should reach them on.
Also, consider paid advertisements. Setting aside a budget for advertising will help improve your search ranking online and drive more traffic to your website. Consider consulting with professional marketing companies if you don’t have much experience in the area.
Streamline Your Fulfillment Process
To make your customers happy, you want to get them the correct item to the right address as quickly as possible. Consider purchasing a software system that allows you to pick, pack, and ship your packages easily.
WarehouseOS is a cloud-based tablet system that will direct you through every step of the fulfillment process while recording key metrics. The key metrics will help you streamline your fulfillment process, increase efficiency, and decrease errors.
Hopefully, this article emphasized the power of eCommerce and the potential for opportunity and growth in the sector. If you hope to refine your eCommerce operation and need support with your fulfillment and warehouse processes, reach out to us at Hoj Innovations today. We are offering a free, no-strings-attached warehouse consultation to provide you with actionable insights to improve your business today. Contact us for more details.
Warehouse expert, Matt Howard, will provide the tips you can implement today to save floor space to better organize your warehouse today.
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