Ecommerce has been around for a while—so
having an online store is now tablestakes. As we enter 2020, brands are looking
for ways to differentiate themselves and increase their customer base, while
also fighting off the rising competition and cost of customer acquisition.
The traditional “playbook” of ecommerce growth
is as important as ever:
- Brands still need a channel strategy. Do they go into marketplaces first, or consider a direct-to-consumer approach?
- Brands still need a way to connect with their customers—however they can. Email and social media marketing continue to be important.
- More and more people are shopping online. Digital transformation is increasingly infiltrating every facet of retail—from B2C, to B2B, to B2B2C.
- Customers continue to expect more from their check-out and ordering process. 1- and 2-day shipping is now the norm.
But outside of these tried-and-true
strategies, there are other avenues that innovative sellers—in particular, new
brands and direct-to-consumer retailers—are finding successful.
Checkout Enhancements: One-Click,
Payment Gateways, and More
If there’s one thing we know about online
consumers, it’s that they like things to be easy.
The revolution of online retail opened up the
floodgates to consumers—and now more shoppers than ever are buying online.
With this increase in traffic, however, comes
an increase in competition. Online retailers need to meet their revenue goals,
and one factor that often inhibits the sale of items is the number of people
who add items to their cart and then never complete checkout.
Cart abandonment is an increasingly
significant problem, so retailers have found a way to decrease the amount of
trouble a consumer has to go through in order to complete a purchase.
One way they’re doing this is by using
personalization and customization so that their website recognizes a repeat
customer and populates their details in advance—either by having them log into
the site, or by entering their phone number or other identifying information.
Another way that retailers are enhancing the
user experience of a website is by allowing customers to purchase products
using their preferred payment method—going beyond just credit or debit cards.
Now, retailers have the option of a whole suite of payment methods, ranging
from the Gen-Z favorite Apple Pay, through to Venmo, PayPal, GooglePay, and
Sustainability: From Sourcing to Fulfillment
2019 and 2020 saw the unfortunate demise of some of retail’s most-known brands: Forever21, Kohls, and H&M, to name a few.
They all had one thing in common—they were fast fashion brands. Known to rapidly churn out different styles made out of synthetic materials for the sole sake of “catching trends,” these clothing items weren’t built to last more than a few wears.
Fast fashion has a severe impact on the environment, with about 85% of textile waste in the United States ending up in landfills or incinerated. Due to the nature of the materials, they won’t decay.
Read more here:: digitalmarketer.com