WHAT GOOD ECOMMERCE CAN DO FOR YOU
Let’s be honest: who still shops at the mall nowadays?
eCommerce has come a long way since it first appeared in our lives. Remember before stock exchanges transitioned to the Internet? Remember how you wouldn’t give away your credit card number online? Remember when Amazon was only a small online bookstore?
Well, those days are long gone. Now most transactions are made over the Internet, and a big slice of those are purchases and sales—in other words, eCommerce.
For 2021, Statista gives a 19% share of the retail sales to eCommerce worldwide. That’s more than CA$5 trillion! With a steady growth of about 10% per year in the last decade (and a whopping 30% growth rate during the 2020 pandemic lockdowns), eCommerce is slowly penetrating all markets, across all borders.
With category webpages, who needs display shelves?
With customer reviews, who needs floor clerks?
RETAIL HAS NO NEED FOR BRICK ANYMORE
ECommerce has changed a lot in our buying habits.
Business is now often conducted 24/7. People will read reviews and compare prices for the same item in different stores before buying. And getting second-hand items from strangers has never been easier.
The night owl in downtown Toronto can open his food delivery app and get his favorite ramen at 2 AM. The elderly widow from rural Ontario can go online and have her new furniture delivered the next day without breaking a sweat. All with free shipping if they subscribe!
A decade ago, perhaps some retailers could still afford to do without eCommerce. But now, it’s a force that can’t be ignored. The option to shop online has disrupted the retail and wholesale landscapes completely, forcing vendors into changing the way they do their business.
Almost anything can be purchased through eCommerce today.
What’s more, for businesses that sell a service or a digital product, having a physical store has now become an afterthought. If it’s not tangible, the customer just pays and downloads. The Internet is all you need!
ATTRACT NEW CUSTOMERS (AND KEEP THEM)!
- Business to Business (B2B): when businesses sell goods and services to each other. Known examples of third-party B2B platforms would be Shopify, BigCommerce or Magento, although plenty of businesses still have the more direct supplier/buyer system set up with their bank.
- Business to Consumer (B2C): when businesses sell goods and services to individuals. Most retail stores have such a platform built within their website nowadays, where every customer has an account allowing them to fill their cart.
- Consumer to Consumer (C2C): when individuals sell goods and services to each other. eBay is the prime example of this type of digital marketplaces, since it has been around for a while, but you can also think of Kijiji or Etsy.
- Consumer to Business (C2B): when individuals sell goods and services to businesses. This is when a high-profile customer, such as influencers and celebrities, will show interest for a product or brand and bring it to their audience’s attention in exchange for a fee.
5 TIPS TO GET PEOPLE TO LOAD THEIR CARTS
Here’s how you make sure that people get all they need and proceed to checkout:
- Make online shopping a fun experience with a website that uses gamification techniques;
- Set up a chatbot that engages visitors and redirects them to a human agent if needed;
- Show similar and often-paired products before proceeding to checkout;
- Leverage data analytics to predict cart abandonment;
Whether for a heavy-lifting B2B system made to crunch the big numbers of your supply chain, or a compelling, easy-to-use B2C shopping platform, your can trust EMPOWER to take care of your eCommerce needs.
When it comes to eCommerce, our EMPOWER experts have what it takes to deliver. We will:
- Develop the eCommerce ecosystem best adapted to a business
- Design, set up and manage an eCommerce website
- Design, set up and manage presence across online marketplaces
- Monitor customer behavior and analyze data
- Strategize online shopping experience for maximized results
Get the EMPOWER treatment now. Sit back and watch as we set up your eCommerce solution!