Keeping Your Edge As An Online Retailer


Keeping Your Edge As An Online Retailer

We live in a world that is continually moving toward a digital platform. Everywhere you go, there are smartphones, iPads, tablets, laptops and different methods of online communication. It’s to a point now, that if a business isn’t online, they’re not going to progress successfully. This isn’t because their business model or idea is a failure, but simply that customers now want the instant service. Customers look for products and services that they can access 24/7 from their smartphones. They don’t want to have to actually go out and find a company to work with, if they can access what they need instantly.

In this new digital world, being an online retailer is necessary for growth. You see so many of the big brand names online now, as well as having their standard brick and mortar stores. Technology is changing at such a rapid rate that retailers must keep up with the changing needs of their customers. Of course, not every single shop will move to an online base. People still like to be able to walk into a store on the high street and choose their products off the shelf. Customers are fickle and that is the nature of business that companies must keep up with this behaviour!

Online shopping has made spending cash a lot easier – there’s no secret about it. Ordering takeaway food at 1 am and hunting eBay for the latest bargains into the wee hours of the morning is now more of the norm than ever. People are no longer limited by what the shops sell, meaning that new online retailers and companies can capitalize on this. Online shops never close, and that is the biggest draw for customers. Staying ahead as an online retailer is important and as it’s such an exciting time for ecommerce, being competitive in what you do will keep you ahead of other, similar businesses to yours. So, how can you keep ahead of other online retailers?

Mobile Presence Matters. A lot of small business owners don’t rate a mobile web presence as good value for money in their business, but this way of thinking could be costing them money. People keep their mobiles on them at all time, they scroll through websites and online shop all the time. The thing to remember is the user experience. Customers cannot scroll through your retail website and buy your products if your website isn’t optimized for a mobile user experience. Keeping ahead via mobile can give you an edge over the competition who haven’t optimized their websites. Online retailers should also look at an app, so that their customers can get the best experience possible.

Incentivise. People love a bargain. Remember that time you shopped in the early hours of the morning? It’s probably because the popular hours for shopping and the best bargains are 10 pm – 2 am. Giving your customers incentives like coupon codes with can really increase traffic to your newly acquired website. Once you begin your new app, offer your customers money off their first purchase or free delivery. Doing this will help to spread the word to other customers and bring a huge raise in profits for your business.

Strategize. The biggest strategy you can have for your online store is pricing. You need to be able to offer more for less than your competition. By investing in analytics programs, you can get an insight into how your customers are spending their money. Small companies can learn an awful lot from retail intelligence, and by paying attention to what the customers want. When companies listen to their customers, they can mold themselves to what is needed. Online retailers are always competing with larger retail owners and if you are offering a better price, those budget-conscious customers out there will be drawn to your business. While you’re thinking about prices, think about how much you charge for shipping. Companies who offer a good range of shipping options do better than those who have a standard delivery time. Customers don’t mind spending that little bit more for a next day delivery service and they love companies that give the option.

Businesses that move from solely owning a brick and mortar store to offering an online service will be those who earn more profit and attract more customers in the long run. Companies that don’t make the move online won’t be as successful and that is due to not keeping up with changing trends. Keeping up with the digital world will help your company keep its edge.

Photo Credits: Maxpixel, Pexels

Leave a ReplyCancel reply