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The Coronavirus pandemic, however brutal, gave way for the exponential growth of the E-Commerce industry. There were several changes that occurred in E-Commerce over 2019 and 2020, and that should definitely be taken into account for your marketing strategy in 2021.
During the initial worldwide lockdown, the average number of items per purchase increased by 60%, as even essentials had to be ordered in with the shops closed down.
The consumer pool that tried new brands also went up to 44% in the same period, as people tried local brands for quick delivery and supporting their neighborhood businesses.
Over 40% of consumers now feel that ordering online is more convenient than walking into a store. They also felt comfortable using the various E-Commerce apps and sites.
Almost 90% of worldwide shoppers will now choose to buy their seasonal gifts online, instead of at a physical store because of the variety in options and easy return feature.
With these stats, you should gain more confidence in your E-Commerce venture. The main takeaway from them is that you should focus on promoting that you have a wide range of products and services. If not focus on how niche your site is and target your local audience more. The E-Commerce development companies in Chennai are creating marketing strategies that focus on improving brand reputation.
E-Commerce advertising has come a long way leveraging a wide variety of channels to promote the brands, products, and services. With established businesses doing a lot of paid advertising you need to up your game to get organic results.
Over 50% of the results in sites in eBay and other major resellers are sponsored ads that are taking attention away from other sellers.
E-Commerce ad spending increased to 115%, as a lot of businesses popped up, resulting in an increased volume of competition.
You need to put more effort into advertising. At the same time advertising can lead you down a rabbit hole of wasted investment. It is difficult to know what they are from the onset, but take your time experimenting and keep your investments to the minimum. Even advertising takes some time to show results, so show some patience before dismissing those channels you want to avoid.
Earlier the consumer demographic of E-Commerce largely comprised of young adults. The older people stuck to traditional methods of shopping. But during the lockdown, people of all ages were forced to become online consumers, including the elderly and children.
The largest group of online consumers in the US changed from people aged 25-34 years to people of ages 25-44 years.
The amount of online shoppers above the age of 55 has almost tripled by the end of 2020.
People aged 65 and above have started shopping online for the first time owing to the strict pandemic protocols.
If your products and services permit it, then you should try to make a breakthrough in the consumer pool aged 45 and above. Figure out how to make your platform more accessible to them, and easier to use. E-Commerce development companies in Chennai are recommending diverse campaigns to appeal to all age groups.
International sales have improved a lot over the past 2 years. The first half of 2020 alone saw international sales shoot up by 21%. Consumers from all countries are showing interest in E-Commerce vendors from other countries.
Over 34% of online shoppers from the US shopped from vendors outside the USA.
Almost 96% of small popup businesses in the USA have had international shoppers account for up to 17% of their business.
There is a good scope for international trade and you need to tap into this potential. Your site needs to be robust enough to cater to the international crowd offering 24×7 customer assistance, and secure deliveries. Different countries demand different types of marketing, sensitive to cultural, religious, and linguistic diversity.
One of the most alluring deals of E-Commerce was the Free Shipping offered to member accounts, and even discount codes for other customers. Getting something delivered for free creates a sense of cutting a good deal for the customer.
Over 85% of online shoppers, when presented with a choice, chose free shipping over fast shipping.
High shipping costs account for nearly 70% of cart abandonments, resulting in lost conversions.
You should look at offering free delivery, by adjusting your costs elsewhere. If your products are available across the world, you might want to explore tie-ups with a local vendor to offer free deliveries.
E-Commerce development in Chennai is a fast-growing industry that is helping a lot of startups compete with brand names. We at Open Designs are at the forefront of developing new E-Commerce strategies that can help your business get a unique approach to marketing.
FAQ
How can I use customer reviews and testimonials to improve my business?
Customer reviews and testimonials can be a valuable source of information for improving your business. Here are some ways you can use them:
- Identify areas where you can improve your products or services.
- Get feedback on your customer service.
- Learn what your customers are looking for.
- Use positive reviews to attract new customers.
- Use negative reviews to improve your customer experience.
- Keep track of your progress over time.
How should I respond to negative reviews?
When a customer leaves a negative review, it's important to respond in a professional and courteous manner. Here are some tips for responding to negative reviews:
- Start by thanking the customer for their feedback.
- Apologize for any inconvenience or dissatisfaction they may have experienced.
- Explain the steps you're taking to address the issue.
- Offer to help the customer resolve the issue.
- Be honest and transparent about the situation.
- Don't get defensive or argumentative.
- Focus on resolving the issue and providing excellent customer service.
How can I encourage customer reviews and testimonials on my e-commerce website?
There are a number of things you can do to encourage customer reviews and testimonials on your e-commerce website, including:
- Make it easy for customers to leave reviews. The easier it is for customers to leave a review, the more likely they are to do so. Make sure that your website has a clear and concise review process.
- Ask for reviews. Don't be afraid to ask your customers to leave reviews. You can do this in an email, on your website, or on social media.
- Offer incentives for reviews. You can offer incentives for customers to leave reviews, such as discounts, free products, or gift cards.
- Respond to reviews. When customers take the time to leave a review, it's important to respond. This shows that you value their feedback and that you're committed to providing a great customer experience.
- Promote reviews. Share positive reviews on your website, social media, and email marketing campaigns. This will help to attract new customers and build trust with existing customers.
Why are customer reviews and testimonials important for e-commerce businesses?
Customer reviews and testimonials can help, e-commerce businesses in a number of ways, including:
- Increasing sales. Studies have shown that positive reviews can lead to increased sales. For example, one study found that a 1-star increase in product rating can lead to a 5% increase in sales.
- Building trust. Reviews can help to build trust with potential customers. When potential customers see that other customers have had a positive experience with a product or service, they're more likely to trust the business and make a purchase.
- Improving customer satisfaction. Reviews can help businesses identify areas where they can improve their products or services. By taking customer feedback into account, businesses can improve the customer experience and increase customer satisfaction.
- Providing social proof. Reviews can provide social proof that your products or services are worth buying. When potential customers see that other people have had positive experiences with your business, they're more likely to trust you and make a purchase.
What are customer reviews and testimonials?
Customer reviews and testimonials are feedback from customers about their experience with a product or service. They can be written on a company's website, social media pages, or third-party review sites.
What are the future trends in e-commerce analytics?
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- Personalization: E-commerce businesses will use AI and machine learning to personalize the shopping experience for each individual customer. This will include things like recommending products that the customer is likely to be interested in, providing targeted discounts, and sending personalized marketing messages.
- Augmented reality (AR) and virtual reality (VR): AR and VR will be used to create more immersive and engaging shopping experiences. For example, customers will be able to try on clothes virtually or see how furniture would look in their home before they make a purchase.
- Voice search: Voice search will become more popular, as customers become more comfortable using their voice to interact with their devices. E-commerce businesses will need to optimize their websites for voice search in order to make it easy for customers to find the products they're looking for.
- Real-time analytics: E-commerce businesses will use real-time analytics to track customer behavior and make changes to their website or marketing campaigns in real-time. This will help them to improve the customer experience and increase sales.
What are some common mistakes that businesses make with e-commerce analytics?
There are a number of common mistakes that businesses make with e-commerce analytics, including:
- Not tracking the right metrics: Businesses often track metrics that are not relevant to their goals. It's important to choose metrics that will give you the most valuable insights into your customers and your business.
- Not analyzing the data: Even if you're tracking the right metrics, it's important to analyze the data and identify trends and patterns. This information can help you make informed decisions about your business.
- Not making changes based on the data: Once you've identified areas where you can improve, you need to make changes to your website, marketing campaigns, and products based on the data. Otherwise, you're just wasting your time and money.
- Not using an e-commerce analytics platform: E-commerce analytics platforms can make it easier to track, analyze, and act on data. If you're not using an e-commerce analytics platform, you're making things more difficult for yourself.
How can I get started with e-commerce analytics?
If you're just getting started with e-commerce analytics, here are a few steps you can take:
- Choose an e-commerce analytics platform that is right for your business.
- Set up your tracking code on your website.
- Start tracking metrics that are important to your business.
- Analyze the data and identify areas where you can improve.
- Make changes to your website, marketing campaigns, and products based on the data.
What are the benefits of using an e-commerce analytics platform?
There are many benefits to using an e-commerce analytics platform, including:
- Ease of use: E-commerce analytics platforms are designed to be easy to use, even for businesses that do not have a lot of experience with data analysis.
- Powerful features: E-commerce analytics platforms offer a wide range of features that can help businesses track their performance and make informed decisions.
- Scalability: E-commerce analytics platforms can be scaled to meet the needs of businesses of all sizes.
- Cost-effectiveness: E-commerce analytics platforms are typically more cost-effective than hiring a data analyst to collect and analyze data manually.
What is the difference between e-commerce analytics and web analytics?
E-commerce analytics is a subset of web analytics that focuses specifically on data related to online stores. Web analytics, on the other hand, is a broader term that encompasses all data collected from websites, regardless of whether they are e-commerce websites or not. Some of the key differences between e-commerce analytics and web analytics include:
- E-commerce analytics focuses on metrics that are specific to e-commerce, such as sales, conversion rates, and average order value.
- Web analytics focuses on a wider range of metrics, including traffic sources, bounce rates, and page views.
- E-commerce analytics data is typically more complex and difficult to interpret than web analytics data.
- E-commerce analytics is more important for businesses that sell products online than for businesses that do not.
What are the types of E-Commerce?
There are 4 main types of E-Commerce –
- B2B (Business to Business) – Here, a business sells its products or services to another business. In a majority of cases, the business that is at the buying end further sells the products or services to the consumers.
- B2C (Business to consumer) – This is the most common of all the types wherein a business sells its products or services directly to the consumer.
- C2B (Consumer to Business) – This is where consumers sell products or services to the companies.
- C2C (Consumer to Consumer) – This is where consumers exchange goods and services among themselves and make money by charging transaction or listing fees.
What would be the E-Commerce future in India?
By the end of 2021 there will be over 600 million internet users in India. On account of the users, the E-Commerce sector is expected to hit a whopping 200 billion USD by 2026. There are several E-Commerce trends that are making their way online, including smart devices that use voice activated commands to do your shopping on. There has been increased personalization in ads and promotions that has significantly boosted conversions. Much of online marketing will soon be automated, freeing precious human resource from mundane marketing tasks. There is widespread use of AI and VR to enhance customer experience. In 10 years, India’s E-Commerce industry is expected to become the second largest E-Commerce market in the world.
What are the benefits of having a website to your business?
It has come to a point that a business is only considered successful if they have a strong online presence. This is evidently done by creating a dedicated website to the brand. The benefits of owning a website for your business are,
- A credible repository of information on your business
- 24 x 7 customer access to your business
- Boosts interaction with the brand
- It helps expand your market reach
- It improve brand awareness to a global scale
- Provides you with valuable consumer insights
- Helps you beat other competitors with online presence
- Access to all digital modes of advertising
- Makes information exchange easier
What is the difference between website design and website development?
When searching for a web developer, it is important for you as a client to know the difference between website design and website development. The difference is quite distinct but a web developer is capable of doing both if they are skilled enough. Web design is the initial ideation and planning of a website’s layout, appearance and content. Web development is the actual process of developing code for creating the site and its subsequent maintenance. Web design is about creativity, while web development is completely technical. You need to engage the services of web developers who can help you with both, as they know how to recreate your brand personality on the website.
