Ecommerce Challenges Technology Can Solve
The pandemic sweeping the globe has altered how the world of business operates in the present.
Remember the scene from James Cameron's film, Titanic, where the ship of dreams was set to sink; however, the band continued to perform with all their strength and determination. Retailers in the present age are like the legendary Titanic band.
The pandemic sweeping the globe has altered how the world of business operates in the present. Those who have turned these bleak days into opportunities are taking advantage of the opportunity.
But, it's impossible to ignore the drop in sales. The steady decline in sales is a cause for worry for retailers worldwide. In the United Kingdom, the National Statistics office report was abysmal. According to the report, the retail sector in the UK is experiencing an increase of 5.1 percentage drop- the biggest drop ever recorded since it was established 30 years ago.
If you're an online retailer, the virus could be a double-edged weapon.
E-Commerce: A silver lining for the retail sector in 2020
It is a known fact that most retail industries were destroyed during the difficult time caused by the pandemic. However, they were not the only ones.
The world of digital has witnessed some of the most interesting shifts. The culture of working from home has engendered the habit of using Google for anything and everyone. People have begun using e-Commerce to purchase items that previously they would have purchased in retail shops.
The entire situation is now an optimistic sign for entrepreneurs in the e-commerce industry, as the lockdown has compressed four years of disruption into just four months from a transformational business and skills standpoint.
Estimation suggests that by 2040, the way shoppers shop will be completely different, and about 95% of consumers will purchase their goods through the internet, and it's the perfect moment for retailers across the world to face the difficulties of e-commerce industry.
Because consumers across the globe are slowly moving to online purchasing, e-commerce has opened up an opportunity for many entrepreneurs.
In addition, those ecommerce sales are increasing quickly. But, as we know, no rose doesn't have a torn thorn!
Ecommerce Challenges in 2022 & Their Solutions
1. Cyber & Data Security
When we speak of the internet, we know that we're putting our security at risk. Being in the business of e-Commerce means that your personal information is in danger, and any glitch in the system could cause serious damage to information that could negatively impact the image of your business.
Be alert and always keep backups of your data. In addition, don't forget to install security software on your site to prevent the site from being hacked. There are a variety of plugins to choose from, but you need to choose the one that is perfect for your eCommerce site.
2. Online Identity Verification
If a consumer browses an eCommerce site, how will you tell if the user is genuine or not? Does the information supplied by the customer correct? Does the shopper show any interest in your product?
If you don't have all of these details is nearly impossible to go further. Although, at times, getting all the information that you require can be quite complicated, that does not mean that you don't need to invest in identification verification online for any potential customers.
There are numerous methods for online verification of identity. Many examples of biometrics AI one sign-on, one-time passwords, double-factor authentication, and others.
3. Attracting The Perfect Customer
Nowadays, customers are bombarded with options. If they're in search of shoes, all they need be doing is do an extensive investigation, and then based on the results of their findings, they'll be able to decide on a final choice. What can you do to ensure they choose you if this is the case? What strategies would you employ to draw the perfect client who wants your product for the price you are offering?
Get in touch with companies in digital marketing that can assist you in reaching out to your clients. Digital marketing, with its excellent methods, can convert your customers into sales. Thanks to technology, specific tests are conducted and based on the results, your product might be displayed to customers on various social media platforms.
4. Customer Experience
The customer experience plays a crucial part in the performance of an eCommerce website. Customers don't wish to feel as if they're visiting an actual brick-and-mortar shop online. It is important to create a warm feeling. Check that the flow of your site is consistent and the product's personalization is in line with the buyer's preferences.
By conducting some research, you can give your customers a pleasant experience. To enhance the customer experience, all you need to do is design an easy and clean site so that users can navigate the site easily. Include the CTA (call for action) on your site, which convinces users to take a specific action.
5. Customer Loyalty
The importance of customer loyalty is crucial for business growth due to the following aspects:
- Staying with an existing customer is more practical than purchasing an entirely new one, as the expense of acquiring new customers can increase by up to five times.
- The success rate when selling products to existing customers is 60-70 percent compared to a mere 5-10% success rate when selling to a new client.
The two points above illustrate how customer loyalty and retention are vital. If a consumer is willing to pay for their product or service, then as a seller, you need to ensure that you keep them for the duration of their purchase. How do you achieve this?
You could employ various strategies to retain your customer. For instance, the speedy service is a huge hit with customers. The second thing you could do is stay in touch with them using emails and SMS notifications. Find out which method is the most beneficial for your client. It is also possible to make your client become a fan of your product before its launch. Use sales-related techniques like special coupon codes to attract them to your product.
For more information on ecommerce website development, contact our offshore software development company. We assist brands in making their mark online and attracting the most engaged customers.