According to Harvard business review, “No industry is failing faster than retail.” Even though that statement is a bit of an exaggeration, there is some element of truth to the rise of e-commerce dominance today. In this blog, we will talk about what you should be doing and what to expect in e-commerce during 2019 and beyond.
Spend Time Marketing to Social Media Users
In the past, we have discussed why it was important to keep on top of SEO in order to keep regular traffic coming in. In addition to keeping up with search rankings, it’s also important to reach your audience on social media. According to GlobalWebIndex, Social media usage makes up 33% of all the time spent online. This is about twice the amount of time spent compared to the next runner up – Online TV or Streaming (16%). This means that if you aren’t marketing to customers through social media, you’re missing out on revenue.
Most social media giants like Facebook, Twitter, and Instagram integrate very well with e-commerce web platforms – meaning they can add functionality to your site. Such additional functionality can allow users to see automated adds on their social media accounts that remind them of an abandoned shopping cart in your store.
Discover Utility in Bleeding Edge Technologies
It has been no surprise that since the rise of e-commerce dominance many retailers have started to become showrooms for savvy bargain shoppers who view physical products in a retail store and then simultaneously find the cheapest price or competitor coupons on their phone and make a purchase elsewhere. Shoppers also like seeing what products look like before they buy it and walk into a retail store to window shop.
Showrooming is becoming a huge problem for companies because customers come in and don’t buy anything which translates to a loss in revenue while retailers pay for expensive overheads such as property rent and employee salaries.
Ikea is becoming proactive about this trend by keeping up with their online store functionality, digital marketing, catering to customers by providing a literal showroom in their physical locations and launched an augmented reality mobile application for online shoppers to view how furniture would look in their houses by superimposing product models over the camera view.
Spend Resources on Popular Platforms
Despite the push to empower small business on the web, there are still ways to generating profits with tried and proven methods such as selling on Amazon. According to Statista, Amazon sites are the most visited by US Consumers. E-commerce is also driven by Alibaba, the Chinese multinational conglomerate. Both Amazon and Alibaba compete for global revenues with Amazon taking a slight lead.
Tags: e-commerce, online store, Small Business, small business solutions, web
Find more statistics at Statista