The Future of eCommerce Websites
Lockdowns, high street decline and increased online accessibility are all changing the way we shop. They accelerate the dominance of eCommerce websites. Furthermore, consumer habits and market trends suggest people now prefer shopping on the internet.
With more and more retailers making the move to online selling, what does the future hold for eCommerce?
A Truly Worldwide Market
Online market is not solely dominated by the western world. On the contrary, emerging markets worldwide could account for a large percentage of eCommerce sales. Countries like China, India, Russia and South Africa are likely to translate their economic growth of recent years into the online market. This provides a huge opportunity for businesses to branch out and take advantage of a wider audience.
Increased B2B Activity
Greater online shopping activity allows for more B2B eCommerce sales. This will be especially true in industries such as technology. Companies are increasingly in need of software and digital tools to streamline their manual workload. Automated sales, ongoing subscriptions and self-service will all suit businesses looking to spend less time negotiating with sales reps.
Environmental Awareness Will Impact Buying Decisions
Customers shopping online are more environmentally conscious than ever. The sustainability and carbon footprint behind a product is becoming as important as the cost and quality. In light of this, sellers will need to pay close attention to their shipping and packaging policies.
On-the-go Shopping Will Dominate
Mobile device use now overwhelmingly the most popular channel for digital shopping. This allows customers making purchases whilst doing just about anything.
Businesses must ensure their sites are optimized for mobile use. Consumers now feel safe about shopping on their phones. Therefore, having a mobile-friendly website will result in less abandoned carts.
Video Will Influence Customer Spending
Video advertising allows limitless opportunities for creativity and is increasingly influential on customers. In contrast to information heavy descriptions, product videos are much more likely to catch the eye.
In addition to this, video sharing social media sites such as TikTok and Instagram are no longer simply spaces for ad placements. Using these platforms for shopping has exploded. In fact, they will continue to be a major source of eCommerce spending from future generations.
Find out more about the power of video here.
Individual Customer Targeting
Data driven ad targeting software can home in on which customers are likely to be interested in your product, with almost unnerving accuracy. Businesses are spending more and more on targeted ads across a range of platforms, ensuring less wasted resource is spent on people who are unlikely to buy your product. Identifying particular customers and selling to them online will continue to become even more important.
How to Start an eCommerce Business
All the above points towards a prosperous future for eCommerce websites. Whether you’re starting an eCommerce business, or moving your existing products and services online, now is definitely the time.
Here are some tips and steps to consider before you get started.
Do Your Research
There are a number of existing eCommerce websites and platforms that might be suitable for selling your products. This can be a cheap and easy way to get your products online. If you want to go down this route, research which ones would be most suited to what you’re selling. Remember that the store you choose will be associated with your business.
If you’re looking to sell your goods via your own site, take some time to analyze your current competition. See what they do well and what you could do differently, or better. This can help gain an understanding of where you will sit in the market, allowing you to create a concise business model and digital strategy.
Ensure Your Site is User-friendly
User compatibility is crucial to eCommerce success. There are plenty of cheap and relatively simple templates to create your own webstore. However, enlisting professional help to guarantee your site is professional, functions properly and is capable of handling high demand.
As previously discussed, mobile friendly sites are now crucial, so ensure your site is optimized accordingly for these devices.
Create a Strong Brand
The digital marketplace is becoming more and more crowded. Creating a strong brand identity will not only help you solidify the style and focus of your store, but also dictate the overall user experience you provide.
Know Your Target Audience and How to Find Them
Creating an eCommerce store is just the beginning. In order to attract the right customers, you need to narrow down exactly who they are and how they are likely to find your business. This will allow you to target them directly online.
Ensure Your Business is Lawful
Registering new businesses is vital for legal and tax purposes. Online stores are not exempt from needing certain business licenses and permits. Shipping laws, trademarking issues and other legal requirements can derail your business if not properly adhered to, so make sure you are following the regulations.