Online Retailers are taking off due the Pandemic. The Covid-19 pandemic has changed the way consumer shops. Today, eCommerce dominates the shopping landscape, with millions of people ordering their goods online. The trend has led to a vast increase in digital entrepreneurs. However, the shift has not come without challenges for trendsetters eCommerce store owners.
This post will provide insight into the four main challenges e-commerce entrepreneurs face with their online store.
Shopping Trends are Shifting
Today’s fast-paced lifestyle doesn’t gel well with the idea of consumers going out and seeing what they like to buy. The main reason people choose online shopping is that it is convenient and can shop at any time!
The online shopping sensation has made it so convenient for people to order their desired products shipped to their doorstep in a few clicks making life easier for people on the go.
The Booming Growth of Online Retail Stores
Little fascinating facts, By 2021, the number is expected to exceed 2.14 billion. The online shopping trend is growing at such a face pace that hundreds of new businesses are introduced every day.
It does not matter how unique or unusual your products are in the vast universe of eCommerce; the consumer is sure to discover several different online retailers that sell similar products.
These days smartphone devices have made it easier to access whatever product or services the consumer is seeking. As a matter of fact, according to MarketingDive.com:
“Smartphones have become the most popular devices for online shopping, with an 8% gain in planned usage to 56% of North American consumers, per a survey by mobile video ad network AdColony provided to Mobile Marketer. Less than a third (28%) of shoppers plan to use a desktop or laptop for shopping, while only 16% will use a tablet, the survey found.”
The above stats explain why many online retailers and bypass investing a hefty capital into a brick and mortar.
However, the numerous opportunities are accompanied by as many challenges.
What are the Challenges of Online Retailers Stores?
Although establishing an online business has become easier than ever, running an online retailer store can be overwhelming at times. Today, 90% of new online startups fail before it has been 120 days since they started.
Retailers open an online business thinking that they have accomplished the most challenging task, Wrong! The fact remains that the real challenges of owning a business start after its conception.
Let us explore some of the few challenges you can expect when starting an eCommerce store.
Shopping Cart Abandonment
As consumers, we are all guilty of cart abandonment. We surfed online retailers and chose a particular product that we like, then closed the tab without paying for it in the end. When we are attracted to a product a store offers, we will pause with second thought of finding the product cheaper at another store, which increases cart abandonment and creates a weak conversion rate.
An excellent idea to prevent shopping cart abandonment is by implementing an exit-intent tool. The exit-intent device is an advanced technology method that identifies exit behavior and serves a strategically timed overlay with a message that encourages shoppers to stay.
For example, suppose a customer who has already reached the checkout page and displays exit-intent because the shipping costs are too high. In that case, a timely message offering free shipping for purchases over a certain amount might save the purchase and increase the average order value.
Slow or No Traffic
With the boost in Big Tech competition intensity, many small businesses get pushed down and ignored because they lack sufficient advertising.
There are powerful techniques with which you can generate traffic towards online retailer store. Unfortunately, most eCommerce site owners overlook the apparent methods as they may not sound so modern. However, if you apply the following techniques correctly, you will draw the kind of attention that drives traffic to your site quickly and with little stress.
Start re-engaging your customers. Engaging with value customers can bring more business than new users. A single re-engagement campaign like cart abandonment can lead to a 7.17% conversion.
Performing any re-engagement campaign can be a big task. However, browser push notifications can make the task so much easier to re-engage with customers. It is one of the best tools for re-engaging users. Browser notifications are announcements that your website visitors can opt-in to receive to stay updated without installing your app.
Browsers Push notifications can be delivered to your user’s device (mobile or desktop) even when they are not on your website. Browser notifications are sent to users who have opted-in to receive these notifications of a new product or service.
Lack of Customer Engagement
Every brand has a distinct personality. If it doesn’t, then you are performing clumsily. Your brand’s quality should transform into a tone when a visitor interacts with your website. The latest trend today is to provide the personality with compelling content.
Your online retailer store may not have a memorable face, but it will still have visitors who have styles. It is essential to engage the visitor with value. Create appealing content for your viewers. Think of your online retailers site as a community. Displaying your product and services with unique content will attract customers to your doorstep.
Poor e-commerce Site Design
You only have one shot at a great impression! Of course, your website’s look is probably one of the most significant factors in whether or not you’ll be successful. We’ve all stumbled upon a online retailers site, and as soon as it loaded, hit the back arrow. Why? Because the website looked, suspect. As if they’ll steal your credit card number or identity, and you’ll never get what you purchased.
Even though the online store is legit, consumers get anxious when an online retailer site is poorly designed. The goal needs to be to build a big, strong, trusting brand.
Online Retailers Big Challenge: Bad Product Photos
You know the saying, “a picture is worth a thousand words.” Will, it rings genuine when it comes to product images. Some consumers are visual and do not want to read multiple paragraphs; they can determine your product by looking at photos.
You don’t have to hire a professional photographer to take awe-inspiring shots of your store product. If you need better images for your store, it’s easier now than ever to grab your smartphone, set up your “studio,” and start taking photos of your products.
Remember that if they aren’t perfect, you can always take more. Be sure your users can zoom in and see the details. If your product warrants multiple angles or a shot of the back, show it!
Online Retailers Stores: Pricing Is Way Off
An online retailers business is an excellent business for those who are understanding the competition is fierce. If your product pricing is too high, a similar product is just a click away. Evaluate Your Value Proposition
Your online retailers site should immediately and clearly explain the value of its product or service to potential customers. If not, what reason do they have to choose you over the competition?
To boost online sales, you need to step back, look at your product or service and as a retailer ask these questions:
Is the price relevant to product value?
Does it offer quantifiable advantages to those who use it?
How does my product/service stand out from the competition?
Does the product or service go above and beyond solving the consumer (emotional) problems?
Does it fill a gap (that no other product or service can) or fill the gap way more effectively?
The most significant and essential advantage of e-commerce is that it enables a business to reach the Local and Global markets. It caters to local, national, and international market demands, as geographical boundaries no longer restrict business activities. With e-commerce, even small enterprises can access the global market for selling and purchasing products and services.
Retailer Stores Open 24/7
Even time restrictions are nonexistent while conducting businesses, as e-commerce empowers one to execute business transactions 24 hours a day and even on holidays and weekends, which increases sales and profit.