As we mentioned in our previous article, the retail market is dying and many big players that used to dominate it are finding themselves on a downward spiral says Peter DeCaprio. But we also promised we would shed some light on what you can do about this if your business finds itself part of this sad reality. We start this series by covering the e-Commerce trends that will help you survive in the retail apocalypse.
Staying in tune with your customer’s every move is a way to ensure that they have a good shopping experience with your business when choosing from one of your channels including online, mobile, or brick and mortar stores. This has become a necessity for a successful “OmniChannel” retail experience because customers are not limited to one option when shopping. You’ve probably heard about this term before or even worked with it, but the fact that it’s important for your survival in the retail apocalypse can’t be stressed enough.
Offering additional items to people who have already made a purchase is an old sales technique that has been used for years. We can’t stress enough how important it has become now because an increase in your customer base will allow you to aim the upselling towards a bigger variety of products and services without sacrificing too much of your profit margin.
Getting into a person’s mind is not easy at all, but it’s necessary to understand their needs and wants if you want to provide the best service possible for them so that they buy from you again. We can’t stress how important this is because each customer should feel like your business understands them to the fullest extent. Peter DeCaprio says this will not only prevent people from shopping elsewhere but also increase customer retention.
Foot Traffic Tracking
Although this might seem old-fashioned, it greatly increases online sales by helping marketers get insight into which campaigns are bringing in foot traffic that eventually converts into customers. It enables seeing where people came from, how long they stayed on your page, what items were added to their carts, and more importantly – which campaign was responsible for converting them to customers. You can read more about this here.
Social Media Marketing
When we’re talking about an increase in your customer base, social media is a must because it allows you to reach out and attract new customers that use different social media platforms. This will not only increase your market share but also raise brand awareness which will show people that they should buy from you because they can’t find the product anywhere else.
Content marketing allows marketers to share helpful articles with their audience such as how-tos or news related to their industry explains Peter DeCaprio. It has become necessary for businesses to start using content marketing. As part of their strategy because it’s a way of building trust with prospective clients. By showing them what are you doing in your industry.
Although this is something that has been used for years, it’s still considered an e-Commerce trend. Because of the effortless way in which it can be applied to your business. Allowing customers to share their experiences and preferences. When shopping with you will make them feel like they’re important. And build trust between your business and its target audience. You can read more about this here.
New payment options
With all the security problems surrounding credit cards and how difficult it can be to handle them. Companies would benefit from using innovative new ways to pay such as Bitcoins or other e-payment methods. That might become popular in the next few years. The cashless society is not far away and we should start preparing for it now.
Merging different channels
Although this trend should be used with caution, many companies are starting to use different channels. To sell their products even if they’re not available on all of them yet. For example, you can buy a product online. But choose to pick it up in one of your brick-and-mortar stores or vice versa. That’s why every company needs to have the infrastructure necessary to facilitate. This kind of shopping experience without hindering their business processes by doing so.
Personalized customer service
Managing your customers’ expectations is important because you can set yourself apart from your competition. That way by showing them that you care about what they want. How you can satisfy their needs before they even realize them. It’s also a great strategy for keeping customers coming back. Because they know that you’re willing to go the extra mile to help them out.
The retail market is changing rapidly and that’s why you should be looking for new trends. That can either help your business grow or differentiate it from the competition says Peter DeCaprio. The possibilities are endless but these 10 will give you an understanding. What to look out for when doing research. In order to allow you to make educated decisions when it comes to e-Commerce.
Regardless of whether you read this article or not, always remember that e-Commerce is constantly growing. So there are plenty of opportunities waiting around the corner if you know where to look for them. And please don’t forget, staying up to date with all the latest trends is very important. Because there are always competitors looking to take advantage of every opportunity they come across.