Fast-tracking your Ecommerce Site for post-COVID
The COVID pandemic has affected major businesses off-line and online. Business establishments have suffered a great loss, especially for the non-essentials.
On-line though, through e-commerce sites, there are considerable businesses that have performed very well in their market. Online shopping has been a valuable resort for most consumers.
If you’re a business owner, it is imperative to learn and prepare for the upcoming post-COVID scenarios in your business so you can sustain growth.
There are patterns reflecting responses of consumers to developments in e-commerce sites. Knowing these patterns will give you an idea of how your business can adapt to what your consumers value and prioritize at the moment.
Sales Trends in E-commerce Sites
Luxury brands and nonessentials were the biggest hit sectors. Economic uncertainty has shifted the purchasing power of consumers to essential goods.
Food and beverage and baby products have surged online in e-commerce shops. Toys and games, apparel, jewelry, and electronics are all down because of the uncertainty in the supply chain.
Fear of viral contagion has had an unfavorable impact on the resale market.
Businesses have been grappling with how to continue, including the service industries that rely on in-person interaction. They must prepare to thrive and excel in a world where the way of doing business has changed.
China’s giant Ecommerce service provider Alibaba is not exempted. It has struggled to sustain growth rates because of the economic slowdown caused by the pandemic.
May are still reluctant to go back to their old shopping habits for fear of getting the virus. Consumers are more comfortable and motivated to stay at home and shop online. This is putting a strain on e-commerce sites.
Leveraging Ecommerce Sites for your Business
Recovery from the impact of the pandemic on your business will definitely include preparing for a significantly different next normal in your business operations. Be resilient as you evaluate demand and create plans with flexibility.
The Significant Role of E-commerce During a Crisis
- Ecommerce has played a significant role in mitigating the negative effect of the pandemic on the supply of goods to households. Ecommerce companies keep residents supplied during lock-down periods.
- Ecommerce can help preserve jobs. Even if restaurants can only accommodate fewer customers because of the need for social distancing, online delivery is a valuable and efficient lifeline.
Teachers, consultants, doctors, lawyers, and other professionals also continue to work by utilizing online platforms and e-commerce websites.
- Ecommerce is creating new economic opportunities. With the support of the government, businesses and households can harness the power of e-commerce. Here are things that the government can help with maintaining and securing businesses using e-commerce:
Regulatory bottlenecks and legal frameworks on online remote service delivery should be identified, clarified, and relaxed appropriately.
Governments can help citizens connect with Ecommerce opportunities like expanded service packages for households that are using the internet more intensively, access to online content providers that have un-gated access to their archives, and establishing free online services offered by companies.
Safety measures for e-commerce should be ensured since online scams have surged during the crisis, including online payment.
Governments should work with financial institutions to support the use of contactless payments and provide its citizens with access to pay electronically. Amazingly, it has been reported that 31% of adults worldwide still do not have access to a financial account.
Optimizing your E-commerce Website Post-COVID
As the global community is slowly easing its way towards a new normal way of living, you can take advantage of e-commerce to its full potential for your business as it is emerging to be a key pillar in helping businesses recover from the pandemic.
Show that you Value your Customers by Eliminating Friction
Friction describes any point during a business transaction where customers experience resistance. It becomes a barrier for a customer to complete a purchase.
You can eliminate friction by customizing security for every online customer. Manage friction customers experience by using Kount Control – Account Takeover Protection, which enables personalized customer experience. It filters on particular users to identify attempted fraud, thus stopping credential attacks while helping improve user’s login and purchase experience.
Your loyal customers will stay with you when they know they are safe with each transaction and when their accounts with you are protected.
Prepare a Marketplace Strategy
Even if physical stores are running again, with an e-commerce store, you will still see an influx of demand.
You should be able to adapt quickly to meet this demand and not lose your customers. Adopt a marketplace strategy that will meet your customers’ needs.
Here are some things you can do:
- List on Amazon and eBay or other large online-only e-commerce websites if you’re a brand.
- Launch your own direct-to-consumer channel
- Pilot a marketplace model and invite third-party merchants to sell on your platform
Double down on your Online Presence and Digital Marketing
- Join four of the most popular social media networks – Facebook, LinkedIn, Twitter, Pinterest, Snapchat. People are so into these networks nowadays.
Be active, improve your customer service offering, and engage your audience in relevant ways.
- Create engaging content that fits the interest and answers the needs of your audience. Add videos, images, and other appealing visual content on your e-commerce website.
Invest your time and money in creating a solid infrastructure for your Ecommerce website.
- Use the right automation tools to maintain a constant and reliable presence.
Add Value to Customer Experience on your E-commerce Site
The biggest differentiator among thousands of e-commerce websites is still customer experience.
A solid IT infrastructure, quality support to your customers, and safe payment options streamlined at an optimum will help your e-commerce site stand out and be valued by customers.
Remember that there are thousands of online retailers providing similar services or brands like yours. Customers do not want to risk their data and personal information. They will choose Ecommerce websites with a good reputation.
The increased demand for e-commerce will stay with the new normal way of life after the pandemic. Establish your e-commerce website firmly so that you can handle and meet the demands of each and every customer coming your way.
Fast-tracking your e-commerce investment now will add value to customer experience on your e-commerce site and help you deal with the operational challenges in the coming days.