The Exponential Growth of Ecommerce

Share This Post

There’s no doubt that the field of eCommerce is growing at an unprecedented rate at present, with more and more startups kickstarting their entrepreneurial journey online. As the pandemic brought conventional business interactions to a halt, barricading the typical brick-and-mortar experience, customers turned to their next best alternative; online stores. This led to a drastic change in customer behavior and expectations from their favorite brands. Businesses had to revert their marketing and sales methods to align them toward the “new normal”. Amidst all this, however, one thing remained constant. The want for experiences. Customers continue to crave for experiences, more so than before.

But, how exactly have things changed?

Customers Prioritizing Comfort & Convenience

One of the main reasons why eCommerce businesses have become so popular is due to the convenience it offers. Consumers are able to order things from the comfort of their houses and get it delivered to their doorstep. The fact that your favorite meal, dress, or electronic gadget is just a few clicks away marks the appeal of eCommerce businesses.

The threshold that brick-and-mortar stores hold is that people are granted the opportunity to physically evaluate the products, to aid in better decision making. But, COVID-19 has challenged it at present, improving the likeness of consumers to do online shopping over in-store shopping. With this, businesses with the scope of carrying out their activities virtually are experiencing an increase in the potential customer base. However, the competition also has steeply increased, prompting brands to prioritize Customer Experience (CX).

The Growing Popularity of Social Media

Social media like Facebook and Instagram are dominating platforms for eCommerce businesses to showcase their businesses and attract customers today. So, what was once a mere gateway for social interaction is now being elevated as a space for business and consumer communities to interact, engage, and trade. With improved tools provided by social media platforms for businesses like the ability to target audience, personalize content, and check the visibility through statistics, social media has proven to be one of the least cost-effective methods for startups to spring to life.

Moreover, the current situation, that compels the public to practice social distancing has allowed for more social networking. Customers are in the hunt for the best eCommerce platforms to fulfill their needs and want today, and one way in which they validate the credibility of their choice is through reviews, posts, and feedback of other customers on social media on a particular brand.

It’s Time Listen to the Numbers

According to data released by SEMrush, eCommerce businesses in almost every industry has experienced a spike in demand over the recent months. While books & literature, hobbies & leisure, people & society, and health are the industries that top the list, many other non-essentials also show an impressive increase, reflecting how COVID-19 has changed how consumers are beginning to spend their free time and engage in hobbies. eCommerce giants like eBay and Amazon also show a drastic increase in traffic to their websites, proving again how consumers are compelled to make the choice of online shopping.

While the statistics present a mammoth opportunity to eCommerce businesses around the world, it also brings a new set of challenges. How do you set yourself apart from other brands? How do you navigate through the immense competition against giant rivals that have already taken a large chunk of market share? This is when CX can help every business set sail with confidence when the rest of the strategies seem to be futile.

Adopting CX to benefit your eCommerce Business

Exceptional customer experience can mark the difference between an exceptional and ordinary brand. So, if you run an eCommerce store, it is important to think of ways through which you can make customers feel convenient, special, and acknowledged. When customers deal with online stores, some of their expectations are a lot different from what they expect from physical stores such as,

24/7 customer support that is prompt and useful
Personalized recommendations and content that suit their preferences
Seamless shopping experience with a user-friendly website and an efficient payment gateway
Omni-channel experience

While focusing on these aspects, brands should also focus on every interaction on the customer journey to provide a better experience for their clients. Ultimately, every customer is looking for a unique experience as they are faced with a mammoth amount of choices. Give them a good reason to pick you!!

eCommerce Success Story: Innovasport

Innovasport is one of the consumers’ favourite sports store chains in Mexico. As other retailers, also they have had to adapt quickly to the rise of online shopping. Together with our experts, they have made significant improvements in online store and in general in their omni-channel customer journey. As a result, today they can see significant increase in customer satisfaction and sales.