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Triggered by the pandemic, online shopping has witnessed unprecedented growth across all categories. This habit will stick as more and more customers continue shopping online. Whether you’re starting with an online store or are an established brick-and-mortar store that’s moving online, the eCommerce platform that you host your store on has a significant impact on your business. No matter the kind of business you operate, the success of your store will depend on the eCommerce platform you choose.
eCommerce metrics essentially serve as a guide to making informed and data-backed decisions. Selling online without tracking your performance is akin to shooting in the dark. The most successful online stores are thriving because they are analyzing their metrics and using them to their benefit. Every marketing or promotional decision of your company should be data-backed to yield maximum results. But not all metrics are valuable and identifying the key metrics will help you in improving the performance of your online store.
Cyber Monday refers to the Monday after the Thanksgiving holiday, which is a 24-hour online shopping event generally observed in the United States.
For people working in Sales, the primary objective is to find new ways for the organization to grow revenue. In this quest, they are so engrossed in attracting new clients, that they often ignore or fail to effectively nurture existing clients. The investment put into customer acquisition far exceeds that of customer retention. Businesses often succumb to the idea that their product or service is excellent to retain customers and they need not put in any extra efforts to retain their existing clientele. However, with the stiff competition in the market, the lack of nurturing of existing customers can prove to be a great pitfall and lead to a product decline.
The eCommerce industry is booming with vendors taking their business online. As an eCommerce vendor, you must be grappling with the choice between dropshipping and marketplace. These terms are often used interchangeably thereby giving rise to further confusion. Being a seller it is important to utilize the best strategies at your disposal to deliver a seamless customer experience. To do so, they must decide between dropshipping and eCommerce marketplace models.
It is estimated that 71% of consumers prefer to conduct queries by voice instead of typing. - PwC, 2018
Gone are the days when customers would be typing in the search box to look for answers to their queries. eCommerce has drastically changed the way people shop online and voice search is one of the most hyped trends of recent times. The rapid adoption of Virtual Assistants like Amazon’s Alexa, Google Assistant, Apple’s Siri, and Microsoft’s Cortana, are great platforms that are successful with voice queries. As an eCommerce vendor, this is something that you cannot afford to miss.
The core benefit of a pre-launch campaign is to create hype around your brand and generate a positive market buzz. All brands today prior to launch create marketing campaigns to generate ample curiosity around their product among the target audience. No matter how exciting or amazing your product or brand might be, you need to sell the concept to the world. Unfortunately, just an amazing product is not enough to get you customers or sell your product right away.
In the last year, businesses have lost $756 billion because of poor eCommerce personalization. (OptinMonster)
Holiday retail sales events are arriving. Customers are gearing up for the shopping marathon so retailers need to prepare their eCommerce site in anticipation of the holiday season. Many people put off buying until the holidays expecting great deals and offers on their favorite items. Be it Black Friday or Cyber Monday, the number of visitors is guaranteed to grow during this time.
With the COVID 19 pandemic, this has been an unprecedented year. While many brick and mortar stores have shut shop, many other companies have filed for bankruptcy. With these uncertain times, many retailers are looking at a particularly dull season this year. On the other hand, some companies saw a boom during the pandemic, particularly the eCommerce stores.
The holiday season is a great time for online merchants. The retailers should be prepared for the increase in online traffic and get their store ready to handle the incoming orders. The holiday season is a very competitive time for online retailers, and if you fail to deliver the desired customer experience or are caught napping, the deal will slip through and land on your competitor’s door.
Each year, retailers rely on the holiday season to make a huge chunk of their annual revenue. While this year might witness a change in customer behavior, it is always prudent to prepare your eCommerce site for the season than be caught off-guard. So what are the steps that you should follow to prepare your eCommerce store for the incoming traffic during the holiday season?
Abandoned carts are one of the worst nightmares for any online retailer. Attracting potential customers to your site, having them select their desired items, add them to the cart, only to have it all abandoned at the last step is a complete loss. In the world of online shopping, shopping cart abandonment is not that surprising. Many customers change their minds when they see the final price and opt to withdraw instead of completing the purchase. Unlike offline stores where customers can be personally catered and nudged to make a purchase, online retailers have to employ other strategies to ensure a lower rate of cart abandonment. Getting customers to your online store, in itself is a difficult process, so you surely don’t want to lose them at the checkout process.
Magento is one of the fastest evolving eCommerce platforms in the world and is the preferred choice of countless online retailers. Some of the largest brands in the world like Nike and Ford have opted for Magento as the eCommerce platform which proves how popular it is amongst the online community.
Once you have figured out the core functionality of your Magento store it is now important to expand the customer experience and increase sales of your business. To do so, there are several extensions available on the Magento Marketplace with the objective of increasing the functionality of your business.
