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Shopping Cart Abandonment: A Challenge for E-Commerce

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Archives, Global Logistics, Global Trade Daily, Uncategorized, Warehousing

Shopping Cart Abandonment: A Challenge for E-Commerce

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Unfulfilled shopping carts are rampant in the retail industry and represent a significant source of additional revenues. Too many sales are left pending due to the lack of a smooth process and relevant options presented in real-time to the consumer. To “tighten the weave” of these abandoned sales, retailers need to manage unique and omnichannel baskets. Here is an analysis of best practices.

According to Baymard Institute, 55-75% of initiated shopping carts are abandoned. Despite these statistical findings, shopping cart abandonment is not fatal to retailers. Retailers like Cultura and FNAC have been demonstrating this for several years with a dynamic, 360° approach to their customers’ selections. Their strength? Ensure an overall view of the product selection and associate additional offers and advantages in real-time, regardless of the customer channel (at home, on the move, in-store).

Distributors: Aim for the Top!

“This ‘seamless’ connection between physical and digital channels is the first prerequisite for better basket completion” explains Philippe Petit, product marketing manager at Generix. “The second element relies on the retailer’s ability to analyze, in real-time, the nature and value of products, and to trigger personalized offers in correlation, which improve customer satisfaction and the retailer’s margin.”

According to a study by AB Tasty, a personalized e-commerce customer experience can increase the revenue generated by 15%.

To turn this promise into reality requires a software suite capable of transforming “static” shopping carts into dynamic allies for retailers. “Omnichannel Sales ensures this mission by integrating ‘sales gas pedals’ that offer customers discounts, additional products, advantages or loyalty points depending on the products they select,” says Philippe Petit.

Golden Rules

1. A high-performance shopping cart is unique, omnichannel, and seamless

2. It is managed in a personalized, contextual, and real-time manner

3. It is a customer relationship and satisfaction tool

4. It improves sales, margin, and loyalty

The customer in search of omnichannel fluidity

Consumer journeys are made up of constant back and forth between several spaces (physical and digital), several terminals and several moments (information searches, price comparisons, analysis of comments, delivery conditions, etc.). In networks that combine in-store and online sales, too many baskets turn into a trap, due to a lack of management that is in line with this “mosaic” of expectations and behaviors.

There is also the case of franchised stores, which do not always have the same management systems as branches, resulting in a discontinuity in customer relations. In marketplaces, the rate of completion of baskets varies greatly depending on the costs and delivery conditions of each supplier.

The unified basket, a factor of recurrence, recognition, and valuing of customers

“The absence of a unified shopping cart, managed in real-time, penalizes the brands. Between two distributors that are apparently equivalent, customers always choose the one that offers them the most simplicity and recognition,” continues Philippe Petit. To reverse this trend, Generix Omnichannel Sales aggregates data into a single basket, thus freeing retailers from the problems of re-entering or merging files.

The solution integrates the entire spectrum of information including the basket (items, value), the customer journey (physical and digital), the transaction, promotions, loyalty, and history (recency, frequency, value). This makes consumers feel known, recognized and rewarded for their loyalty. “This is a strong element of differentiation, with a purchase act that is supported from start to finish, regardless of the channels and paths,” emphasizes Philippe Petit.

The statuses can be configured (pending, abandoned, or canceled). The customer, the sales advisor, and the after-sales service can find, in real-time, the shopping cart created via an e-commerce site, a wish list prepared on the phone, an order placed on a salesperson’s tablet.

The retailer can create and instantly distribute discount codes sent by SMS, encouraging consumers to go to the store or online. Omnichannel Sales even offers web services for VAT processing and legal collection of shopping carts generated via a salesperson’s tablet or an in-store kiosk.

According to a study by OpinionWay and iloveretail 48% of French shoppers use their store while in a store.

Clear and efficient returns management: An important decision factor for e-customers

Returns are the third most important decision factor for e-customers, after price and delivery terms. The clearer the brand is on the conditions of return (deadlines, logistics), the more it encourages customer trust and commit to purchasing.
“Generix uses the complete information of the registered baskets in the case of a partial or complete return of a purchase”, underlines Philippe Petit. Whether it was generated in-store and/or online, the single basket kept in Omnichannel Sales facilitates the management of returns, with the same level of information whatever the origin of the order (mobile, web, store, call center, etc.).

Generix hopes to eventually offer an analysis of the reasons for basket abandonment, whether it’s due to a product line’s pricing policy, an over cost between the product’s value and its delivery cost, or a lack of clarity on the return conditions. The result is a significant reduction in the number of unfulfilled shopping carts in consumer e-commerce.

As omnichannel-driven demands become the norm, with resulting customer satisfaction harder to achieve, supply chain professionals need to leverage advanced WMS technology to keep their operations nimble, efficient and scaling – especially in these volatile times. Given Generix Group’s completeness of vision and ability to execute, as recognized once again by the Gartner analyst community, their Solochain WMS is well-positioned to help companies needing a modern, flexible and agile solution that can easily adapt to their changing needs. We invite you to contact us to learn more.

This article originally appeared here. Republished with permission. 

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Archives, Commentary, Global Trade Daily

Boosting Checkout Conversion Rates: Tips for Businesses Chasing E-Commerce Success

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A customer clicking “pay” means the sale is pretty much a done deal, right? Not so fast. What if that final step isn’t actually a leap towards revenue? What if that transaction stumbles at a final hurdle? In this increasingly global landscape, the lack of payment method options is causing exactly that misstep for e-commerce players.

The general theory is that e-tailers expect checkout conversion rates greater than 80% once a consumer has selected the product or service, entered all their personal details, remained on the site, and then try and pay. In reality, nearly 50% of online shoppers say they will abandon a purchase at checkout if their preferred option is not available. This means that the actual conversion – and therefore revenue rate – is far less than 80%.

Amid a pandemic-induced shift to online transactions, consumers now have a stronger sense of what they want in terms of ease-of-use, customer experience, communications, site aesthetics, fulfillment, and everything in between. Consumers expect their e-commerce experience to have been tailored specifically for them.

Accessibility to locally preferred payment methods (LPMs) forms is just one component of this, albeit an important one. E-tailers, as well as payment companies servicing e-tailers, need to ensure that all aspects impacting the customer experience are optimized if they are to truly capitalize on the global e-commerce opportunity in front of them.

The conversion rate conundrum

While it is clear that the user experience is having a direct impact on cart abandonment, it seems that this isn’t translating into action. According to statistics, the global average cart abandonment rates are between 60% and 80%. In fact, companies looking to sell to consumers from different regions across the globe can miss out on 77% of their potential business if they don’t accept LPMs, as more than three-quarters of all global e-commerce purchases are made using them.

At first glance, this is obviously a concerning rate of abandonment. But in the context of the wider e-commerce landscape, it’s potentially disastrous. When COVID-19 hit, e-commerce in the US alone experienced 10 years’ worth of growth in just three months. In Europe e-commerce revenues saw an increase of US$71bn year-on-year, leading to predictions that 2021 would see another revenue jump of 30%. That’s not to mention Asia, which now accounts for nearly 60% of the world’s retail sales online.

With 53% of people surveyed by UNCTAD saying that they intend to continue shopping online after the pandemic ends, this initial shift is now a long-term proposition and those initially lost conversions i.e. sales, reflect the possibility of a much longer-term problem – especially if your competitors have reacted quicker to these trends and demands.

How can businesses increase sales in any market?

To begin with, there needs to be an intention to understand and acknowledge the new consumer climate and what they expect in the post-pandemic world. From a global perspective, LPMs form a large component of this demand.

However, it is critical to keep your global offering locally relevant. For example – don’t offer US preferred payment methods to Asian customers or UK preferred payment methods to Indian customers. Ensure that an LPM is relevant for the market and customer base and where relevant, give them a couple of choices. More than that, showcase those accepted payment types. Old payment method logos could lead to mistrust. And on that same issue of ‘trust’, instilling confidence early on by informing customers how they can pay before they actually reach the payment page, will lead to increased conversion and basket sizes.

Additional tips for fostering a better consumer relationship and ensuring improved conversion rates include aligning the language on the payment method page to the language your customer has been shopping in; providing small information bubbles for each payment method option so customers can make a more informed choice; and make sure to show your trading name on the payment method, as customers won’t necessarily be familiar with your legal name.

Plugging in and partnering, not going it alone

These small and simple gestures may seem insignificant, but they can make or break trust with a consumer. However, what is not simple, is the level of digital transformation required to bring these value-add propositions to the table. With ‘transformation’ being the keyword.

Integrating – and then managing – local payment methods are costly, complex, and time-consuming – often taking as long as a year and can cost more than $1 million to integrate a single LPM to existing infrastructure.

Embedding the tips highlighted above requires a quality, multi-faceted infrastructure. Each LPM brings with it unique funds flow, compounded by numerous operational, regulatory, and legal complexities. That is why many brands are leveraging partnerships to expedite their speed to market and reduce costs versus building in-house.

By outsourcing a local payments infrastructure, businesses can integrate LPMs faster, which addresses the customer’s needs more rapidly hence increasing revenue and could also provide a competitive advantage. Partnering with a dedicated provider of LPMs will also enable deeper and more expansive access to consumers in different markets; the option of the provider managing the entire funds flow for each LPM on behalf of the business tapping into it, and additional monitoring and optimization services to get the best conversion rates for each LPM.

Businesses that leverage a local payments infrastructure can rapidly and cost-effectively tap into the global audience that awaits.

By putting this service into your basket, consumers are more likely to pay for what they’ve put in theirs.

_____________________________________________________________

Claire Gates is the Chief Commercial Officer at PPRO

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Archives, Global Trade Daily, Special Reports

How E-commerce Websites Can Successfully Integrate Video Production In their Digital Marketing Campaigns

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Video is an enjoyable, easy-to-digest, and often, overlooked content creation strategy that converts better than any other type of content.  A landing page containing a video is bound to increase conversion rates by 80%. In addition, videos help search engine rankings and are shown to raise organic search traffic by 175%.

With the tremendous growth of e-commerce sales in the past year, brands are challenged to up their marketing strategy and create new ways to attract potential customers.

Companies that offer products online and haven’t yet started video marketing need to jump on the video production train right away.

E-Commerce State at a Glance

E-commerce rules!  In only the past year, it has generated 4.28 trillion US dollars in revenue. In the U.S only, that accounted for over 604 million US dollars.

Naturally, that drives the increase of digital shoppers as well. It’s estimated that by the end of 2021, there will be 2.14 billion global digital buyers.

It’s safe to say that we are in the era of online shopping. A time when consumers prefer to quickly browse products and services on their mobile devices and place orders that they receive the next day – no hassle, no time wasted.

For e-commerce businesses, the move towards primarily online shopping raises the bar of what counts as a good customer experience.

Simply listing your products on a website doesn’t do much for conversion anymore. There’s a need for more interactive, immersive, and truly helpful product content online. Brands have to figure out how to turn their boring offerings into entertaining story-rich experiences.

One very successful way to do that is through video marketing.

How to use video in your e-commerce marketing

Check out these tips on how you can integrate video production into your e-commerce websites and improve your brand’s bottom-line:

Product Photos Turned Videos

Put yourself in the shoes of your customers. How do you know if a product will match your needs and desires?

You would want to see it in real-life situations. A great way to show your customers how products truly benefit them, is by displaying how they look like or work in practice.

Take the clothing retailer Mother. The fashion brand goes far beyond a simple display of products and visually describes in the tiniest detail how their products look and feel in real-life situations — like walking on a treadmill for example.

Customers get a unique 360-degree view of what the products worn by a real person would look like. Not only that but they show how the clothes move when you wear them.

An awesome example of user experience taken to the next level.

How-to Product Videos

The next step in improving the quality of your e-commerce website is through creating instructional videos that show users how your products work.

These videos educate customers and help them see the value of your product. Plus, “how-to” videos are a great way to help out customer support teams.

People will have clear, visual instructions on how to use the products and will save time and frustration trying to figure it out or wait for help from your support team.

British Airways gives a great example of how you can turn instructional videos into entertaining pieces of content.

Their video features a number of celebrities to draw attention to an often overlooked but quite important aspect of traveling on airplanes.

Celebrities may not be an affordable option for any brand, but their approach can be adapted to deliver a fun and entertaining how-to video for your e-commerce business too.

Behind the Scenes Video: Let Customers be Part of the Action

What will really make your audience connect with your e-commerce business? Well – feeling connected to the mission, challenges and glam of the brand is a great place to start.

Being able to walk through your process and daily tasks, your audience will understand the efforts put into delivering an unforgettable product and experience on their behalf.

It will help show the “human” side of your company – the people that make their experience extraordinary.

For example, take a look at how Glamour Magazine takes their viewers behind the scenes of a photoshoot narrated by their Fashion Director– Natalie Hartley. She guides the audience through how their projects come together, sharing her ideas and approaches in making their photoshoots a true sensation.

The audience is drawn into the process of creating something from a scratch. Showing the efforts required for just a few pages of curated content works miracles with audiences – making them appreciate the brand’s work and increasing consumer loyalty and trust.

To improve engagement with users, try creating video content around photoshoot campaigns and special events important to your brand. Show how your products are made, where do you source your materials from – every detail that is important to your customers and see your brand recognition and loyalty skyrocket.

User-Generated Videos Promoting Sales

If your brand is getting any traction with users, they’re probably expressing opinions and leaving reviews for your products.

Leverage testimonials and encourage customers to create user-generated videos – showing how they use the products, what they like about them, and what they wish to improve with your services.

People like to hear what their peers think of a product or service. They’re more willing to trust existing customers’ opinions, rather than brands claiming to be helpful. The more genuine your user-generated videos are, the more likely they are to positively affect the purchasing decision of potential new customers.

Take GoPro for example. They create unforgettable campaigns with user-generated videos showing how their cameras operate in real life.

They even make it fun by turning the whole process into a competition – enticing participants to generate all sorts of creative ideas – like a downhill bike chase on a roof-top, for example.

People interested in GoPro’s products get to see what actually happens when the camera is on and what they can expect as quality and durability.

You can create similar user-generated videos to help your potential customers get the feeling they already know what to expect from your products and be comfortable with their purchases.

GIF’s & Videos Boosting Email Marketing Conversion

Email marketing is still one of the most effective ways to convert potential eCommerce customers.

It’s a preferred marketing tool that 80% of business professionals trust to help them increase customer retention. In addition,  59% of surveyed customers say emails influence their purchasing decision.

To continue delivering delight, surprise and value to your customer lists and prospects, however, you should consider using animated gifs and videos in your email campaigns.

Statistics show that brands that use gifs see a 6% increase in open rate and a 109% increase in revenue.  Similarly, an initial email with a video gets a click-through rate of 96%

Embedding gifs and videos in your emails will also help you personalize your messaging and deliver value specific to each user.

Here are a few examples of brands using gifs and videos in their email marketing to get you inspired:

Headspace

Netflix

Starbucks

When you create your gifs and video-embedded emails, keep in mind the average attention span of adults is about 8 seconds. For your videos to be short, create anticipation in your video, and direct the reader to a clear CTA.

To Wrap Up

E-commerce is the preferred shopping option of the modern consumer. Dull and uninspiring product lists and low-resolution images, however, are not anyone’s favorite.

To deliver a memorable, and most of all, helpful shopping experience to your customers, you need to stay on top of the latest trends. Video production is not a strategy you can afford to miss. On the contrary, if your online business hasn’t yet started using videos – it’s time.

Video content is the future of e-commerce. It’s visually appealing, interactive, and immersive. It snatches the attention of the digitally overwhelmed and makes them stay to enjoy what you offer.

Don’t waste time. Start producing video content and delight your customers. These 5 content ideas will help you integrate video production into your digital marketing campaigns. Try it and tell us how you did!

___________________________________________________________

Terry Tateossian, Founding Partner of Socialfix Media is a fourth-generation entrepreneur who is recognized as an Inc. 5000 America’s Fastest-Growing Private Companies, Forbes’ Top Women in Business, Fastest Growing Women Presidents by WPO, and 40 Under 40 Business Leaders by NJBIZ. Terry has been featured for outstanding leadership and career accomplishments in numerous industry publications as an engineer, a thought-leader in technology, and an innovator in the field of marketing. But her favorite and toughest earned title is being “Mom” to her 2 children.

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Archives, Global Logistics, Global Trade Daily

Omnichannel is Everything – How the Pandemic has Made Direct-to-consumer a Priority and is Upending the Old Supply Chain Model

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If 2020 taught us anything, it demonstrated that to succeed, maximize resilience, and ensure business continuity, companies need to utilize every available channel – e-commerce, direct-to-consumer, retail stores, distributors, and marketplaces like Amazon. That way if one channel is disrupted, whether by natural or man-made causes, the show will go on. In this environment, enterprise and functional silos, coupled with batch processes, won’t do. Companies will need to rely even more on supply chain networks to consolidate demand across every channel and have a view into every point of supply, to be able to satisfy customer demand efficiently, grow revenues, and minimize costs.

The pandemic highlighted the urgent need for businesses not to rely on a single channel for servicing customers. Many companies that were doing well through brick and mortar, both retailers and manufacturers, suffered a huge blow when the pandemic hit and stores closed. Many of them are now scrambling to catch up and bolster or create their e-commerce channels and just in time. E-commerce has surged with Accenture reporting that “much of this new e-commerce activity has been from new users. COVID-19 will permanently change consumer behavior. Consumers’ attitudes, behaviors, and purchasing habits are changing—and many of these new ways will remain post-pandemic.” It is clear that companies that can exploit this channel, but those who fail to do so will slip behind their competitors.

Meeting the Challenges of Direct-to-Consumer

Organizations today know the value of being customer-centric, focusing on the end-customer, and tailoring the supply chain to serve customer demand as and when it happens. However, this means having products available, keeping customers informed of the progress of their order, and ensuring a timely and smooth delivery experience. In these times, it’s extremely difficult and costly to acquire a customer, and a single bad interaction can lose them.

That becomes a major challenge when customers are everywhere, in stores, physical and virtual, shopping on third-party marketplaces, and researching and reviewing on social. Today, being customer-centric requires a view across all demand channels and the ability to aggregate that demand. It also requires visibility to all available supply so organizations can coordinate that supply to meet demand at the lowest cost. That might be a pick-up in store, ship from store, ship from DC, or from the manufacturer direct to consumer.

To do so efficiently requires the ability to plan, collaborate, and execute across the extended supply chain. What does it take?

A Connected Real-Time Business Network. Companies need to be connected, not just to their immediate trading partners, but to their entire supply network. This means connecting and coordinating with distribution centers, fulfillment partners, retail locations, and parcel carriers, and perhaps with “white glove” installation and service partners.

Processes to Support Order Size of One. Companies of all sizes need to become better at efficiently managing single item orders. However, those new to e-commerce and accustomed to shipping bulk order quantities to distribution centers and stores will need to move to smaller order quantities through to the end customer. The rule upstream has been to enforce minimum order quantities in order to drive efficiencies and lower costs. Today, shippers must process a “little-and-often” approach that is predicated on point-of-origin collaboration and consolidation to move smaller quantities more frequently based on real-time demand updates.

Real-Time Data. It is possible to move to smaller order quantities and actually decrease costs by using the end-to-end network since it can provide real-time data down to the item level. This eliminates information lead times and enables real-time visibility and collaboration. In turn, this reduces variability and the bullwhip effect for all trading partners by providing real-time insight into demand across all tiers. It creates better alignment between departments and partners and coordinated response to demand and makes possible truly demand-driven logistics. From a transportation perspective, mixed loads will become the new normal.

A real-time network also enables visibility to, and the ability to redirect and reallocate supply from all sources, stores, warehouses, suppliers, even product in-transit to match demand. This means more agility and accuracy in deploying inventory and using the most cost-effective source of inventory for customer orders.

Integrated Logistics. For optimal efficiency, organizations also need logistics options across every mode, from international and ocean to domestic and last-mile delivery. Networks enable this because the technology views inbound and outbound orders as two sides of the same coin. What one trading partner considers inbound, another considers outbound. Thus, the only way a last-mile solution can benefit both the consumer as well as the companies providing the goods and services, is to optimize all inbound and outbound across a single network. Providing visibility, control, and math-based or AI-based decision-making at different supply chain touchpoints empowers trading partners to make well-informed decisions about positioning and moving inventory. Telematics and full order visibility enables companies to better anticipate logistics issues, minimize disruptions, predict ETAs and drive customer satisfaction.

Alerts and Analytics. Applying real-time, network-wide data, combined with AI and intelligent autonomous agents, greatly increases visibility to potential problems and expands an organization’s range of options for resolving them. Predictive analytics enable the business to anticipate issues sooner, while prescriptive analytics provide guided resolutions to fix them optimally. In many cases, where the resolution is within predefined “guardrails,” intelligent agents can resolve issues autonomously. This type of AI-assisted and autonomous problem solving is especially important in omnichannel environments, where there are a lot of channels and a high volume of orders and shipments in flux. Applying AI can also help balance complex trade-offs and consider the repercussions of decisions across many variables and at scale, in way that human planners cannot.

The omnichannel challenge of reaching direct to the consumer is winnable. Real-time data, networks, machine learning, and intelligent agents, make it possible for an individual home-based order to trigger a response from the supply network, while also aggregating this demand in real-time across all customers to leverage economies of scale. This allows the supply chain to function as a unified and agile ecosystem to achieve the highest levels of customer service at the lowest possible cost. Yes, even when the orders are home-based for individual items.

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Joe Bellini is COO at One Network Enterprises, provider of an AI-enabled business network platform that enables all trading partners to manage, optimize and automate complex business processes in real-time. To learn more, visit www.onenetwork.com or follow One Network at https://www.linkedin.com/company/one-network-enterprises.

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Archives, Global Logistics, Global Trade Daily

How To Grow Your Business After COVID-19

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COVID-19 has upset economic forecasts and forced many companies worldwide to rethink their business strategy plan for the future. Finding success during this unprecedented time has been a painful process for many companies. Although the pandemic has brought new hurdles to businesses across the globe, it has also created loads of opportunities for retailers. A change in consumer behavior means more people are turning to online marketplaces for their shopping, which has redefined the position of ecommerce and online businesses in the retail sector. But this positive trend isn’t an assurance for future success. You need to develop a plan that intends the growth of your ecommerce business, in a post-pandemic context. Here are a few helpful tips:

1. Revise Your Current Marketing Strategy

Assess your current messaging process to establish whether you’re relaying the right message and positioning your business in the right way to succeed after the pandemic. This step will help you identify and get rid of marketing materials that don’t resonate with the current economic and social situation. Shun sending emails, updating on social media, or engaging in any marketing campaign that may seem insensitive.

Adjust your brand’s messaging to be in line with the unique needs and demands of your customers. Your message should show to both existing and potential customers the value they’ll get from buying your products or services. Offer appropriate, concise, and meaningful communication. Be sure to address the COVID-19 impacts, and the steps that you’re taking to bounce back big time. If you’re thinking about marketing your products to overseas consumers, consider entering a strategic partnership with a professional globalization partner. Optimizing your Global PEO strategy will always benefit your business’s revenues and will help you smoothly navigate your workforce abroad right after the pandemic.

2. Provide Unparalleled Digital Customer Experience

In a rapidly expanding ecommerce landscape where many sellers are providing the same products and services, offering better digital customer experience can set your business apart from your competitors. Some of the things that can help you deliver unrivaled digital customer experience include a smart and user-friendly interface, excellent support, efficient payment options, and the right technology infrastructure.

Poor networks and lack of strong data protection measures can easily damage an otherwise well-built customer experience. Websites and payment portals with poor loading speeds will drive customers away. Consumers will also avoid companies that are vulnerable to hacking and security breaches. So laying a solid foundational infrastructure for your ecommerce business can help it grow in leaps and bounds in the future.

3. Optimize Your Website and Incorporate Live Chat

Ensure your website is as responsive as possible and accessible on a wide array of devices. Enhance your website’s speed and ensure it’s extremely easy to use no matter the device the user is using to view it. Around 48 percent of people use mobile devices to search for product information and to shop. On top of that, 47 percent of digital shoppers prefer a site with a load speed of below two seconds. Avoid driving leads to competitors by creating a highly responsive and user-friendly site.

When a consumer is gathering product information while shopping, they expect answers to their questions right away. If they can’t get a quick response, they’re likely to move on to another online store. Live chat is almost equivalent to in-store customer service due to its ability to bring the advantages of human interactions. It adds a human touch to digital shopping. Most importantly, it can be done remotely.

4. Build Reliable and Diversified Supply Chains

The pandemic has demonstrated that the global economy relies extremely on supply chains, which are susceptible to disruption. With the increasing attention to digital customer experiences, ecommerce and online businesses must invest time and effort into consistently delivering products to consumers if they want to survive after COVID-19. Supply chain interruption can result in shipping and manufacturing setbacks if a company lacks a flexible plan to address ongoing demand.

In addition to investing in excellent network uptime, ecommerce businesses should look for multiple options for obtaining materials and labor. The best way to do this is nurturing relationships with a variety of suppliers, all of whom should have the capacity to comply with the intricate compliance requirements of different sectors. A globalization partner can also connect you with the best local vendors who’ll help you reliably deliver your products to your global customers.

5. Prepare for Capacity Growth

Invest in adequate technology infrastructures, such as servers and bandwidth, to help you deal with more eCommerce traffic. Do a thorough review of your past performances, revised marketing strategy, and latest ecommerce trends to gauge the amount of traffic you’re likely to attract. This information will be important in a proper estimation of demand, and building the right capacity to exploit it.

Adopting cloud computing can help your business provide the best digital customer experience and react to ecommerce trends rapidly. It’s easy to upscale or downscale cloud computing capacity to handle growing demand quickly and effectively. For better control and flexibility, you can invest in a hybrid cloud infrastructure.

6. Be Transparent with Pricing and Consider Lowering Delivery Charges

Post-COVID-19, customer loyalty will be extremely crucial for your company. Consumers share their experiences, both positive and negative, on social media and review sites. Negative reviews can have a major negative impact on your profits margin. Avoid concealing extra fees or details that may come as an undesirable surprise during the final stages of finalizing a purchase.  Be transparent from the initial stages to keep customers pleased and loyal.

A large number of regular online shoppers end up making more purchases when shipping is free or considerably low. Lowering or doing away with delivery charges could result in a significant uptick in sales. If your current profit margins can’t accommodate this, consider value addition. You can give a discounted delivery on purchases exceeding a specific value.

Conclusion

The high ecommerce demand caused by the COVID-19 pandemic is likely to become permanent even after brick-mortar stores resume operation, especially if it follows the normal trends of online shopping habits. Companies that adapt quickly will stand a better chance at growing their businesses and expanding their profit margins by exploiting this great opportunity. The above 6 tips will help them grow their businesses even in post-pandemic circumstances.