Ecommerce has certainly been on the up in 2013, with figures from Deloitte showing that online sales were expected to hit £5 billion this Christmas, a 19% rise compared with last year.
By James Hardy, Head of Europe, Alibaba.com
And with this trend only expected to grow in 2014, how can businesses ensure they are making the most of the opportunities open to them?
I’ve outlined the New Year’s resolutions e-tailers should be making if they want to reach their potential in 2014.
Don’t ignore the high street
Online retail may be seen as a replacement for the high street, but in 2014, ecommerce sites will need bricks and mortar stores more than ever.
As consumers switch to shopping across multiple channels and blend online with offline shopping, ecommerce companies should be looking to establish a high street presence, either through permanent showrooms or pop ups, so customers can see products up close and try before they buy.
Offer a personalised service
It’s becoming increasingly important to treat customers as individuals, however, a recent study by customer experience experts SDL suggested that 36% of European online retailers have not invested in in-house personalisation services for customers .
Retailers should offer customers tailored recommendations and send them targeted messages about deals which may interest them or gently remind them about abandoned shopping carts to show they are noticed and valued.
Develop a corporate social responsibly policy
Corporate social responsibly (CSR) is no longer the domain of big businesses, with the Reputation Institute’s Global CSR RepTrak 100 Study showing a clear link between (CSR) and customer relationships .
A simple starting point could be taking steps to be more environmentally-friendly by recycling printer cartridges and committing to buying from suppliers who use sustainable sources.
Be clear on your website about your current CSR activities and any future plans. You could be pleasantly surprised at the effect this has on your sales.
Create a mobile-friendly site
Today’s shoppers want to be able to make purchases on the go, and are using mobile devices to access the web.
Data from SplitPixel predicts that there will be an 84% increase in mobile devices share of website hits between 2013 and 2014, while by next year more than half of people will have used mobile devices to carry out online purchases .
However, as of this summer, just 55% of ecommerce companies had mobile optimised sites, according to Econsultancy , meaning many companies have some work to do over the next 12 months.
Where possible, make sure you factor mobile shopping in your ecommerce strategy to avoid alienating this growing customer base.
Keep your website updated
Keeping website content regularly updated can be time consuming, but it is extremely important to the success of an ecommerce store.
Not only will it increase your website’s searchability, updating with high-quality, appropriate video, image-led and written content will single you out as a knowledgeable resource and keep consumers coming back.
For example, DIY retailer B&Q uses how-to guides and expert videos to provide something of value to customers visiting its site.
Improve delivery speeds
A number of larger retailers, including the likes of Amazon, Wal-Mart and eBay are aiming to increase their delivery speed, with the ultimate goal of being able to offer same day delivery on all items.
The 2013 Online Retail Delivery Report from Micros showed that at the moment, 68% of online retailers offered next day delivery, however, just 6% offered same day delivery in London , meaning, if retailers can get products to customers within 24 hours, they will push themselves significantly ahead of the competition.
Target existing customers
When growing your business it can be tempting to focus all your attentions on new customers, however, there’s evidence that retention is key to business success.
Data gathered by Yotpo shows that new visitors to a site spend an average of two minutes 31 seconds on site compared with five minutes 31 seconds for returning visitors.
Returning visitors also look at more pages per visit on average and are more likely to make purchases, meaning campaigns which target existing customers can really pay off – so don’t forget them or assume their continued loyalty.
For more visit: www.alibaba.com
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