Opinions expressed by Contractor the contributors are theirs.
You are reading Entrepreneur India, an international franchise of Entrepreneur Media.
The retail industry is entering a period of extraordinary change. People are increasingly opting for the box delivered to their doorstep, which puts pressure on traditional business models such as retail. Of course, technology plays an important role, but it’s not the only force at work. New business models are forming that will have a profound influence on e-commerce and the wider retail value chain. Consumer expectations and habits are changing at the same time.
Unsplash
Nowadays, shopping mainly consists of one or two options which include visiting store and buying online. In post-pandemic conditions, many customers want stores to create an environment where shopping becomes an event in itself. This results in highly interactive and engaging online and real-world experiences. Providing unique, physical shopping experiences, both online and in person, will become an important way for brands to strengthen and differentiate their value proposition.
Towards a mobile-friendly shopping experience
Mobile devices have already established themselves as a crucial platform for digital information and communications, and the same is beginning to apply to retail and commerce.
Most of the customer discovery happens through WhatsApp groups or through nearby Google searches. The real-time component of location analytics will allow merchants to adjust their marketing and engagement in real time to meet the needs of an individual consumer, allowing for a more flexible approach to marketing.
Retailers easily interact with customers through platforms such as WhatsApp, Facebook and Instagram by sending contextual and relevant messages and marketing offers. Another important benefit of these platforms for merchants is the ability to engage customers after they leave a physical store by offering suggestions and special offers related to the product they have expressed interest in.
Rise of digital payment and shipping options
The success of an e-commerce retail business is determined by a variety of factors. Retailers have a plethora of options for building customer loyalty, from product design to marketing. With countless businesses opening stores, creating a highly competitive climate, it is becoming essential for stores to implement new technologies, such as digital payment methods.
Over the next five years and beyond, we expect explosive growth in mobile payments for online goods and services. It simplifies payment options and improves convenience for consumers, encouraging them to pay with their mobile phone.
While shipping may not be the most exciting aspect of your customer’s experience, order fulfillment is one of the top priorities and most crucial elements of an e-commerce business. , which a buyer will have with your goods. It’s a race for free and fast delivery. About 48% of shoppers consider shipping costs when researching products online.
Key Benefits of Retail Shipping
More choice and convenience: Small businesses can compete with industry giants and stand out by making their services more convenient. Offer a variety of popular delivery choices, such as pickup and drop-off points, to give customers a more personalized experience.
End-to-end experience: Customers want to be informed about their purchases, with 58% of them checking the status of their order at least twice and 88% using text messages or emails to be informed. While convenience and choice are the two most important factors for consumers when it comes to shipping, up-to-date tracking information is the second most important factor.
Optimization and insights: Shipping, like any other service or business decision, can only be improved with valuable insights gained from accurate data. Shipping management software connects businesses with all the information they need to ensure they use the best and most cost effective courier services by tracking charges and information for every order in one central location.
Digital Catalog: An Imperative Way to Satisfy New Era Customers
There are three reasons why you should use digital catalogs for your retailer’s business.
Very accessible: The digital catalog greatly facilitates the task of your customers because they can modify it at any time and from any place. Your customers will no longer have to lug around a bulky and easily misplaced printed catalog. The only thing they need is internet access.
Convenient: Digital catalogs are a useful solution because they allow the greatest flexibility in terms of finding and using products.
Order products instantly: The shopping process is reduced to a few steps when customers search for the digital catalog: Click to add to cart, then complete the checkout process conveniently.
CONCLUSION
Because most customers make emotional decisions, the key rule for store owners is to make the buying process as easy as possible. These digitally integrated in-store solutions are exclusively focused on the tasks of the customer and the merchandiser, as they not only increase digital sales, but also help you find new audiences with multiple digital tools that were previously inaccessible.
