Small businesses are becoming increasingly dominated by e-commerce brands. They opt for an e-commerce method primarily because of the seamless experience it provides, aided by technological innovation. This is a game plan that aligns with the changing market trends and the requirements of the customers in a cost-effective manner. An e-commerce platform opens a wide range of possibilities, which can be explored creatively according to how the entrepreneur makes meaning of them.
In the fast-changing e-commerce market, here are a few trends that small businesses can expect in 2023.
Potential customers are present on various social media platforms, and entrepreneurs cannot sit back and be present only on one platform and expect an increase in sales. In 2023, there will be a necessity for e-commerce businesses to show their presence on a wide range of platforms where customers can access your products and services at the same price or with the same offer on all platforms without any difference. It provides a seamless customer experience where customers can comfortably purchase according to their preferences. Omnichannel e-commerce is a customer-centred approach to business that increases your chances of increased sales in 2023.
Though e-commerce has been in trend for a long time, the one feature that pulled people away from shopping online was that they were unsure how good the product was or whether it would suit their requirements and quality. E-commerce has been trying to overcome this barrier by providing various alternatives like the 2D image, a 360-degree rotating view etc. But with the incorporation of Augmented reality, e-commerce platforms are giving a new and creative experience that provides reassurance to customers about the product they are buying and how it will end up being useful.
Social media has a huge role in the digital marketing of e-commerce. They help reach your target audience easier. As platforms frequented by your target audience often, e-commerce entrepreneurs must ensure they have a well-curated social media handle in all the prominent platforms like Instagram, Facebook, TikTok, Pinterest and Snapchat. Creating a business account also provides data that helps understand the effectiveness of the social media account, the traffic on these pages and customers’ purchase journey. Entrepreneurs can better strategize their plans from this information, thereby getting good returns on investment.
E-commerce is a shopping experience where customers are directly connected to the product. But, even as they surf through your online page, they would prefer some assistance and clarity with their queries. Hence entrepreneurs must ensure that they provide a brief description of the product, which helps in faster decision-making for customers. For example, while purchasing a dress, a description of the size, a pictorial representation of how to measure the size etc., helps customers understand which size best suits their physique. Along with this information, building an AI-run Chatbot can help clarify the customer’s doubts and enhance the customer service experience.
The exciting feature of e-commerce is its personalization. Customers get suggestions based on their preferences and needs. Getting custom-made suggestions according to their wishes helps gain customers’ attention, tapping their interest to check on your products and increasing the chances of a successful buy. These personalized suggestions are a substitute for the store assistance an in-store purchasing experience provides. As these are data-driven suggestions, the accuracy is higher than the suggestions of a human assistant.
Sustainability is never out of the trend in entrepreneurship. Customers increasingly sort after it, taking that extra step to support brands with an ethical and sustainable stand in their operations. They look for the policies a brand takes in their collaborations with other brands, manufacturing, and packaging. These are crucial decisions that reflect the quality of the brand that you are and the principles on which it is built. As a result, sustainability will always be one of the best marketing and advertising strategies to use in business operations.
Payment Options and Easy Returns
Customers are moving toward increasingly cashless transactions and opting for payment methods like cards, net banking, and mobile banking. Hence, e-commerce must offer a multitude of payment interfaces for customers, which is one of the crucial points in their customer journey. More than profit-making, the entrepreneur must always focus on providing customers with a seamless experience in all purchase stages. This also includes return policies that allow customers to return the product if they are unsatisfied with its quality or size within a prescribed time frame. A brand’s seamless customer experience is always the determining factor of customers returning to a brand and becoming trusted clients.
Small businesses must explore the possibilities that e-commerce platforms offer. This is an urgent requirement because target customers are increasingly present on these platforms, allowing small businesses to reach them more effectively and efficiently. Only through a creative and innovative approach to exploring the opportunities of technology and digital media can small businesses stay relevant in an increasingly competitive market.
E-commerce is a thriving approach to increasing sales. To read more about these topics, subscribe to CanadianSME Small Business Magazine https://lnkd.in/dbqmSKN. For the latest updates, visit our Twitter page at @canadian_sme.