Jun 07 2017

It Is the Death of Retail as We Know It, and We Feel Fine

Warren Buffet, the noted business investment mogul, predicted the death of retail…and it turns out he was right. “The department store is online now,” the billionaire investor said at Berkshire Hathaway’s annual meeting in Omaha, Nebraska, as Business Insider’s Bob Bryan reported (Business Insider). But doesn’t it make sense? We now live in a world filled with instant gratification technologies created to give us anything we desire at the click of a button. Some might be weary of the digital marketplace transitions; however, embracing eCommerce could increase brand awareness, grow your customer base, and build customer loyalty.  

 

Creating a Responsive, Seamless Customer Experience

 

If you are unsure that creating a responsive website is a necessity, just look to what consumers think: they agree a responsive website is significant to the quality of their experience. According to Adobe in a 2015 survey, more than 7 in 10 people (73%) say content “must display well on the device” (Adobe). This conveys just how essential creating a positive digital experience on any device is to your consumers.

 

Walmart has experienced a 63% increase in online sales after completely overhauling their eCommerce experience to better compete with one-stop digital shops like Amazon (Fortune). Along with making their website responsive to any device, they have also taken other steps to further enhance more areas of their user experience. For example, the big brand has added the feature of allowing you to shop in the comfort of your own home, skip the delivery wait for your package, and pick it up from your closest store location for free. Walmart has made it possible to truly shop however you may want to.  

 

 

(Source:ebusinesshoy)

 

 

Brands must have an expert understanding of their target audience and put value in creating an eCommerce experience that increases engagement and drives sales. This means that the design, development, and maintenance of the site is critical.

 

Personalization with Big Data

 

 

(Source: Mofluid)

 

 

 

 

Whether your brand is lifestyle, outdoor or tech, personalization allows brands to tailor the buying experience to fit a customer’s unique needs. The combination of technology and consumer data can offer a more customized experience than a one-off interaction with a busy sales associate in-store.

 

 

The data developments include features such as predictive recommendations and altered navigation based on your history on the site. These features help brands utilize email segmentation and strategically target their customers based on their previous time spent on the brand’s website. This enables brands to increase interactions between their customers and products they are more likely take action on.

 

Loyalty programs

 

Finally, The customers of any brand want to feel valued. A great way to do this is by introducing a loyalty program. A loyalty program is a rewards program for devoted customers that provides them insider information on new products, secret sales, and free promotions. You can reward your customers for making purchases of course, but there are also other ways to celebrate your relationship with your customer. You can offer birthday discounts, or reward the actions they take on your social media channels, such as when they give your Facebook post a like, or follow your instagram. This is a great way for brands to provide value to customers far past the products/services that you provide.

 

 

 

 

 

eCommerce isn’t going anywhere, so is your brand ready to rise to the occasion? The sales already speak for themselves as Ecommerce sales made up 8.5% of retail transactions through the first part of 2017, up from 3.2% only a decade ago.  Contact us and see how we can help!

 

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