For generations, the basic rules of the retail system remained the same. But, now the internet has tremendously changed the way people purchase things. Many medium and big business owners have jumped into the waters of e-commerce. In this modern era, it is evident that retailers need a strong e-commerce and digital marketing strategy now.
With really great deals, cost comparisons and fast shipping, more and more users are opting for online shopping rather than in-store shopping. A study revealed that online sales went up drastically during holidays. According to a recent survey, the global e-commerce market size was valued at USD 9.09 trillion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.7% from 2020 to 2027.
This is not just about the strength of e-commerce. Various studies suggest that retail channel should expect to see online sales growing faster than retail over the year. But all these facts don’t mean that setting an e-commerce store will lead to an exponential growth of your business. For that to need an e-commerce solution provider is important to bolster your efforts. Consumers use all channels available while researching and buying a product. A survey report from Wipro suggests that purchasers who browse both online and in store, 44% of them chose to go back online to buy the product.
Follow the quote “do what you do best and outsource the rest”.
Sellers need to update their e-commerce and digital strategies and should shift from blunt advertising to ROI driven advertising. Implementing a digital marketing plan and selling your products on different affiliate channels require a high level of expertise. All this cannot be handled by a single person.
Improved and professional internet marketing and e-commerce strategy can thwart a small retailer from falling behind the big competitors and also provide new streams of revenue. One of the best benefits of adding an e-commerce store is that it does not require anything more than what is already available at the brick and mortar shop.
A boutique that wants to start selling online needs a laptop with an internet to run the e-commerce and some boxes to ship products in. So, in this way, starting e-commerce can require far less investment than launching a retail shop. It is important for business owners that the old models of retail have gone obsolete and it’s necessary to change the strategy according to the new reality. You don’t need to be a bigger brand, what you need is a bigger digital presence.