As digitalization takes over almost all industries, the retail industry has also been transformed due to the changing preferences of customers. More and more traditional retailers have been investing in their online presence and creating the best online shopping experience for their customers.
E-retailing is the sale of products and services on the internet and can include both business-to-business (B2B) and business-to-consumer (B2C) type of sales. It’s important for e-retailers to tailor their business models to online sales that are supported by a strong website. As customer preferences move towards online, more traditional brick-and-mortar retailers are investing in e-retailing as infrastructure costs become much lower. Businesses also have the opportunity to have a wider reach for customer base online than via physical stores.
While being an independent business model, e-retailing can be considered as a part of e-commerce. E-commerce businesses can sell directly to their customers through their websites and will have to handle the logistics themselves. But e-retail businesses are basically retailers buying products and services from a supplier to sell them online. Manufacturers use a network of online retailers to distribute their products in a similar way as selling in retail stores. Traditional retailers such as Tesco are some of the well-known e-retailers and Amazon is the largest e-retailer globally with its provided products and services.
Even though e-retailing can include a wide range of industries and businesses, there are similarities between them such as having an online strategy, engaging website and data analytics. E-retail also includes more than just e-commerce only businesses. Essentially e-retailing is retailing on the internet and if you’re a manufacturer it’s one of your options to sell online along with e-commerce.
Success Factors of An E-Retailing Website
Online purchases are often resulting of a complex process that influences customers’ behavior. Often times an e-retailer can offer the same products or services for similar prices as another e-retailer so other elements such as the ease of check-out, the product information provided or even video content will create a reason to purchase for a visitor and put that e-retailer ahead of their competition.
This process is called user experience and the success of many e-retailers depends on getting it right. If two e-retailers are providing the same products & services, the one that offers a better customer experience will get more traffic and conversion.
Here are the factors required on any retailer’s website to provide an outstanding customer experience:
– Strong brand presence: Consistent messaging and branding throughout the website and all other channels will create trust between the brand and its customers. Also, the first look of the website and the overall design of a website provide the initial attraction and have the ability to keep the visitor on the website for longer.
– Targeted communication: Creating a homepage that is built in a way that will serve different buying personas of a business will provide better conversion results. Defining who are the customers of business will make the first step to market them effectively.
– Having a website that easy to navigate: Having a website that gets visitors to engage more and convert them into buying customers is very important. Regularly updated and easy to navigate websites will positively affect purchasing decisions.
– Engaging Content: Along with the differentiated products and services from competitors, the content and product page copies should have informative qualities and provide all related information needed to help customers make purchasing decisions.
– Transparency: Complete transparency with the offers and prices is another key element in the success of an e-retailer. The ideal website for an e-retailer should provide clear messages and inform the visitor on any questions regarding pricing and payment issues.
– Data Analytics: The ability to track visitor behavior and their page views or an engagement with a certain product group will provide tremendous insight into an e-retailer. By using data analytics effectively, businesses can boost customer engagement and stop losing sales that will lead to the revenue increase.
The success of an e-retailer comes down to having a website that converts. Providing the best customer experience will make any online business stand out from its competitors.
Do you think your website needs a makeover to convert more sales? Contact us today so we can help you build the best website for your business.
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