Online shopping is one of the big things happening in the 21st century. Gone are the days when one could spend hours queuing to be served in a busy grocery store. The world has welcomed technology in various aspects of life from smart living, smart transactions (paperless money) and more recently the smart shopping experiences.
According to a 2018 research by EmpathyBroker, 51% of UK consumers prefer shopping online as compared to traditional in-store shopping. 55% of the same consumers admitted having shopped online more often in 2018 as compared to 2017. The steady rise of online retail has been fueled by the flexible and favorable seller-buyer agreements, the convenience of online services, increased mobile banking, and the emergence of responsive mobile sites.
Some of the big players enjoying a global market share have been exploiting all the variables of the dynamic technology. Such companies were formed during the internet boom of the late 1990s and have recorded constant growth over the years. These trends not only gives us a hint about the future of online shopping but also highlights the importance of embracing a chance to grow by solving common problems in society.
The modern E-commerce industry
It comes as no surprise that the current online marketplace has changed a great deal. Nowadays, businesses are seeking to create positive and memorable online experiences so as to build their brand, boost loyalty and win more customers. Digital marketing is also taking shape as companies target social media platforms to generate sales, create emotions and connect with the world. With all these in place, offering great products is not enough to stay ahead of the competition. Marketing strategists are constantly inventing ways that will enable companies to sell their products and services with little competition even from the well-established brands.
Smart retailers are going the extra mile by making people feel special and unique before unleashing their intentions. Such companies are run by entrepreneurs who understand the power of public relation in a given business set-up. They prioritize in creating joyful digital experiences while valuing the clients’ need before their very own. According to Clever Shop List, the online retail landscape can be improved even further to offer a unique payment alternative; where customers can purchase goods online, get immediate delivery and pay for them later. Not every company can do this for obvious reasons. However, daring entrepreneurs who believe in customer satisfaction often get rewarded with more loyal and recurring customers.
Impacts of online retail
An August 2018 report from the office of National Statistics shows that one in every five pounds is spent online in the UK shops. The high street markets, on the other hand, registered declining sales with some closing their high-end stores to fully operate online. This transition represents an online consumer market of 18.2% of all the retail sales. Among the top shoppers who recorded a higher online presence while avoiding the dusty old department stores were from Wales, North East, London, South East, Yorkshire and Humber regions.
Due to the need to make the online shopping experience accessible to everyone, responsive mobile sites are gaining popularity among many stores. Consumers can now search, browse, and shop using smaller screens with the same convenience and experience of a laptop or bigger screens. Mobile app developers have also re-scaled their skills to create friendly-user interfaces.
With new technologies being invented every now and then, businesses remain vigilant to keep up with their competitors and to avoid being phased out by the big companies. As online shopping and retail industry gets better with time, digital marketing proves vital as far as attracting and retaining customers are concern.