Increasing sales and reaching new customers via ecommerce can be a powerful opportunity for retail stores. Consumers will continue to choose it as an increasingly popular way to shop in 2020 and beyond.
Ecommerce revenues in the U.S. are predicted to surpass $638 billion by 2022, according to Statista. These statistics are important In the year 2020, ecommerce is proving to be an increasingly effective means to keep retail businesses afloat amidst the global crisis. Since most consumers shop at home these days, many brands are seeing success through ecommerce. Even so, making such a drastic shift can be challenging for companies considering ecommerce. Here are seven steps you need to follow when setting up an ecommerce project management plan in order to ease the burden on retailers.
1. Pick-ups and deliveries
Since global conditions are currently so difficult, consumers are staying indoors more often – and, because of this, most of their activities can be done from home, including shopping. As a result, retail sales have been impacted directly. People aren’t picking up items at stores and restaurants anymore in order to stay healthy. They usually shop online instead. Consumers’ shopping experiences have been changed as well due to the convenience of having their purchases delivered to their homes. Even after the global crisis has passed, ecommerce will likely remain popular.
Similarly, pick-ups have become streamlined and will need little customer interaction, despite the fact the customer must leave their house and take precautions. Finally, retailers must note how effective these conveniences have been in drawing customers. In order to implement this model post-crisis, it will have to be revised.
Getting the best shipping prices is essential when shifting to an ecommerce model. Shipping costs may be a deal-breaker for customers, and they want to receive more items.
Shipping options mean that store owners will also need to invest in packaging, which means customized boxes and packaging will become the norm. Investing in sustainable packaging can contribute to a more prosperous future for brands, but they will also be expected to keep an eye on their price and quality.
Shipping and delivery are among the most important aspects of ecommerce and can be a major driver of customer loyalty to your brand if implemented correctly.
2. Improving safety and health
Although the world is anxiously awaiting life after COVID-19, its reality is that we will be adapting to this new reality.
Especially as more retailers open, it will be necessary to maintain the hygiene practices that were instituted during the lockdown. In order to add sanitizers around their stores, companies should scout locations strategically. The facility will need to be routinely disinfected by more cleaning crews. There are times when social distancing measures flare up, even in places where measures have been relaxed. The retail industry should prepare for the chance to limit the number of people on building sites – which could lead to a drop in revenue and sales.
Any new employees must be trained in safety measures if they are not already trained. Current employees are probably already trained on safety measures. A business must also ensure its employees are safe on its premises.
Taking steps to provide a safer working environment will only benefit a business in the long-term – the world has changed and we will feel its effects for a while to come.
3. Working remotely
While remote work may not have a direct impact on retailers, its impact on customers will – and this must be considered when developing a plan to shift into ecommerce. For the rest of 2020 and beyond, most of the in-store staff will be replaced by online employees or employees working permanently from home.
4. Decreased brand awareness
There was no brand awareness or loyalty during the quarantine period.
Because consumers were desperate for goods, they bought them from any brand they could find – despite having previously patronized another company. There is a possibility that this trend will persist – the ‘get what you can’ mentality has taken hold quickly and was hard to shift, and the impact has been long-lasting. The most effective way to boost brand awareness is for companies to emphasize their ecommerce efforts, such as giving customers more options for ordering online, providing delivery, and picking up their orders.
A message that highlights the company’s e-commerce aspects and opportunities is relevant and timely, thus it will attract audiences. Market gaps need to be monitored and exploited as, and when, they appear in the market. Retailers need to accept that competition will be more chaotic than before. Your ecommerce communication plans should highlight the added value you can provide to consumers who have many choices.
5. The virtual experience
Retailers will have to create new ways to make lasting connections and create memorable experiences with their customers as remote working becomes more common around the world.
In order to create those experiences online, businesses need to take advantage of the fact that consumers will be less likely to visit stores. Social media can help here. Live streaming of classes, product demos, and expert interviews on YouTube or Instagram Stories kept audiences engaged.
Retailers have created online avatars of their in-store experiences to remain socially distant and safe. Using AR filters on social media platforms such as Instagram and Snapchat, businesses can allow their customers to try on some products such as makeup and clothes, and enable gamification. Businesses will be able to engage their customers better in the future if they are more online.
6. Provide gift cards and discounts
There has been a devastating impact on a large number of consumers – and it is expected to continue. Because of this, disposable income and spending ability will decrease, which will mean businesses will need to increase their efforts to encourage customers to make purchases.
Customers should be given a reason to consistently engage with brands – a more cohesive customer-centric approach to marketing. Discounts, package deals, and special offers can help retail brands mitigate consumer spending declines. You can make your ecommerce platform more appealing by providing incentives for customers to use your service – this will also serve as marketing for the virtual platforms that customers are increasingly interested in. The use of discounts can also be helpful for improving sales of underperforming products – lower prices make them look more profitable and they will sell better, thus reducing inventories.
A gift card is a great way to bring in immediate revenue as well as ensure future business.
7. Examine orders from suppliers
Having excess inventory as a restaurant or a retailer in 2020 could result in revenue losses because there is still so much uncertainty around which items will move quickly.
Overstocked items in warehouses should be identified by retailers. Then, order fewer of those items that don’t sell well. A delicate balance has to be struck here to avoid out of stocking popular items and negatively impacting sales. Tracking inventory and identifying which items are selling out faster will be easier with an inventory management system. If ecommerce sales pick up, retailers could slow production so that inventories are not full.
In the future, businesses will be able to improve their sales by following these seven steps to move safely into an ecommerce environment.
