eCommerce Trends to Keep You Ahead of the Game
The world of eCommerce has changed dramatically over the last few years. Online web shopping has boomed, there’s digitized tellers in grocery stores and Amazon created the infamous Amazon Go; a place where the checkout experience is simply entering the store, picking up your shopping, and walking out.
Driven by Covid-19, businesses had to jump on the eCommerce train much faster than anticipated. Shipping and acquisition costs are rising swiftly while consumer behavior is changing daily. In the meantime, traditional advertising methods shifted as consumers are in a constant state of purchasing. Be it through social media or web shopping, ads pop up on literally any platform that consumers can get their hands on. So the question is: how do you set your business up to become an instant success?
Traditionally when companies needed to become competitive and place themselves within any market, the way to go was price wars and product placement. Now it’s brand positioning. Companies need their customers to identify with their brand and align with their values which supersedes any competitive price.
Nowadays, customer experience drives customer retention and creates a community that willingly comes back.
Let’s break it down.
Gen Z’s attention span is about 8 seconds while Millennials have an attention span of 12. So what can we gather from this?
It’s that the entire ecosystem of content consumption has shifted to short video and audio clips. You have to captivate your consumer by telling their story as if it’s one with the brand. Take a second to hone in on the brand identity and its values. Who are your customers? Why does your brand exist? How are you going to be recognized in the market? Tell your story as if it’s the clients.
Numbers don’t lie, studies show that 80 percent of consumers want more personalization from retailers. Personalization now extends to the entire customer experience from start to finish.
What this means is that customers are looking to receive personalized interaction with the retailer; essentially persuading them to allocate their time and money according to their preferences i.e. buying the items or services that fit their wants and needs best.
Making the customer part of the conversation that develops your brand is like finding the missing piece of a jigsaw puzzle. Essential and satisfying. An added bonus is that you can leverage the data you gather from these interactions to create personalized offers, products, and communications that are uniquely relevant to them.
As a very niche part of the e-commerce industry, payment technologies can often look misplaced and untrustworthy. Creating a cashier that is customizable and can be made to look like it’s native to your website can establish trust and help build a brand identity. Merchants need to sell where a lot of customers spend most of their time, and that’s on social media.
You can optimize your buyer paths, improve your product search and create a streamlined mobile experience; all while nailing your fulfillment and return process. If you’re considering diving into the world of live shopping experiences, then you’re right on track. Live shopping experiences are the rising star of e-commerce. Utilize your social media platforms to create live shopping events and allow businesses to create in-store shopping experiences in the online world.
Where does Praxis Come in?
Praxis is one of the companies within the realm of payments that offers up complete transparency. What you see is what you get. It’s a company that personalizes the user’s experience and improves every customer touchpoint.
It creates a payment page for e-businesses that can add multiple payment methods, giving you more flexibility to find the payment solution that fits your company best. This is all done with one single integration that doesn’t require an individual integration for each and every payment provider.
Customers want the option to choose their preferred payment method during the checkout process. By diversifying your payment technology you are more likely to build trust, reduce cart abandonment and encourage shoppers to spend more.
Praxis creates such an easy way of integrating its cashier that it’s accessible from any device, making live shopping a breeze. Remember, you aren’t just pushing a sale, you are driving equity and a relationship with the brand.