Since the move to e-commerce in early 2000, most retail companies have moved onto the e-commerce scene. To stay afloat, they have been forced to learn and adapt to a range of technological tools that have revolutionized the retail industry in the last two decades. Everything from marketing to distribution has been reinvented with the most recent developments being targeted advertising, daily deal sites and automated customer service bots.
The continual transformation is inevitable, and this has resulted in high customer expectation. Both retailers and e-commerce solutions providers have had to rethink their business model to position themselves for success in 2018. Here are three strategies to help you build a cutting edge e-commerce website in 2018.
v Use larger platforms to tap into advanced analytics
Large e-commerce sites like Walmart have developed smart tech features like “smart cart” which determines discounts on add-on goods based on incremental costs. They achieved this by acquiring Jet.com, the developers of “smart cart,” who are also the creators the Jet Rules Engine. The Jet Rules Engine helps retailers improve competitiveness, new customer acquisition, and profitability by using dynamic pricing.
Your small e-commerce site may not be able to develop cutting-edge features like Jet.com did, but you can still provide smart tech for your customers. One way is to sell on leading e-commerce platforms such as Amazon. You can also utilize third-party backend software like Shopify for your e-commerce site.
v Focus your e-commerce websites design on customer experience
Most retailers wrongly believe that customers have to experience their product first. Successful brands like Casper have proven that to improve customer experience. The focus should be on value instead of price. Customer retention can be improved by reducing waiting periods. Casper revolutionized the D2C mattress market by focusing on the customer first. They achieved this through free shipping and returns, providing risk-free trials and availing sleep specialists to talk to customers.
By choosing the right e-commerce platform that allows you to control customer experience on your online store at low prices, you can guarantee yourself higher margins for your products.
v Prioritize reviews on your e-commerce site
Most consumers today must check online reviews before purchasing a product. Their buying decisions are hinged on reviews that provide the credibility and confidence in a product. For most e-commerce sites, providing all reviews in one place is a difficult implementation. The solution to this is using an independent third-party service provider such as Yotpo.
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