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A worldwide disease has made it really difficult for people to get to the shops. They need a hero to help them fulfill their consumer needs. You can be that hero (licence to kill not included).
The world has been thrust into chaos by a deadly pandemic. You, the protagonist in this story (we’ll call you Agent 2020), are tasked with navigating the perils of Covid19 and hordes of other ecommerce businesses as you search for a competitive advantage. In an earlier article we have already touched on ways to prepare for Black Friday, but this year has ushered in a host of new challenges that have made it harder to reach your customers in person. All that consumers want is a view to a till, but social distancing is forcing more and more people to consider shopping online. Time is running out. What will you do to ensure your customers buy another day?
Ok, enough with the silly James Bond puns and down to business. No one really knows how the pandemic is going to affect Black Friday or the shopping rush leading up to Christmas. What we do know is that online sales are up – way up – and that ecommerce businesses with the right strategy have an opportunity to make a killing.
So what is the right strategy?
The fundamentals of business still apply. It’s important to know how Covid has affected customer behaviour within your particular market and then adapt to the changing landscape, but there are a few trends that almost all online businesses should consider when plotting a course through the “new normal”.
Rest assured that other players in your market have noticed the importance of selling online and are adjusting their operations accordingly. It’s therefore vital that you actively market your website in order to attract the necessary traffic. As the saying goes, if you’re not moving forward, you’re falling behind.
Covid19 has had an adverse effect on the pocket of many consumers, and as such, they have had to look for ways to make their money go as far as possible. Online retailers are anticipating more circumspect buying behaviour, with consumers engaging in more rigorous price comparisons before checking out, so they are getting their specials out early. Companies such as Makro and Takealot are running deals throughout November in an effort to get a headstart. If you haven’t started already, best you get on that.
While global online sales have spiked in recent months, a study by McKinsey and Company shows that much of these are essential items at the expense of more frivolous purchases. This is evidenced by the more than 30% increase in the ‘food and household goods’ categories worldwide. A good way of selling your more luxurious products is to use cross-selling plugins or perhaps bundle them with well-priced essentials. Even in trying times, we are all looking for a way to justify spoiling ourselves.
If you are an existing retail business that is looking for more exposure to ecommerce customers, this of course is where we can help. Depending on which systems you are currently using, Stock2Shop can keep your online sales channels accurate and up to date without upsetting your current workflow. It’s business as usual, just better.
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