The global volume of online sales has staggeringly increased over the past year.
The pandemic saw e-commerce sales reach an all-time high after a year's worth of growth occurred in a matter of weeks.
But what is the consequence of this growth for sellers?
At the height of the Covid-19 pandemic, 10 years' worth of e-commerce growth was seen within the space of 90 days. As high-street retailers were forced to close, and many could not leave their homes, online shopping became a necessity for millions, with 84% of consumers having shopped online during this period.
2020 saw nearly 150 million shopping online for the first time ever, with the numbers of e-commerce buyers expected to rise exponentially as many are becoming increasingly accustomed to this new way of purchasing.
While this new development has been a driving force for digital brands, the world of e-commerce has become more competitive than ever, as more businesses battle one another to acquire customers among a sea of internet sellers.
Competition is also coming from overseas, with cross-border e-commerce soaring by 21% compared to the previous year. While the US is still leading the way, China's cross-border e-commerce output has dramatically accelerated during the pandemic, putting it in second place behind America.
Increased international competition, which isn't likely to subside, means brands are rapidly converting from TV to digital advertising, driving up ad costs.
The cost of acquiring customers via advertising has reached an all-time high. Creating innovative digital experiences to make the consumer's life as easy as possible has become crucial to ensure continuing sales.
Overcoming fierce competition by optimization is Dezerv Digitals solution.
Never fear; online retail success is still possible despite high levels of competition.
Optimizing commerce across all of your business channels like online marketplaces, social media, retail, and wholesale; by perfecting your omnichannel strategy, your team will be able to easily switch between online and offline retail depending on customer demand.
Retail merchants with an effective omnichannel strategy replaced 94% of purchases lost in the first month of the pandemic with online sales, demonstrating the importance of providing innovative e-commerce experiences.
Obtaining a unified view of your product and customer data is essential for providing a consistent customer experience across channels.
Your platform should be designed to automatically sync product information in real-time across channels and integrate both your business's sales and supply aspects.
This is how we build our e-com sites at Dezerv to create a smooth and efficient experience.
Customers show an increasing demand for ultra-fast and simple mobile shopping experiences, with 53% of buyers being likely to abandon a purchase if a site takes longer than 3 seconds to load on their mobile.
Therefore, focus on creating responsive online stores and consider converting your site to a progressive web app designed to load instantly to maintain consumer engagement.