These days, it’s easier than ever to enter the ecommerce market. DIY platforms and services that help brands sell online abound. The range of digital marketplaces keep expanding, and the barriers to entry keep shrinking for both B2B and B2C brands. Here are some best practices for launching your brand’s ecommerce platform.
Webster’s New Collegiate Dictionary defines personalization as “The action of designing or producing something to meet someone’s individual requirements.” But for retailers facing myriad challenges to growth and profitability, a more applicable definition would be “an imperative for succeeding in a consumer-controlled marketplace.”
The lack of audience segmentation usually centers on time and resources. For example, with only two people in the email department, it isn’t realistic to consistently send seven varieties of messages each time. This doesn’t mean a company can’t segment its emails. You just need to start in a manageable way and grow from there.
Promotions are everywhere and it can be hard for retailers to escape them. In fact, those companies that do not run promotions are outliers. Although promotions have traditionally been limited to specific seasons and holidays, today’s consumers have come to rely on them, and many will delay a purchase in the endless search for the best deal.
Technology is shifting how merchants interact with customers more rapidly than ever before. Trends like the Internet of Things (IoT), connected devices and new approaches to knowledge management mean that merchants have a lot on their plates when it comes to evolving consumer expectations. Here is how retailers can win in the ever-changing retail environment.