We’re living in an accelerated world of eCommerce.
10 years growth in 3 months according to a recent study by Bank of America and Forrester Analytics. While it can be debated how this measured, we can all agree things have changed rapidly in digital.
If we are only looking at the United States eCommerce we notice it is very fragmented and differentiated. Some brands are clear leaders in digital, while many are still stuck in the ’90s. Taking a closer look at digital, you'll realize it's really not new things, just things faster and better than before- continual improvement. Consider smarter browsing, better search, easier to access data, and improved payments. Where the biggest shift in eCommerce has occurred is on the customer side- the adoption of digital growth, which equates to more and higher customer demands.
So what has changed for the customer in the past year and what lessons can your company learn from these changes? We are sharing insight into three areas that have changed over the past year and how you can consider these changes and integrate them into your eCommerce strategies moving forward.
Consider how meetings were forced to change this past year, shifting from in-person to virtual. While both can be effective, in many cases people are finding virtual meetings are preferred. Less time spent getting to and from the meeting, no organizing conference room times, clothing choices, and more. Meetings can also be easily recorded and re-referenced when virtual. Digital has become as real and as good (even better) than our physical meetings in many cases as long as you are able to keep that connection and engagement.
How can you apply what we have learned about virtual meetings to your eCommerce strategies?
Loyalty programs have already evolved dramatically since the days when their sole goal was to drive more profit from existing customers. During COVID-19 stay-at-home orders we saw an increased shift in allowing everyone to participate in the brands they love and be recognized for their contribution on digital platforms. Successful eCommerce strategies include strong loyalty programs that create value for the customer, but still keeping the brand's own objectives in mind.
How can you apply what we have learned about loyalty programs to your eCommerce strategies?
The past year was not only digital-first but digital-only in many cases. As traditional storefronts had to shut their doors, digital leaders like Amazon have made us question if the in-store experience is really better. Several things have stood out that makes us prefer online shopping over traditional store experiences this past year.
What is key to the digital customer experience moving forward?
The record number of retail bankruptcies in 2020 was driven more by outdated business models than by COVID itself. Digital isn’t really “virtual” anymore, it is our reality! That is why it's so important to stay on top of trends and work to implement the ones that make the most sense for your brand into your eCommerce strategies. When digital integration is done right, customers accept and in most cases prefer it.
Echidna is a leading digital commerce agency with capabilities including strategy, creative, marketing, systems integration, technology services, and managed services. Our team is experts in delivering end-to-end solutions with high complexity for B2B, B2C, D2C, and mixed business models. We are committed to delivering top-notch quality on a predictable schedule and at an affordable rate that our clients recognize the real value in and dedicated to helping leaders continue with their growth and innovation well into the future.