8 Ecommerce Growth Strategies: How to Win Users’ Hearts and Wallets?

Having a holistic ecommerce growth strategy has never been more important than now. Over the last few years, ecommerce sales have hiked and are expected to double again by 2026. For ecommerce companies to thrive in the upswing, they need to become indispensable to their customers through a laser focus on new, more competitive approaches.

New-age strategies of ecommerce require companies to place digitally-enabled commerce at the core of their operations, creating seamless experiences that exceed evolving customer expectations. But while some companies generate record-breaking profits thanks to digital-first experiences, others fail to achieve ecommerce growth through digitalization.

Let’s see how to grow an ecommerce business despite a perfect storm of market conditions and, more importantly, how to plug digitally-driven commerce into your new growth strategies.

4 factors that necessitate the improvement of an ecommerce growth strategy

Back in the day, businesses got by with a bolt-on approach to their ecommerce lines. However, an afterthought strategy for ecommerce has been rendered ineffective as new variables came into the picture.

Competitive pressures

Today, both B2B and B2C companies find themselves in a situation where competition is growing faster than the market is expanding. Digital natives with commerce dexterity and start-ups with innovative business models threaten the status quo, leaving most old-school retailers behind. Old ecommerce growth tactics don’t open new doors anymore.

Fast-changing customer behaviors

Ever since the pandemic, customers have been rewiring. Today’s customers want to be met on their terms, not the reverse. They want companies that are ready for purchases at any time, any place, and any way they want.

Over 70% of customers even shop in micro-moments, while doing something else. It means that high-performing ecommerce growth strategies should help shape those rewired behaviors, offering availability and convenience to always-on shoppers.

Sky-high customer expectations

In a world of disruptions, consumers are seeking less to zero friction. Therefore, successful strategies for ecommerce should identify, isolate and eliminate the many frictions that get in the way of smooth experiences. This includes meeting consumers in both physical and digital spaces, optimizing retail prices, covering gaps in supply chains, and reducing delivery costs.

Massive advances in tech and data

The advent of Big data, artificial intelligence (AI), and 5G has reimagined detached consumer experiences of the past. Modern digital ecommerce solutions now bundle the latest tech advancements that unlock interactive and personalized experiences. New technologies also prepared the ground for end-to-end automation that saves costs for both B2C and B2B commerce. And if you’re not adopting any of these, you’re in the back row.

New-age ecommerce strategies should factor in the new reality, enabling easy scalability and adaptability for future disruptions. Technology will become the critical enabler of those experiences.

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