Ecommerce sales to hit $8.1 trillion by 2026
LONDON, Aug. 9, 2023 /PRNewswire/ -- Retail ecommerce sales are set to hit $8.1 trillion by 2026, representing huge growth opportunities for businesses.1 But in an increasingly crowded market, online retailers and webshops must do more to compete for customers.
nShift, the global leader in parcel and delivery management software, has released the seven steps to delivering ecommerce success:
1. Increase conversions at checkout – one in four online baskets are abandoned at checkout. This costs retailers some £32bn globally.2 "Lack of delivery choices" is one of the most common reasons. By offering, and clearly badging a range of delivery options, ecommerce companies can increase conversions by 20%.
2. Align with customer values - a staggering 88% of consumers claim to be more loyal to a company that gives back to the world around them.3 Retailers should seek opportunities to show customers that they share their values. They can demonstrate this by providing sustainable delivery options and setting up specific delivery options which automatically trigger charitable donations.
3. Convenience of delivery – despite changes since the pandemic, not everyone works from home. Offering OOH (Out Of Home) delivery alternatives where the customer collects from a parcels shop or locker could be a far more convenient option. For omnichannel retailers, enticing customers back in store to click & collect their parcel is a great way to increase sales as customers make impulse purchases while in store.
4. Keep customers up to date – some 78% of online shoppers will change brands or retailers if they don't receive regular updates on the status of their order.4 Sending shoppers regular and relevant updates in their channel of choice can cut WISMO ("where is my order") calls by 60%.
5. Remarket and upsell – when customers are waiting for their order, they are at their most engaged. Communications around their delivery are much more likely to be opened than other messages from retailers. Incorporating marketing messages into these communications can help retailers build revenue. In the post-purchase journey there is a much higher propensity for customers to make additional purchases when clicking back to the retailers website.
6. Convert returns to exchanges – a digital returns process, with a consumer-friendly interface makes it easier to offer people exchange options, which can mean retailers don't lose their revenue on returned items. nShift's Returns solution typically helps businesses convert 30% of returns to exchanges and at the same time creates additional opportunity to remarket and upsell.
7. Analyze, adapt, improve – running a digital delivery process creates a wealth of data that is easy to analyze. Ecommerce companies should use this to improve marketing, operations and customer journey personalization. For example, looking at trends in sent-back items could help teams identify and rectify common problems, reducing returns over the medium term.
Ensuring that companies stay on top of their environmental and reporting requirements is also critical to delivering ecommerce success. Later this year, nShift will launch Emissions Tracker. The solution will help ecommerce companies and warehouses calculate, record, and analyze greenhouse gas emissions for every shipment. It will make it easier to measure and report on the success of environmental strategies.
Lars Pedersen, CEO at nShift, said, "When it comes to online shopping, consumer expectations are higher than ever before. Delivering ecommerce success means providing the best possible customer experience. And the delivery process is a crucial part of that experience.
"With nShift, online retailers can create a seamless delivery experience from checkout to returns. They can build loyalty with their customers, create new opportunities to upsell and gain crucial data that will drive improvement in their marketing and operations."
nShift is the global leader in delivery management software. Its solutions enable frictionless shipment and return of almost one billion shipments across 190 countries annually. nShift connects customers to a library of over 1000 ready-made carrier connections.
About nShift
nShift is the global leading provider of cloud delivery management solutions enabling frictionless shipment and return of almost one billion shipments across 190 countries annually. nShift's software is used globally by e-commerce, retail, manufacturing and 3PL shippers. The company is headquartered in London and Oslo. It has over 500 employees across offices in Sweden, Finland, Norway, Denmark, United Kingdom, Poland, the Netherlands, Belgium, and Romania.
[1] https://www.businessgo.hsbc.com/en/article/global-ecommerce-top-trends-in-2023
Logo - https://mma.prnewswire.com/media/1782566/nShift_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/nshift-seven-steps-to-delivering-ecommerce-success-301896801.html
Voltar noticias em Inglês