A Guide to E-Commerce for Brands
Tailor your e-commerce strategy to capitalise on the online shopping boom
E-commerce has been growing steadily for a number of years, but 2020 saw a step change in the amount of shopping done online. Driven by the Covid pandemic, between five and ten years’ growth happened in ten months, according to the e-commerce software company, Channel Advisor. The result is a huge opportunity for brands, in the shape of direct-to-consumer (D2C) sales, but also a significant set of challenges.
This is the starting point for Channel Advisor’s latest e-book, A Guide to E-commerce for Brands. It looks at the current online trends and how they are affecting brands, how brands are developing their e-commerce strategies, and the rise of both D2C sales and third-party marketplaces.
The e-commerce boom continues
In the UK alone, online sales were predicted to increase by £5.3bn to £78.9bn. In the US, ecommerce now accounts for almost a fifth of all retail sales. Just as importantly, this change in shopping behaviour looks likely to continue beyond the end of the current crisis. Channel Advisor’s own research in August 2020 showed that over half (55%) of UK shoppers surveyed said they would buy more online in the future than they had before the pandemic.
At the same time, mobile has risen to become the main way people access the internet, and was predicted to take the majority of total UK retail ecommerce sales in 2020 by eMarketer. According to Channel Advisor, the results are that customers are always shopping, either actively or passively, and their journeys are becoming much more complicated. But they still expect every interaction at every touch-point to reach the standards of customer experience set by ecommerce giants such as Amazon.
Tailoring your approach
When it comes to e-commerce, one size doesn’t fit all. Every company will be at a different level of maturity, with different brand objectives and a different set of customer journeys. What is more, technology, customer behaviour and the e-commerce industry itself will continue to change and evolve. To succeed, companies need systems, structures and partnerships that are both robust and flexible, and that are tailored to their own requirements. But each one will be built by thinking about the same set of issues, and answering the same set of questions.
To learn more about how to develop an ecommerce strategy for your company, download Channel Advisor’s free e-book A Guide to E-commerce for Brands by filling in the form.