Take Advantage of E-commerce: What’s in Your Cart?

As most of us know, shopping online dates as far back as the 1990s with the launch of the World Wide Web. While it is clear that the pandemic deeply affected our lives, it simultaneously altered our behaviors which, in this case, influenced e-commerce trends. Its slow and steady growth is now a thing of the past as online sales has since emerged on a global scale.

While in-store shopping was a privilege for the silent generation, baby-boomers couldn’t get enough of it as they were the first generation introduced to credit cards. From then on, the retail experience was deeply anchored within all consumers. Shopping in-store was a lifestyle and experience satisfied by a need and desire until e-commerce facilitated the process. Shoppers researched products before buying in-store therefore decreasing store traffic and converting window shopping into online browsing.

Big box conglomerates quickly got on board and embraced the “coming of the online ages”, which fortunately for them, sustained their businesses. Small and mid-sized businesses (SMBs) however, knew that e-commerce was something to consider but the financial means delayed and prolonged the transition. That sense of urgency did not arise until the pandemic hit the globe. SMBs, were and are, compelled to review their selling model and reconsider online sales in order to reach their customer and remain relevant, after all, e-commerce is a not-so-evil twin of Brick-and-mortar. Shoppers alike, had and have little to no choice but to review their buying habits in order to shop safely.

Choose E-commerce to Stay in the Game

For SMBs who have not jumped onto the e-commerce train, it can be rather daunting to get in the game and therefore compete against the larger companies who have already established their online presence. A shop that has managed its business the same way for years may find it difficult to adapt to and tap into the e-commerce market, however, customer demand and the need to stay afloat, may in fact dictate it.

The process itself can be overwhelming to figure out and may raise several questions: where do I start, is my business model good enough for e-commerce, how much will it cost, am I too late to join the game? As the old saying goes, better late than never! For those SMBs who are just getting their feet wet and have general web knowledge to test out an e-commerce platform, there are many solutions out there to support them in their online venture, however, there are several elements to take into account.

Here is an E-commerce Checklist to Consider:

Gather your needs:

• Select product categories and SKUs to be showcased
• Story telling relevance for the overall experience
• Determine which countries you are serving and in which languages
• Anticipate expected traffic and transactions

Establish your branding and positioning:

• Assure you have a strong brand awareness
• Manage your social media platforms to promote your brand
• Ensure that you have a captive audience and substantial client database
• Develop a campaign strategy

Evaluate your readiness:

• Accurate inventory position and pricing
• Access to quality product descriptions and images
• Capacity to send bulk SMS and emails
• Knowledge to manage SEO and programmatic

Verify your financial and operational capacity:

• Access to capital or loans
• A credit card for online services
• Qualified internal resources to meet the demand
• Support from reliable partners and suppliers

Choose a platform, based on your needs and financial capacity:

• Consider demo pages from known e-commerce platforms
• Plan for logistics: inventory management, pick pack and ship
• Factor in domain, hosting, templates, plugins, service and site fees
• Anticipate the content creation, design and technical skills required

Types of E-Commerce Platforms for Your Business

Once you have a clear idea of your e-commerce expectations and requirements, you can research the different platforms that will fulfill those needs. Shopify is an e-commerce platform best suited for small and medium businesses, offering a varied selection of templates to choose from, making it easy enough to get started with a robust online store. With their accessible drag and drop tools, platforms like Squarespace, Wix and Weebly are extremely user-friendly for Startups just getting out of the gates whereas Magento, on the other hand, is a highly customizable and secure platform that appeals to retailers that carry thousands of SKUs and wish to create their own, unique, shoppable experiences. WordPress online merchants can find compatibility in WooCommerce designed as an open-source plugin, making it easier than ever to implement e-commerce to an existing WordPress site.

You are Now Ready for Checkout

While there are several platforms to choose from for the different stages of your e-commerce journey, the task can quickly become overwhelming and time consuming for most. Is it a project you can manage on your own? Do you need to hire new qualified resources? Maybe it's simply time to turn towards a digital agency for guidance. Skilled experts can support you throughout the project or manage it completely so that you can keep your focus on strengthening your relationship with your customers, furthering your reach and sustaining your business. Put that in your cart!