The pandemic changed the way we shop things. Online shopping became a necessity rather than convenience during the crisis and more and more people are shopping online even today. Though online commerce witnessed a huge expansion in the past few years, these added advantages invite some of the major challenges for businesses that need immediate action.
It is estimated that by 2040 about 95% of purchases will be made online, so now is the right time for physical stores to move online and face the e-commerce challenges and create an edge above their competition. With customers constantly shipping only, it opens doors to many businesses and entrepreneurs.
In this blog, we’ll talk about what are the major challenges for e-commerce and what measures should be taken to tackle them.
5 biggest e-commerce challenges & possible solutions to overcome them
1. Attracting the ideal customer
Research says that about 81% of buyers research their products online before making any purchase decision.
Since there are a lot of options for your potential customers to choose from, it becomes very challenging for businesses to attract the perfect customer. For instance, if a buyer has to purchase shoes, there are a lot of marketplaces and online brands that offer the product but the question is what are you doing differently to hook that particular customer?
With new brands descending into the market, it has become very critical for brands to keep up.
Solution: Make sure you are marketing your brand the right way. Try solving the problems faced by your potential buyers and market your solution extensively. You can also hire a digital marketing expert and target your ideal customers through online marketing. You can also make sure your website is highly optimized and conduct A/B testing on your site to see what’s working and what’s not.
2. Increased competition
Since customers are moving from in-stores to online stores, you need to ensure they are drooping by with some expectations that your brand needs to fulfill in order to convert them and make them your paying customers.
Modern-day customer expects
Solution: Make sure you don’t disappoint your potential customers with your strict return policy. You can win their hearts by delivering products free of cost and offering various deals and cashback to convert and retain them.
3. Customer Experience
Customer experience is one of the most crucial challenges for any e-commerce store. You should know that modern-day customer care is no longer patient, they look for instant solutions and gratification. Whether it’s website loading time or the user experience, make sure everything is user-friendly.
Solution: There are multiple ways to improve the consumer experience. You can keep your website simple and clean by minimizing the distractions, putting clear CTAs so that your customers know what is ahead and what needs to be done, and improving your page speed.
4. High-quality product images
High-quality images are one of the crucial challenges for all e-commerce brands. Creating studio-finish at scale in the fastest TAT and at a highly affordable cost is another challenge. Post-production makes the whole process time-consuming and highly expensive but are there ways to overcome these challenges?
Solution: Yes, a lot of global brands are adopting tech to scale their visual content in bulk. For example, brands like Amazon, Flipkart, Groffers, Bigbasket are using Spyne’s AI tech to create high-quality images that drive conversions by 40%. The AI tech enables them to create marketplace-ready images instantly at 1/4th of the cost. Using these high-quality images, you can provide a detailed look at your products to your customers, therefore, elevating your customer experience and helping them make an informed decision.
5. Cyber & Data Security
Cyber security is a challenge for any business, however for e-commerce, it is one of the crucial challenges since there’s a lot of data at stake. Any sort of breach can paralyze the business and could disrupt your operations remarkably. Not just that, customers are also on the verge of losing their important information, which they share with you with trust. Losing data like that can create a heavy trust deficit in your potential customers.
There are several measures you can take to protect your business from any breach. To protect your brand image, you need to take some serious measures to protect your brand and your customers. Make sure you are not facing any sort of security breach, also back up your data to make sure that you are well prepared for any circumstances.