E-commerce seems to be eating up the retail world right now.
We’re seeing longtime brick-and-mortar retail brands closing or going bankrupt that we never would have expected to see disappear ten years ago.
Take Toys”R”Us for example. After more than 60 years in business, they are liquidating and closing all of their remaining U.S. stores.
On the other hand, the digital world is an exciting place to be, with business owners starting their very own digital brands and competing in the digital marketplace.
Most brick and mortar stores have been forced into creating an online presence.
But it isn’t always easy to hit it big online. You have to know what some of the trade secrets are if you want to make it to the top.
Here are the five most important factors for success in e-commerce that you can’t afford to ignore.
First, let’s talk about why so many e-commerce businesses struggle in the first place.
Why many e-commerce businesses struggle
There are many common reasons for the e-commerce struggle, and stores in different industries will face different hardships.
But there are some general battles that all e-commerce businesses have to fight.
Around 80% all e-commerce businesses fail. And there are three common reasons why customers are likely to leave you in the dust:Customers don’t know how to use your site
Product value isn’t clear
Navigation is difficult
Have no fear. The solution to solving these problems may be simpler than you think.
For starters, people aren’t judging your business initiatives or products on their own merits. Customers simply want what they want when they want it.
And sometimes, their expectations can be pretty high. Especially online.
If you have too many shipping options on your site, you’ll deter customers who want their products quickly.
As many as 80% of American shoppers say that shipping price and speed are very or extremely influential in determining where they shop.
That’s why you should offer fast and free shipping when you can, like apparel brand Shongolulu, which offers free shipping on orders that are $30 or more.