The holiday and wedding season is one of the most rewarding times for e-commerce owners in terms of increasing overall sales. With dedicated budgets for gifting their loved ones during festivities, people are always on the lookout for great deals and offers, to go easy on their pockets. With the change in buying behavior of customers due to pandemic, people have become more comfortable making purchases online. Many find it more convenient to shop online because of the expansive range of products that are delivered at home with a single click. Since the enforcement of lockdowns from March 2020, e-commerce spending has grown beyond expectations. The Indian e-retail market is ready to reach 300 to 350 million shoppers over the next four years, driving the online Gross Merchandise Value (GMV) to $100 to $120 billion by 2025.
With the pandemic transforming business forever, there is a large focus on experience-driven e-commerce as consumers are placing a lot of their attention online, especially during festivities. It has now become essential for offline retailers and new e-tailers to begin planning right away by improving their online presence and website experiences to increase conversion rates during festive days.
Technology being the backbone of e-commerce, not only helps in effective customer service management, but can also enhance search, customization, and personalization, which are crucial for the success of e-commerce today. Here are a few tips on how to use technology to help boost your online business sales this holiday season.
Create an e-commerce platform
Keeping in mind customers’ behavior change and preference for digital, businesses are progressively opening online stores to sell their products and services. Tier 1 cities and metros are no longer the dominant focus of e-commerce, with people from smaller cities and towns increasingly coming online. In case a person or business lacks the capital funds required to transform their venture into an online business, they can make use of some affordable solutions like GoDaddy’s Managed WordPress Ecommerce hosting with WooCommerce, world’s most popular open source e-commerce solution for a quick and easy start to build their own online store.
Emphasize on page loading speed
A 2019 survey shows that 57% of customers switch to another platform if the page takes more than 3 seconds to load. Hence providing swift website loading, and response time are of utmost importance. Customers prefer doing business with companies that make their purchases fast, easy and hassle-free. During the holiday season, when there is a surge in online traffic and transactions, e-commerce platforms and companies must ensure a fast loading time within industry standards and as per customer expectations. Hosting the site on a flexible plan on the correct platform can help you manage the increase in traffic without reducing the speed or giving the customer a poor experience.
Boost your social media marketing
Social media has become a most powerful digital marketing tool for businesses. In the last 18 months, consumers have spent a lot of time scrolling through social media to not only to make use of their time, but also to research and make mindful purchases. A Like, Share, or a Positive comment on social media platforms like Facebook, Twitter, and Instagram can enhance the reputation of a business brand and help to develop consumer trust. Locating the right target audience and building engaging posts for them can be key to boosting interest in the business. With tools like Websites+Marketing by GoDaddy, businesses have easy access to a variety of DIY templates to build their website for free, use built-in marketing tools to let people know they’re open for business, and manage everything from one dashboard on any device.
Investment in AI & Innovative Data Tools to Personalize Customer Experience
With an increase in e-commerce competition, businesses are providing an enhanced experience for their customers by using Artificial Intelligence for a high degree of personalization. AI-powered technology can predict what kind of product a customer may be interested in by using Visual searches or past product purchases, and show them relevant products which might interest them. Chatbots, Voice assistance, handling payment, and processing orders can not only give satisfaction to customers, but also drive a personal and trust-based relationship. Such use of technology has bridged the gap between brick-and-mortar stores and online platforms even more.
Minimize Cart Abandonment
Leaving the site without purchasing is one of the top concerns of e-commerce companies today. An average e-commerce store loses 75% of their sales to digital cart abandonment and one of the topmost reasons is the unexpected extra costs during checkout like for shipping charges. Hence during the wedding and festive season, businesses can consider offering competitive discounts to lure their customers. Other benefits like free shipping or no-cost EMI can also give them an advantage. Sending customers an email thanking them for their business and offering them special discounts on their cart products, not only helps generate potential sales but also builds a positive and loyal customer base.
The remarkable growth trajectory that the e-commerce industry has achieved since the outset of the pandemic, testifies the changing behavior and their lean towards online shopping and e-commerce. The wedding and holiday season brings in a golden field of opportunities for both, businesses, and consumers. Hence, making small changes in your business website and service can help e-commerce players take advantage of the opportunities during this year’s festive shopping season.