Traditionally, retail businesses sell products through Brick and Mortar stores. In order to increase store footfall and eventually the sales, they go for mass media advertisements like Television, Newspaper, and Billboard. As new strategies like store expansion evolved, businesses realized that promotions alone can never bring tremendous growth. Retailers expanded their businesses by opening new stores or channels of distribution(hypermarket, supermarket, small or independent stores)in locations where product sales are identified to grow multifold. There are a variety of strategic levels for retailers to earn a profit and the most prominent one is the supply chain. Likewise, the physical retail business has grown over a period of time by evolving and adapting to the latest trends. In the advent of eCommerce, the ease of shopping made customers start marching towards virtual shopping. And not just that, customers reception to online shopping is surprisingly effective, resulting in enormous growth in sales and profit. When customers can buy products 24/7 online, the stores that work on minimal hours has become an option for them.
The Growth of E-Commerce in 10 years
The secret of eCommerce Success
If a customer exits an eCommerce site within seconds he entered, it’s a clear message for the online retailer that the buyer did not find a clear value proposition.
The prerequisite to designing an eCommerce website is KNOWING THE ACTIONS/PULSE/INTEREST of your CUSTOMERS. Analyze and predict the buyer behavior to display those categories and products to improve the chances of converting the site visit into a sale. In physical stores, how better the ambiance or products are categorized, it’s seldom possible to customize the racks & spaces for every single customer in a way they love. And, that’s the competitive edge eCommerce businesses have got.
eCommerce is growing every single day in a much faster pace than anybody can imagine. Being agile is the only option for online business owners to thrive in the market and need to constantly evolve by quickly adapting to emerging trends. Businesses could lose the race if they fall behind to deliver the right pricing and customer experience. With a lot of competition in the market, consumers easily switch providers who offer world-class buying experience with irresistible product pricing.
Here are some of the spectacular launches & events happened over the past 10 years in the E-commerce industry.
E-Commerce & Customization – A Match Made in Heaven in 2018
What is Product Customization?
Advancements in the top eCommerce platforms and the related software products that can be integrated with them are now enabling brands to provide customers with an affluent buying experience. Especially, offering customers the ability to personalize or customize the products virtually online or in-store and then swiftly delivering the customized product makes a great impact on sales conversion.
The benefit of customization is reinforcing the customers’ user experience by inviting them to become partners in the product creation process. Simply put, better the user experience, better the conversion rate.
The rise of Strategic Planning
More Alternatives for better conversion rates
Customers hunt for unique and personalized products has never been a misfire. Not every customer is a designer by profession, so all they need to personalize a product is a simplified and seamless process.
Provide them the design options rather expecting them to come up with their own ideas. Choosing a design or a pattern or color and other customization options should happen in a single click. Much easier the product customization is, more the revenue you generate from their visit.
Customer’s Connection to Website
Product customization not just improves sales from the visitor, their product engagement experience gets spread among their friends, colleagues and social community. Another important step is collecting customer experience statistics. The stats you collect can be a great source of inspiration on how you can further expand your catalog and build your brand image. As of today, you can personalize anything from a cup to a car in a seamless way with help of the technologies around. Product customization is gaining popularity among the business owners and most importantly the customers and is still a game-changing strategy for online retailers to improve sales multifold.
Your Customization, We Productimize
Productimize is a 3D product configurator and a product customization platform that provides online sellers and e-commerce merchants with a robust platform that grants their customers total control over how they want their products to look, from custom themes, backgrounds, texts, 360-degree view and more.
With the features of 3- Dimensional view, Unlimited products, High-quality Image rendering, dynamic pricing, and whatnot, Productimize has got all bases covered, giving customers the tools they need to satisfy their customization needs and drive them to make purchase decisions while improving the revenues.
Buying ordinary things online is not as exciting as purchasing a personalized product. Customers who are more likely to buy a product designed by themselves for the efforts put into it and are bound to come back and shop for more.
Reference:
Timeline of eCommerce https://en.wikipedia.org/wiki/Timeline_of_e-commerce
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