Is maintaining success as simple as investing more in digital and riding that ecommerce wave? We would argue not.
Yes, more consumers are buying online than ever before, but this also means that more brands are online, making the environment much more competitive.
With the continued rise of ecommerce traffic, brands will need to work harder to stand out and ensure they have real clarity in their messaging, offers and propositions. The biggest risk for brands is to become complacent and believe that heavier online consumer behavior will naturally drive sales.
The pressure to blend brick and mortar experiences with digital ones, like buy online, pick up in store (BOPIS) is continuing to increase. According to both Forbes and Adobe Analytics data, BOPIS orders increased by 208% from April 1st to April 20th, 2020 from the same period a year prior.
But while consumers are shopping online more and more, that doesn't mean they're willing to wait on the often unreliable shipping timelines that are plaguing the industry. Getting people what they ordered online today isn't easy — and the operational investment in omnichannel fulfillment is substantial.
Brands must make sure that their investment pays off. This means ensuring the offer not only gets eyeballs, but stands out against competitors in both speed and execution.
Another trend that’s drafting the surge of ecommerce shopping is mobile advertising and mobile ecommerce.
If you look at the growth of digital advertising over the last 20 years and the projected growth, it comes nearly solely from mobile. Now, you might be asking yourself “why is this relevant to ecommerce?”
Well, if you think about visiting Amazon on your phone vs on your laptop, you will naturally see less products on your phone. This puts even more emphasis on brands to stand out in this competitive environment and take advantage of advertising or sponsored positions in what is now the most cost-effective way to drive sales.
Our advice? Don’t assume the ecommerce shopping will tank once we’re cleared of the pandemic. Pandora’s box has been opened to a world of even more on-demand shopping, and you need to be where your people are.
As technology advances, the ecommerce space is bound to become more and more competitive — the world’s recent series of lockdowns and quarantines caused by COVID-19 have only boosted our already increasingly digital world.
So adapt and pivot your strategies rather than becoming complacent and waiting until this passes. If you haven’t already, dive deeper into your mobile advertising and ecommerce opportunities and listen to your audience to find what resonates with them.
Author: Ernie Collings