The online shopping industry was growing at a healthy rate until the COVID-19 pandemic arrived. As consumers were forced to stay indoors, they turned to their digital devices to shop and interact with their favorite brands. The e-commerce explosion was a surprise at first, but it has since led to cutthroat competition in an oversaturated market. Here are the five e-commerce challenges that business owners will face in 2022 and how you can stay ahead:
Living up to customer expectations
Today’s customers are spoiled for choice, and they won’t mind taking their money someplace else if you fail to deliver on your promises. Customer expectations have risen to the point that small e-commerce stores must double down on their brand identity and create an omnichannel shopping experience.
How to solve it: Identify the shopping preferences and communication channels your customers love the most. Integrate them in the customer journey, to improve customer support resources and focus on personalization to make them feel valued.
Strengthening data security
Cybersecurity has been a major issue for small businesses in the last few years. Phishing attacks, malware attacks, and credit card information leaks are on the rise and e-commerce stores need to strengthen their data security in order to provide a seamless customer experience.
How to solve it: Start verifying each purchase with unique links, use HTTPS protocols, firewalls, and your own servers to process information. Complying with PCI DSS standards and using a secure payment gateway processor are important to mitigate checkout page attacks you can do this by researching the best and most credible credit card payment processor. In addition to this, you should also train team members about cybersecurity and regulatory frameworks.
Overcoming cart abandonment issues
For e-commerce businesses, cart abandonment issues are major challenges in their growth. From higher costs and confusing layouts to the recent global supply chain issues, businesses must address the roadblocks in the checkout page.
How to solve it: Start with streamlining your cart and checkout page user experience. It’s a great idea to add helpful guides, break down costs and shipping terms to help users clear out any doubts. You can encourage them to place an order by offering them a discount on abandoned carts. Here are a few abandoned cart text message examples that should help you drive more sales.
Staying ahead of competitors
One way to make sure a customer chooses your product over competitors is by staying one step ahead of them. It’s cheaper to retain a customer than gain a new one, which is why you should focus on your customer retention strategy.
How to solve it: To build customer loyalty, use a unique and consistent brand image across sales channels, websites, and social media platforms. Understand the needs of your customers and tailor your products according to that. Don’t forget to add valuable content and use email newsletters to nurture customer relationships.
The e-commerce market has grown exponentially in the past few months. While this is good news for consumers, business owners are now struggling to market themselves and acquire customers. By following the steps above you can set your business up for success.