For the last couple of years, there has been a great shift towards online shopping and business. Moreover, last year because of the COVID-19 outbreak a massive elevation in the eCommerce graph was seen. Buyers now prefer to shop online and how long this practice will be in the picture its quite hard to judge. Regardless of the pandemic, most people will agree that this sector will continue to grow in the coming years.
As more and more people continue to shop online, the graph of eCommerce competition will also rise. An elevated competition poses a threat to an eCommerce business trying to retain their market share and new users. To run a successful online business in 2021 it is very important for store owners to keep their old customers engaged and bring new customers too. To enhance the customer’s retention it is important for owners to offer the best services and deals to their loyal customers. Wide exposure and promotion of their brand on a large level will help a small scale store owner to target a huge customer base.
Sell on eCommerce business platforms with a wide customer Base:
Who has not heard the name “eBay”, “Etsy” in the eCommerce World? eBay is one of the top leading marketplaces where buyers can get both new and used, but mostly new products whereas Etsy, on the other hand, is an online marketplace where buyers mainly flock for handmade, unique, vintage etc. products.
When you choose to sell on these platforms, your brand gets exposed to a huge customer base. Selling on these successful platforms will open the door of many new opportunities. In addition to wide brand exposure and traffic, you will get a boost in the sales also. Now you must be thinking won’t it be hectic to sell and manage on both the online store and the Marketplace. Yes, you are absolutely right. It’s not only hectic but also time-consuming. It’s then only where the connector module comes into the play. The integrator addon reduces both the efforts and time in listing and managing the inventories, shipping and orders at these platforms.
Using the Integrator, the store owner can connect both the e-store and the platform and manage both of them from a single interface. Connector modules will automatically sync the orders received at the backend of your online shop. Also, inventories can be updated from the single interface itself. A similar type of Etsy and eBay connector module is offered by Knowband to ease your listing and management process.
Upgrade your store into an Amazon-like Marketplace to grow the eCommerce business in 2021
Both the online Marketplace and eCommerce store require almost the same amount of capital for their initial setup. One of the major difference between the two is that in a marketplace the store owner is not responsible for the inventory. On the other hand, sellers don’t need to worry about website development. Sellers listed at the Marketplace get a common platform to list and sell their goods in return for commissions payable to store admin. In a multi-seller marketplace store owners can enrol multiple sellers to sell their stuff. A store owner in a marketplace can earn huge amount of profit by seller commissions and membership plans.
Store admin can approve and reject the seller account request, seller products, reviews and orders from the backend of the store. A simple way to convert the online store into multi-seller Marketplace is by using the Knowbands Multi-vendor Marketplace extension.
Quick or Local delivery
Another way to increase customer retention is by delivering customer orders in the shortest possible time. Transforming the store into the hyperlocal marketplace will ensure a quick delivery. As in hyperlocal marketplace in addition to the normal marketplace features, store owners can get their customers to order delivered in the short span of time. A Hyperlocal service marketplace connects customers with their local stores for quickest delivery. Now you can transform your e-store into a Hyperlocal Business Marketplace in 3 simple steps using the Hyperlocal Delivery Model by Knowband.
The growing number of smartphone users is not hidden from anyone. An average user spends almost 7-8 hours on their mobile phones. Bringing your store at customers fingertips is one of the smartest moves to catch their attention. Get a mobile app created for your store will all the features and functionality of your online site. Features like push notifications, multi-lingual compatibility, social login, quick checkout, multiple payment and shipping option availability make the shopping experience delight full for the buyers. Mobile app plugins by Knowband can create a mobile app for your store in 3 simple clicks.
Online business is soon going to dominate the market and store owners must prepare themselves to adopt all the latest trends and technologies. More and more online stores will start selling online. So its very important to keep your customers engaged and target new audience to choose your brand to survive in future eCmmerce competition.