In the last few years, there have been a large number of things that have led to drastic changes in the retail landscape.
According to Forbes , ecommerce will account for 20.4% of global retail sales by the end of 2022, up from only 10% five years ago. COVID-19 sped up this trend, with stay-at-home orders forcing consumers to shift their purchasing behaviours and shop more online than they might have before.
While there are no crystal balls to predict the ebb and flow of the market through disastrous events like a pandemic, there are a number of ways you can prepare your company to adapt and scale. By strengthening your company today, you’re future proofing it for tomorrow.
How to grow ecommerce business
When it comes to scaling up with ecommerce, not all solutions are the same. You want to make sure that you have the support and technology in place to serve your customers easily and efficiently.
Our secure ecommerce payment processing solutions and value-added services have been designed to work for companies of all sizes. These solutions include:
- Virtual terminal - Create a web-based payment card terminal.
- Ecommerce fraud - Protect your business from ecommerce fraud.
- Ecommerce platforms - Quickly build and launch an online store and accept online payments.
These solutions will help you create a strong online system to handle payment processing.
How to grow your business on social media
If you build it, will they shop? Well, that all depends on what steps you take next. According to Buffer, 77% of people use social media to learn more about a product or brand.
Insider Intelligence reports that half of all U.S. adults made a purchase via social media in 2021. That’s a major audience you should have looking at your business. We highly suggest expanding your ecommerce into the world of social commerce.
With ecommerce functionality built into almost all of the main players in the social space like Facebook, Instagram, TikTok, and Pinterest, these platforms all showcase different ways for consumers to shop in-app.
You can integrate your ecommerce product feed with these platforms and tag specific products or services in your social posts that users can click on and purchase immediately.
Platforms such as Pinterest and Instagram now offer specific “shopping” tabs in their apps so customers can browse products from companies they might not be following already.
This gives your business an opportunity to reach new audiences who might not be aware of your products just yet. Do you want more inspiration on how ecommerce can plus up your profits? Check out the ways these five companies are leading the pack according to Marketing Dive.
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