According to Shopify’s data, Covid-19 has allowed the eCommerce industry to experience the equivalent of 10 years of growth in a matter of just 90 days. This substantial boost was mostly caused because of the thousands of retailers who were left with no choice but to close their stores and move strictly online.
And with people stuck indoors because of lockdowns, 84% of consumers turned to shopping online during the pandemic which caused the eCommerce world to reach an all-time high of a 16.4% increase in total global sales, with no signs of slowing anytime soon.
But while this is good for the eCommerce industry in general, this massive boom in sales has made the eCommerce world more crowded and more competitive than ever.
With More Competition, Comes A Big Increase In Ad Cost.
Data from Shopify has shown that the cost per click from 2020 went from $0.71 cents in January all the way to $1 by July. That’s an additional 29 cents for every click your ads get, or in other words…
This is a 40% increase to your ad spend!!
Pre-pandemic, as long as you had a decent website online you were able to make money, but now…
With So Much Fierce Competition Around, There’s Only 1 Way You Can Compete And Stand Out.
Customers expect their buying experience to be as easy and as intuitive as possible.
Statistics show 64% of customers believe their experience of an online store’s brand is more important than how much they pay for a product or even the product itself.
- 57% will abandon your site if a page takes 3 seconds or more to load.
- 60% will leave your site if they can’t find what they were looking for.
- 77% of users are more likely to purchase if a site shows reviews, testimonials, or more details about how a product works.
All this data just reinforces the fact that your business needs to up its game by creating an amazing buying experience, attracting new customers, and creating an “omnichannel” presence. If you aren’t currently shifting your focus on these things then your business will suffer a dramatic blow and more than likely will be beaten by your competitors.
Businesses who get ahead and focus on products that meet their customers’ needs, source from quality manufacturers, maximize profits with smarter strategies and streamlined processes will be the ones to skyrocket their business success.
But This Is Easier Said Than Done…
This is why it’s common to reach out for help from eCommerce experts. Experts like Zoologic!
We can help you completely optimize your entire store, offering a full suite of digital marketing services for eCommerce businesses of all sizes – from multinationals right down to scaleups.
Our strategic auditing and performance processes identify risks & opportunities to ensure that you have the maximum chance of success possible.
Want to work with eCommerce marketing experts who have proven systems to optimize your store and dramatically scale? Then Zoologic might be able to help, reach out today for a chat.
