Give your customers what they want with a commerce strategy powered by Episerver
Today, customers demand the ability to complete transactions online and this expectation now extends far beyond books, clothing, electronics, and consumer packaged goods. Yet the majority of the companies out there have yet to get on the digital commerce train. Some prefer to be more traditional, some are intimidated by technology, while others just don’t see how an online marketplace will benefit their customers, and therefore their business. So with that in mind, let’s learn how you can bring more power to your customers, and what this could mean for your overall business growth.
Getting the most out of your business
Over the last few decades, we’ve seen a significant shift in power along the typical supply chain, all thanks to data-driven business practices. The more options and variety the customer experiences, the more specific demand they have on the retailer, and therefore the manufacturer as well. With big data, there is little room left for companies to a take shot in the dark. Instead, they can make hyper-calculated, data-driven inventory forecasts based on what their customers really want.
Whether it’s one thousand online transactions, or 100 million, the implementation of an e-commerce strategy can reduce costs involved in your operations. Most importantly, this reduction will simultaneously serve to streamline your business, accelerate overall growth, and ultimately bring more power to your customers in the process. A recent report cites that 51% of Americans consider online as their preferred method of shopping. This number is only expected to increase in years to come. With this transforming online shopping landscape, it’s paramount to keep up with the channels your customers buy from the most.
Big name companies jumping on the e-commerce train
It should be no surprise that I bring up Amazon here, not just because it’s the leading online marketplace right now, but also because Amazon’s impact on the online shopping landscape has incited several other businesses to follow suit and invest heavily in their respective e-commerce strategies.
In particular, Kroger has become eager to take back its share of the grocery market from Amazon. Kroger plans to do so by investing billions in its e-commerce platform for grocery sales, called Restock Kroger. Kroger has even gone as far as to look into artificial intelligence and machine learning to even further enhance these online store capabilities. This is a big move for Kroger, as online grocery sales are predicted to make up 20% of all grocery sales by 2025, just one of many examples of how a capable e-commerce strategy can help you gain a larger share of market.
On an even larger scale, retail giant Walmart recently expanded its e-commerce capabilities as well, and the results are incredible for business. Walmart’s e-commerce platform is flexible enough to include a multitude of 3rd party vendors, and this recent expansion allows for even more companies to enter its online marketplace (bringing over 65 million more units to the platform). It’s impressive that Walmart’s platform can manage all of this product data, but what’s even more impressive is the 67% surge in online sales it generated in just one quarter!
Even though these companies have been established in different areas of retail for decades, it should be noted that e-commerce always seems to be on their radar as something to develop. If these titans are spending resources to expand their respective e-commerce capabilities, then it might be a good signal for your company to start doing the same.
Implementing e-commerce: bringing more power to your customers
If you’re starting to see how beneficial an online marketplace can be for your business, you may be thinking of the best way to create one. But wait, maybe you don’t know how to code, or you don’t quite have the funds to hire a developer! It’s all right, there are established e-commerce platforms that are suitable for any business.
Episerver is one of the most prominent e-commerce platforms on the market, and it has a proven track record of boosting revenues and overall customer experience for businesses everywhere. The best part? It’s incredibly user-friendly and super flexible. Whether you sell boots or boats, Episerver is designed to give you total control over which digital elements you want to include on your e-commerce platform, and which ones you don’t.
The incorporation of this platform, or another similar platform, is highly beneficial for a business looking to get involved with the e-commerce space. Not only will it allow you to reach customers who may not have done business with you otherwise, but it also helps you learn more about the possibilities of e-commerce through its easily-grasped, yet highly effective, digital commerce tools.
Luminos Labs and e-commerce
Luminos Labs has been a proud partner of Episerver for years, and as such we’ve developed great experience helping companies incorporate the platform into their distinct business models. We’ve also cultivated general experience in building helpful digital tools for e-commerce. If you’re interested in taking your company to the next level by bringing more power to your customers, then we’d love to hear from you. Remember that there’s no cost or expectations associated with initial consultations.
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