Starting a new business can feel like an impossible mountain at times. If you’re a beginner in the e-commerce business, it is important to know the key obstacles you will be facing so that you can make a plan to overcome them. Scroll down to read a brief introduction of the main issues e-commerce businesses are facing.
One of the biggest issues in the e-commerce business is that of pricing. Many big retailers are now offering free shipping, but smaller retailers often can’t offer free shipping without taking a loss. If a customer finds the shipping costs for a particular item to be too high, it is likely they will abandon their cart and try to find the item from another seller.
Free shipping does not always work for all business models. However, there are a number of creative options that you can try to offer shipping deals to increase your business, even if you can’t afford to offer completely free shipping.
Abandoned carts are a hot topic for online businesses. Mobile shopping carts are abandoned at a rate of over 80%. There are many reasons as to why a customer might choose not to order from an online retailer. Some of these reasons include a need to see or touch an item before purchasing, shipping and/or delivery costs being too high, concerns regarding the quality of a product, and better price or quality being available from another local store or online retailer. Taking steps to mitigate some of these concerns can result in the increase of your e-commerce business’s sales and reduce the number of abandoned carts in your online store.
E-commerce businesses cannot function without customers. One of the biggest challenges for e-commerce businesses is retaining existing customers, as well as converting shopping customers into paying customers. In an online market, it is crucial for e-commerce businesses to employ effective strategies that can help them optimize their efforts inconverting all their leads into customers which will provide them needed revenue.
Shipping and pricing concerns, abandoned carts, and customer retention are three of the main obstacles e-commerce businesses are currently facing. E-commerce businesses who take the necessary steps to understand the reasons behind these obstacles and brainstorm ways to overcome them will find increased success and longevity both now and in the future.
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