Dispelling Five Common e-Commerce Myths

July 31 2018 IN ecommerce Dispelling Five Common e-Commerce Myths

Dispelling Five Common e-Commerce Myths

Shopping online may have become a normal part of many people’s routines, but there are still plenty of misconceptions about online selling. Let’s have a look at five common myths relating to e-commerce.

Myth #1: Only Young People Shop Online

According to this Business Insider report, one in four online shoppers is over the age of 55. And, those older shoppers spend more per transaction than their younger counterparts. Yes, millennials (ages 18-24) spend the most online, each forking out about $2,000 USD for online purchases each year, but slightly older adults (ages 35-44) spend about the same amount but are a key market given their higher incomes and larger numbers. So, yes, young people do shop online - which makes sense. They’ve grown up online and feel quite at home there. But 47% of all online shoppers are between the ages of 35 and 54. That’s a huge market, one with a lot of money to spend. Ignoring older shoppers would be a serious mistake!

Myth #2: Online Shoppers Care Only About Price

KPMG reports that contrary to what many believe, shoppers are not primarily worried about getting the lowest price. The number one reason consumers shop online is because it’s so convenient. Shoppers are looking for a great experience. Comparison shopping and using consumer reviews are also cited as being reasons to shop online. These factors all point to the importance of having a great website, one that encourages engagement and discussion.  Great customer support was also named as one of the factors that keeps customers coming back to the same online store. Of note was the finding that younger consumers are more loyal to businesses that personalize their interactions and older buyers really like loyalty offers or membership premium programs.

Myth #3: E-commerce is Killing Bricks and Mortar Stores

Not at all. Consumers continue to turn to both online and offline selling channels for information, inspiration, and purchases. The most effective sales strategies leverage the relative strengths of both the online environment and physical retail spaces. As technology continues to evolve, smart retailers are finding new ways to integrate the two types of shopping experience. Self-checkouts, interactive shopping experiences, and smart technology being used in stores are being used already to boost customer loyalty and improve the shopping experience. Expect to see more of this online/offline integration in the future.

Myth #4: Selling on Multiple Platforms is Too Difficult!

You’ve set up your own online store, you’ve supported it well with great staff, you’ve got your head wrapped around order fulfillment, the paperwork for international orders, and shipping. If the thought of now expanding to multiple online channels has you worried, don’t be. Using a service like Listing Mirror makes online diversification easy. Coordinating inventory and order fulfillment with our multi-channel listing software makes it a snap to take your current product listings and copy them to various channels. Reach out and get in touch and we can have a chat about how we can help you take your online business to a whole new level.

Myth #5: You Need to Spend a Ton of Money on Ads

Well, no. The good news is there’s a lot you can do to market your products online without having to spend a small fortune on ad campaigns (though, strategic use of ads can certainly be beneficial). What you do need to do is make sure your website is SEO friendly and content rich. Start a blog and generate excellent, relevant, usable content that your customers will appreciate. Choose a couple of social media channels you can relate to and then provide regular, quality content that encourages engagement with potential customers. Stay organized. It can quickly get overwhelming to try to stay on top of your online promotions. Create an editorial calendar and know that you are in the online selling game for the long term. Just like in your bricks and mortar store, online sales are about building relationships and looking after your customers well.

 

One of the best things about expanding your online business is the number of resources that are out there to help you.Listing Mirror is one place you can go to help you tackle the piece of the online retail puzzle that involves integrating multiple sales channels. Keep an eye on our blog for other articles that will help you keep your customers happy as you grow your online business.

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