This year, 2022, will bring with it many sales events which are likely to be the most lucrative ecommerce days in the ecommerce calendar ever. According to Deloitte, ecommerce revenue is likely to rise 10% compared to the same period last year, reaching somewhere in the region of $210 and $18 billion. Over the last few years, the importance of ecommerce has grown dramatically. Ecommerce makes up 20% of retail sales in the U.S. and 40% of retail sales excluding groceries in the UK. The question is, is your ecommerce store ready for Cyber Monday?
Many ecommerce businesses are simply unprepared for the deluge of demand that they may face during the nation’s traditional shopping season. Traffic could be great enough to knock some websites out of action. A lot of ecommerce leaders are worried that they lack sufficient vendor support, do not possess a truly scalable business model, may face loads of downtime and that their security may be compromised during this period. All these are massive concerns to have with so little time to do anything about it.
Many e-tailers have simply not found a solution to address these problems. This is especially alarming when you consider that the bulk of revenues generated by most ecommerce sellers derives from these few days in the calendar. If they cannot function at their best during this five day period, they will end the year at a loss, with some facing closure. These are big stakes. It is so important that e-tailers find solutions to these problems so that they can meet the expectations of their customers during this period, and so that they stand a chance at converting a good proportion of the traffic they expect to get, into actual, paying customers.
The pandemic accelerated a long-term trend in which ecommerce has become an increasingly important segment of retail. The industry was already massive prior to the pandemic. In 2019, for instance, the industry earned $600 billion in revenue, or 10% of retail sales. In 2020, ecommerce revenue jumped 32% to $794.5 billion.
Consumers are attracted by more than just the speed of transactions. That is no longer a selling point in ecommerce. Everyone is fast. Consumers are looking for ease of use through tools such as search functionality. Solutions such as Elasticsearch are crucial to providing consumers with enhanced search functionality. Research shows that 43% of ecommerce shoppers go straight to the search bar and spend twice as much as those who do not use the search bar. An incredible 68% of online shoppers will not return to an ecommerce store that has poor search functionality. If a customer wants to shop, best medspa franchise, they expect to be able to find them through the search button.
Most online shoppers shop from their phones. Your online store has to be mobile-friendly. Mobile is where customers are. Desktops remain important but growth is with mobile. You have to be able to deliver a fast, mobile-friendly, and amazing user experience, so that your customers are enticed into shopping on your online store.