Retail Analysis
What it takes to thrive in a multichannel eCommerce sales world
Alan Chester, VP of eCommerce at Luzern explores how to be successful in a multichannel sales world.
F
ueled by the pandemic, changes in shopping behaviour have touched virtually every corner of the globe. In fact, the UK is experiencing the fastest
eCommerce growth rate in the past decade. With up to 87% of UK households making online purchases in 2020, eCommerce sales grew by 46.1%. Although this represents the highest eCommerce purchase penetration rate in the last 11 years, UK online shopping is forecasted to grow an additional 34.5% by 2023. As these figures indicate, the UK eCommerce market is
poised to experience unprecedented growth and the consumer electronics space is no exception. Today eCommerce sales in this segment account for 33% of total sales. According to Statista, in the Consumer Electronics segment, a whopping 43% of total market revenue will be generated through online sales by 2023.
Take online sales to the next level In the UK, shoppers generally prefer to make purchases from eCommerce marketplaces rather than directly from brands. This makes it imperative for consumer electronics’ brands and retailers to reimagine their eCommerce sales strategies in order to be part of what experts predict will be a $1.787 billion industry by 2024. Today, many consumer electronics’ brands and retailers lack an end-to-end eCommerce solution. This is a necessity in order to attract buyers, convert browsers into customers, fulfil orders, deliver products purchased, and provide exceptional customer service for online purchases. To be successful in our multichannel sales world, the long-term
viability of consumer electronics brands rely on the following seven strategies:
6 | February 2022
1.Optimise product listings to attract buyers: While product feeds (or product data feeds) are used to varying degrees by all industries, it’s an essential component for the success of online consumer electronics sales. A product feed is a file that consists of all of your products, product details, product images, marketing copy, product attributes, etc. Content quality and optimisation of product listings are critical in building brand equity and developing customer loyalty.
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