Retail Analysis
trend is being encouraged by social media platforms that are optimising in-app eCommerce features. For example, Instagram recently launched an in-app checkout, which is already showing success.
6. Reduce Cart abandonment: Based on eCommerce studies, shopping cart abandonment rates continue to be high, with the average between 68.8% and 74.5%. Although buyers with low- value orders are more likely to abandon their trolley, the most common reasons for abandonment include higher than anticipated shipping costs, complicated ordering or checkout processes, long delivery times, and websites that are either poorly designed or lack functionality.
To reduce trolley abandonment, brands should inform customers
at the start of the shopping journey of shipping costs and other fees. In addition, by using the data you collect you can track abandonment, benchmark these figures and experiment with A/B or split testing to make changes that will reduce abandonment rate.
7. Determine the right eCommerce marketplace: With more than 60% of product searches beginning on Amazon, this marketplace can’t be ignored. Regardless of your industry, brands and retailers are unlikely to survive if consumers can’t find their products on Amazon. However, selling on this platform is not without inherent difficulties.
Research determined that of the nearly 70% of UK online
shoppers, more than half prefer to buy from eCommerce marketplaces, with Amazon being four-times more popular than retailer sites and apps. To meet consumers on their platform of choice, brands need to have a presence on Amazon or risk financial decline.
Overcome the challenges of selling on Amazon Whether selling direct to Amazon (first party sales or 1P) or selling through third-party vendors (3P), brands face a multitude of challenges, which is making it difficult for them to remain viable and profitable. While the challenges are not a new phenomenon, the pandemic, which has given a rise to online shopping, has
8 | February 2022
3. Although 80% agreed that eCommerce is vital to their digital transformation, 40% cited that navigating the ever-changing landscape as problematic.
4. 40% are encountering problems in reaching their target markets.
5. Over one-third (39%) encounter difficulties in being able to competitively price their offerings. Although more than 86% of eCommerce decision makers agree
that selling on Amazon is critical to their long-term survival, the complexities of the Amazon platform continue to create barriers that are prohibiting brands from reaching their goals. Thriving in today’s eCommerce world requires the right
Amazon strategy. To address the complications of selling on Amazon, brands are increasingly embracing a hybrid 1P and 3P sales approach. By harnessing the power of this strategy, brands are able to achieve a level of autonomy that was largely elusive with just a 1P sales approach. The flexibility of the hybrid sales model is giving brands more
control over their products and pricing, while protecting their 1P relationships. By partnering with an Amazon specialist, brands can quickly adopt the latest technologies, which aids in future-proofing their business against the ever-changing eCommerce landscape and providing them with a competitive advantage.
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made it imperative for brands to be on their target market’s platform of choice. Recent research found there were several frequently
encountered issues that brands have the most difficulty in overcoming, which are listed below, as well as the strategies needed for them to remain competitive.
1. Almost half (45%) of eCommerce decision makers said that gaining and keeping control of their brand on Amazon is challenging, and more than 50% stated that navigating Amazon is extremely difficult.
2. 42% of respondents highlighted the importance of being able to set AOV that aligns with their pricing strategy.
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