3 Ways Ecommerce is Innovating
Thanks to DIY ecommerce platforms, barriers to entry for online retail have been reduced over the past few years. However for all these new online stores to remain competitive and sustainable, they must keep innovating.
Entrepreneur published an article by Pratik Dholakiya with 3 innovative approaches that successful online retailers are using to stay relevant.
1. ‘Add to cart’ through social media.
One great example of this is Amazon Cart. When @Amazon tweets an item, anyone on Twitter who is interested in it can immediately add it to their Amazon shopping cart by simply replying to the tweet, adding “#AmazonCart.” Then the next time the person is logged in on Amazon’s site, the item is ready to click and ship out.
Nordstrom, Macy’s and Home Depot are prominent leaders in the “brick and click” innovation. Ship-to-store is when a customer shops online but instead of paying for delivery, they schedule to pick it up in the nearest brick and mortar store, avoiding shipping charges, and in many cases, taking the item home same day.
“Nordstrom pioneered this idea in 2008. They have seen an 8 percent growth in in-store sales and a 42 percent growth in revenues since then,” Dholakiya says.
3. Content-based ecommerce sites.
Shopping online has its limitations. You can’t get a friend’s opinion, ask the clerk penetrating questions nor feel the fabric. Online stores are striving to close the gap with this missing in-store experience by offering a different kind of presentation of the merchandise.
For example, luxury online clothing store Net-a-porter and offers a unique online experience, complete with video, how-to guides, outfit ideas, and a high fashion magazine feel. As a result, shoppers want to spend time there.
The author concludes by encouraging aspiring ecommerce moguls to go ahead and try innovative approaches. “The flexibility and speed-to-market allows you to test new ideas and strategies. The upside is a brand new revenue stream, while the downside is some lost time and effort, at worst,” Dholakiya reasons.
To read the original article in its entirety, please visit Entrepreneur.com.