While online shopping has been around since the ‘90s, it’s only become popular recently with the introduction of more advanced e-commerce platforms and social media tools. And when the Covid-19 pandemic hit the world, it seemed like it was the only available way to shop. To avoid losing out on sales due to customers visiting your competitors’ websites first, you need to make sure your business is implementing virtual shopping best practices, including easy navigation and payment functionality and fast, reliable shipping methods. Learn more about how to stay competitive in the digital age from this guide on virtual shopping for retail stores. Understanding Why This Trend is Growing The recession forced many people out of their homes and into more expensive rentals, making them think twice about buying products that may not be used often enough. In addition, a significant amount of shoppers from the Baby Boomer generation are now in retirement. This demographic was very prone to making impulse purchases at physical shopping locations. However, as they move on into their golden years, physical retail spaces can’t compete with online stores when it comes to convenience—they are open 24/7/365 and shipping is quick and free for most purchases. For retailers, it’s no longer necessary for all customers to come into a store. Examples of Successful Adoption When they first came on the scene, virtual shopping was mainly used by larger, multi-channel retail chains. From Walmart and Target to Neiman Marcus and Nordstrom’s, these brands have proven that virtual shopping can be a moneymaker when done right. However, many small retailers have also shown that smaller businesses can use virtual shopping as well. By offering customers an easy way to buy products online at any time of day or night while still doing most of their shopping in-store or through catalogs, small business owners stand a better chance of keeping their customers satisfied, which leads to increased sales and greater profit margins for everyone involved. Challenges to Overcome Retailers have come a long way from relying on foot traffic from physical locations to make sales. It’s now easier than ever for retailers to offer customers an online experience that keeps them coming back, even if they never enter a store. That doesn’t mean there aren’t challenges, though. For example, customers always like to make an informed decision based on their physical check-up of the products. If everything is virtual, they may become hesitant to buy if they feel they don’t know enough about the product. To address this, make sure that you give them everything they now about the items — be as descriptive as possible, and provide photos from different angles. While some might consider this as a barrier to entry steep, others consider it another opportunity to be creative with new technologies like augmented reality (AR) or virtual reality (VR). Whatever your business goals may be, remember that getting creative with your products or offerings is key to staying competitive as a retailer. Even at home improvement stores like Lowe’s and Home Depot who have successfully integrated VR into their service offerings – it pays off big time. Considerations in Choosing a Platform A large portion of small businesses sells their products online. The advent of e-commerce has meant that they can reach consumers around the world at a fraction of the cost and time it would take them to open a brick-and-mortar store. Although virtual shopping is convenient, not all platforms are created equal. Consider your options carefully before selecting one. It’s best to try out different types of sites before settling on just one. Look for customer service or product reviews to help you narrow down your selection. Why You Need This To date, hundreds of companies have successfully adopted virtual shopping. As users are increasingly driven toward online shopping portals as a means of convenience and a better browsing experience, stores that do not adopt such techniques will continue to lose revenue—and there’s no guarantee they’ll be able to make it up elsewhere. The post Virtual Shopping: How to Stay Competitive in the Digital Age appeared first on POP FUEL. from http://clipstrip.com/pop-fuel/virtual-shopping-how-to-stay-competitive-in-the-digital-age/
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