Retailers Doing Better
Online retailers doing better Forrester says emphasizing further that web retailers have definitely outperformed other businesses recently
. This shows clearly that the bright side of retail is definitely e-commerce that has survived the economic turmoil and stands established on its low pricing and innovative marketing skills.
Though price plays a major role it is not the only reason for online retailers doing better. Many retailers have reset their goals with changing times. They have realized that the best way of ensuring long term growth is to survive this downturn and have used new dimensions and marketing initiatives to ensure sustained consumer interest.
Online retailers are focusing more on the competition around and are increasingly adopting innovation and enterprise to stay on top. E-commerce is advancing by leaps and bounds. Web retailers spend a lot on IT providing various easy payment options for users such as zoom and credit card. Investing in payment methods like this can be of great value for retailers.
Online retailers are doing better as more and more manufacturers become aware of the importance of powerful online presence. Today we can find a host of brands offering their loyal customers ease of online shopping with easy payment options. According to research statistics at least one third of E-commerce revenue is generated by websites hosted by the manufacturers directly.Plus manufacturers today offer value-added content and extended assortment.
Another important reason for online retailers improved position is their direct involvement in social media marketing. In fact most of the retailers who took part in the State of Retailing Online Survey have been associated with social media to their advantage. However many feel the returns are not yet really clear but continue the strategy because everyone does. However at least one third of retailers do feel that social media is one of the most effective platforms that offer value and have helped enhance business opportunities to a great extent.They also reiterate that social media is a platform that helps attract a number of customers and retain them for a long period of time.
Retailers are also choosing the right products that are in demand. There is no sense marketing something outdated and expecting to sell. For instance mobile phone is a segment that is definitely recession proof. Companies that recognized this made good profits offering Internet access through mobile devices. Many people are now shopping right from their mobile phones.
The successful online retailers are those who know how to identify demand and use the right marketing techniques to attract customers. They also know how to retain existing customers by offering a variety of interesting schemes and discount packages. Online retailing has survived better than any other segment through the recession. Innovation enterprise easy payment options customer service effective communication and a host of other factors distinguish retailers doing better and those who fail in their endeavour.
by: Jane Dawson
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