10 BEST PRACTICES YOU SHOULD IMPLEMENT TO BECOME A COMPETITIVE E-COMMERCE RETAILER

Is healthy competition the best way to improve your business?  Although it can help, you really need to stay in the minds of your customers.

Have a competitive edge in e-commerce

There are many positive aspects of starting an e-commerce store when choosing what type of retailer you want to be.  Since e-commerce is flexible, scalable, and can sell anything from anywhere, your market is bigger than you think.  This type of competition is very real in the e-commerce industry and is also very transparent, as you can see the prices listed as you visit some sites of other sellers.  In e-commerce, you should try harder to demonstrate the value of your customers, since they must trust you.

Find your competitive edge

How can you stay afloat when the rest of the world seems to have everything planned?  Most retailers have a race to the bottom, where as soon as they see someone lowering prices, they begin to do so as well.  This is excellent for the customer, but we cannot say the same for your business.  Keep reading to find ways to remain competitive.

  1. Product: The most important thing is to have a product that can create lots of sales.  If you are selling something that is unique, you have a competitive advantage.  If you are selling something that everyone else is selling - why should customers buy from you?  You need to learn how to craft a unique selling proposition to stand out amongst your competitors.
  2. Availability and location: The commercial adage "location, location, location" is not dead.  Maybe you are not selling the most exclusive products, but yours ship faster than your competitors.  Placing your products in front of a large audience is the best way to gain exposure.  When you work with online retailers, obtaining excellent real estate property generally means selling on multiple platforms and obtaining your products where customers buy.  A second way to consider availability is to offer your products as a subscription, and this is how you can reduce shipping and delivery times.
  3. Ease to use: You should consider your website as something easy to navigate, something that does not take long to use.  Optimizing websites for mobile devices and desktop computers and making them simple are important aspects to consider when becoming a competitive site.
  4. Price: When buying, one of the most important factors is the price.  If your close competitor is lowering prices, try not to underestimate yourself.  Instead, try to find ways to stay in the same range.  Another option is to keep your prices but offer discounts or subscriptions.  Be creative with credit lines or subscriptions has proven incredibly effective.
  5. Credibility: Since people cannot try things instantly, you must prove that your products are of the quality mentioned.  Create strategies that focus on getting opinions from customers, or that can create content or give them affiliate associations.  That is one of the few ways to boost your creativity and make them trust your brand.
  6. Brand loyalty: Being competitive means getting stable customers who come back again and again and recommend it.  You can start with creative loyalty programs or subscriptions.  These types of initiatives can grant rewards to customers and encourage them to stay with you.
  7. Website design: Website design is very important to stay competitive.  When giving a good first impression, website visitors will respect you as a brand.  Having your website optimized for desktop and mobile is also very important.
  8. Know your niche: You can go a long way by having an exclusive product for a niche in the market, but it is important to have an excellent strategy and having the right buyers.  There are many niches of the market that need proper investigation and resources.
  9. Customer services: Become the company that solves customer problems immediately and leaves people feeling "these people take care of me".  This is important when you have brand loyalty.
  10. Sourcing: Today, customers are looking for companies that are transparent with the source where their products are created.  Many consumers value ethical sourcing and will not purchase from retailers who source products unethically.  

What do you think of our list?  Comment below and let us know!

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