Debunking eCommerce Trends & Myths

Whether you’re an influencer or a brand, it is a common phenomenon to want to be relevant, especially in the age of social media.  And to stay relevant, you have to keep up with the times. This automatically turns all MSMEs into content creators, whether you like it or not.

Unfortunately, without enough research or guidance, it’s easy to fall into traps that won’t yield the results you’re looking to achieve. There are so many things you can do online that it can be overwhelming. But before diving into them, it is essential to know your brand, your customers, and your business goals.

 So which eCommerce trends should you hop on? And which myths are true or false? Here’s an overview of the latest eCommerce trends and myths to help you efficiently strategize your marketing campaigns.

Trend #1: Hiking Customer Acquisition Costs

Now that most businesses have digitized their processes, the competition for grabbing attention and site traffic is fiercer than ever. Every brand out there is placing money on ads in hopes of reaching as many people as they could.

Buying and selling online is so accessible to everybody. The emergence of online retailers has genuinely changed the game. Ad costs have gone up five times to drive the same amount of traffic.

Solution:

If you’re only starting out, these eCommerce trends can be intimidating. However, it’s important to note that there are alternatives to help you market effectively without burning a hole in your wallet.  So, we suggest taking an organic approach- and that’s creating quality content your audience can relate to.

Creating content is free and constantly polishing brand voice and personality is a surefire way to set you apart from your competitors.

Myth #1: eCommerce Threatens Physical Stores

This is a common misconception. There are different ways to establish an eCommerce channel for your business. The only way this can happen is by implementing eCommerce processes without considering consumer behavior and customer experience. Ultimately, without fully considering the whole CX unique to your brand, then you are likely to put your brick-and-mortar store at risk. Like all online tools and solutions, being online is a double-edged sword, but if wielded in your favor, it can be used as an asset to fully realize your potential.

Solution:

Marry your business’ offline and online processes. Know your brand and know your market, it is essential to build your brand to continue attracting and retaining customers. While it’s not likely that you are able to match online and offline traffic, it’s also not to say that it’s impossible.

Maximizing opportunities on all platforms can also be executed offline- it’s just a matter of putting your customers’ needs at the forefront of all your marketing efforts. Doing so not only puts you in a good light but also fosters customer retention and creates stronger relationships with them.

Trend #2: The Rise of Social Commerce

Online shopping has become a part of everyday life, so it’s only natural that it is adapted to platforms consumers spend most of their time in. You’d notice that Facebook, Instagram, and TikTok have shopping features now. A streamlined consumer experience ensures buyers easy transaction processes on social media platforms they are comfortable using.

Not only does social commerce encourage more direct-to-consumer sales, but it also eliminates the learning curve to familiarize oneself with a new interface platform. Its shopping capabilities become just an added feature to an already widely used social media network.

           

Solution:

Be everywhere. Omnipresence is a powerful thing, especially in the time of social media. Capitalizing on these features allows you to gather data on your customers. Knowing where most purchases are made and where they are most engaged with your content easily points you to where you should be focusing your time and energy.

Myth #2: Putting Your Products Online is Expensive

Without proper research, then you are likely to adapt to an eCommerce system that’s too powerful for a first-timer. If so, then it’s going to be expensive. It’s easy to forget that there are free eCommerce platforms.

 

It’s so tempting to go from zero to a hundred when starting to sell your products online. But, as always, different business goals require different solutions and you have to find what will work best for you.

Solution:

As stated above, even social media platforms have added eCommerce features and they’re free! It’s important to remember that it’s okay to start small and grow from there.

And even though you’re not on the most popular eCommerce platforms, being accessible to your customers is the most important point. Keep that in mind and then grow according to demand and need.

While it’s worthwhile to know the latest eCommerce trends, identifying which ones fit your goals will really determine your success. Know your brand and also continue doing your own thing. Who knows? You might be creating the next trend everyone else will soon be writing about.