With evolution of technology and internet, a significant rise has been observed in digital commerce industry. Though technology and internet are best thing ever happened, digital commerce businesses fail to utilize its benefits for business growth. As the internet is encouraging growth of digital commerce, lot of alleged businesses are on the edge owing to the growing competition. Hence it is must that they should rethink upon their business strategy.
Similarly, with advent of digital devices such as smartphones and tablets, everybody around the corner is preferring online shopping and are snubbing cart items at the same time. This type of customer behavior has incurred a huge loss to the business owners. There can be many explanations such as your site is non-responsive, extra shipping cost or lack of personal assistance.
As many marketers are coming online with their offerings, there are lot of digital commerce businesses who are amateurs or completely naïve. Here are few digital commerce challenges that these businesses can face in 2017. It is vital to assess below mentioned challenges because if they fail to readdress their strategies, there is a high risk of business failure.
- Customer acquisition – Customer acquisition can be one of the most crucial process because it involves lot of marketing. Customer acquisition is the approach where customer is attracted to your shopping site. This process might involve a lot of spending in terms marketing efforts.
- Wallet payments – A huge population prefers card, internet banking or cash on delivery as a primary mode of payment. There are biggies such as Amazon who are encouraging their customers to pay using wallets. Hence, emerging digital commerce businesses will have to think and invest on the marketing efforts and convince their customers to shift to wallet payments.
- Logistics and supply chain – The emerging digital commerce companies must carefully choose logistics and supply chain partner. If any problem persist in the delivery of the goods or products, it can jeopardize the business and might affect the relationship with customer.
- Continuous innovation – As the brand popularity grows, customer expectations tend to grow concurrently. To meet customer expectations, there is a need for constant innovation. Constant innovation can help in gaining brand popularity by attracting new customers.
Digital commerce is growing at a speed of life and there are lot of businesses who enter the digital market daily and hardly success. The digital commerce industry is ruthless where it demands innovation and creativity to distinguish themselves from the other businesses. Hence, if the businesses are aware of the challenges in advance, they can take effective steps to improve the digital strategy.
