As eCommerce continues to expand, businesses must be proactive in adopting growth strategies to stay competitive. It is an industry on the rise, with retail eCommerce sales projected to reach £6.11 trillion by 2026. As a leading eCommerce Growth Agency in the UK, we have witnessed the transformative power of strategic planning and innovative thinking. So how do you stay competitive in the growing eCommerce space? In this article, we'll explore the top 5 eCommerce growth strategies that will drive success in the coming year.
1. Enhanced Customer Experiences
Customer experience (CX) is king in eCommerce. At the end of the day, your eCommerce growth strategies must be driven by what your customers want and expect. Meeting customer expectations helps build customer loyalty as your eCommerce offerings grow, allowing you to scale with confidence. Leveraging AI can be a game changer in improving how your customers interact with your brand. Plenty of AI tools let you imitate the care and dedication you’d give shoppers at a physical store. AI doesn't just streamline operations, it elevates the entire customer experience, driving loyalty and growth.
2. Increase Average Order Value (AOV) with Upselling & Cross-Selling
Optimising your Average Order Value (AOV) is one of the simplest ways to increase revenue. Unlike traditional businesses, increasing AOV for eCommerce businesses is pretty straightforward. Creating ‘bundle offers’ , running time-gated sales campaign, personalised recommendations can encourage customers to spend more.
WIRO worked with Alpkit, a British outdoor equipment and clothing company, to achieve a +6% improvement in overall AOV compared to the previous period following their relaunch.
3. Go Global to Unlock New Revenue Streams
If you’re looking to grow your eCommerce business, expanding internationally could be a great next step. The AOV of an international sale is up to £6.79 higher than the average domestic sale, with EMEA customers spending the most overall per order. Shopify Plus provides tools to manage multiple stores tailored to different regions, from currency to language settings.
4. Invest in OmniChannel Marketing
Another way to grow your eCommerce business is through leveraging continuous omnichannel experiences. Unfortunately, many brands still get the user experience wrong, forcing customers to fill their shopping carts a second time, or causing cart abandonment when they switch devices. Creating a unified customer experience across all channels is essential. By integrating online and offline marketing efforts, businesses can provide a seamless shopping experience.
5. Create the Ultimate Checkout Experience
A smooth, fast checkout process can be a game-changer, since it is the most important moment of your buyer’s experience. Simplifying this process by reducing the number of steps, offering guest checkout options, and providing multiple payment methods can enhance the purchasing experience.
Conclusion
In the ever-evolving world of eCommerce, staying ahead of the curve is crucial for success. Successful eCommerce expansion can be achieved through hyper-personalisation, informed decision-making, and the company-wide adoption of the latest technology advancement. By partnering with a trusted eCommerce Growth Agency, you can develop and execute a comprehensive growth strategy that drives revenue and builds brand loyalty.
Contact us today! Let’s discuss how we can help you grow in 2024.
