How Important is eCommerce for Small Businesses?

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The last few years saw eCommerce growing into a vital part of the global retail market. Continuous digital innovations reshaped the ways we work, learn, communicate – and shop. Now, we focus on eCommerce for small businesses and how important they are.

The already steady growth of the eCommerce share of total global retail sales was further driven by the pandemic. In 2020 alone, the share of online shopping skyrocketed by 5%, equaling the growth recorded in the previous five years. 

Yet, despite all the buzz surrounding eCommerce, a surprisingly large portion of small businesses are missing out on this indispensable element of attracting and retaining customers.  

Namely, according to a 2021 Top Design Firms’ report, almost a third (28%) of brick-and-mortar businesses don’t have a website. On the other hand, the majority of those that run a website struggle with reaping the maximum benefits out of their digital presence. 

The harsh truth is – if you’re not online, you don’t exist. Consumers enjoy the perks of shopping online – the convenience, safety, and easiness – and they don’t plan on letting them go anytime soon.  

eCommerce for small businesses is only expected to rise in the following years, further supported by the progress in virtual and augmented reality that transforms online shopping into a more immersive experience. 

If you’re still not buying digital presence as that important factor for your commerce business, we’re bringing you three data-driven reasons to build your eCommerce presence today. 

Six Out Of Ten Shopping Journeys Begins Online 

Think with Google’s study suggests that 63% of shopping occasions start in the online realm. So whether your customers shop online, or visit your store in person, their quest for more info on your services or products will launch online. 

During their pre-shopping investigation, your potential shoppers may look for information such as: 

  • product reviews 
  • testimonials from your previous clients 
  • product/service prices 
  • detailed product/services descriptions 
  • product comparison 
  • visual product presentation 

By building a powerful eCommerce website, you can provide prospective shoppers with all these in a single place, thus not giving them the reason to even doubt becoming your customer. Integrate various features your shoppers will love, such as product specifications, images and videos, and a comment section. 

On the other hand, a poorly designed website, or no website at all, means your potential shoppers will simply turn to another brand that is straightforward about their offer. 

Mobile Commerce Accounts for Nearly Three-Quarters of eCommerce 

You haven’t even fully mastered the art of eCommerce yet, and there’s a new online shopping trend rising? 

Statista’s data show that in 2021, 72.9% of all retail eCommerce worldwide was generated via mCommerce, i.e., mobile shopping. 

Social platforms, such as Facebook and Instagram, realized mCommerce would soon dominate the retail industry and swiftly resorted to integrating shopping features into their apps. 

Leveraging these platforms to create eCommerce for small businesses is good, considering they are free and you can reach a global market. However, relying on a third-party service might not be the best option for building a renowned brand. 

So, building an eCommerce website or an app – our experts from top mobile app development companies say a custom app goes a long way. 

Developing your own retail mobile app means creating a more branded, more powerful, and more feature-packed eCommerce solution. Moreover, with your business only a click away, consumers will be keener to return to shop from you rather than researching products online. Building an eCommerce brand is not easy and
it takes time and a certain set of skills. Branding agencies always have
a lot of work but in the long run, building a brand always pays off. 

Retargeting & Remarketing Seal the Deal For Almost 50% of Shoppers 

In 2020, an average of 2.2% of eCommerce visits ended with a conversion. That means that out of 1,000 visitors, only 22 will transform into your brand’s satisfied customers. 

It also means that a staggering 978 people will abandon your website without making a purchase, possibly never to return.  

Interestingly, the onset of the pandemic saw a drop in the eCommerce conversion rate by 1% compared to 2018. The stats indicate that although the number of online shoppers is on the rise, they are less keen to commit to a brand upon their first visit. 

Here is where retargeting enters the scene. 

Retargeting is a marketing technique of leveraging paid ads to target audiences who have visited your website, social media profiles, or physical store.  

With retargeting prospective shoppers, you can keep your brand on their radar and smoothly nudge them back to reconsidering the products they’ve shown interest in. 

Remarketing is another customer re-engagement strategy, often used interchangeably with retargeting, though inaccurately. Namely, remarketing is a marketing method of reengaging past customers, mostly through emails.  

Besides different mediums, remarketing targets those that have previously done business with you, compared to retargeting that aims at prospects. 

Through remarketing, you can present shoppers with personalized product offers, remind them of their abandoned cart, or notify them of your brand’s new products, discounts, and promotions. 

Both retargeting and remarketing are amazing marketing strategies, and you can reap their benefits only by creating your own eCommerce website. 

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