In less than a decade, the consumer packaged goods (CPG) market has shifted dramatically. In 2015, e-commerce accounted for 1.5 percent of sales; by 2022 that number is expected to reach 10 percent. In response, retailers are placing a greater emphasis on their digital marketing strategies and meeting consumer demand for a wider variety of purchase options.
Here are some ways retailers can be flexible in meeting consumer preferences and trends:
Identify the right measures and key performance indicators (KPIs) early
Unlike many projects, there is no end date for your e-commerce site. If done right, it will require continual adjustments and improvement. That’s why deciding on the right measures and KPIs early is so important. From the start, it is essential that your team track the progress that matters so that you can adapt and improve the site. However, as technology and trends change, it’s important to remain nimble and reevaluate your KPIs to ensure maximum efficacy.
Prioritize efficient shipping
Amazon Prime has groomed American consumers to expect their items to be delivered faster than ever. A survey conducted shortly before COVID-19 found that 75 percent of consumers expect same-day delivery from all brands this year, and 72 percent expect to be able to purchase online and pick up on curbside. Brands that cannot offer the same convenience will find it difficult to compete, so finding a distribution partner with an already-developed network is the easiest way to meet that consumer expectation.
Accessibility is key
Brick-and-mortar retailers are used to ADA requirements for their physical locations, but a recent Supreme Court order now requires that businesses make their online presence accessible as well. Notably, 76 percent of app and website accessibility lawsuits filed in federal court in 2020 were against online retailers. Resources are available, like the ones below from accessibility consultants at UsableNet, to help you create more accessible web experiences:
The trend of online shopping appears to be here to last. By developing flexible online retail strategies, you can help your company maximize its online presence and more easily connect with the consumers interested in your product.