Ecommerce Agility is no longer just a competitive advantage but essential for survival. In the Covid era, merchants need to equip themselves with the tools that allow them to respond quickly to changing consumer needs. This is where eCommerce agility comes in. Payflex outlines 4 key tips to help you become more agile and adaptable in today’s highly competitive eCommerce landscape:
Augmented Reality is key to eCommerce agility
Augmented reality is central to eCommerce agility, helping to bridge the gap between the offline and online retail experience. A recent Accenture report found immersive technologies like AR and virtual reality are providing greater transparency and tangibility in the retail journey. The report found consumers trust immersive experiences to close the sensory gap for them and provide the purchasing “proof points” they need to evaluate a product digitally. In fact, the data showed 64% of brands are already starting to invest in immersive technologies. Therefore, those retailers who aren’t already exploring this technology, could be losing out on a valuable competitive differentiator.
Connect the dots with Omnichannel
Consumers use multiple devices, and they want a seamless user experience across all of them. The online store needs to be an extension of the physical one and vice versa. An omnichannel strategy is therefore instrumental in providing a unified experience throughout every touchpoint of the buyer’s journey. In fact, the global Retail Omnichannel Market is expected to reach US$12.7 billion by 2025. As a retailer, you therefore need to be wherever your customers are in order to remain relevant, competitive and top-of-mind.
Knowledge is power
Data plays a pivotal role in eCommerce agility. Today’s shoppers expect a shopping experience tailored to their individual needs, contrary to the one-size-fits-all approach seen in the past. Data is key to understanding shopper behaviour and preferences. In addition, it will help deliver a richer customer experience across the entire shopping journey.
Invest in new technologies
Disruptive technologies are constantly changing the world and the marketplace. Understanding how to apply technology to better serve customers’ needs is central to eCommerce agility. In fact, adapting and broadening the use of technology has played a vital role in meeting the challenges from Covid-19 head-on. If you haven’t already, make sure you reevaluate your technological infrastructure as well as processes and models to better understand the gaps.