Planning the next big step for your enterprise retail brand’s growth?
Want to adapt to changing buyer requirements and take your brand phygital (physical + digital)? Weighing out your options?
Not sure what such a leap can bring for your brand?
Let’s check out some stats:
$4.9 trillion worth of retail e-commerce sales in 2021
~ 73% of customers prefer shopping through multiple channels
89% of the customers can be retained with omnichannel engagement strategies
30% higher lifetime value of customers who buy from a business both in-store and online
$ 11.01 billion is the estimated reach of the global omnichannel retail ecommerce market by 2023
The figures say it all!
Creating your own B2C ecommerce presence across multiple touchpoints is not just important, it's a must for growth. The new-age buyers are looking for an advanced buying experience that not only involves services from brick-and-mortar stores but an equally good experience on tdigital channels also. .
B2C ecommerce: Why it is the way forward for enterprise retail brands
The B2C ecommerce business model has opened up new markets for enterprise brands, making them available for their customers anytime, anywhere. With customers searching for brands online before hopping into offline stores, building a solid digital presence is what brands need to do to stay relevant.
Before we delve deeper on why and how having a B2C ecommerce presence can help enterprise brands, let us understand what we mean by enterprise retail brands.
What is a retail enterprise brand
Enterprise retail brands are the brands that already have a solid presence in the offline market, with a vast customer base. These businesses usually have the following characteristics:
Presence across diverse geolocations
Traditional business practices which lacks automation
Little or no online presence
Siloed business visibility and control
Vast customer base makes personalised offerings difficult to implement
Huge scope for process refinement for hyper-growth
Such enterprise brands are looking for ways to digitize their sales channels and willing to make a shift to the online market.
Why retail brands should opt for B2C ecommerce
Customer engagement is key for retail enterprises in terms of market sustainability, profitability and business growth. And going online enables brands to achieve all of these in an efficient and hassle-free manner. Using the B2C ecommerce model, brands can offer highly personalized and engaging experiences to the end users for disruptive business growth.
To understand the importance of going online, let us look at the B2C ecommerce trends across the globe:
2 billion people shop online to fulfil their needs
$ 7.4 trillion forecasted worth of retail e-commerce sales by 2025
50% growth forecasted for B2C ecommerce by 2025
9.7% CAGR of B2C ecommerce from 2021 to 2028
25.4% growth forecasted for Indian B2C ecommerce market
The above data highlights one thing precisely; with each passing year, customers’ buying habits are evolving and causing major disruptions in the market. The ecommerce market is driven by customer demands and technology is helping brands to adapt to changing buyer demands.
Enterprise retail brands that have a strong online presence are reaping rich dividends in the form of higher traffic, increased sales and better revenue.
Building B2C marketplaces can benefit the business in following ways:
Reach new market and customers without needing to invest in actual brick-and-mortar stores
Cost effective to keep the business open 24x7 for the buyers
Leverage personalization to attract, engage and retain customers
Plan better marketing strategies with data and analytics easily available
Easy to expand to global markets by integrating with global vendors and logistics partners
However, taking an already successful brand to the next level comes with its own set of challenges. But with the right set of enterprise ecommerce solutions in hand, you can leave all the worries at bay.
How retail brands can accelerate their growth by choosing B2C ecommerce
With digital becoming the prime shopping channel among buyers, your enterprise brands can chart an altogether new growth trajectory by taking the online route. Going online gives your brand the tools and means to rapidly align with changing buyer expectations and plan strategic growth.
Here are few ways in which you can accelerate your enterprise business’ growth by choosing B2C ecommerce:
1. Build presence across multiple touchpoints
Buyers are mostly unpredictable making it difficult for you to pre-identify the channels they would shop from. So you need to give them a seamless experience, on every channel or device they prefer to shop on. When you build your ecommerce presence across multiple customer touch points like offline and online stores, mobile apps, mobile websites etc., you build an omnichannel presence.
Going omnichannel comes with a host of benefits for the B2C ecommerce business. Let us look at them in brief:
Better customer retention rates
Better efficiency with the increased visibility of your products and promotion
Increased customer satisfaction
Connecting the offline and online experiences Access to insightful customer data from various channels
Retail enterprise brands can pivot their business model for growth by being available on all channels loved by their customers. StoreHippo helps brands implement a successful omnichannel strategy with its headless ecommerce solution. Built on the headless architecture, StoreHippo gives you the flexibility to add multiple customer touchpoints quickly using the same backend logic and APIS. Also, the decoupled architecture makes it easy to implement changes in your enterprise store to cater to diverse customer segments, locations etc. You can also customize your offerings to boost conversions.
2. Create personalized buyer journeys for better sales
80% of consumers are more likely to buy from a company that provides a tailored experience. Businesses that don’t provide personalized buyer journeys fail to engage their customers. With the drastic changes that the ecommerce industry has brought into the lives of customers, enterprise retail brands are compelled to provide a tailored shopping experience to their customers.
The power and potential of personalization are massive, it helps deepen the buyer-seller relationship and drives better sales. Brands today realize the importance of offering a personalized buyer experience and are going to lengths to provide customers with what they are looking for: personalized content, offers, pricing, payment options, shipping solutions and much more.
StoreHippo offers 360-degree enterprise ecommerce solutions that help you build an extremely personalized buying experience. Built on MACH architecture, StoreHippo gives greater flexibility and creative control to your enterprise businesses and helps you build customized designs and landing pages, offer personalized product bundles, send personalized notifications, offer personalized checkout options, offer multilingual and multi-currency support to your global customers and much more.
3. Make buying easier and faster
B2C ecommerce today is all about the ease of shopping. We cannot forget that the customers come to our ecommerce sites for convenience. Surfing, wishlisting and buying products at the time they prefer, from the location they are in a given moment gives customers a sense of control and eventually nudges them towards buying more.
However, to attract, convert, and retain customers, it becomes fundamental to offer easy and fast buying options.
But how to go about it? Well, the buying process can be quick and seamless when you provide easy navigation, strategically placed CTA buttons, mobile-friendly websites, multiple payment options, faster deliveries, etc. to your customers. Reviews and ratings by other customers also play a crucial role in helping customers make easy buying decisions. When brands offer complete 360-degree images and an advanced customer dashboard that allows the customers to wishlist the products on their B2C ecommerce websites, conversion rates increase exponentially. And to implement these well, brands need to understand their customers, craft the right strategy and implement it with much care.
StoreHippo’s advanced features make it easy for enterprises to offer seamless payment processes, quick deliveries, mobile-friendly sites, product ratings, complete product images, rich customer dashboards etc. With StoreHippo’s pre-designed and customizable themes, designing detailed product pages is a cakewalk. Brands can not only stay ahead of their rivals but also ensure steady growth by leveraging the host of features offered by StoreHippo ecommerce solutions.
4. Leverage mobile commerce
Enterprise retail is witnessing an era of rapid evolution. It’s time for brands to add as many sales channels as they can. Wonder why? Let's start with some facts.
Nearly three out of every four dollars spent on online purchases today is done through a mobile device. The convenience of shopping anywhere at any given time is the leading reason why users prefer shopping on mobile devices.
A well-laid B2C ecommerce plan along with a good mobile commerce strategy helps enterprise businesses offer an unmatched user experience to their buyers. Wondering how leveraging mobile commerce will help your business gain increased traction? Well, it's not rocket science, when you reach your customers on their mobile devices, you are able to capitalize on impulse buying. With pre-integrated mobile payment gateways, enterprise retail brands can offer quick checkouts to their customers. All of this put together goes a long way in accelerating the growth of enterprise brands.
To leverage mobile responsiveness, brands need a strong m-commerce solution. StoreHippo helps you offer a seamless mobile buying experience to your customers attracting folks to your ecommerce site. With the built-in mobile app solutions from StoreHippo, you can build Android and iOS mobile apps in a single click. The sites built on StoreHippo are PWA powered stores that look, feel, and work like mobile apps even on entry level devices.
5. Faster checkouts for more sales
When pivoting to the B2C ecommerce business model, brands can focus on targeted conversions by offering frictionless payment solutions. Imagine dealing with customers in your offline stores, once the customers leave your store, you know you have almost lost your oppourtunity. But do you know you have the chance to revive your lost sales on your online store? Yes, you heard it right.
Brands can re-target the abandoned carts to nudge the customers into completing their purchase through personalised marketing, offering flash sales etc. Complex checkout processes and lack of multiple payment gateways are a few major reasons for cart abandonment. By going online, brands can offer multiple payment options to make buying seamless for their customers. Most of the B2C ecommerce businesses are shifting to multiple payment options like credit/debit cards, netbanking, digital payment wallets etc.
StoreHippo offers 60+ domestic and international payment gateways that make accepting payments simpler and safer using various channels. The comprehensive wallet management offered by StoreHippo also enables the enterprise retail brands to offer loyalty rewards, cash backs, store credits from refunds etc that can be redeemed later while placing an order.
6. Quick conversions with informative product pages
Every customer willing to make a purchase looks for detailed product information, be it an offline store or an online setup. However, an offline steup limits the ways a brand can interact with the customers but an online B2C ecommerce setup makes conversions easy. Confused? Let’s delve deeper to understand the phenomenon.
With an offline store, brands have limited sales representatives and so to engage with each customer for an indefinite period is tough. Whereas, with online enterprise retail stores, customers get detailed product information and can also chat with customer care through multiple channels. With the rich customer data available in the online setup, brands can track customers’ interest and offer personalized persuasive techniques to nudge them towards making a purchase.
StoreHippo allows you to add detailed product-content on your website with images and videos. With the drag and drop functionality by StoreHippo, brands can quickly design a new page, replace or add elements to offer hyper personalization. The device responsive theme works fast on all devices and helps enterprise businesses convert faster. StoreHippo also offers support for multilingual themes and personalized discounts. All of these features make it easier for brands to build a special connection with their buyers and improve their sales.
7. Easy to personalize discounts and offers to attract customers
Buy one get one free! 50% off on your first order!
The power these simple 5-word lines hold is immense. Tough to resist and impossible to ignore.
What if we tell you that you can take this strategy a few notches higher with B2C ecommerce. How about sending personalised emails and SMS to your customers with the same deal but along with the products they wanted to buy. Well, this isn’t possible to do in an offline set up. But with a B2C ecommerce store and right tracking tools in place, you can achieve this easily by automating the whole process.
About 93% of online shoppers use a coupon or discount code throughout the year, making it the most effective sales magnet in the B2C ecommerce industry. Brands can target customers from multiple digital platforms like their website, social pages, retargeting ads, real-time push notifications etc. to achieve rapid business growth.
StoreHippo helps you optimize your retail enterprise brand’s marketing strategy with a variety of discounts and promotions using its powerful inbuilt discount engine and a gamut of marketing tools. With StoreHippo, you can create a variety of irresistible coupons and promotions to experiment with various marketing techniques. You can roll out multi-level discounts like:
Product level discounts, eg: 20% off on hoodies
Order based discounts, eg: 10% off on all orders above Rs. 1000
Coupon codes or flash sales, eg: add one more product to unlock the special coupon code
Time specific discounts, eg: order within 4 hours to get 15% off
Device based discounts, eg: get 40% off on orders via mobile devices
Group based discounts, eg: get 20% off on Samsung mobiles
Seller specific discounts, eg: 20% off on Mochi
The best enterprise ecommerce solutions, StoreHippo also offers a host of built-in marketing tools (abandoned cart recovery, discount engine, unified notifications, dynamic marketing pages etc.) along with integrations with the best marketing tools that enable you to elevate your discounts and promotions game.
To achieve disruptive growth, enterprise retail brands need to look for horizontal growth strategies. Retail brands need a new business model that helps them set on the path of multi channel growth. By opting for a B2C ecommerce model, businesses can build a multi channel presence and also leverage personalization to attract more customers. With a host of tools at their disposal they can also have better control and understanding of their business.
Building an online presence is imperative for brands looking to cretae their own niche in the competetive and changing market. StoreHippo not only helps brands build their multi-channel online presence but also helps you build and execute new marketing strategies to hack your brand’s growth. The easy-to-use and feature-rich B2C ecommerce platform StoreHippo offers 360-degree ecommerce solutions for brands looking forward to building future-ready ecommerce stores.
Try new strategies and build amazing e commerce experiences with 300+ inbuilt features, 120+ integrations and battle-tested, customizable enterprise ecommerce solutions. Start your StoreHippo 14-day free trial now.