The D2C business model is here to stay and grow! Wondering why and how?
Well, with retail commerce gaining its lost shine and a new year almost on the horizon, enterprise brands are strategizing business moves to make their business future-ready.
D2C ecommerce is gaining traction as it offers a win-win scenario for enterprise brands as well as customers who benefit from reduced costs.
The question here is - how to make the most of the prevailing market dynamics and set up your direct-to-consumer brand for growth like never before. One of the easiest ways to do this is to cash in on the D2C trends to stay ahead of the curve. Looking for ways to create a phenomenal brand in 2023 and beyond?
How about starting by checking out a few d2c ecommerce growth trends;
- $ 213 billion is the estimated market size in the U.S by 2024
- EUR 1.4 billion is the value of D2C sales in Russia in 2021
- $ 100 billion is the estimated crossover of the D2C market in India by 2025
- 55% of consumers prefer to buy directly from brands rather than multi-brand retailers
- 49% of the customers prefer buying from D2C brands because of better price availability
- 50%+ of consumers opt to visit brand websites to get comprehensive information
- ~ 64% of consumers worldwide made regular purchases directly from brands in 2022
Source: Invesp, Financial Express, Statista
The growth of the direct-to-consumer business model is quite relevant with the above figures. To chart an upward growth trajectory, enterprise brands need to align their businesses according to the D2C market trends. However, your enterprise brand needs modern ecommerce features and tools to speed up your d2C ecommerce business growth in 2023 and beyond.
Table of Contents
- How to align your business with D2C trends for growth in 2023 and beyond
- 1. Personalization is the key to higher sales growth
- 2. Omnichannel approach to stay connected with the customers
- 3. Streamline quick deliveries to retain customers
- 4. Composable commerce for innovative solutions
- 5. Scale up to the global markets
- 6. Targeting customers on their mobile phones
- 7. Content is king - Leverage good content
- 8. Make payments easy breezy
There might be a ton of questions on your mind right now like - What are the factors that can drive your sales? What kind of solutions do you need to help your business grow? Etc etc. To answer all the questions, StoreHippo brings a compiled list of 8 d2C trends for growth in 2023 and beyond.
Let’s get started:
Did you know that 91% of buyers are more likely to purchase from brands that remember their preferences and offer relevant deals and recommendations? Going ahead in 2023, enterprise brands need to understand customers’ buying patterns and user preferences.
When brands are able to comprehend the buying patterns of their customers, they can offer extreme personalizations. For eg: if you have an x number of customers interested in buying sports shoes, you can create a “customer group” and send a personalized email saying “50% discount on sports shoes, especially for you”.
StoreHippo helps D2C ecommerce brands to implement personalization on their online store with much ease. The decoupled headless architecture helps brands tweak the enterprise ecommerce platform at the frontend and the backend to implement multi-level personalizations. With StoreHippo, brands can customize their shipping solutions, digital payments, offer content in personalized languages, discounts and offers catered to their specific needs etc.
If you have not yet taken the omnichannel road, you are missing out on 50% of customers who shop on 4+ touchpoints regularly and use atleast 6 touch points for finalising their purchase. The customer’s buying habits have shifted like never before. They tend to look at multiple channels before making a final purchase. Having multiple D2C sales channels for your enterprise brand is a must have approach to ensure growth in 2023 and beyond.
StoreHippo’s 300+ API endpoints and headless architecture help brands add new sales channels using the same backend logic and APIs. With StoreHippo’s multiple in-built ecommerce features enterprises can implement omnichannel strategies at ease. StoreHippo also enables brands to collect customer data from various channels and use this information to offerr personalized experiences to their customers across multiple channels. For an unparalleled growth of your business, build your custom omnichannel solutions to engage and serve your customers.
Once you have established your D2C ecommerce set-up, you need a delivery management solution that can cater to a wide range of pin codes and be accessible to all your customers. However, in a D2C business model, streamlining order fulfilment becomes a daunting task. Once the retailers and middlemen who had been taking care of the shipping traditionally are removed, the brand needs to find ways to build a seamless supply chain. With 60% of customers nowadays expecting same-day deliveries, it becomes all the more important to streamline and automate the delivery processes.
Wondering how to go about it? With StoreHippo’s comprehensive shipping solutions, brands can seamlessly integrate with the best logistics providers. StoreHippo comes with 30+ pre-integrated logistics providers to help D2C brands streamline and automate their shipping processes. Brands can also import orders from different sales channels and align them for timely deliveries through the automated logistics module.
Don’t you think it could be challenging to make minor changes in the front end or backend of your D2C website when they are tightly coupled? For example, to make any changes in your ecommerce website like adding a new payment method, you would first need to make changes to the codebase, then test, deploy and release, which is a complex and time-consuming process.
Here comes the composable commerce to your rescue, where each platform component is a separate service that can be deployed and scaled independently. To have flexibility, scalability, and innovation on their D2C ecommerce platform, enterprise businesses need to adapt composable commerce.
StoreHippo makes composable commerce a reality for enterprise brands. It helps create tailor-made solutions for the unique needs of enterprises, without requiring complex customizations or extensive coding. Using the headless architecture from StoreHippo, brands can seamlessly integrate, try, replace, or remove multiple software, until they achieve the best-fit digital environment on their enterprise ecommerce platform. The API-based StoreHippo architecture, also makes it easy for brands to integrate their preferred software or service providers using APIs. Developers do not need to waste their time and effort trying to piece together different technologies that weren't meant to work together. With composable commerce brands get the flexibility and agility to stay ahead of the competition. Also, with the MACH architecture, D2C brands can effortlessly connect disparate systems and applications with zero complications and developmental costs.
Gone are the days when businesses used to be limited to a certain geographical area. Brands today envision their products or services to reach global markets. Have you charted out a global growth strategy for your business yet? You primarily need two things sorted before expanding your business to the global markets. First, a complete understanding of the global market where you are planning to expand to; and second, a complete package of global solutions to ensure a smooth D2C global expansion.
StoreHippo helps brands translate their website into 100+ languages including RTL languages like Arabic, Hebrew etc automatically. StoreHippo ecommerce solutions also provide businesses with support for doing business in all the prominent currencies from across the world, to ensure seamless checkout in their customers' preferred currency. Brands can seamlessly integrate with over 60 domestic and international payment gateways offering 100% secure transactions.
Targeting customers on their mobile devices is not a new formula for business growth. However, enterprise brands sometimes do not realize its importance and miss out on a major chunk of their audience. Is your d2c ecommerce brand aligned to leverage m-commerce for growth? If not, now is the time to act on it.
An advanced m-commerce platform like StoreHippo can help enterprise brands to create mobile-friendly sites, PWA stores or mobile apps in no time. The stores powered by StoreHippo are PWA stores that look, feel and work just like mobile apps when opened on chrome and can even work on entry-level devices with poor internet connectivity. StoreHippo also offers pre-designed templates, mobile-responsive themes, built-in mobile apps builder and more or less everything you need to cash in on the D2C trend of leveraging mobile as the prime sales channel.
Want to increase customer engagement on your brand? The sureshot way to stay involved with your customers is to add value to their lives through quality content. With the ever-changing customer buying habits, brands need to streamline their content in ways that attract customers.
With StoreHippo, brands can leverage a variety of targeted content to grow their outreach and increase brand awareness. The D2C ecommerce solutions from StoreHippo are designed to help brands with SEO-friendly tools for generating URLs, meta tags, descriptions, etc. The blog engine helps brands create different blog categories. With StoreHippo’s easy inbuilt integrations, brands can connect various social media platforms and CRM software to deliver the best branding, content and support to their customers across multiple channels.
When payment processes are easy, customers do not hesitate in making repeat purchases. To keep your customers hooked to your brand, it is rather important to offer flexible payment options on your D2C website. Making customers comfortable with buying on your platform should be the prime motto. And to achieve that, you need an ecommerce platform that makes multiple integrations easy.
To help you stay on top of every D2C trend, StoreHippo ecommerce solutions offer 60+ payment gateways for both domestic and international customers. Enterprise brands can integrate COD and offline payment solutions along with multiple payment gateways and digital payment solutions like Paytm, store wallet, etc. StoreHippo also supports location-based payment gateways to offer seamless checkout processes to global customers.
With the D2C route, businesses can hack ecommerce growth in 2023 and beyond. However, to build and run an enterprise store successfully can be a daunting task. But with the help of an advanced D2C ecommerce solution provider like StoreHippo, it all seems quite easy.
StoreHippo offers enterprise-grade D2C features and plug and play solutions for buisnesses of every scale and size. With its 300+ inbuilt features, unparalleled scalability and inherent flexibility, D2C enterprise brands can build tailor made solutions seamlessly to grow their business in the years to come. StoreHippo comes with an inbuilt abandoned cart follow up module helping brands recover lost carts. The host of tools and easy integrations that come with StoreHippo, like livechat, real-time notifications etc. ensures better customer engagement and helps brands leverage d2c trends seamlessly.
Explore the D2C ecommerce solutions from StoreHippo by starting your 14-day free trial now.