The benefits of hyperlocal commerce for enterprise businesses

In the past couple of years the ecommerce market has witnessed disruption at a rate like never before. Ecommerce now mimics real world shopping thanks to immersive online buying experiences and adoption of hyperlocal commerce by enterprises.

Unlike yesteryears, buyers are no longer ready to buy stuff and wait for days for delivery. This is the era of HERE and NOW!

And going hyperlocal aligns your enterprise brand to achieve exactly that! Become the virtual genie of your buyers and get products and services delivered in a jiffy.

Excited to jump on the hyperlocal bandwagon or are you skeptical if hyperlocal commerce is the way to go? 

Let's dispel the doubts and help you make you mind:

• $ 3,634.3 billion is the expected reach of the hyperlocal commerce market by 2027
• 17.9% is the CAGR of the global hyperlocal services market from 2021 to 2027
• 84% of customers won’t return to a retailer after a poor delivery experience
• 53% of customers have abandoned a purchase because of slow delivery 
• 82% of customers shared positive delivery experiences with friends and family
• 74% of consumers increased their purchase rate by 12% for a positive delivery

Source: Convey, Marketingprofs, Maxicus

Well, hyperlocal commerce is ruling the ecommerce industry today. And, let us break to you that it is only going to see a surge in the coming years. Enterprise brands can use this hypergrowth to align their business for unprecedented growth. 

The changing buying habits and the customers being more conditioned to convenience has accelerated the demand for quick commerce. With the gen Z buyers making impulse purchases, the demand for better and quick supply chains has increased tremendously.  

5 benefits of adopting hyperlocal commerce for your enterprise business

By going hyperlocal, you set your enterprise brand on an upward growth trajectory. As you onboard multiple local vendors to facilitate quick deliveries, you set your brand as a customer centric business.

Hyperlocal commerce is the new black and here is why more and more enterprise brands are adopting the hyperlocal delivery business model: 

Enhanced customer targeting 

Targeted marketing has taken the front seat today. Customers are 70% more likely to make a purchase from a retargeting ad. Wondering how you can offer an enhanced customer targeted marketing strategy? 

As you segment your buyers based on a specific criteria, say location, you can seamlessly leverage a personalized promotional deal to them. Creating multiple locations-based hyperlocal commerce stores help you target the customers based on their unique needs and their past buying habits. You can enhance your marketing ROI and reach a wider market by going for hyperlocal ecommerce. 

StoreHippo’s multi-location store solution helps you set-up a chain of location-specific stores in no time. You can add store-specific catalogues or promote best-selling products on each of the sub-store and set different pricing using the price override feature from StoreHippo. 

You can also create unique designs for each sub-store with StoreHippo enterprise ecommerce solutions. For example, you are creating multiple stores for your personal care products. For your sub-store in the North Indian regions, you need to promote summer and winter care products. Similarly for your sub-store in the South Indian cities, you will target your customers with a summer specific set of products. 

Retain customers with faster shipping 

We all know the importance of quick deliveries, right? Winning customers is much easier when you offer them the luxury and joy of ordering and receiving in minutes or a few hours. Going hyperlocal helps you do this and become a brand loved by your buyers.

However, to ensure a seamless hyperlocal delivery, you need a streamlined delivery process for your enterprise brand. Right from receiving orders to dispatching them from the store and delivering the product to the customer, with a quick and smooth process, you can retain the customers and bring them back for re-purchases. 

And if you are wondering how to eliminate the delivery hiccups and create a seamless supply chain - your answer is hyperlocal ecommerce. As you onboard local vendors, you ensure fast and streamlined deliveries. With each vendor being responsible for delivering their order quickly, you can handle the complex delivery process quite easily. 

StoreHippo enterprise ecommerce solutions help your vendors manage their deliveries with its automated, in-built delivery management system. Vendors can quickly automate their entire delivery process and manage their own fleet of delivery boys to ensure smooth and quick shipping of their products. 

Identify as a customer-centric brand

Customers expect enterprise brands to deliver their orders in less than 24 hours. And what if you also provide a touch of personalization to their shopping journey? Customers will love your brand and recognise you as a customer-centric brand. 

Not sure how? Well, as you onboard local vendors on your hyperlocal store, they also bring along their personal relationships with the customers. You can leverage these customer insights to plan multiple strategies to offer personalized deals and work on your customer pain points. Isn’t this what both you and your customers want?

StoreHippo enterprise ecommerce solutions offers a host of in-built marketing tools to help you create enhanced marketing campaigns for your customers. You can integrate with the best-in-breed analytics tools and softwares to strategize your marketing in a way that makes your brand customer-centric. With the in-built design tools, you can seamlessly create unique store designs that help you engage and convert buyers better. 

Increased brand awareness

There’s no dearth of ecommerce marketplaces today. With new businesses popping up every day, it has become imperative to solidify your brand awareness among the audience. And if you are not sure how to go about it, what about creating a buzz about your enterprise brand in the offline market through vendor-store partnerships? 

Yes, it's an idea worth considering. The sure shot way to attract customers is to be seen. As you make your brand visible in offline shops, customers will come flocking to your ecommerce store. You can offer branded packaging, give additional discounts for buying online, offer branded freebies etc. When you partner with local vendors, they encourage their customers to shop from your hyperlocal store while also ensuring them of the same quality along with better deals.

StoreHippo helps you set location-based offers and discounts with a host of enterprise-grade features to attract the local shoppers to your store. You can also set a different commission rate for your vendors or offer discounted shipping solutions using the pre-integrated delivery partners with StoreHippo enterprise ecommerce solutions to ace your hyperlocal game.

Scale to new product lines seamlessly

As an enterprise brand you look forward to carving a niche in the ecommerce industry. But how can you become a popular brand unless you are able to scale to new product categories seamlessly. 

Brands that offer a diverse range of products to their customers become the local favorite. As you onboard multiple local vendors on your enterprise business ecommerce store, you can quickly scale to newer product categories. 

StoreHippo’s multi vendor ecommerce solutions help you onboard multiple local vendors on your hyperlocal commerce store seamlessly. With the quick and easy vendor registration process, even the vendors with no prior knowledge of selling online can also register and set up their unique product catalogues in no time. StoreHippo provides each seller with a separate vendor dashboard to manage their seller pages, inventories, orders, deliveries, etc. 

Conclusion

Hyperlocal business models have become the talk of the town. With large enterprise businesses also taking keen interest in the space and strategizing to make their own way, hyperlocal commerce is going to bring disruptive changes. 

The right way to go about building, running and managing the hyperlocal store enterprise brand is a comprehensive enterprise ecommerce solution provider like StoreHippo. It comes with end-to-end vendor management solutions, a powerful discount engine, in-built marketing tools, etc. to help you build a flexible and conversion-oriented hyperlocal ecommerce store. 

Are you ready to take your enterprise brand to the next level with StoreHippo? Start your 14-day free trial now.