With the new lockdown restrictions in place, online sales are likely to accelerate in 2021. I would like to first point out an absolutely important issue that require a thorough attention from online retailers NOW! I’ll then provide some very useful tips to help online retailers to grow their business further in 2021.
According to a survey by Brightpearl, there appears to be a’ crisis in confidence’ among consumers over the reliability of many retailers’ online deliveries
Online deliveries were unreliable in many regions.
In North East with 28% of shoppers saying they had not received an order online since the crisis started. The same problem reported in other regions as follows:
In Scotland (25.5%), Yorkshire and the Humber (25.2%), North West (24.8%), South East (24.5%), West Midlands (23.8%) and London (23.8%).
The most reliable region for online orders was the East Midlands where only 20.1% of shoppers missed a delivery.
⚡ About 43% of consumers are now buying online more than normal. This is expected to increase to 65%.
⚡ There appears to be a large shift in spending habits since Covid 19. That is to move away from chains and tow switch to local retailers.
⚡Dominance of Amazon is still there. Some 55% of consumers say they will use it more in 2021. But 30% of shoppers say they do feel ‘guilty’ about abandoning physical stores for the ease of Amazon.
⚡About half of shoppers (45%) are now buying online that they only previously bought in-store. Also, 40% of buyers are less likely to shop in-store than they were before Covid.
Tips to grow your online sales in 2021
👉 Improve your service after the buy button.
👉Make online deliveries faster and reliable.
👉 You must now incorporate flexibility in your deliveries.
👉Include more choice in delivery options. Such as same day, next day, click & collect.
Remember, majority of shoppers are more interested in service reliability and delivery speed now
If you want to ensure your finance department is 100% ready to deal with the current competitive online retail sales, then don’t delay and contact ERAA Consulting Limited now.