7 Important Tips for Going Online With Your Retail Business

The retail industry occupying a vital position in the value chain, has been the worst hit by the COVID-19 crisis. Although there has already been a growing demand for digital transformation in the retail industry over the last few years, the pandemic significantly accelerated the transformation process as it has forced businesses into exploiting and expanding  their online capabilities.

If you’re planning to add an online component to your retail business, there are a few things you should have in mind. Let’s jump straight into it.

1. Build a proper digital storefront

Building a crappy website in a couple of weeks just to be able to sell something online is not a great long-term solution. In fact, it is not even a good short-term solution.

Online, you are not competing just with other stores in your street or city, you are competing with, well, basically everyone. When you are a well known brand, getting the word out that you have expanded into online space is not that hard as news sites jump to report this kind of thing. As a local brand, you have to spread the word yourself - be that through social media, posters, word-of-mouth, or any other way that can reach your loyal (and potential) customers.

For starters, you do not have to have anything robust. If you are in a rush or have strict budget restrictions, a simple, clean-looking website with professional design will provide a nice foundation you can later build upon.

How to build a proper ecommerce website is a story for itself (we will mention a few important things to keep in mind throughout the article), but you are going to outsource this anway. An important part of your process of going online will consist of finding the right design and development agency who can deliver the right solution, in the right time-frame, and with the available budget. 

2. Implement quality customer experience strategy

According to a study from Oracle, 74% of senior executives believe that customers who have a positive experience with a business are more likely to become a repeat and loyal customer. 

Since onlines selling removes physical interaction that happens in the retail store, having fast customer service and creating appealing customer experience is an important element of building trust in your brand and ultimately increasing conversions.

There are many strategies to improve retail customer experience. When talking about the online aspect, this could be anything from:

●      having a well-designed website that focuses on best UX practices

●      ensuring effective customer service (be that in-app, e-mail, call centre or live chat)

●      3D/interactive product previews

●      specifically designed retail apps

●      showing personalized content, suggestions, recommendations to registered users 

●      engaging people with DIY-projects and contest on social media

●      and much more

3. Demonstrate empathy

Putting ethical motivations aside, demonstrating empathy and compassion in a time of adversity can immensely improve a retailer's public image and invariably increase patronage volume. You can utilize this opportunity created by the COVID-19 pandemic to show your customers care and support.

eBay is an example of an eCommerce business exhibiting this initiative. To help out during the outbreak, eBay started its Up & Running program, an accelerator program pledging $100 million in support for small businesses and making eBay Store free for three months.

Of course, there are not many brands who can afford this. But you sure can do something. For example, apparel brand Aritzia created the Aritzia Community Relief Fund where 100 percent of proceeds during this time will go to staff affected by the crisis. In a similar fashion, razor brand Supply offered customers the chance to win their “version of a stimulus package” of $1,200 in cash upon submission of a video using Supply’s products.

Assuredly, deliberate efforts to offer incentives, discounts, and other value-added services to your customers will go a long way to show that you identify with their predicaments. This measure of goodwill can earn you customer loyalty and trust and is a common practice that maximizes the use of your online channels.

If you are running such programs, be sure you promote it through all of your channels - website, email, social channels, retail app, etc. to ensure maximum online exposure.

4. Keep your customers up-to-date

It is a given that the ongoing COVID-19 pandemic is creating anxiety and stress in the mind of many. Now more than ever is extremely important to keep your messaging up-to-date, especially your website information - and especially with regards to your operations.

For example, an online store, Sephora informs shoppers who are taking a last look at their cart that delivery times may be longer than normal. If you plan to add an online component to your retail business, having these types of updates is really important so you can manage customer expectations.

Another great example comes from Dick's Sporting Goods where they feature a variety of COVID-related updates.

5. Improve transparency to build trust

The significance of trust in any business cannot be overstated. Ergo, improving your transparency invariably builds your trust-worthiness. Since your website is the main touchpoint for communication and exposure, you can earn your prospective and existing customers’ trust by making sure your website has:

●      appealing and professional design

●      well-written ‘About Us’ page (that can even feature a personal story about the brand)

●      easy-to-find contact information

●      the option for customers to upload product reviews

●      security certificates/badges (that relate to things like card payments)

●      list of your brand partners (if you have any)

●      prominent FAQ section that answers the most common questions your customers might have

Although there may be many other ways to enhance your brand trustworthiness, following this checklist will set you on the right path.

6. Provide smooth checkout experience

At the end of the day, you are going online because you want to increase your sales. You can get everything else right, but if your checkout process sucks, you’re going to lose a ton of sales.

You need to make sure that the process is smooth, provides enough payment options, doesn’t feature unnecessary steps, doesn’t ask for unnecessary info, provides clear order and shipping details, and looks to eliminate any other objections to sale that a customer might have. For more info, here’s a piece that discusses how to build a perfect checkout experience.

7.  Maximize the benefits of digital retailing

Ecommerce businesses have benefited immensely from the social distancing regulations and the consequent low or zero patronage of the brick and mortar stores. For the foreseeable future, the only way to compete (or at least to ensure one safe selling channel) will be by adding an online component to your retail business.

To succeed, you have to deploy all available online machinery to your advantage. Invest into CRM tools, engage people on social media, start a newsletter, create and share useful content, create an app  that offers personalized customer experience… Going online means having access to many different channels, however, you first need to be sure that your target audience is actually using the channel you are focusing on. 

Embracing and navigating the uncertain market

Since it’s become imperative to embrace the new normal and it’s attendant market realities, many business owners have to be adaptive to stay relevant. Adopting these creative and proactive tips will facilitate a smooth online transition while ensuring a sustained digital survival.

Although there's still a considerable degree of uncertainty surrounding the COVID-19 economy, as retailers navigate these turbulent waters, flexibility and the ability to adapt will keep them afloat.

Author: Bojan Bajić