What do you do if E-Commerce innovation is threatening your traditional retail business?

The rise of e-commerce presents both challenges and opportunities for established brick-and-mortar businesses. Here are key strategies to ensure continued success. Go Omnichannel - Don't be afraid of online! Build a strong e-commerce presence alongside your store. Offer omni channel experience - Offer in-store pickup or exclusive promotions to drive traffic both ways. Know your customers - Use data to personalize experiences online and in-store for a seamless feel. Human touch wins - Train staff to be product experts and build connections with customers. Innovate In-Store - Pilot AR/VR demos or self-checkout options to create a unique shopping experience.

Business is driven by consumer demand and channel is place they choose to buy your products or services; no brand or company can force the consumers to buy their product from a specific place (Of Course there are exceptions in some product/service categories). Hence, it's important for any brand or business to create such an eco-system where consumers get same/similar value proposition. Driving omnichannel strategy makes sense in such environment, however business should consider product mix and price/unit to provide similar value proposition to consumers. On the other side digital first brands are (or can) using D2C and Marketplace as not only sales platform but as marketing tools too, which allows them to enter into physical retail.

Keep in mind that Gen Z is coming after you. They do not shop like we shop, they do not discover things the way we discovered them. They are digital natives that understand social media trends better than they understand their parents. It is a challenge for the whole economy out there, and we are not ready to respond to the demand that is soon coming from the young ones.

Innovation in e-commerce might feel like a robot uprising against your brick-and-mortar store, but fear not! Embrace the "Click and Mortar": Don't fight the online wave - ride it! Offer an omnichannel experience where customers can browse online and pick up in-store, or vice versa. Level Up Your Customer Service: While online stores might have fancy algorithms, nothing beats the human touch! Invest in friendly, knowledgeable staff who can build relationships with customers. - Get Crafty with Community: Foster a sense of community around your store. Host workshops, product demonstrations. Remember, even the sleekest website can't replicate the charm (and free coffee!) of a local store. So play to your strengths!

Enhance Customer Experience: Focus on providing exceptional customer service, personalized recommendations, and convenient fulfillment options to differentiate your retail business.

Optimize your e-commerce website with platforms like Shopify and ?????????????????? to enhance user experience and security. These platforms offer customizable templates, secure payment processing, and SEO tools to boost online visibility and sales.

A well-optimized website typically experiences lower bounce rates, longer session durations, and higher page views per visit. These positive performance metrics indicate that visitors are finding value in your content and engaging with your site effectively. By continuously monitoring and optimizing these metrics, you can refine your website to better meet user needs and business goals.

Adopt innovative technologies such as mobile apps, augmented reality, and inventory management systems to streamline operations and enhance the shopping experience.

Use social media and content marketing not just for promotion but to build a community around your brand. Engage with your audience, share valuable content, and foster relationships. A strong community can become a powerful advocate for your brand.

Optimizing your website is akin to enhancing your digital storefront. Focus on making it attractive, user-friendly, and secure. Key aspects include: SEO: Ensure high visibility on search engines. Speed: A fast-loading site improves user experience. Responsiveness: It must look good on any device. Navigation and Checkout: Simplify these processes for users. Compliance: Adhere to standards like GDPR, PCI-DSS, and ensure SSL encryption. Leverage tools like Google Analytics for performance insights and Google Search Console for SEO improvements. Platforms like WordPress can also facilitate design and security enhancements. These steps are vital for creating a welcoming and safe online environment for your customers.

Gone are the days when 'diversifying your channels' meant listing on Amazon, which understandably some retailers/brands were reluctant to do. Your customers' demographics will tell you where they are choosing to browse and buy and you have to meet them wherever they are. And with all leading commerce stacks making it super easy to integrate, even with a small team delivering an omni-channel CX is achievable.

By expanding your presence across multiple channels such as your own website, social media platforms, marketplaces (e.g., Amazon, eBay), and offline channels (e.g., brick-and-mortar stores), you can reach a broader audience. This allows you to tap into different demographics and market segments, increasing your brand visibility and potential customer base. Relying solely on one channel, such as your own website or a single marketplace, exposes your business to risks such as algorithm changes, policy updates, or platform outages. Diversifying your channels mitigates these risks by spreading your sales across multiple platforms, reducing dependency on any single channel, and ensuring business continuity.

As you transition more towards e-commerce, ensure your team's skills are up-to-date. Provide training in digital marketing, data analysis, and customer service for the digital age. Your employees are your greatest asset in adapting to change.

Expanding beyond traditional eCommerce, consider leveraging emerging tech like AR for virtual try-ons or AI for personalized shopping experiences. These innovations can set your brand apart in crowded digital spaces. Additionally, explore partnerships with influencers or niche communities to tap into new audiences. Embrace sustainability and transparency in your operations, as these values increasingly influence consumer choices. Finally, always be agile, ready to adapt your strategy based on real-time data and customer feedback, ensuring you remain relevant and competitive.

Unfortunately, delivery can be the oft neglected - but oh so critical - part of the customer experience. IMO too many retailers spend 80% of their energy on just getting their customers to 'click the buy button' and only 20% on the fulfillment experience. You have to offer free, fast-ish shipping - no debate there. So your business model needs to support that no question. And from then on, all customers demand is honesty and transparency on delivery status (which is super easy - see the below post for example). Plus you have such an opportunity to 'surprise and delight' your customers at that special moment when they are so excited about your brand, can you make that unboxing something special that makes them come back again and again?

You can integrate the FedEx API into your website so customers can enter their zip code and automatically discover the shipping cost for each specific product you sell. This simple action will allow you to increase the delivery guarantee in the buyer's mind and will also associate your brand with FedEx, which will surely benefit you as an SME. The stage from purchase to delivery is always a period of weakness for any buyer, but you can enhance your delivery by outsourcing to a major logistics brand.

E-commerce and consumer behavior are constantly evolving. Stay informed about the latest trends, such as voice search, AI personalization, or sustainability in e-commerce. Be ready to adapt your strategy to keep up with the market.

My favourite example is Argos, who adapted ingeniously to the digital age. For decades, the Argos catalogue was a mainstay in British homes, and was THE way to browse and buy. At it's height 10M copies were printed. The shopping experience in-store was iconic; browse catalogue, find item, jot down code with tiny pen, take to the till, then wait for your item to be handed to you. Argos recognised the shift to online shopping, and transformed their hundreds of stores into delivery/pickup hubs. Their primary competitor was Amazon, and thanks to their broad product range and presence in virtually every town and city, they were able to offer same-day delivery from nearby stores, outmaneuvering their competitors with both convenience and speed.

El comercio electrónico en si mismo, como cualquier innovación que se produzca en este, o en las actividades necesarias en el día a día del comercio minorista, deben verse y, sobre todo, tratarse, como una oportunidad necesaria. Después de 27 a?os acompa?ando a cientos de minoristas en su transformación digital, los que han adoptado de forma progresiva, sin prisa pero sin pausa, la tecnología en sus procesos, mejoraron sus flujos de trabajo, y por tanto sus costes relativos y márgenes, ofrecieron una mejor experiencia de compra a sus clientes, y una mejor experiencia de venta a sus empleados, y, consecuentemente, incrementaron sus ventas. La innovación es siempre una oportunidad, que, de no acogerse, te deja fuera. Es un MUST. A por ello!

El comercio electrónico no debe interpretarse como una amenaza para el comercio tradicional sino que lo completa. Deben ir de la mano y es fundamental dise?ar estrategias orientadas al comercio como concepto global, incorporando tanto el on como el off. Encontrar la excelencia en la experiencia de compra pasa por la combinación de ambos mundos, que realmente son uno.

Adopt new technologies: Embrace emerging technologies like AI, AR/VR, or IoT to enhance the retail experience and stay ahead of the curve. Experiment with new concepts: Explore innovative retail concepts, such as experiential stores, pop-up shops, or subscription services, to attract and engage customers in unique ways.

Harness data analytics to gain insights into customer preferences, behavior patterns, and market trends, enabling you to make informed decisions and drive targeted marketing efforts.

The horse is out of the barn on this one, folks! - you cannot beat them, so just join them! And invest in giving you customers the easy, omni-channel shopping experience they demand and deserve. There are so many low cost, easy to integrate solutions out there, there is no excuse. Invest and thrive

There will be multiple options to counter the challenge from ecommerce innovation to your traditional (offline) business, depending on your customer profile, scale, geographical presence, capabilities & resources, product categories & brands, positioning etc. However, most likely you will benefit from adopting digital channels, whether or not actually selling through your own website - each channel including social, messaging, marketplaces has a role to play. Most important is to remember to play to your strengths ie. your physical presence, retail brands, customer loyalty etc and to leverage these even through your digital channels. Need help designing or enhancing your omnichannel/O2O/ D2C experience? Lets connect!

You don’t get to choose where your customers what to buy your products, your categories, your services, they do. If your customers are choosing to buy your products from digital commerce rather than in stores, find out why and then start selling that benefit to others. There WILL be a reason (or more than one) and your job is to understand what the driver(s) are and then capitalise on them through your portfolio, pricing, marketing, media and customer experience. While doing all that your job is also to work out how to make your online business as scalable and profitable as your offline business

Collaborate with industry partners: Form strategic partnerships with complementary businesses or technology providers to leverage their expertise and resources in driving innovation. Stay agile and adaptable: Continuously monitor market trends, consumer preferences, and competitor activities to identify opportunities and pivot your strategy accordingly.

Venture into collaborative marketing with brands that share your values, creating bundled offers that provide mutual visibility and value. For example, a sustainable fashion brand could partner with an eco-friendly accessory company for a joint promotion. This not only broadens your reach but also strengthens your brand's commitment to sustainability. Additionally, invest in community-building activities, like hosting webinars or workshops that align with your brand ethos. These initiatives foster a sense of belonging and loyalty among your customers, turning them into brand advocates. Remember, in the digital age, the strength of your community can be your biggest competitive advantage.