As a retailer, the fact is this – you’ll no doubt face fast-growing competition in digital marketing and you’d also have to adapt to a rapidly-growing consumer base that is tech-savvy and searching for the best buying experience. It is a daunting task indeed. The big question is, what’s the best way to achieve this?
The obvious answer is leaping to ecommerce platforms, optimisation, and progressive analysis. However, you’ll need to focus on the primary pillars of digital marketing, which will help guarantee consistency across the different channels you’re on and your physical stores.
First: What are the Challenges for Retailers in 2022?
Retailers in Singapore are facing a complex landscape because of the fast-evolving online commerce. So, here is a list of the main challenges to expect as a retailer:
- Stock management, supplies, and replenishment.
- New ways of delivering goods.
- Technological innovations that are used in logistics and catalogue management, such as contactless payment methods and automation.
- Adapting shopping experience to the changing needs of the modern customer.
- Creating quality content that answers online consumers’ considerations.
- Developing and growing quality partnerships with other retailers, suppliers, and dealers in the entire supply chain.
Unique Strategies to Implement in 2022
So, let’s get straight to it: what are the best methods for retailers in 2022? Here are some of the top suggestions:
Provide Both Offline and Online Shopping Options
The fast-growing number of online customers, especially in 2020 and 2021, has made many unprepared retailers urgently rush back to the drawing board. Every retailer is now shifting to adapt his/her retail store sale’s model to e-commerce in search of new online experiences for clients.
The truth is that as more people move online, the traditional retail store must reconsider its place on the supply chain. The ultimate model is putting both the physical store and e-commerce together into a single and streamlined experience. This is referred to as an omnichannel strategy where you reach buyers via different channels to inform their purchase journey and enhance the buying experience.
Let’s put it differently: the ecommerce site should be used as a way of complementing the actual shopping experience. Consider adding contactless payment services that are offered across all e-commerce platforms like PayLah, Paynow, GrabPay, Google Pay.
Consider Automating Stock Control for Your Store
About 15% of losses in sales come from sellers being out of stock. If a consumer sees an ad but finds that it is out of stock, they develop a sense of mistrust. Often, they look for alternatives at competitor stores.
As a retailer, you must rethink stock control and edge a notch higher in logistical sophistication. The best option here is adopting omnichannel strategy, which automates the stock management system so that only the correct information is presented to clients. With regular updates, your employees will promptly notice when specific products are unavailable and initiate the necessary arrangements to restock. When integrated with more advanced systems, it might be possible to redirect your clients to other related products.
Enhance Your Product Catalogue/Listings
Having good product catalogues is a primary requirement for success in retail business. It helps to provide a better user experience for clients and optimises communication in the entire retail network.
Digitising your catalogue comes in handy in defining the brand image. The truth is that online consumers are no longer after the same type of shopping experience. For example, simply providing filters that allow consumers to narrow down to the cheapest product will not yield much.
When you are developing online catalogues for a retail store, make sure to include the interactive elements. Don’t just list the items; let consumers experience the products through videos that help create a strong emotional appeal.
We mentioned this already, but it is important to emphasise it again: the catalogue must be consistent in all your sales channels. Remember that it pays to also take a look at what competitors are doing, and thereafter craft something even better. This requires constant monitoring, and services such as Carousell for Business can help you with analysing room for improvements.
Broaden Your Delivery Options
2020 and 2021 saw the rapid growth of home and free deliveries by retail traders. This is very important for consumers, at times, even more than the price. Even though most deliveries are rarely done the same day, businesses should make deliveries as simple as possible.
Your clients consider deliveries part of the purchase experience, and you should try to offer multiple pickup points. Good examples include self-collection at your physical store, designated pickup points, and lockers with no physical contacts. Ideally, doorstep deliveries should be your number one option.
Always remember to include a return-to-seller option that clients can use if they get the wrong item or damaged products. There is nothing more damaging than a customer receiving a defective item despite paying for the best product. So, ensure you include a procedure for returning the item, reshipping the right product, or a refund.
Implement Chat Support
When clients do not interact physically with you, it does not imply that they’re not interested. Demand for chatbots has been growing rapidly in the recent past. They help answer most queries and only refer those that require a real person to the business support staff. CarouBiz comes with automated and quick reply tools that help businesses craft out templated instant replies when your customer service personnel are unable to attend to queries immediately.
As a retailer, 2020 and 2021 marked an important turning point that is now redefining how marketing and online sales are made. Gone are the days that you can simply stick to the traditional model of retail marketing because all your competitors are racing ahead with ecommerce. To actualize the strategies we have highlighted above, Carousell serves as a great starting point. Carousell makes it easy to employ multiple marketing channels and stay ahead of competitors.