How small eCommerce stores can win the online game

If you think the online retail market is saturated, and you can’t compete with the heavy hitters in your industry – you’re wrong!

Statistics show it’s a great time to be a small and hungry eCommerce store. Consumers are shifting away from department stores and big online brands, preferring a more customised and personal experience with smaller stores… like yours!

Keep on nibbling at their market share… it’s working.

• Major brands are being cannibalized by the rise of smaller, direct-to-consumer newcomers. And while most of these direct brands are small, the impact on incumbents has been “pronounced and severe,” 

 Digital brands don’t just do things differently; they think differently.  

• Where traditional big brands typically engage customers as buyers, digital brands engage customers as users

Be helpful, be passionate, be profitable

• Digital brands focus on making their customer’s life easier – and being helpful pays.
• Digital/usage focussed brands have a strong customer base who are willing to pay a 7% premium, are 8% less likely to switch brands, and are twice as likely to make a spontaneous recommendation to a friend.

 Personalise your marketing, find your tribe with digital 

• Don’t waste marketing dollars on traditional media – work smarter, use your strengths, and connect online. 
• 95% of advertisers use demographic data, including personal data, location, and interests, to target prospects they know almost nothing about.
• 66% of digital advertising spend next year will go to the most customized targeting platforms on the web: Google Search, YouTube, Facebook, and Instagram

Sources:

https://www.axios.com/warby-parker-blue-apron-casper-popular-fb8df1b8-9454-4752-a1ce-33226f66a875.html

https://hbr.org/2018/02/the-most-successful-brands-focus-on-users-not-buyers

P.S. If you’d like to have a chat about your digital strategy…. Shoot me a message!

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