Mind-blowing stats to guide your e-commerce digital strategy
A digital strategy is important for every company that is planning its digital transformation, but when you want to be a serious player in the e-commerce world a digital strategy is necessary. Why this is and how you can create a digital strategy? That is what you will find out in this blog.
What is a digital strategy?
A digital strategy is a strategy that is for your digital business, but what is a digital strategy exactly? If we define a digital strategy, a digital strategy is a plan for maximizing the business benefits of data assets and technology-focused initiatives. A digital strategy is necessary for your digital transformation. With the strategy, you can create your strategic roadmap which shows where your business is today, where you need it to go, and ultimately, how to get there and which solutions or tools are needed for that. To take your e-commerce business to the next level a digital strategy for e-commerce is needed.
The world of e-commerce
The world of e-commerce is complex and is getting more complex every day. This is because the consumer market is changing. The consumer nowadays has more and more demands. The consumer exactly knows what they want and if they don’t get that, they will leave your business and maybe even write a negative comment about your business which can hurt you. Their biggest demand? A good and seamless experience. It is up to you to provide the ultimate customer experience. How you do this? Think about UX design, CRO, a perfect payment solution and a clear marketing message. Therefore, you need a digital strategy for e-commerce. Also in B2B, a digital strategy is very important, see more here.
The importance of a digital strategy in e-commerce
Every company needs a digital strategy, but for e-commerce companies, the importance is even bigger. When you aren't keeping up with the trends and latest developments in the e-commerce world you will probably lose customers. Every big e-commerce company is a frontrunner, think about Amazon. Amazon is always ahead and uses AI and other tools to stay ahead. For you to compete with companies like Amazon you have to make sure your online business stays on track and has a clear end goal. To realize this end goal you have to make and follow a digital strategy.
See here to two case studies of companies that successfully implemented a digital strategy.
Mind-blowing stats to guide your e-commerce digital strategy
That a digital strategy is important in e-commerce is not only something we are stating, but a lot of leaders in the e-commerce world have done research about this topic and the following stats collected by Magento show that not only the e-commerce world is changing rapidly, but also what a digital strategy can do for your e-commerce business.
- Global online retail sales will reach $4.2 trillion in 2020. (Source: eMarketer)
- Today, two in three businesses (66%) that sell online are already selling cross-border. (Source: Visa)
- While 65% of B2B organizations either have an eCommerce site or plan to launch one by year-end, a large number have no strategy at all. (Source: Gartner)
- Global eCommerce will surpass global brick-and-mortar sales by 2036. (Source: Chain Store Age)
- Nearly nine out of 10 consumers said they will make a complaint or take an action that could hurt a brand’s reputation and bottom line following a bad post-purchase experience. (Source: Pitney Bowes)
- On average, the conversion rate in eCommerce is 5% from the website to the basket and 1.4% from the website to sales. (Source: Styla)
- Nearly 86% of online retailers are investing in expanding their eCommerce experience over the next 12 months. (Source: Accenture)
- Across industries, 69% of customers want omnichannel and multichannel services, and multichannel customers are typically 15% more profitable than digital-only customers. (Source: Accenture)
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