Uncategorized

What Business Can Learn from Supermarkets’ Pandemic Playbooks

Vincent

1603981172-GettyImages-1230603730.jpg

Businesses across the board are struggling to meet the new demands put forth due to Covid. Increasing sales while decreasing operational costs is not an easy feat. However, the country’s nearly 40,000 grocery stores, classified an essential service during the pandemic, have had to adapt quickly without any downtime.

Only about 3 to 4 percent of grocery spending in the U.S. was online before the pandemic, but that’s surged to 10 to 15 percent, according to research by consulting firm Bain & Company. And in some cases, it’s much greater than that.

“Early on during the pandemic, we saw a 300 percent increase, on average, in online grocery sales among our clients compared to the same time period last year. Some of our clients successfully handled much larger online sales spikes. A single location gourmet market in Brooklyn, New York, for example, went from $53,000 to $388,000 weekly online sales at the height of the pandemic,” says Dan Dashevsky, COO of My Cloud Grocer, an ecommerce software platform for supermarket chains. The company offers a robust, customizable virtual storefront with a white-label platform that powers and integrates the full shopping experience.

As the current pandemic dramatically changes the landscape of retail around the world, smart grocers are utilizing technology to grow their sales while safeguarding their customers. Let’s look at the technology and tactics businesses are using, not only to stay afloat during these troubled times but to thrive.
Customer needs and their experience must come first

The customer experience should always be the driving force that determines how a website operates or which policies a company will enforce, but unfortunately. that is not always the case. During the pandemic, customers have complained that they’ve had to wait days or even weeks to receive grocery deliveries — not an ideal scenario when supplies are low and the need is greater.

“Many online grocery platforms are only showing available delivery times at checkout — after customers have spent 20-40 minutes filling their carts with products — causing additional frustration for customers when they realize they can’t get their groceries within a reasonable time and on top of that, they’ve also wasted their time,” says Dashevsky. “We made sure that our clients’ platforms display the available delivery and pickup times as soon as shoppers add the first item to their cart.”
Fred Schonfeld, CEO of Grand and Essex, adds, “Our goals were simple: how to best help the community physically and mentally during these unfamiliar and scary times. We stretched physically and monetarily to accept two to three times the amount of online orders daily, implementing all kinds of sanitizing and safety precautions to take care of and reassure those entering the store as well as those placing online orders with us, at the same time setting up curbside pick-up for anyone not comfortable leaving their cars.”

Related: What Every Entrepreneur Needs to Get Right About the Customer Experience
Serving the community builds loyalty

Going above and beyond has always been the name of the game. And in times of need, it’s even more important to bring people together and come up with solutions any way you can. When businesses act with this mindset, customers not only take notice, but they remember — creating loyal customers for many years to come.

“In a time of uncertainty and uncharted territory for everyone, with customer service being our core foundation, we knew if we stayed true to our fundamental purpose of serving the community, those values would lead us in the right direction,” says Schonfeld. “We kept our ears to the ground to find out which families were in need of emotional comfort and sent meals to those who had family members sick with the virus as well as those who, sadly, lost family members to Covid but could not be surrounded by loved ones at that time. When we learned of 120 college kids who had to stay in lockdown in their dorms for a weekend, we jumped on the opportunity to send them food as well. And even as our costs went up, we came up with solutions to creatively spread those costs across the business so as not to hit customers with large spikes in prices.”

Adaptability can make or break the business

The ability to react to consumer needs quickly and adjust to new conditions can be the determining factor in whether a business thrives or folds. During these tough times, we have seen examples of this every day, with many businesses struggling to survive the pandemic.

“While we already provided our clients with highly efficient fulfillment and delivery software before the start of the pandemic, we had to quickly create and deploy several new features because of the Covid situation to accommodate contactless delivery and tips given to personal shoppers and drivers,” says Yehuda Vernik, CTO of My Cloud Grocer.

Breadberry, an upscale kosher supermarket in Brooklyn, focused on gourmet catering to weather the storm. “During the pandemic, we were able to provide ready-made meals to customers at a time when restaurants were forced to close being deemed non-essential,” says Sam Gluck, CEO of Breadberry. “Customers flocked and utilized our convenient online ordering system which we had painstakingly built up over a long time while internally on the back-end, we were ready and experienced to handle the increased demand. Working remotely, our digital team got the word out and pretty quickly we went from being just a key local supermarket to a cross-city provider stretching multiple zip codes.”

Mayer Gold, VP of Operations of Seasons Kosher, said the spike in ecommerce business was unlike anything ever experienced. “There has always been an appetite for ecommerce, though we’ve never seen anything like the demand back in March and April,” Gold says. “Thankfully, years of experience in the space allowed us to pivot our focus to where customers requested it. It’s been interesting to see how first time users of our site have returned again and again to order their groceries directly from home, satisfied with the experience, even as Covid cases subsided in the areas surrounding our stores.”

Millions of customers turned to online grocery shopping, many for the first time, as the outbreak grew into a pandemic. However, now that many customers have experienced the convenience and ease of online shopping, they may opt to remain digital customers in the future — changing the retail landscape for good.

source: entrepreneur.com

The Website For African Vendors

Vincent

Copy-of-Wax-Marvels-Creations-Logo-Vector-Backing-Made-with-PosterMyWall.png

This is the best website for small business owners in Ghana and beyond.
On this website, the owner can register his shop at a very affordable price and start selling his products online.
The Registration fee can be sent to the admins number +233592182662–Vincent Ntim, with the shop’s name or the owners name as the reference before the store manager will approve the shop for it to start selling.
Million Business hub is here to help vendors who don’t have enough money to be able to sell their products online.

Today’s business is moving online. Don’t wait for others to make more than you even though your products are better than theirs.
#DigiGhana.

The Growth of Ecommerce.The rise of online stores

Vincent

Ecommerce now plays a vital role in our daily lives. It is redefining commercial activities around the world. Over the years, eCommerce has evolved in profound ways. As we proceed, we will learn about the growth of eCommerce and how to run an eCommerce business in this age.
What Exactly is E-commerce?

For starters, eCommerce is short for Electronic Commerce. It refers to the activity of buying and selling products or services over the internet. With the help of the internet, people can buy and sell virtually everything, like books, electronics, apparel, software, furniture. E-commerce provides a platform for people to buy or sell whatever they want, whenever they want.

Before the coming of eCommerce, the dominant form of commerce was the brick-and-mortar. Brick-and-mortar businesses are retail outlets that have at least one physical location. Buying and selling goods requires an active and physical interaction between the buyer and the seller. Brick-and-mortar commerce still exists, but, is quickly being replaced by eCommerce. In an evolutionary sense, most of the brick-and-mortar stores are transforming into eCommerce stores. Thereby requiring the establishment of an online presence and moving core business operations online.
The E-commerce Explosion

Let us look at statistics and trends that depict the growth of eCommerce globally. We are going to describe the growth of eCommerce according to a report published in 2019 by Aaron Orendorff to help businesses launch beyond borders.
Retail ecommerce sales worldwide
Retail ecommerce sales worldwide
Image Source: Shopify Plus | Global eCommerce market size: Retail eCommerce sales worldwide

The report presents statistics and trends about eCommerce since 2014 and also gives estimates of the future of eCommerce up to 2023. Cumulative data over the most-recently tracked period anticipates a 276.9% increase in eCommerce sales globally.

The following is a regional breakdown of the eCommerce market ranks in 2019.
The 10 largest ecommerce markets in 2019
The 10 largest ecommerce markets in 2019
Image Source: Shopify Plus | The 10 largest eCommerce markets in 2019
Asia and the US

E-commerce activities in the Asia-Pacific region represent over 70% of global eCommerce. China alone accounts for $740 billion, while the US accounts for over $560 billion in eCommerce sales. Estimates show that China will reach $1,086 billion in eCommerce sales by 2023. Similarly, the US is also expected to reach $735 billion in eCommerce sales by 2023.
Europe

Statistics from the report also depict the growth of eCommerce in European markets. However, Western Europe has accounted for the highest eCommerce growth in this region. The United Kingdom accounts for over $93 billion in eCommerce sales, which may grow to 31.5% by 2023. Similarly, Germany and France account for $77 billion and $55 billion in eCommerce sales, respectively.
Africa and the Middle East

Africa and the Middle East, however, portray the slowest eCommerce growth rates. The slow growth of eCommerce in Africa is due to low Internet penetration and slow adoption of technology by its population. E-commerce activities in this region only represent 1% of total eCommerce transactions worldwide. This estimate is expected to increase slightly by 2021.
Things to Note

As Internet penetration and accessibility increases, more people can benefit from the majority of online services, including eCommerce.
E-commerce has become mainstream in people’s daily lives with profound benefits.
The eCommerce sector is expected to break the net accounting for double-digit growth in all locations around the world. Of course, the highest emergency market growth rates are in the Asia-Pacific and Latin America regions. Countries in these regions are responsible for the greatest eCommerce market success. Also, as digital payment options becoming more prevalent in these regions, eCommerce will thrive immensely.
As of now, about 22% of the world shops online.
Retail eCommerce sales may reach $5 trillion by 2021.

Major Drivers of the Explosion

Let us look at the main factors that are responsible for the growth of eCommerce globally in a small time frame.
The Rise in the Use of Mobile Devices

The rise in the use of mobile devices globally has contributed to the growth of eCommerce. With mobile devices, people are buying and selling over the Internet more flexibly and passively.
The rise in use of mobile devices
The rise in use of mobile devices
Image by Hannes Edinger from Pixabay

Also, fintech companies are transforming payment methods, making them secure and simple to effect transactions. E-commerce businesses rely on these payment systems and are integrating them into their mobile applications. Customers are now more than ever, hooked to their mobile devices with fingers ready to pay.
Data-driven Nature

Statistical observations gathered by eCommerce businesses have also contributed to the growth of eCommerce. In the Business to Consumer model, eCommerce businesses track consumer preferences and make remarkable observations. These observations are then integrated into retail models for seamless future purposes, ensuring that eCommerce sales soar globally.
Improved Consumer Experiences

Consumers are usually in search of product offers at very affordable or discount prices. Personalization holds a higher command on customer engagement. Customers frequently encounter new product offers that match their interests and they can get with simple taps of buttons, without having to move their feet.
Low Cost

Another important factor responsible for the growth of eCommerce is the low cost of running an eCommerce business. Unlike brick-and-mortar stores, it is relatively cheaper to establish an online store than a physical one. E-commerce eliminates the need to build physical stores in which products are cataloged.

Also, eCommerce stores are accessible from any part of the world over the Internet. As a result, eCommerce stores are more accessible to customers globally and provide a passive experience for commercial activities.
E-commerce Giants: Everybody Wants to Rule the World

The eCommerce sector has become broad and diverse. However, some giants are ruling the eCommerce world. These are businesses that have established a monopoly of some sort and immense credibility in the eCommerce sector.

The most popular eCommerce businesses worldwide are Amazon, Alibaba, eBay, and Walmart. These eCommerce giants have redefined the retail industry irrespective of location. They accumulate revenues that exceed billions of dollars yearly. As internet accessibility increases, these estimates would skyrocket. At the time of this writing, Amazon is present in 58 countries, Alibaba in 15, Walmart in 27, MercadoLibre in 18.
Powering an E-commerce Store

At the moment, we have a fair understanding of how eCommerce has grown in the past years. The question many people ask today is,

“How can we launch an eCommerce store?”

When you consider the level of competition that exists in the eCommerce sector, this becomes an important question. However, the thought that the demand for goods and services is always rising is a comforting fact. Also, the giants that rule the eCommerce world today have already answered that question.

There are many ways to launch an eCommerce store, but, an effective one that is cost-saving and guarantees support is to use an eCommerce platform like Shopify or Big Commerce.

An eCommerce platform is a software solution that allows businesses to build and manage online storefronts. A storefront is any customer or business facing proposition relating to the selling of products and services. These platforms provide everything a business needs to sell online, on social media, or in person.
Benefits of an E-commerce Platform

Running an eCommerce store using an eCommerce platform helps you to:

Sell on a Global Scale: Using a single platform to sell products to anyone, anywhere — online with your eCommerce store, online marketplaces, and social media, and in-person with point of sale.
Market your Business: Use built-in marketing tools that help you create, execute, and analyze campaigns on Facebook and Google.
Manage your Business: Use a single dashboard to manage orders, shipping, and payments anywhere you go. Use insights provided to grow your business.

Consumer Experiences

Just as eCommerce is changing the retail industry, it is also changing consumer experiences in so many ways. In eCommerce, consumer experience revolves around three key aspects:

Consumers who shop online do so at their convenience, wherever, and whenever they want. Unlike brick-and-mortar stores, consumers don’t need to be physically present at the storefront to effect a purchase. At the consumer’s comfort, he or she can swipe through products and with the push of a button (or a few) complete a purchase. As a result, this saves time and guarantees satisfaction. Of course, this is very important to the consumer.

E-commerce businesses go the extra mile of personalizing consumer experiences. Consumer experiences can be tailored based on the consumer’s past transactions. E-commerce platforms use insights obtained from consumers’ histories to suggest product offers that match their interests.

By shopping online, consumers save a lot on time, money, and other valuable resources. All consumers need to do, is place an order at a convenient time and location, and it is then made available to them.
Conclusion

The eCommerce sector is rapidly evolving as the Internet becomes more accessible in different parts of the world. Traditional retail businesses are migrating to the eCommerce space. Therefore, expanding their reach to consumers and also staying in the competition.

The improvement of consumer experiences in eCommerce stores is evident. An increase in Internet accessibility, ease of transaction, plenty of products and personalized offers, absence of the constraints of a physical presence and interaction makes online shopping desirable to consumers.

Whether you are a business or consumer, eCommerce has many benefits for you. Learn more about powering online stores with eCommerce platforms like Shopify and Big Commerce.

The Growth Of Ecommerce

The rise of online stores

Aug 13, 2019 · 7 min read
 
 

commerce now plays a vital role in our daily lives. It is redefining commercial activities around the world. Over the years, eCommerce has evolved in profound ways. As we proceed, we will learn about the growth of eCommerce and how to run an eCommerce business in this age.

What Exactly is E-commerce?

For starters, eCommerce is short for Electronic Commerce. It refers to the activity of buying and selling products or services over the internet. With the help of the internet, people can buy and sell virtually everything, like books, electronics, apparel, software, furniture. E-commerce provides a platform for people to buy or sell whatever they want, whenever they want.

Before the coming of eCommerce, the dominant form of commerce was the brick-and-mortar. Brick-and-mortar businesses are retail outlets that have at least one physical location. Buying and selling goods requires an active and physical interaction between the buyer and the seller. Brick-and-mortar commerce still exists, but, is quickly being replaced by eCommerce. In an evolutionary sense, most of the brick-and-mortar stores are transforming into eCommerce stores. Thereby requiring the establishment of an online presence and moving core business operations online.

The E-commerce Explosion

Let us look at statistics and trends that depict the growth of eCommerce globally. We are going to describe the growth of eCommerce according to a report published in 2019 by Aaron Orendorff to help businesses launch beyond borders.

 

Retail ecommerce sales worldwide

Image Source: Shopify Plus | Global eCommerce market size: Retail eCommerce sales worldwide

The report presents statistics and trends about eCommerce since 2014 and also gives estimates of the future of eCommerce up to 2023. Cumulative data over the most-recently tracked period anticipates a 276.9% increase in eCommerce sales globally.

The following is a regional breakdown of the eCommerce market ranks in 2019.

 

The 10 largest ecommerce markets in 2019

Image Source: Shopify Plus | The 10 largest eCommerce markets in 2019

Asia and the US

E-commerce activities in the Asia-Pacific region represent over 70% of global eCommerce. China alone accounts for $740 billion, while the US accounts for over $560 billion in eCommerce sales. Estimates show that China will reach $1,086 billion in eCommerce sales by 2023. Similarly, the US is also expected to reach $735 billion in eCommerce sales by 2023.

Europe

Statistics from the report also depict the growth of eCommerce in European markets. However, Western Europe has accounted for the highest eCommerce growth in this region. The United Kingdom accounts for over $93 billion in eCommerce sales, which may grow to 31.5% by 2023. Similarly, Germany and France account for $77 billion and $55 billion in eCommerce sales, respectively.

Africa and the Middle East

Africa and the Middle East, however, portray the slowest eCommerce growth rates. The slow growth of eCommerce in Africa is due to low Internet penetration and slow adoption of technology by its population. E-commerce activities in this region only represent 1% of total eCommerce transactions worldwide. This estimate is expected to increase slightly by 2021.

Things to Note

  • As Internet penetration and accessibility increases, more people can benefit from the majority of online services, including eCommerce.
  • E-commerce has become mainstream in people’s daily lives with profound benefits.
  • The eCommerce sector is expected to break the net accounting for double-digit growth in all locations around the world. Of course, the highest emergency market growth rates are in the Asia-Pacific and Latin America regions. Countries in these regions are responsible for the greatest eCommerce market success. Also, as digital payment options becoming more prevalent in these regions, eCommerce will thrive immensely.
  • As of now, about 22% of the world shops online.
  • Retail eCommerce sales may reach $5 trillion by 2021.

Major Drivers of the Explosion

Let us look at the main factors that are responsible for the growth of eCommerce globally in a small time frame.

The Rise in the Use of Mobile Devices

The rise in the use of mobile devices globally has contributed to the growth of eCommerce. With mobile devices, people are buying and selling over the Internet more flexibly and passively.

 

The rise in use of mobile devices

Image by Hannes Edinger from Pixabay

Also, fintech companies are transforming payment methods, making them secure and simple to effect transactions. E-commerce businesses rely on these payment systems and are integrating them into their mobile applications. Customers are now more than ever, hooked to their mobile devices with fingers ready to pay.

Data-driven Nature

Statistical observations gathered by eCommerce businesses have also contributed to the growth of eCommerce. In the Business to Consumer model, eCommerce businesses track consumer preferences and make remarkable observations. These observations are then integrated into retail models for seamless future purposes, ensuring that eCommerce sales soar globally.

Improved Consumer Experiences

Consumers are usually in search of product offers at very affordable or discount prices. Personalization holds a higher command on customer engagement. Customers frequently encounter new product offers that match their interests and they can get with simple taps of buttons, without having to move their feet.

Low Cost

Another important factor responsible for the growth of eCommerce is the low cost of running an eCommerce business. Unlike brick-and-mortar stores, it is relatively cheaper to establish an online store than a physical one. E-commerce eliminates the need to build physical stores in which products are cataloged.

Also, eCommerce stores are accessible from any part of the world over the Internet. As a result, eCommerce stores are more accessible to customers globally and provide a passive experience for commercial activities.

E-commerce Giants: Everybody Wants to Rule the World

The eCommerce sector has become broad and diverse. However, some giants are ruling the eCommerce world. These are businesses that have established a monopoly of some sort and immense credibility in the eCommerce sector.

The most popular eCommerce businesses worldwide are Amazon, Alibaba, eBay, and Walmart. These eCommerce giants have redefined the retail industry irrespective of location. They accumulate revenues that exceed billions of dollars yearly. As internet accessibility increases, these estimates would skyrocket. At the time of this writing, Amazon is present in 58 countries, Alibaba in 15, Walmart in 27, MercadoLibre in 18.

Powering an E-commerce Store

At the moment, we have a fair understanding of how eCommerce has grown in the past years. The question many people ask today is,

“How can we launch an eCommerce store?”

When you consider the level of competition that exists in the eCommerce sector, this becomes an important question. However, the thought that the demand for goods and services is always rising is a comforting fact. Also, the giants that rule the eCommerce world today have already answered that question.

There are many ways to launch an eCommerce store, but, an effective one that is cost-saving and guarantees support is to use an eCommerce platform like Shopify or Big Commerce.

An eCommerce platform is a software solution that allows businesses to build and manage online storefronts. A storefront is any customer or business facing proposition relating to the selling of products and services. These platforms provide everything a business needs to sell online, on social media, or in person.

Benefits of an E-commerce Platform

Running an eCommerce store using an eCommerce platform helps you to:

  • Sell on a Global Scale: Using a single platform to sell products to anyone, anywhere — online with your eCommerce store, online marketplaces, and social media, and in-person with point of sale.
  • Market your Business: Use built-in marketing tools that help you create, execute, and analyze campaigns on Facebook and Google.
  • Manage your Business: Use a single dashboard to manage orders, shipping, and payments anywhere you go. Use insights provided to grow your business.

Consumer Experiences

Just as eCommerce is changing the retail industry, it is also changing consumer experiences in so many ways. In eCommerce, consumer experience revolves around three key aspects:

Consumers who shop online do so at their convenience, wherever, and whenever they want. Unlike brick-and-mortar stores, consumers don’t need to be physically present at the storefront to effect a purchase. At the consumer’s comfort, he or she can swipe through products and with the push of a button (or a few) complete a purchase. As a result, this saves time and guarantees satisfaction. Of course, this is very important to the consumer.

E-commerce businesses go the extra mile of personalizing consumer experiences. Consumer experiences can be tailored based on the consumer’s past transactions. E-commerce platforms use insights obtained from consumers’ histories to suggest product offers that match their interests.

By shopping online, consumers save a lot on time, money, and other valuable resources. All consumers need to do, is place an order at a convenient time and location, and it is then made available to them.

Conclusion

The eCommerce sector is rapidly evolving as the Internet becomes more accessible in different parts of the world. Traditional retail businesses are migrating to the eCommerce space. Therefore, expanding their reach to consumers and also staying in the competition.

The improvement of consumer experiences in eCommerce stores is evident. An increase in Internet accessibility, ease of transaction, plenty of products and personalized offers, absence of the constraints of a physical presence and interaction makes online shopping desirable to consumers.

Whether you are a business or consumer, eCommerce has many benefits for you. Learn more about powering online stores with eCommerce platforms like Shopify and Big Commerce

 

source: medium.com