The eCommerce industry seems to have taken over and become a part of our life, and according to the predictions made by the industry pundits, it is here to stay. The global e-retail sales are expected to touch 6.54 trillion U.S. dollars by 2022. So, what are the key factors that are driving this trillion-dollar sale, and what do the e-retailers need to focus on to make sure that they get their fair share of this pie?
The answer to this key question, which all the eCommerce marketers toy with, lies in a few more statistics and analytics, that have become the backbone, driving this industry. Analytics plays a crucial role in understanding the market factors and arriving at strategies that can help bring the merchants closer to customer expectations. Here are a few important numbers that can bring home the significance of three key factors that need to be taken into account, namely: fulfillment, packaging, and shipping. These factors actually go beyond the obvious and help you create value for your brand out there, differentiating you from your competitors.
Factor #1 - Shipping
It is now a well-established fact that most eCommerce shoppers abandon a cart due to high shipping charges; in fact, the number stands at a whopping 74% of respondents. Also, 58% of those surveyed indicated, free or discounted shipping as the main factor to improve eCommerce. At least 25% of the people participating in a study indicated that unexpected shipping costs seen at the last moment, as the reason for abandoning their cart without making the purchase. There are many more numbers like these from various research companies that suggest that shipping plays a very important role in eCommerce sales.
A well-charted shipping strategy can actually make complete fulfillment, packaging, and shipping experience a good one for the customer. Communication about the order being picked up by the shipping agent, its tracking details and tying up with a professional shipping partner can help make this experience a very good one; one that can help keep the customer and also keep bringing them back. On the contrary, one bad experience can actually mean a loss of customers and indirectly, many more.
Factor #2 - Packaging
The packaging is another important factor that can make or break your eCommerce sales, say the market-watchers. Again, there are a number of statistics that indicate the importance of packaging in this industry. While it is a steadily growing industry, with more and more people taking to it, it is also true that certain factors like fulfillment, packaging, and shipping can decide the course of your revenues and your growth; not to mention, of course, the even more important aspect of branding.
The box that carries the product to your customer is much more than that. It is a brand, an identity, and one that goes places! Apart from ensuring the safety of the contents inside, the box can actually make statements about your brand, with messages, taglines, colors, and more. There are amazing accessories in packaging that are now available in the form of:
- custom tapes
- shipping boxes
- folding carton boxes
- mailer boxes
- custom stickers
- tissue papers and more!
You can check out the options at Arka, who promises some amazing stuff in this domain. Arka provides you multiple options for packaging at competitive prices, quick turnarounds, and minimum time, with the promise of eco-friendly materials as well. Whether you need custom retail boxes or cosmetic boxes they can help you create the perfect box for your product!
Another aspect to consider here is that most people share their unboxing experience videos, or share their package pics on social media. This means you can actually get some excellent attention, free of cost. It is up to the eCommerce merchants to make sure that what is shared in the social media about them and their packaging is beautiful and appealing to attract more customers.
Factor #3 - Fulfillment
The last, but not the least of the three factors: fulfillment, packaging, and shipping, happens to be fulfillment, which is actually about the last mile delivery. Customers can change their purchase decisions based on the number of days it takes to fulfill the order or the amount you charge for the same. 53% of customers quote speed of delivery as an important factor, while 25% say they have even canceled orders due to slow fulfillment speeds. What is more important is that 38% of them also say they never return to a merchant who has given them a bad fulfillment experience.
It is evident that your fulfillment strategy happens to be one of the important factors that not just attract customers, but also retain them. In a competitive market, this could really mean a make or break situation, since the time and effort taken to attract customers in the first place is quite huge. One sale should be able to bring in the loyalty and the word of mouth that can become your indirect marketing strategy.
It is clear, therefore, that fulfillment, packaging, and shipping are three important factors that are linked to one another and can help eCommerce merchants to achieve the intended results, to not just survive, but also, make their presence felt.