The retail industry is at its competitive best right now and customers are reaping the benefits of the battle! Personalized, unique retail experiences are what customers are vying for and retailers are looking for newer ways to capture an audience and have them return as well. Digital commerce is all about improving speed and convenience. Its importance in gaining better consumers and retaining them cannot be denied. Here is why digital commerce is the future of retail and why Magento, as a digital commerce platform, may be just what your business needs.
Infrastructural investments are in digital commerce: By the year 2020 digital commerce in ASEAN alone is expected to touch USD32 billion. This will cater to 50% of the ASEAN population which will be below 30 years of age and have the spending power. With 480 million Internet users expected to be on the grid by 2020, online purchases are naturally going through the roof. Over the next few years, the projected investment in digital commerce infrastructure will be at USD10 billion. Speed, omni-channel marketing and a non-invasive, subtle retail experience is what this infrastructure can assure.
One of the top features of Magento, as an ecommerce platform is that fact that it is an open source platform and therefore makes for a great infrastructural investment to any organization. The open source software allows you to use and edit it to your convenience. It also allows for a range of plug-ins and extensions that may be had from third party developers or from the large Magento community.
Your Business Will Benefit from Omni-Channel Commerce Services: A survey by Target Marketing in 2017 on the importance of a cohesive omni-channel experience for an industry showed that 74% of the responders found it important. In fact, a Google survey says that 85% of online shoppers will begin a purchase on one device and complete it on another. Implementing this will allow a brand to enrich its channels with full capabilities ensuring a consistent experience. You will also be able to create compelling and innovative content.
Magento comes with cross browser support that helps an experience run across multiple platforms. Your website may be accessed from anywhere and such accessibility also improves website ranking on search engines. The fact that Magento also has SEO capabilities built in helps additionally.
Digital Commerce helps to Expand Business: A recent McKinsey study estimated that 1.8 billion people will enter the consuming class by 2025, annually spending $30 trillion. Which essentially means that the world can be your marketplace. Digital commerce helps you expand your business and find your target markets.
The internationalization capabilities of Magento make it a preferred platform for businesses that are looking to go international. The platform also provides support for multiple languages as well as currencies. It gives you localization options for accented characters as well as running your text from right to left. It comes with a configurable list of countries with particular features.
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Digital Commerce helps you market a Niche Sector: Selling unique products and services becomes easier through digital commerce. It helps consumers understand products and services better through unique marketing strategies that directly speak to the consumer. Increased profits and lowered marketing expenses are key benefits.
To help you with a niche sector having unparalleled flexibility that comes from open source platforms such as Magento can be very good for the bottom line. It adapts to your specific requirements. Its cataloging features help support virtual products, manage inventory, create sets as well as work out other niche requirements. It also provides you with several tools for marketing and advertising to help cross sell, include promotional pricing, offer new products and discounts and more.
Digital Commerce Increases Your ROI: There is evidence to show that digital commerce can help bring in about 40% of their profit from a loyal customer base. In fact some of them can go up to as much as 75% of their ROI from repeat buyers. Being able to understand the buying patterns of such customers is possible in digital commerce thanks to seamless information gathering and consumer analyses. This will help an organization come up with specific approaches.
Magento offers seamless experiences, from checkout to shipping to payment. This ensures you have customers who return for the great experience. To enable a company to maintain this, Magento also has complete site management woven into the integration experience. These are templates for management that can be customized as well. This gives you the flexibility to manage things without getting caught up with unnecessary roadblocks.
For many ecommerce businesses, Magento, as well as the newly upgraded Magento 2 has provided a base of comfort and ease. It provides retailers with the ability to provide a customized and unique user experience to its clients. Growth can be accelerated by bringing in return customers who come in from the seamless experience and are able to do so from anywhere in the world.
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