It is expected that by 2027, 59% of global sales will be made online, and the size of the global e-commerce market will reach more than $9.4 trillion. These trends offer new prospects for business development, but growing competition makes it more difficult to attract customers. In this article, we have explored the field of e-commerce and how to increase your online shopping sales.

What is e-commerce

E-commerce is often associated with online stores, but this industry also includes marketplaces, software implementation services, online banking, courier services, logistics companies, transportation services and many other niches.

E-commerce is a branch of the economy that unites all possible trade transactions, financial transactions, services and business processes that take place in the online space.

E-commerce systems provide entrepreneurs with the opportunity for lower operating costs, huge audience reach and 24/7 sales. E-commerce also simplifies the shopping process by paying for the required goods online with delivery at home or at the branch of delivery services.

According to Forbes, the e-commerce market grew at 9.7% in 2022. The total volume of online sales amounted to $5.7 trillion and the number of buyers over 2.6 billion.

Against the backdrop of global digitalization of society, widespread availability of the internet and consumers' desire to save their time, the e-commerce industry has shown rapid development over the past few years. E-commerce is becoming the most promising niche for building a business and successfully scaling it to a global level.

How to increase sales in an online store

Many entrepreneurs invest a lot of resources to increase traffic to their sites in the highly competitive e-commerce market. But for success in online business it is important not only to create a constant flow of new visitors, but also to provide an environment to maximize the satisfaction of existing customers. This will foster customer loyalty and encourage repeat purchases, positively impacting the number of sales.

We have identified 5 of the most effective tools that will help you effectively increase sales in your online store:

  1. A fast and attractive website

A quality designed and populated website is a key success factor for every online store. More than 70% of users close the website and never return to it again if it loads slowly or they find it difficult to find the product they are looking for. Fast loading pages of an online store also increases the site's position in search engines, providing more effective customer engagement.

Convenient product catalog and site navigation, availability of filtering and search hints for popular queries help customers to find the goods they need faster. In addition, high-quality photos and detailed descriptions of products have a positive impact on the desire to purchase them, and personalized offers and recommendations of popular products increase the average order value. Optimizing the online store and adapting it to the mobile version improves the user experience and contributes to sales growth.

  1. Referral programs

People tend to trust the recommendations of their friends and acquaintances, which is why various referral programs have become one of the most effective tools for attracting customers.

A referral program is a partnership system that encourages existing customers to recommend a company or its product for a certain reward.

When implementing a referral program in your online store, you should ensure that all partners are registered and provided with unique referral links. When the referral link is clicked and a product purchase is made, the member who referred the customer receives their reward in the form of a commission on the sale. Integrating the right referral program tools into your online store and creating an attractive rewards system allows you to quickly increase sales without spending a lot of money on promotion.

  1. Customer support

80% of online shoppers believe that customer experience plays a critical role in their purchasing decisions, and one of its main components is quality support. That's why it's important for online retailers to create a customer support team that provides quick answers to questions, product selection assistance, and personalized service.

The use of messengers, email, corporate telephony and other channels helps to build a flexible system for communication with customers. In addition, the introduction of automated chatbots guarantees quick responses and 24/7 support. A well-coordinated support service increases the rate of customer satisfaction and their confidence in your online store, encouraging repeat purchases.

  1. Optimization of warehouse accounting

Fast and accurate order fulfillment significantly increases customer confidence, which has a direct impact on increasing sales. Optimization of warehouse accounting in turn provides true information in the online store about the availability of goods, as well as reduces the time of processing and collection of the order.

Integration of a reliable warehouse accounting system allows automated tracking of all goods in stock and real-time control of balances. In addition, by analyzing sales reports, you can plan purchasing and reduce costs by avoiding over or under stocking. The overall warehouse optimization system improves the efficiency of your online store, allowing you to exceed customer expectations and increase customer retention rates.

  1. Different payment methods

According to Statista, more than 50% of online shoppers are willing to leave their order in the shopping cart due to the lack of a desired payment method and move on to another website. In accordance, the more payment methods an online store offers, the more likely a customer is to find the right method and place an order. By connecting PayPal, Apple Pay, Google Play and even cryptocurrency payment systems, you provide customers with a wide range of options and convenience in paying for their order, increasing their loyalty and stimulating an increase in the number of sales.

Despite the limitless prospects of the e-commerce market, building a business here requires an understanding of the key principles of attracting and retaining customers. Successful development is possible only when customers are satisfied with the interaction with your online store, ready to return and motivated to share it with their loved ones.

If you want to achieve constant sales growth in your online store, follow the link https://flawlessmlm.com/en/mlm_consulting and submit your application. The FlawlessMLM team will help you develop an attractive website with built-in automation and inventory management, and integrate a referral program to quickly scale your online business.