5 Ways Retail Stores Can Fight the Booming E-Commerce

Virtual carts get filled up as retail stores dry up their money. So save those shops with these ways to fight the booming e-commerce. 

What used to be Singapore’s most famous shopping centre is now deserted. Then, orchard Road was where busybodies would avoid every weekend due to throngs of shoppers bustling from one shop to another. Nowadays, though, shops permanently close one after the other.

Some are left struggling to hope to get the shoppers back into their brick-and-mortar shops. However, the thing of the past will never be the same. It considers the skyrocketing success of e-commerce.

The Sudden Shift

More Singaporeans shop online.

There has been a massive shift in buyers’ behaviour over the past five years. As a result of the slow economic outlook, there is a 78 per cent increase in their online shopping activities. Moreover, Singapore is on the rise to cashless. Cards have made online shopping more convenient than ever.

PayPal’s recent survey showed that 38% of adults interviewed in Singapore will still do online shopping in the future. They explained it is more accessible.

Singaporeans embrace cross-border online shopping.

Compared to European and western countries, Singapore scores high with open attitudes to cross-border shopping.

The PayPal Cross-Border Consumer Research last 2016 revealed that Singaporeans are comfortable making purchases on foreign websites. The trust in online stores based abroad is the same as their trust in local shopping websites. It is no wonder that Singaporeans ranked as the most confident cross-border online shoppers in the Asia Pacific.

It is especially true now with MasterCard’s Zero Liability campaign. It gives security against fraud to shoppers using their cards. You will not be accountable for any “unauthorised transactions.” However, you must promptly report the loss of the card to your issue.

Smartphones are made smarter with mobile shopping apps

Undeniably, a lot of Singaporeans have a fast-paced lifestyle. Instead, they would use mobile shopping. It will save them more time, energy, and effort to get to the store and pick what they need. Joining the crowd to shop for an item is a thing of the past.

In addition, there is no need to carry heavy shopping bags. Purchased items will be delivered right to your doorstep. In 2016, mobile shopping increased by 42% in just a year. Singaporeans’ forecasted total online spending is S$3.5 billion. A third of it ($1.2billion) is coming from mobile shopping.

There is no stopping Lazada, Qoo10, Carousell, Zalora, EZbuy, and Redmart from invading people’s shopping experience.

Credit: https://www.facebook.com/icco.sg/

How Can Retail Stores Fight the Booming E-Commerce?

Personalised websites

Physical retail stores may seem traditional. But, what’s stopping them from using the internet to engage customers? A relevant website can help you track your customer’s digital journey. You can use this to give personalised services and assistance.

Get up close with your clients through social media

The digital tools are right at your fingertips. Take advantage of social media. Let people know that you have something great in store for them. Also, look for your target clients. Then, engage them by showing what is unique in your shop.

You can use social media to reach your clients. Moreover, get more insights. People will definitely talk about customer service, products, usage, quality, and hours open.

Show your merchandise

Singaporeans usually visit online stores to look for an item. Make them know that you offer something they can’t buy anywhere else. Have limited edition designer collaboration. It is why people were crazed about Hello Kitty outside McDonald’s in 2000. However, make sure that you can deliver what you have promised.

Events and activities

Recreate your store as an event space. For example, have a meet-and-greet event or make a children’s day out activity. If you can, have lounge areas in your shop. Make a reason why people should go down to your store and spend time there.

Furthermore, you co-host events and support charity works. In addition, choose giveaway promos which are worth their time.

Let people associate your store with the word “fun.” Let them enjoy the place even if they do not have to purchase because chances are they will buy something eventually.

Award freebies and discounts for in-store purchases

Some online shoppers reveal that they shop online because many items are cheaper. So aside from saving the effort of checking the store personally, they can keep their money. Everyone loves discounts and freebies. So make the promotion worthwhile.

Take the time to announce this promotion on your social media accounts and clarify your store location.

Conclusion

We are at a time when e-commerce can eat up the retail stores. Retail store owners must not let themselves get behind the ever-changing marketing strategies. You may have the traditional brick-and-mortar shops, but you need to make a website and reach your customers the way e-commerce merchants do it.

If you need quick cash to boost your retail store, apply for a business loan in Cash Mart. The legit moneylender approves a personal loan to credible borrowers.