E Commerce is the transaction of buying or selling items or services over the internet. The diverse world of E Commerce is increasingly popular and is in constant competition to offer consumers the best prices and speedy delivery. From Amazon to eBay, Shopify to Overstock.com; there is a seemingly endless availability of online retailers offering anything from video games, to attire and home goods.
With a wide array of options, each individual online retailer has begun to take steps toward individuality, or making changes to stand out from the competition. Over the next few minutes I will go over in detail some of the ways in which E Commerce sites are working to draw in more consumers, choosing their services over the service of another online retailer.
Amazon.com is perhaps the most well-known and widely used E Commerce site out there. It has set the standard for online retailers of all kinds. Recent studies have shown that Amazons dominance is due in large part to the sites personalization options during product searches. It is due to this personalization that online shoppers choose Amazon over Google on a daily basis. While Amazon grows in popularity, other online retailers are working hard day and night to become worthy contenders.
How can other E Commerce sites compete?
Beginning with the online giant known as eBay, different online shopping sites are slowly awakening, ready to compete with Amazon. While many think of Ebay as an online auction house, new owner John Donahoe has bigger plans in mind. For starters he has partnered Ebay with massive retailers like Home Depot and Toys �R’ Us, increasing the availability of different types of products. In addition eBay has made a total of 34 acquisitions over the period of the last five years, with most of them aiming to provide the company and its retailers with the most up-to-date technology available.
While many companies might feel like they cannot even begin to compete with a retail giant like Amazon, this is simply not true. There are a few adaptations you and your company can make to contend.
· Narrow product options – Amazon sells virtually EVERYTHING. Specializing in one or two niches can help set you apart.
· Subscription services are growing in popularity. Utilizing this system will help draw in more consumer traffic, guaranteeing the weekly or monthly sale of products.
· Shipping options should stand apart from other E Commerce sites. Offering options like flat-rate free shipping is likely to please.
· Stellar customer service will not only maintain your current customer base, but by word of mouth it will also attract new buyers.
The bottom line?
While sites like Amazon and eBay currently topple the E Commerce world, it is not impossible for your small to medium online business to throw some competition their way. By simple specializing in what these businesses lack, or picking up where they need improvement, people will start to see a clear difference between your company and the others. Do not hesitate to research these big name retailers to find out what you could do better!