Michigan Retail Insurance: Ecommerce Business Trends

Michigan Retail Insurance: Ecommerce Business TrendsFor retailers, creating a great in-store experience isn’t enough to retain customers. Consumer-Retailer relations are now based on a multidimensional approach. From the in-store experience to online eCommerce and the rise of mobile apps, consumers connect with retailers outside of traditional outlets. Social Media Today discusses the latest trends in online commerce, and predicts three key trends for the future.

Social sharing. A recent study by Social Labs found that 62% of all online shoppers have read product-related comments from friends on Facebook; 75% of these shoppers have ended up clicking through to visit the retailer’s site; 53% who click through end up purchasing the product. Social sharing includes products across a variety of social media sites from Facebook to Twitter. Pinterest offers a great opportunity to initiate social sharing of your products; check out Nordstrom or Lilly Pulitzer as examples. Think of it as a “pay it forward” effect. Every time a pinner “repins” your pin, they become an advocate of your product, increasing your audience exponentially.

Live online chat. This option has finally reached the tipping point of adoption, as studies see significant growth. 20% of shoppers said they preferred live chat over other communication methods for contacting a retailer, including retail and phone. The clients who used live chat also tended to shop more frequently, spend more, and are highly-influenced by the chat experience. By increasing your focus on online chat, you get real time engagement with consumers, building trust and fostering brand loyalty.

Mobile commerce. This is a nationwide trend regardless of the industry. Facebook has said mobile efforts will be a focus of their future business strategy. One survey found 39 million Americans made an online purchase using their phone last year. Make sure to optimize your website for mobile by simplifying your message and creating a clean user experience. Create a seamless mobile purchasing experience from placing the order to online confirmation to ensure ease and customer satisfaction.

No matter what technology trends the retail industry adapts to, you still want to get the best protection for your business. At Capital Insurance, we can cover your retail business against the unexpected. Our Retailer or Wholesaler Insurance services include the forward-looking plans your business needs. Contact us today for more information.