2024 Predictions: E-commerce and Retail

Where do customers want to shop in 2024? Everywhere. Here’s how local businesses can impress them and get them to purchase.

In 2024 local businesses should be looking to expand the channels and ordering methods that customers can use to shop. Physical and electronic channels should be tied together and more engaging.

Making every order option available for customers

To provide the best customer experience in 2024 local businesses should have a robust e-commerce presence. Enabling them to offer more ways for customers to discover and purchase, either digitally or in physical stores.

“If a customer wants something now, and they know that a big box retailer has it at a store right down the street, they want to make sure they can order on their phone, while they’re sitting in front of the TV,” said Keith Kirkpatrick, research director, enterprise applications for The Futurum Group. “They want to make sure it’s in stock, and that it will be ready at 10:30, so they can go there at 10:30 and it’s there.”

The blending of physical and digital channels really picked up during the first year of the COVID pandemic. Now, there’s no going back. Businesses need to be everywhere.

“It’s a more efficient way of doing things, and it puts the customer first,” Kirkpatrick said.

The ultimate goal is to provide customers with seamless digital and physical experiences at every step of their journey. However, it's the digital aspect that truly enhances and propels the overall experience, whether it's a basic receipt or a survey sent via email to a customer after their in-store purchase.

For brick-and-mortar stores, improving their e-commerce game will help fill the gaps so they aren’t neglecting valuable online prospects, sales, feedback and inquiries from customers. Services providers (advisors, coaches, etc.) this applies to you too.

Embrace technology to offer prompt, personalized responses, boosting your chances to acquire more customers, and provide a superior customer journey and satisfaction.

Using AI with optimal tone and style consistency

We mentioned AI in our last letter, use it to your advantage. E-commerce and big businesses can only approximate the human warmth experienced by a successful in-store purchase at your local shop or office. Local businesses have the advantage here, extend it through to the tech you use.

Make sure your website, social media profile, digital ads, automated responses, etc. reflect the in-person experience so when they come in customers feel they already know you.

Use shoppable ads to drive e-commerce sales

When you do digital ads in 2024 they should be shoppable ads. Talk to your ad manager about it.

Samsung Ads did a survey with TV shoppers and found that shoppable ads produce great brand call to mind, in addition to interaction with the brand. Not only did 55% of respondents recall seeing the ad, but half of those who remembered the ad also interacted with it.

As we've said before, use the info from these big brands and use what applies to your local business. Do to discounted thinking "but that's Samsung".

In 2024, make sure your customer's path to purchase is the easiest and as frictionless as possible.

Gen Z and Millennials are digital natives

Don't think your customer base is this demographic? Think again. They aren't kids anymore, they are in the workforce already.

They need the product or service you offer. And they are native to the digital world.

We may complain they have less attention span that a squirrel but they are the growing customer base. If you have a restaurant, they need to eat. If you are a CPA, they need to file taxes. If you are financial advisor, they need help saving. If you are a chiropractor, then throw their backs too (even if it's from tripping over the cat). You get the point.

And they live online, offer them what you have online and if needed bring them to your store or office.

Soon we will drop the 'e' in e-commerce

And it will be just one seamless experience.

Remember, it all starts with your ideal client discovering you exist. And today clients live online and want things easy and fast.

Give it to them, give it to them where they are: online. And bring them into your store or office to make the experience memorable, even if it's just for a donut or coffee, you will have a customer for life and a raving fan that will tell all their friends.

How are you going to incorporate or boost your online presence to grow your local business?

Comment below or reply to this email and share the ideas.

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