|Esquire Technologies Press Release|
E-commerce is starting to tick
Consumers are turning to the Web for product information, recommendations and purchasing decisions, says Asgar Mahomed, MD of Esquire Technologies.
|Issued by: Inkworks|
[Johannesburg, 8 September 2015]
The distinction between retailer and e-tailer is becoming less defined, as more consumers turn to the Web for product information, recommendations and also for purchasing decisions.
According to Asgar Mahomed, MD of Esquire Technologies, in 2015 this line will continue to be the same – and the distinction will become more blurred.
Brick-and-mortar companies still lead, but people are shopping more online. "Brick is meeting click," said Mahomed.
Very fast checkouts are important strategies for e-commerce merchants to embrace.In 2015, retailers need to bring their e-commerce game to the fore, or else lose out to this changing market.
"Today's end-user is not only knowledgeable about which product he or she wants at what price; they also wants comprehensive reviews and information, inventory availability, and fast – and this must often be free and sometimes with overnight shipping. Consumers are becoming less like grandparents and are now more savvy, demanding, and geared towards online shopping. Times are changing. While online retail is still only 3% of shopping in South Africa right now, this is going to change," said Mahomed.
Customers are likely to be less loyal and will look at price and product quality – and speed and cost of delivery. E-tailers will have to work hard at customer retention.
It is likely that increasingly savvy shoppers will keep an eye on checkout totals very closely, which makes shipping estimates, delivery dates, sales tax, inventory availability and final pricing critical. If an e-tailer gets this wrong, it could lose customers – and fast, even on Facebook and Twitter platforms. They are seeming to becoming more popular, said Mahomed.
According to a recent white paper, social commerce sales of physical goods are projected to grow by 93% per year in the US, reaching $14 billion by 2015.
Due to this factor, e-commerce merchants will have to "socialise" more if they want to stand out from their competitors and safeguard their brands.