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How to Survive the Economic Downturn as an E-Commerce Store Owner

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How to Survive the Economic Downturn as an E-Commerce Store Owner - Advanced Commerce
The economic downturn is a difficult time for businesses of all sizes. However, e-commerce store owners face an especially challenging road ahead. In this blog post, we will discuss some ways that you can survive the economic downturn and continue to run your successful e-commerce store. By following our tips, you can keep your business afloat and maintain your competitive edge in today's tough market!

Make Your e-Commerce Store Visually Appealing & Easy to Navigate

First and foremost, it is important to make sure that your website is visually appealing and easy to navigate. In today's competitive market, first impressions are everything. If potential customers can't figure out how to use your website or find what they're looking for, they will likely take their business elsewhere.

A well-designed website is essential for any business that wants to succeed online. However, for an e-commerce website, website structure is especially important. A badly designed website will result in a high bounce rate, as users will be unable to find what they are looking for. This will lead to lost sales and a frustrated customer base. On the other hand, a well-structured website will be easy to navigate and will allow users to find the products they are looking for with ease. In addition, a well-structured website will be search engine friendly, meaning that it will rank highly in search results and attract organic traffic. As a result, investing in a good website structure is essential for any business that wants to succeed in the online world.

Tailor Your User's Online Experience

Another important tip is to focus on e-commerce personalisation. This means tailoring the user experience on your website to each individual customer. With the overwhelming amount of choice at a potential customers fingertips it's no wonder that they quickly navigate away from your site if they don't find items of interest in the first few pages. By providing a personalised experience, you will make customers feel valued, appreciated and, most importantly, increase the chances of that customer converting whilst encouraging them to keep coming back to your store, even in tough economic times.

There are various tools you can use to help personalise your customer's shopping experience, including GrapheneHC, our own online merchandising and personalization platform. It may seem counter-intuitive to invest during uncertain times, however those that are presenting highly personalised, engaging digital experiences for their users will fare far better when every customer visit counts.

Presentation of Your Online Store

Don't forget about the importance of presentation within your online store.
When you're selling products online, you should know that high-quality photos are essential in order to make a sale. Poorly lit, blurry, or otherwise unappealing photos will turn customers away faster than you can say "refund." And while it's important to have great product shots, it's also vital to ensure that those photos are consistent with the rest of your website and branding. That's why hiring a professional photographer is always worth the investment. Not only will they be able to capture your products in the best possible light, but they'll also be able to help you create a cohesive look for your site that will appeal to customers and make them want to buy from you again and again. So if you're serious about selling online, don't skimp on the photography - it could be the key to success.

Merchandising Your Online Store

Visit any brick and mortar store and you will be presented with a carefully thought out layout placing certain products, brands, price points and offers in such a way that the journey through the store is not only one of enjoyable discovery that flows, but also one that returns the highest return, in sales, for the retailer. Merchandising is a highly developed scientific process that brands invest heavily in, but all this 'science' is often forgotten when it comes to the online store and products are loaded in an almost random order with no cohesion, thought or control. Merchandising an online store effectively has a waterfall effect in cascading improved KPI's across all areas including increased conversions and Average Order Value, whilst also reducing returns.

If you want to know more about online merchandising and the effects it could have on your online store you can book an initial discovery call here.

By following these tips, you can survive the economic downturn and continue to run a successful e-commerce store. Online merchandising, e-commerce personalisation, and merchandising are all key components of a successful online business. By focusing on these areas, you can weather the storm and come out ahead in today's tough market!

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