This is the first in a three-part blog series on the 3 Global E-Commerce Tactics to Address for Success in 2023. Read the second instalment on increasing your product visibility and third instalment on shoppability and driving excellent digital shelf execution.
The 2022 holiday rush is over — but it’s no time to ease up on e-commerce execution. With economic uncertainty looming, 2023 is already shaping up to be more challenging for brands and retailers than recent years.
Recession or not, marketers can take swift action to safeguard their businesses and stay resilient in the face of ever-changing consumer behaviour. While the pandemic forced consumers online, today, many choose to shop multiple digital channels in favour of convenient browsing, product research and click-and-collect options.
What does consumers’ growing multichannel presence mean for you?
Consumers Today Are Unattached to Specific Channels
Recent ChannelAdvisor survey data reveals marketplace popularity continues to grow among consumers. The thing is, marketplaces have become much more than portals for online transactions. Seventy-six percent of global consumers now say they use multiple marketplaces on a regular basis for browsing, shopping or buying. Twenty-one percent even use three or more, while 16% say they use four or more.
But marketplaces aren’t the only places where digital shoppers are spending their time. Globally, 82% of consumers now say they use more than two digital touchpoints in their buyer journey. That’s because opportunities for interaction are everywhere, from social media and digital ads to chat and customer forums.
Expand Channel Presence to Capture More Consumers
Growing marketplace and channel prevalence means fighting harder than ever for consumer attention. It also requires expanding your channel presence beyond traditional outlets and marketplaces. Consider:
- Where does your target audience spend most of its time (e.g., TikTok, Amazon, in-store)?
- Where do they expect you to be?
- How easy is it for your fans to make a purchase — even when they’re not on your site?
It’s important to meet consumers wherever they discover and interact with your content. Expand your sales presence on new marketplaces, whether through well-known giants like Amazon and Walmart or niche and emerging channels that fit your brand.
You may also consider global channel diversification. Look beyond domestic marketplaces to international hubs like Zalando, Rakuten or AliExpress if your business can profitably sustain it.
ChannelAdvisor supports an astounding 370+ marketplace and retail sites globally, making it easier to reach new audiences and drive additional sales while reducing your operational complexity.
ChannelAdvisor Brings Clarity to the Unknown
You can’t always predict consumer behaviour or economic volatility — but you can stay alert and proactive in your e-commerce approach. With a multichannel e-commerce expert in your corner, you can stay ahead of the curve and stand out from the pack. ChannelAdvisor helps you monitor customer shopping behavior, stay informed of rising e-commerce trends and expand to new channels, all from one centralised platform.
Download the full eBook, 3 Global E-Commerce Tactics to Address for Success in 2023, for more tips and tactics as you navigate the year ahead.