These are some of the best times to be an e-commerce retailer.

Statistics show that there has been a 15.8% growth in the number online Consumers in UK over the past few years, not to mention the increasing popularity of online shopping. Experts suggest that in Europe alone there is a chance of 18.4% increase in e-commerce retailing by the end of 2016.

Now the retail trends have been evolving over these past few years, and it is only expected that you as a retailer remain at the top of your game. Personalization of data, business analysis as well as robust online marketing technique, are some of the important recent trends that you can incorporate for the big 2017 e-commerce market space.

The Big Game

This guide will tell you how you can unlock the potential of your e-commerce business by opting for these brilliant retail pricing strategies. It is relevant that you usher in 2017 on a technologically and economically advanced note.

Statistics suggests that 77% of the marketing experts believe that a planned and analysed approach to retail would enhance your digital marketing. Here are few other trends you can use to strategize your business plans to establish your presence in e-commerce space:

1. Adopt Omni-channel Marketing:

According to a recent estimate, approximately 70% of the UK consumers own a smartphone. If you are consistently available and connected to your consumers through phone, desktop and online web portals, then you will definitely be hard to miss.

Opting for omni-channel sales through various platforms would allow your consumers to personally connect with your retail brand. Therefore, a perfect Retail Pricing Strategy to opt for in 2017 would be to be available on Instagram/Twitter/Snapchat/Facebook/any other social media or to be available on their smartphones or on computer screens – let consumers be the king.

2. Market Your Content:

Your job as a retailer is not only to push the product or service onto the consumer but to under his/her needs and requirements. Generating a content that not only appeals to the consumers but also allows them to connect to your platform would be a great retail strategy.

If you are a retailer of fitness equipment’s, then create content that addresses people who are looking for your product but still haven’t gotten around to using it. Use content to motivate them, encourage them and allow them to trust your service and you as a brand name. Amazon, which is one of the highest grossing retailers in UK (it owns almost 16% of the UK e-commerce space) uses this retail pricing strategy to create a robust consumer base that equally participates in its functioning.

3. Enhance the Browsing Experience:

In 2017, your consumers are expecting all of their experiences online to be seamless. Not only your retail space should be well connected across all channels, but the UI (User Interface) should be smooth and attractive.

Connect to your consumers by making use of data on their tastes and preferences and customize your sales accordingly. Also, provide enough information on your website, be it having an FAQ section or a personal chat assistant, make sure that your consumer does not feel confused even for a second.

We believe that the consumers are smart and all of them are looking for a smart shopping experience online. Having a streamlined browsing experience in place would solidify your chances of shining in 2017.

4. Reward Your Consumers:

The time for cash on delivery and card-payments is already fading. In 2017, your consumers would have online wallets, fast payment options and hassle free online marketing experience.

One retail pricing strategy that you can adopt now is to ensure that your consumers, especially the loyal ones, do receive a reward in the form of either cashbacks in their wallets or loyalty reward points that ensures that your consumers keep coming back to your ecommerce website. Give them discounts, gift cards as well as partnered up offers to make their online shopping experience memorable.

5. Use Predictive Analytics To Promote Your Business:

Finally, if you are going all out to not only promote your e-commerce retail marketing, but also to ensure that you provide your consumers with the best retail experience ever, make use of predictive analytics. It would analyse the clicks, browsing patterns and habits of your consumers, so that you can personalize their browsing experience without feeling the need to spend their time looking for something that they need.

Ensure that the data you collect remains safe as that would boost the trust of the consumers. In 2017, one of the best retail pricing strategy that can get you to success is to ensure that your consumer feels safe browsing through your products and services online.

These are just a few suggestions to give you an insight into the retail trends that would be leading the year 2017. By keeping a pace with current technological and digital developments, there is no way you cannot maximise your success in the coming year.

References:

https://en.wikipedia.org/wiki/Omnichannel

http://www.intelligencenode.com/blog/5-online-retail-pricing-strategy-examples-worth-copying/

http://www.smartinsights.com/ecommerce/ecommerce-strategy/top-ecommerce-trends-inform-2017-marketing-strategy/

http://www.prnewswire.com/news-releases/top-10-ecommerce-trends-that-will-impact-retail-in-2017-601258535.html

http://www.forbes.com/sites/allbusiness/2014/01/16/12-e-commerce-strategies-to-grow-your-business-this-year/#444109276ec9