Over the past year, e-commerce has skyrocketed as consumers shift their shopping habits from offline to online due to the pandemic. Even traditional brick-and-mortar stores have adapted to the digital transformation. It’s no surprise that the Hong Kong retail industry has been hit hard by the pandemic in 2020.
According to the Census and Statistics Department, the total sales value of the retail industry last year dropped by 24.3% compared to 2019, with a record-breaking annual decline of 25.5% in total sales volume. But does this mean that physical stores are losing their value and survival space?
Convenient and diversified online shopping provides consumers with a good shopping experience, coupled with the maturity of electronic payments. It is expected that online sales will continue to grow steadily. On the other hand, as the pandemic eases and physical stores reopen, many online consumers are expected to return to physical stores. How can retail brands grasp the right operational and sales strategies to maintain business development?
The O2O (Online to Offline) retail model will become an effective solution and trend. If store owners can effectively integrate and use the resources and data of their online and offline stores, they can complement each other and bring greater business opportunities for their brands.
Expanding Online Sales, Reaching More Potential Customers Through Social Media
According to a survey by social media management platform Hootsuite, over 43% of respondents have increased their social media usage during the pandemic. Retail brands can leverage social media platforms to share information and promotions from their physical stores with online users, converting offline purchases into online orders and minimizing the impact of social distancing measures on foot traffic.
Store owners can also use the level of engagement (such as likes, shares, and comments) to understand consumer feedback on products, continually improving them to better meet their needs. By utilizing online data analysis, you can allocate digital marketing resources more accurately and target a vast potential customer base.
In comparison to offline stores, social media platforms allow store owners to spread their brand message more widely. By continuously updating the status of their products, they can establish closer connections with existing or potential customers, strengthening their loyalty to the brand.
Online-Offline Collaboration, Creating a Unique Shopping Experience
In addition to online promotions, store owners can try fully integrating their online and offline sales strategies to create a more complete shopping experience for customers. For example, offering shopping discounts through online activities or member emails that can be used in physical stores. Diversified shopping processes, such as Buy Online, Pick-up in Store (BOPIS) or Buy Online, Return in Store (BORIS), can greatly increase the convenience and flexibility of shopping.
According to a Forrester survey in Q1 2020, about 79% of retailers or brands believe that BOPIS is a retail trend and plan to launch it by the end of 2020. This arrangement provides incentives for consumers to visit physical stores. When they pick up their orders in-store, it increases their chances of encountering other products, triggering purchasing desires and promoting additional transactions.
For consumers, the online-offline shopping model can save on shipping costs and simplify return procedures. They can also enjoy personalized sales and customer service in physical stores, experiencing a unique and intimate shopping process.
Revolutionize Your Logistics System, Maximize Your O2O Sales Potential!
In today’s world of online and offline sales, a logistics system that seamlessly integrates both e-commerce and brick-and-mortar operations is crucial. With e+Solutions, you can effectively track real-time inventory levels and order statuses. Our logistics team is also equipped to handle various forms of order processing and delivery, including online ordering, doorstep delivery, in-store pickup, and restocking for physical stores – catering to all your retail needs.
In addition, e+Solutions’ system seamlessly integrates with e-commerce platforms, providing real-time order updates and ensuring speedy and accurate delivery to customers both online and offline. With this powerful O2O solution, retail brands can unlock endless possibilities for growth and success!
Encountering any e-Commerce logistics troubles? e+Solutions can help you! From goods storage and management, handling and packaging, to arranging last-mile, we can meet all your logistics needs while allowing you to operate an online store easily!
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