3 Ways To Get Your Business Better at E-Commerce
A new report digging into 82 brands has found where people are excelling or falling behind in succeeding in E-Commerce. The findings come from Digital benchmarking firm L2 Inc and are derived from results from its second annual Intelligence Report: Localization 2017.
The report digs into Content Localization, Social Localization, and Cross-Border E-Commerce strategies. The report covers businesses of Activewear, Apparel, Beauty, Luxury, Non-Apparel Specialty Retail, Pure Play Retail, and Watches & Jewelry which makes a pretty good cross-section of business.
The concern of the data is for international brands to succeed overseas, and not just in their own local market.
“While international expansion is often seen as an answer for revenue growth, variables like languages, currency, platforms, fulfillment options, and consumer preferences challenge brands to develop offerings that scale effectively across markets,” explained Evan Neufeld, VP of Intelligence research at L2. “Leader brands have deployed digital tactics that enable them to navigate global markets by balancing the creation of select localized content with improved e-commerce capabilities.”
Key findings from L2’s report include:
Global Commerce Must Be Mobile
If you want to succeed online, you’ve got to make sure your site is mobile friendly. Even from an SEO perspective where Google ranks mobile friendly sites higher.
Ninety-nine percent of the 652 local e-commerce brand sites tracked are mobile friendly. However, only 7 percent of these sites accept mobile payments, indicating a missed opportunity as smartphones continue to surpass desktops to be the preferred device for browsing and buying. Adoption of mobile payments is highest in China (22 percent), Korea (21 percent), France (12 percent), and the US (11 percent).
Longtail Tactics = Differentiation
Streamline the process. Make things as simple as possible. If a user needs to hit the “translate” button in the URL bar, you’re not going to get a sale out of them.
Certain localized features are widely adopted among brands including desktop sites in local languages (95 percent), localized product description pages (95 percent), and local returns accepted (93 percent). Yet top brands differentiate themselves with scalable technology like auto-detecting a user’s country (61 percent), automated live chat (20 percent), and site templates (up 44 percent in Brazil and China since 2015).
Social is Local
It adds a ton of extra processes to the workload but having localised sites can be a boon for business.
Brands face a tough decision when it comes to planning their global social media strategies. CPG and Beauty brands invest in upwards of 20 local social accounts, while Luxury brands average only 2.
“While brands have begun to acknowledge the importance of localizing global strategies, they continue to struggle to fill the gaps between their investments and consumer expectations,” reiterated Mike Froggatt, Director of Intelligence research at L2.