Take a careful look at the 2017 Black Friday and Cyber Monday sales figures which beat all previous records.
- Online revenues reached $1 billion for each one of the initial 22 days of November.
- Earnings on Thanksgiving Day amounted to $1.52 billion earlier than 5 pm (EST).
- Earnings hit $5 billion during peak 24 hours of Black Friday.
- Revenues for Cyber Monday totaled $6.6 billion.
- SHOPIFY reported a gross merchandise volume of $1 billion in four days and processed $1,138,547.17 every minute in sales two times more than the $555,716 per minute in 2016.
These remarkable statistics only proved that outsourcing contributed immensely to the successful sales of Black Friday and Cyber Monday in eCommerce.
The Key to Increase of Sales Earnings
Market research showed that eCommerce sales all over the world would declare substantial gains until the end of this year and increase 23.2% to around $2.290 trillion accounting for one-tenth of the overall global retail sales. Economic analysts consider outsourcing as one of the leading factors along with the outpouring in the consumer base particularly in emerging or future markets.
Increased utilization of mobile online channels, better payment and shipping alternatives, and significant brands shaping new marketplaces also contributed to the upbeat outcome. The conditions dictate that consumers will look forward to better service from web-based merchants. People will search for merchandise relevant to them, discounts or perks, and picture-perfect purchase checkout experience.
In other words, consumers will exceed operational fundamentals and expect enhanced experience in mobile, capability of checking inventories, additional decision-making tools, and extra service. Electronic commerce companies must ably respond to several critical challenges.
How Subcontracting Helps
Online sellers can opt to outsource but require proficiency and external support. A capable provider of Information Technology and Business Process Outsourcing can provide these companies with dependable software apps that guarantee security and user-friendly checkout procedures. The internal IT department can outsource functions like design and development, testing, and QA for all applications. Other tasks the company can contract out include updating of web pages, maintenance support, and monitoring of networks or servers.
BPO contractors can offer a contact center with multiple channels to help the online vendor to resolve customer care concerns promptly and positively. The multi-channel contact facility must support live chats, voice calls, email management, and SMS for customer convenience 24/7. Punctual response to shoppers will bring up satisfaction levels due to high-quality service. In the same token, analytics can generate insights on customer behavior and preferences helping the company to serve the public better.
Contractors with digital marketing expertise help increase traffic to the site resulting in the upsurge of sales and revenues. Digital marketers also provide Search Engine Optimization (SEO) services for higher rankings in search engines. On the other hand, Pay-per-Click or PPC advertising can produce brand visibility while generating more leads. Most SEO specialists offer social media optimization strategies as well.
In a highly competitive online environment, seamless digital marketing techniques have become imperative. Electronic commerce firms that outsource to qualified contractors can reach out effectively to shoppers and offer them the best options for their basic needs. For online retailers, addressing issues that block customer satisfaction must be part of their priorities.
Challenges to Deal With Immediately
Retailers on the web must realize the value of site navigation. Consumers cannot purchase products that they cannot see. Visitors, who find it hard to locate their preferred merchandise or service, tend to abandon websites. Portals with poor layouts cannot ensure the desired outcome for shoppers. Trouble-free navigation features will undoubtedly improve customer experience.
Internet merchants consider data security as another crucial factor. Security concerns have multiplied due to increasing utilization of sophisticated technologies. Security relates to the protection of customer data (credit card and bank account details) as well. Two years ago, a prominent retailer suffered from customer data breach which resulted in customers' financial being compromised.
Other major concerns include underperforming checkout platforms, rationalizing orders for fulfillment and more efficient logistics, and cross-selling or up-selling. The bottom line indicates that owners and managers of different eCommerce sites must produce more innovative ideas and strategies. They need to strengthen their enterprises in the midst of fierce competition coming from physical and online sellers.