The article is contributed by Mr. Pankaj Sharma, President – The Lexicon Group of Institutes and Chairman & MD – Pune Mirror & MultiFit.
Global is the new local in today’s digital marketplace. And, as international markets develop, we are entering a period of extraordinary growth prospects. However, every excellent opportunity comes with its own set of adversities and advantages.
E-commerce has now become a need for many organizations, so it’s critical to establish a digital marketing strategy that supports online selling. To expand, modern companies require eCommerce marketing solutions. However, the abundance of alternatives may quickly become overwhelming. The most difficult difficulty that eCommerce organizations confront these days is lowering cart abandonment rates. The average cart abandonment rate across sectors is a mind-boggling 70%.
That indicates that for every consumer that buys from you, two walk away without completing the transaction. As a result, innumerable possibilities to develop your organization, boost income, and establish a stronger online presence are lost. Due to the obvious lack of face-to-face interaction, providing excellent customer care on your e-commerce site might be difficult, but it is just as crucial as in any other customer-facing firm to make the close.
Here I will list down 3 effective methods that can help you reduce your cart abandonment rate:
Add Proactive Live Chat to Checkout Pages
Set up a friendly, proactive chat pop-up to capture the attention of visitors who have a particular question. Instead of looking for methods to contact someone, users may just write their queries into the box and have an immediate response.
Allow guests to check out
One of the most common reasons individuals abandon their carts is the need to fill out lengthy paperwork. So, if you want to reduce cart abandonment, you’ll have to avoid requiring registrations. You may still provide the option to register and even promote it with a modest additional reward. However, you must always offer an alternative. Allow customers to check out as guests.
No Hidden Charges
If you’re upfront about charges, you may even include them in your brand positioning. When clients buy with you, they can be confident that the prices they see are the amounts they will have to pay.
If you’ve ever done online shopping, you must have evaluated the product by seeing the available product images. But what if you were presented with a poor-quality, blurry, static product image on the online store? Would you still buy the same product? The answer is a big NO. Unlike a visit to the traditional brick-and-mortar store, you don’t get the option to pick a product and assess its quality during online shopping.
You instead try to judge the product and its quality by seeing the product image. It would be an understatement to say that many online conversions result from uploading top-notch product images. If you own a relatively new or old eCommerce store and are struggling to generate sales, making changes in the product image quality can bring a huge difference.
While eCommerce store owners understand the importance of uploading top-quality images to their online store, many don’t know the best practices of doing it. It inadvertently hurts the bottom line. To help you improve your store’s user experience and boost online sales, we’ve curated this epic product image guide for eCommerce store owners. So let’s quickly go through the below-shared practical tips or settings that can get you visible results.
Tips for Improving Product Images for Your eCommerce Store
Upload a Product Image in all Available Colors
Instead of telling visitors that you offer a product in three more colors, show them the different available options with the help of images. Visualization helps people make better decisions than mere statements.
For example, if you sell luggage in different color variants, click an excellent product picture in all the available color ranges. The viewer should be able to see the product in the desired color he clicked on. This one change can bring a massive difference to your online sales.
Maintain a Balance Between Website Performance & Image File Size
Have you ever visited any online store whose catalog and product images took an extended time to load? If yes, you’re not alone. Various eCommerce stores are yet to optimize their product’s image size and website performance.
If image loading time and page loading time are not aligned, visitors can immediately leave the store for other better-performing sites. You should ask your SEO manager and website developer to work together with the product photographer to fix this problem. Together they can ensure the product image size and resolution are pitch-perfect.
When uploading the desired image file type, always store and upload product images in JPG format. This format is supported by many online store platforms, including WooCommerce, Shopify, etc.
Allow the Shopper to Zoom in & Zoom Out Without any Hassle
Irrespective of the product you’re selling online, it is crucial to allow the prospective customers to easily zoom in and zoom out by clicking on any part of the picture. This feature lets customers get a closer and relatively clear look of the product. If you’re into the clothing business, you can leverage this feature to your advantage.
Customers can get to zoom in and display any intricate design or detail that sets your product apart from others in the market, ultimately leading to increased sales. You can either check whether the platform you’re using to run the eCommerce store is offering this functionality or contact a web developer to do the needful.
Maintain Brand Consistency Throughout the Product Images
Branding is a crucial component that can make any brand appear more reliable than others. As a store owner, you wouldn’t want your website images to look like random picture pieces picked up from the internet. When it comes to product images, store owners can subtly include their brand style to exert the much-needed influence.
To maintain branding and consistency across all uploaded pictures, pay special attention to the lighting, product placement, background, modeling, etc., while clicking the picture. Inconsistency in product images can be distracting and can prevent store visitors from making a purchase. To impart a professional and more reliable feel to all the product images, always ask the concerned professional to abide by the brand guidelines.
Upload Pictures from All Viewing Angles
It might sound like a piece of cliché advice, but you’d be surprised to know that not many eCommerce stores have incorporated this into their website. When shopping online, people don’t get the benefit of picking a product in their hand and analyzing it from different angles. But you can fill in this gap by offering advanced, and high-resolution product images clicked from various angles.
When the same product is viewed from different angles, it highlights details that a static image or a specific angle fails to cover. It is why when you visit eCommerce giants like Amazon, Flipkart, eBay, etc., you get the option to view a product from different angles. It lets you know how big or small the product really is. It also enables you to gauge the product better.
If the product you’re selling has some unique details, don’t forget to highlight it by clicking pictures from relevant angles.
Customers Survey on improvement of the Product Images in E-Commerce Grocery
While product descriptions are essential for online shoppers, quality product images are equally important. According to a survey, approximately 75% of respondents said that product images are very influential and help them make a purchase decision. The same poll also disclosed how around 22% of respondents returned the purchased product because it looked very different from what it looked online in the product image.
Online shoppers want to see product images because it gives them proof of texture, color, shape, design, and more. Well-taken pictures instill a spark among potential buyers, inclining them towards a particular product. It also gives shoppers a clear idea of what they will get for the offered price. If you can provide this one thing that customers yearn for, you can definitely boost your online sales.
Your sales revenue gets boosted by bettering the Product Image Quality.
The necessity of having high-resolution and quality product images on an online store cannot be emphasized enough. In today’s age, a lot depends on how products look and feel. With eCommerce players doubling down on product imagery and visual content, you cannot take the risk of being left behind. If you have uploaded multiple good-quality pictures of every product to woo your visitors but still aren’t getting impressive results, try adopting the tips shared in the guide.
After analyzing various eCommerce stores across different niches, it has been found that stores offering the best product imagery content perform better than the rest. This guide suggests some of the best and most practical tips that have the potential to skyrocket your online sales, so give them a try for visible results.
FAQs
Which image format is best for eCommerce websites?
JPEG and PNG image format is the best for eCommerce websites.
What size should WooCommerce product images be?
The recommended size of WooCommerce product images is 800×800 pixels.
What size should Shopify product images be?
Shopify recommended product image size is 2048 x 2048 pixels.
What is the best image size for online?
The optimal file size for images on an eCommerce website should be less than 200 KB.
The article is contributed by Nilesh Ghule, Co-founder and CEO, TruckBhejo.
Over the last two years, primarily because of the pandemic, and deeper internet and mobile phone penetration there is an unprecedented surge in online shopping. As a result, the e-commerce market has boomed and is estimated to reach USD 200 bn by 2026, according to Inc42’s e-commerce report. It has also led to the growing popularity of the Direct to Consumer (D2C) business model.
Alongside this boom, a Mordor Intelligence report underlines that driven by the growth of manufacturing, FMCG, retail, and e-commerce, the Indian Third-Party Logistics (3PL) market is expected to register a CAGR of over 11.5% during the forecast period of 2020-2025.
This growing synergy between D2C brands and logistics providers is driven by the need for greater efficiency and speed with customers setting delivery deadlines that are shrinking every day, from 24 hours to 10 minutes. ‘Express Deliveries’ is the buzzword today, and with this in mind, Indian businesses, like their western counterparts, are slowly making the transition from horizontal to vertical integration.
Bottom-line over top-line
Earlier, the business strategy favoured the takeover of rival companies and the development of in-house facilities to expand in size and assert market dominance. Today, with the bottom line taking precedence over the top-line, and efficiency outscoring effectiveness, D2C brands are seeking third-party services to combat competition.
D2C as a business model relies on three important aspects namely core product, online selling experience, and offline fulfilment experience. It is in the third, the last-mile delivery stage, that tech-based logistics platforms are coming into play with the guarantee of delivering products in the most time and cost-effective manner through increased digitization and automation.
Tech-ing the shortcut
Just like robotics and sensors have streamlined operations in the warehouse, drones and driverless EVs could well revolutionize e-commerce supply chains in the future. For now, AI-driven tools like the Internet of Things (IoT), advanced algorithms, blockchain, and data analytics can be incorporated into operations to optimize routes, circumvent delays, and reduce empty miles.
TruckBhejo has, in just five years since its inception, shipped over 2 million tons, completing one million deliveries by leveraging technology. It even managed to satisfactorily complete a monthly order of 50,000+ products for an e-commerce major to meet increased demand during the festive season.
Tracking deliveries
With customers raising the bar every day, the buck doesn’t stop at speed. It demands reliability and transparency too. The customer expects personalized communication via text and email to stay connected with the product from the time it leaves the warehouse till it reaches their doorstep.
Here again, tech-based 3PL players can provide great customer satisfaction through real-time updates that help them track the product right down the supply chain. Even if there’s a logjam, they are as much in the know as the supplier and transporter. This kind of visibility helps build brand loyalty which is imperative in a crowded market.
The road logistics market in India is expected to reach USD 330 billion by 2025, according to the ‘Inter-city Logistics Market Study’ by RedSeer. However, to ensure a seamless run, logistics tech aggregators need to come up with customized solutions to cater to clients who come in all shapes and sizes, demanding local, pan-India, and even global reach.
One way to do this is through smart packaging. Standardization in the size of the items and choice of packing material, with thermocol sheets and bubble wrap replacing bulky plywood or fragile glass cases, can bring down the burden of warehouse and transportation costs and scale up the volume of orders.
Plan for the future
The Indian logistics sector has one of the highest transportation costs at 14% Gross Domestic Product (GDP). The good news is that the government has come to its aid with the PM Gati Shakti—National Master Plan launched by PM Narendra Modi. Its aim is to break departmental silos and bring in more holistic and integrated planning and execution of projects with a view to addressing issues of multi-modal and last-mile connectivity. With better infrastructure, digitization, and pan-India mobile and internet connectivity, 3PL players can speed up their operations, helping D2C brands to thrive and grow.
Conclusion
While there is a steady growth in D2C business model adoption and e-commerce business, it is imperative for the companies to team up with the logistics players to ensure success and sustainable growth. A good logistics partner with tech-enabled solutions like TruckBhejo can provide unparalleled customer experience through speedy deliveries, timely status updates, and accommodating last-minute requests. Tech-led startups are adding immense value to the D2C brands by putting the technology into the use case and making various smart tools available to the customers. This “best match on the expressway” is ultimately ensuring delivery of not just the goods, but also of the customer experience and satisfaction.
The article is contributed by Shivaani Jain – Co-Founder, TAGGD
In this age of ‘new kind of fashionable’, it’s no longer uncool to sport homegrown labels. Back in 1991, the Indian economy opened doors and flooded the market with foreign goods. These were mostly lifestyle brands that Indians had long heard about, but never got to sample. Liberalisation also created the conditions for—maybe even inspired—indigenous creators to later prosper at home and also abroad.
More than 30 years later, from those watershed weeks and months, Indian fashion designers – to name just one creative niche – are now making waves, among local as well as international clients. Once restricted to those with money to spend, fashion has become democratised as it has penetrated non-metropolitan India. And because it is online, it is widely available, accessible and affordable. No wonder it is being endorsed and embraced by millions who reside off the beaten metro track, who crave the same apparel and attire – casual, formal and informal – as their megalopolis-living counterparts, and also the same comforts and indulgences.
Indeed, the bigger transformation is happening outside of Delhi, Mumbai, and Bangalore. Today, it is small-town India – small in size but certainly not in aspiration – that is shaping the India of the future, in terms of what it buys and even the lifestyle trends to come. So, what a Moradabad, a Coimbatore, a Nasik and a Cuttack thinks today, India will likely think the same tomorrow.
The changing face of lifestyle
This is not entirely unexpected, but it has been hastened by COVID-19, a process quickened by families being confined indoors and thus relying on e-commerce to take care of their desires as much as their needs. The pandemic brought home to us that life indeed is short, and we might as well make the most of it while we’re at it. So, if wearing that funky outfit, or that sexy one-piece (designed by one of us) allows us to feel good, why not indulge?
Unsurprisingly, it’s the digital revolution that has made e-commerce accessible to Tier 2 and Tier 3 markets, thanks to the government’s Digital India initiative. This has enabled fashion and other brands alike to target the country’s non-metro towns and cities as future growth areas while giving the clientele here options besides the tried-and-tested names, and the opportunity to stay in touch with the latest trends in the fashion domain.
Because, when it comes to fashion, brands and collections are the same almost everywhere, and online shoppers are not guaranteed any exclusivity when they go looking to add to their wardrobes. Hence, now, they are more than willing to try out – and accept – labels that don’t come with the big-city tag, and to experiment with brands that are new to the market, and of which little is known.
In fact, the very thought of helping homegrown brands from locations off the fashion radar, in towns and cities away from the major urban centers, has empowered patrons in these places to own and wear such labels with pride. And while the brands may lack the staying power and cachet of the top-of-the-line labels, they do understand the power and magic of digital. So, assisted by on-off lockdowns and a population habituated to virtual shopping, they are evolving by adapting to the digital savviness of the consumer as well as the changing face of the industry.
The success of homegrown brands has been further driven by the ubiquity and high impact of influencers. Alongside, the rise of influencer marketing has given small-city youth a platform to leverage their presence on social media and earn a decent living. Fashion offers rewards as much as it lifts spirits and boosts confidence.
The well-heeled and well-travelled may still opt for high-street chains such as Zara, Marks & Spencer or H&M (among many others) but a growing number of Indians are much less hung up about the ‘name’ than their predecessors once were. And the reason behind this change is the fact that there are many more indigenous designers and labels out there, a majority of them boasting creations of great standards, and more than capable of giving British, European and American brands a good run for their money.
Moreover, these made-in-India brands are nowhere near as overpriced as some of their international counterparts are. In fact, they are very reasonable on the average middle-class pocket, offering fashion and lifestyle that is affordable for you and me.
The metros may be where all the action is, but hidden from the eyes of many metro denizens is what’s happening in India’s Tier 2 and Tier 3 cities. Already, girls and boys from these urban spaces form a sizeable chunk of service economy across the country. This is a demographic that is growing, and it is one that will constitute a greater part of the workforce of tomorrow’s India. And, as their profiles grow, so do their ambitions. These confident Indians seek nothing but the best—in clothes and accessories, in gadgets and cars, in holidays and experiences.
There are e-commerce marketplaces and e-retailers successfully catering to and answering this swelling demand. Yet, while women’s wear and menswear might make up the bulk of the sales, Mrs and Mr are just as interested in jewellery, cosmetics and home décor—and when it comes to clothes, their junior or teen daughters and sons don’t want to be left behind.
It really is a whole new ecosystem – of hip and homegrown fashion and lifestyle brands, and their customers who are looking to keep themselves up-to-date with the latest trends. And in this ecosystem, the fashion influencers are key facilitators, playing an important role by sharing styling ideas and tips—to bring out the best in you, to make you look good.
Thankfully, gone are the days when fashion in India was a preserve of the elite and the wealthy, and that is surely for the better. Because its increasing inclusivity has exposed the majority of Indians to lifestyle choices they never had. It’s of little surprise, then, that homegrown brands are making a beeline for Tier 2 and Tier 3 cities, for it is here that cash registers are ringing at their loudest. When it comes to fashion, there’s no more happening place in the country than the small-town India of big dreams.
The logistics industry is the backbone of every economy. In the last few years, the eCommerce industry is flourishing in a big way. The growth of eCommerce websites in India enabled startups dealing in logistics to scale up their business and tap into other areas through technology. This allowed them to solidify the existing supply chain solutions and fill the gaps in the otherwise fragmented and unorganized Indian logistics industry.
The current value of the Indian Logistic sector is $160 Billion. At the current growth rate, the Indian logistics industry has reached $250 billion in 2021. As per a 2021 report, India’s LPI (Logistics Performance Index) rank is 35. In this article, we will talk about the top Logistics startups in India. So, let’s take a look at them.
Founders: Bhavesh Manglani, Kapil Bharati, Mohit Tandon, Sahil Barua, and Suraj Saharan
Location: Gurgaon
Year Founded: 2011
Delhivery Logo
Founded in 2011, Delhivery is one of India’s leading supply chain services. It is a Gurgaon-based shipping startup. Delhivery is one of the last mile delivery startup companies in India. It envisions becoming the operating system for India. Delhivery’s business model only deals with e-commerce orders; this makes it easy for Delhivery to pick up, connect, and deliver shipments on time. According to its official website, Delhivery has successfully fulfilled over 1 billion orders for more than 55 million households across India. Moreover, the venture brings unparalleled cost efficiency and has a pan-India reach to businesses of over 100,000 customers and over 15 million consumers every month. The latest round of funding was on May 11, 2022.
BlackBuck
Founders: Chanakya Hridaya, Rajesh Yabaji, and Ramasubramaniam
Location: Bangalore
Year Founded: 2015
BlackBuck Logo
Formed in 2015, BlackBuck has become India’s largest trucking network by combining data science and logistic services to create a smart supply chain. BlackBuck is one of the few online trucking logistics startups in India. It is a pioneer in bringing the offline operations of trucking online. BlackBuck is committed to making life easier for truckers by allowing them to book a load and move at capacity and enabling shippers access to the right truck, all at the click of a button. The latest round of funding was on October 21, 2021.
Rivigo
Founders: Deepak Garg and Gazal Kalra
Location: Gurgaon
Year Founded: 2014
Rivigo Logo
Rivigo is a technology venture building the material movement pipeline of India. Rivigo’s vision is to make logistics ‘human’. Deepak Garg and Gazal Kalra are the founders of Rivigo. While making logistics human, faster, safer, and cost-effective through excellence in technology, data, culture and operations, it services multiple industries such as e-commerce, automotive, FMCG, and others.
Rivigo has launched a Relay-as-a-Service (RaaS) to offer a relay trucking model to fleet owners and truck drivers in India. Relay Trucking is an operating model wherein drivers change over every few hundred kilometres of driving through a network of relay pit-stops and then get rostered back to their home base. Rivigo launched the National Freight Index in 2019. National Freight Index enables unrestricted, real-time sharing of freight pricing. It has the potential to unlock immense value for the logistics industry.
Edgistify
Founders: Kamal Kishore Kumawat, Antim Suman, and Umang Shukla Location: Mumbai
Year Founded: 2016
Edgistify Logo
Edgistify is a one of its kind tech platform for logistic firms that aids them in designing the entire supply chain for different industries. It is one of the top logistics startups in Mumbai. As a manufacturer, one needs a reliable warehouse which doesn’t cause problems at present and in the future. Edgistify helps you find the best warehouse in India. It verifies warehouses by inspecting them and making the details available on its website. This way you have the required information at your fingertips if purchasing a warehouse interest you. According to Edgistify’s official website, it has developed a databank of more than 780 Million Sq. ft. of warehousing space.
First Flight
Founder: O. P. Saboo
Location: Goregaon, Mumbai
Year Founded: 1988
First Flight Logo
First Flight provides services such as priority couriers, e-commerce logistics, air cargo, and train cargo. First Flight is one of the top courier startups in India. It has partnered with Jabong, Myntra, Paytm, Home Shope18, amazon, shop clues, Flipkart, and other major e-commerce companies. First Flight is India’s domestic courier service. The company is in the process of setting up a large-scale integrated logistics division to offer an entire amount of warehousing, inventory management, supply chain services, and distribution channels, thereby providing total end-to-end solutions to its customers.
ShiftKarado
Founder: Atul Mithal
Location: Gurgaon
Year Founded: 2015
ShiftKarado Logo
Launced in 2015 with the aim to resolve the then-prevailing issues in the relocation industry, ShiftKarado is among the leading technology-driven packing and moving services providers in India. It operates in the competitive, unorganized relocation market to simplify the moving process for its customers. They provide you with the opportunity to track your goods in a real-time movement. ShiftKarado’s last raise was 5 Crores funding in 2019 by Star Worldwide Group.
4TiGO
Founders: Vivek Malhotra and Anjani Mandal
Location: Bangalore
Year Founded: 2015
4Tigo Logo
Founded in 2015, 4TiGO provides a common technology platform along with complementary business services. It is one of the most promising supply chain startups in Bangalore. 4TiGO’s mission is to empower the ever-growing goods transportation industry ecosystem through the synergy of technology and networking. It has raised $10 million in a single round of funding that was held on May 2, 2017.
Shadowfax
Founders: Abhishek Bansal and Vaibhav Khandelwal
Location: Bangalore
Year Founded: 2015
Shadowfax Logo
Founded in 2015, Shadowfax is one of India’s largest crowd-sourced delivery platforms. Its unique logistics app enables the delivery of food, pharmacy and e-commerce for businesses and helps them generate customer satisfaction. According to its website, Shadowfax provides services in 150+ cities with over 1,50,000 transactions being processed by it on an average every day. Shadowfax has raised $60 million in funding. The last round of funding was on December 5, 2019.
Founded in 2015, Locus is a machine learning startup focused on simplifying the field of logistics. The logistics startup uses artificial intelligence to solve problems such as scheduling, tracking, and the management of on-field fleet in on-demand and hyper-local industry segments. Locus caters to startups, enterprises and brands across various sectors like grocery, furniture, pharma, and consumer electronics. The startup boasts of serving some of the market leaders such as Quikr, Urban Ladder, Licious, and Lenskart. The latest round of funding was on June 2, 2021.
LetsTransport
Founders: Ankit Parasher, Pushkar Singh, and Sudarshan Ravi
Location: Bangalore
Year Founded: 2015
LetsTransport Logo
LetsTransport is an intra-city logistics service provider in Bangalore. It is a transport startup in India. Vendors tend to have many clients within their home base and are required to deliver goods to shops and offices within the city. LetsTransport provides logistic service within your city through verified drivers, etsTransportsGPS tracking, and 24/7 service.The latest round of funding for LetsTransport was on June 15, 2020.
Qikpod
Founder: Ravi Gururaj
Location: Bangalore
Year Founded: 2015
Qikpod Logo
Qikpod is a platform that allows you to get the delivery of your parcel using safe and secure lockers. You need to provide the details about your delivery person to Qikpod, and he will deliver the parcel to you in a Qikpod locker. This method of delivery guarantees safety as you can unlock the locker only with an OTP sent on the phone. Presently, Qikpod caters only to the people of Bengaluru. Business tycoon Ratan Tata is one of Qikpod’s investors.
FreightBro
Founders: Anand Babu, Mohammed Zakkiria. A, and Raghavendran Viswanathan
Location: Mumbai
Year Founded: 2016
FreightBro Logo
Founded in 2016, FreightBro provides intuitive solutions which work at the touch of a button. It is one of the top logistics companies in Mumbai. In today’s world that’s dominated by technology, doing business offline is an inefficient way of functioning. FreightBro provides you with high-tech solutions to speed up your day-to-day business activities so that you only focus on the core business. It goes beyond the role of a service provider by acting as an advisor as well. A true business partner indeed.
Blue Dart
Founders: Tushar Jani, Khushroo Dubash, Clyde Cooper, and Clyde C. Cooper
Location: Mumbai
Year Founded: 1983
Blue Dart Logo
Blue Dart Express is one of the largest logistics companies in India, and South Asia’s premier expresses air and integrated transportation/distribution company. Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and territories, and offers an entire spectrum of distribution services. These include air express, freight forwarding, supply chain solutions, customs clearance and others.
Conclusion
With the growing e-commerce business, the logistics business is also showing its growth. At this point in time, the logistic business in India is enjoying full popularity and flourishing from every side. If anyone is looking to start with their own logistic business, they are in for a good show. With the current situation, it seems like the popularity of the logistic business will only grow in the future and it’s just a start.
FAQs
Is the logistics business profitable in India?
Logistics businesses are seeming to increase in popularity with the increase of the e-commerce business and have now become a lucrative industry in India.
How much the logistics business in India is worth?
The logistics sector in India is currently worth $250 billion in 2021.
Which is the No.1 Logistics company in India?
Blue Dart is said to be the No.1 logistics company in India.
If you are still looking for a job, here’s some good news for you! The United States is home to over a million different companies – and while many of them are small startups, others are well-known brands – Amazon, Apple, Disney, and Starbucks, for example. Many of these businesses have been around for a long time, some for more than a century. If you’re looking for a job and would like to work in a certain field ranging from tech to healthcare to hospitality and so on, there are many industries you can choose from. Here’s a look at some sectors with the greatest potential for growth through 2022.
There are many reasons to consider a career in the healthcare industry, but chief among them is demand. According to the Bureau of Labor Statistics, approximately 18 million new jobs will be created between now and 2022. Some of these positions will require formal education, such as registered nurses and physicians, but others do not. In addition, Healthcare support occupations — including home health aides — are expected to grow by 28% during this period.
Many people think of doctors and nurses as the main providers of health care. Still, many other types of professionals can enjoy good salaries and job security. Those interested in medicine but don’t want to spend years in medical school consider becoming a physician’s assistant or nurse practitioner. Also, think about becoming a pediatric nurse practitioner or a pediatrician’s assistant if you like working with kids.
If you don’t want to practice medicine, consider teaching. There is a growing demand for assistant teachers who help to train nursing students.
E-commerce
e-commerce Estimated Revenue In The United States
The consumerization of technology, new online payment methods, and the proliferation of mobile devices has accelerated the pace of e-commerce. The trend is clear — more and more people are shopping online every year.
E-commerce is in the midst of a major transition. Just a few years ago, most e-commerce was conducted through desktop browsers. In 2022, according to Forrester Research, e-commerce will account for 11% of all retail sales, and 80% of that will be conducted via mobile devices.
This means that brick-and-mortar stores will have to adapt to an increasingly mobile world, and that means investing in mobile apps and other technologies designed to support commerce on the go.
eMarketer forecasts that U.S. e-commerce sales will surpass $600 billion by the end of 2022 — a 20% increase from the 2018 year — and will account for more than 18% of all retail sales in the country.
Renewable energy Production Consumption in The United States
Among the fastest-growing sectors in the world – renewable energy is an industry like any other. It can make or break a country’s economy.
Renewable energy sources include solar, wind, hydroelectricity, biomass, and geothermal. These industries have been growing greatly over the past decade and will continue to grow in the coming years.
The industry is booming, which means that the best people are already working there. However, those who want to make a difference will find it highly rewarding.
The renewable energy industry is expected to grow at an annual rate of 22% in 2022. That includes solar power, wind power, biofuels, and other sources of green energy. So, even if you’re just starting, you can get into the renewable energy industry.
Computer Systems Design and Related Services
Revenue of computer systems related services NewYork
Computer systems design and related services companies help other businesses with computer networking, maintenance, programming, and other associated services. The computer industry has already seen substantial growth in recent years. Still, the future looks even brighter as more businesses rely on computers for their daily work.
Employment opportunities in this field are expected to be particularly strong for those with a bachelor’s degree or higher because many companies prefer to hire individuals who have completed an accredited program. The industry has grown speedily in the last few years at an impressive rate of 5.3%. This rate is expected to grow even faster in 2022 and beyond.
According to the BLS, computer systems design is one of the fastest-growing jobs in America. The growth will be driven by businesses that want to make their operations more efficient and lower costs by outsourcing computer-related services.
Employment in this industry has grown an average of 6.4% annually since 2010. Its projected growth rate for 2022 is more than four times that. The Bureau of Labor Statistics report says the computer systems design industry is set to grow by 22% in 2022, increasing the number of jobs to 1.2 million. In addition, the industry pays an average salary of $95,270.
Education
Educational Support Industry in The United States
The education industry is a great industry due to its stability and room for growth. Many jobs in the education industry are necessary and cannot be outsourced, which means that plenty of opportunities exists in this field. Consider taking a course or degree related to teaching, human resources, or school administration to get into this industry.
Experts predict that education will stay hot next year thanks to shifting demographics and technology.
With baby boomers retiring and the economy improving, an estimated 3.2 million jobs will be added to the American workforce by 2022. That’s a lot of new workers, but it’s not all good news: According to a report from Georgetown University, 65% of jobs will require post-secondary education.
According to BLS projections, education services will also grow substantially over the next 10 years. Thus, if you have an idea for a teaching tool, or other education-related product or service, now may be your chance to pursue it.
The tourism industry is one of the most exciting industries that one to get into. As people become more wealthy, they become more willing to spend money on leisure activities and experiences rather than products. People tend to spend money on experiences rather than products.
To provide these experiences, the tourism industry needs a lot of employees. For example, it needs tour guides and other staff members to run its tours. It also needs marketers, logistics staff, and customer support personnel to ensure that its customers have a good time.
Tourism and leisure are expected to experience the most growth of any industry in the U.S. over the next decade. Analysts expect it to add more than 1.2 million jobs between 2016 and 2026, with an average annual increase of 2%. It’s already one of the nation’s largest industries, employing roughly 11 million people in 2017, according to the Bureau of Labor Statistics (BLS).
In addition, as the importance placed on experiences continues to grow, opportunities within the tourism industry are likely to increase as well. This means that you are likely to have good job security in this industry.
Artificial Intelligence
The future is here. If you want to be part of the next generation of tech, AI is the industry that is shaping the near future.
If you’ve ever asked Siri or Alexa a question, used Google Maps to get somewhere, or bought something online based on a product recommendation, you’ve tapped into the power of artificial intelligence. This technology uses software and algorithms to solve problems that once required human intelligence. And it’s only going to get more sophisticated in the future. By the end of 2022, AI will help companies increase their productivity by 40%.
A few big players lead the way for AI – IBM and Microsoft have large investments in AI research and development. But smaller companies are also making waves in this field: In 2017, Apple became one of the first tech giants to focus on ethics in AI Companies like Facebook are developing their own AI programs for chatbots and product recommendations, while DeepMind is researching how AI can predict diseases before they start.
Artificial intelligence (AI) is a broad research field applied to many industries. AI is often defined as machine intelligence that mimics human thinking and decision-making to solve complex problems. According to an April 2017 report from McKinsey Global Institute, artificial intelligence could contribute $13 trillion to the global economy by 2030.
Conclusion
These are the best industries to get into. Your future career is waiting for you. These were some of the few great industries that will continue to grow strong in the years to come. Are you still on the fence? Consider each of these fields further and reach a decision that best fits your career aspirations. Good luck!
FAQs
What are the top industries for employment opportunities in the US?
Top industries that have huge job opportunities in The United States are:
Healthcare
E-commerce
Renewable Energy
Computer Systems Design and Related Services
Education
Education
Tourism
Artificial Intelligence
What jobs are most in-demand in the US?
The most demanding jobs in the US are:
Registered Nurse
Software Engineer
Information Security Analyst
Occupational Therapist
Web Developer
Data Scientist
Solar PV installers
Wind Turbine Service Technician
What is the biggest industry in the US?
The top three major industries in The United States are:
We are living in a world where technology has made our life easier. We can’t even think about living our life without using a single form of tech; we are highly dependent on them. Tech companies are now ruling the world because of that, even the demand for tech startups is rising every day.
One of the most in-demand industries now is Fintech. Some of the popular Fintechs are literally ruling the world with their services. The rise of the internet and smartphones and the trend of making India digitized has contributed to the rise of Fintech in the world.
One of the popular Fintech companies is Stripe. It is an Irish-American Silicon-valley Fintech startup that provides SaaS and financial services. The company’s headquarters is situated in two places that are in San Francisco, the United States and Dublin, Ireland. The company was founded in the year 2009 by Patrick Collison and John Collison.
The company mainly offers payment processing software and Application Programming Interfaces for E-commerce websites. Stripe has acquired many companies to expand their services in various fields. In this article, we will talk about the companies that are acquired by Stripe. So, without any further ado, let’s get started.
“Much of what is called investment is actually nothing more than mergers and acquisitions, and of course mergers and acquisitions are generally accompanied by downsizing.”
-Susan George
RunKit was founded in the year 2014 by Francisco Tolmasky and Ross Boucher, it was formerly known as Tonic. It is a tool for prototyping JavaScript. RunKit enables you to have a proper JavaScript environment in just a single click where one can use their npm model and see the results of it.
The best part is that there is no need for installation. It is a node playground in the browser. The headquarters of the company is situated in San Francisco, United States of America. Stripe acquired Runkit in the year 2016 at an undisclosed amount.
Indie Hackers
Indie Hackers Logo
Indie Hackers is a community and website where well-known entrepreneurs and founders of profitable businesses share their stories on the platform. The new entrepreneurs and startup owners read those and learn from those stories and experiences. Here the entrepreneurs come together and share all kinds of experiences and receive feedback and support when they need it.
The company focuses on making companies earn profit while being independent. The community was founded in the year 2016 by Channing Allen and Courtland Allen. The company was acquired by Stripe in the year 2017 for an undisclosed amount.
Index
Founded in the year 2012 by Jonathan Wall and Marc Freed-Finnegan, Index is a retail software company that provides security, personalised experiences and others. It mainly helps retailers to evolve their in-store payments and create their customer contact database.
Index is known for PIN pads that help read a chip card in just a second. The headquarters of the company is situated in San Francisco, United States of America. Stripe acquired Index in the year 2018 for an undisclosed amount.
Touchtech
Touchtech Logo
Touchtech was founded in the year 2014 by Niall Hogan and Shekinah Adewum and its headquarters was situated in Dublin, Ireland. Touchtech is a startup that basically works together with banks to build and manage verification processes for customers who required two different forms of authentication so that they can process transactions through their cards. Touchtech was acquired by Stripe in 2019.
Kickoff
Stripe made its first official acquisition by acquiring Kickoff, which is a chat and task management application. Through this app, companies can share the tasks with their employee, manage the team and can also chat with them, the app works for Mac and iOS platforms. Kickoff was founded in the year 2011 by John Gardner and Benjamin De Cock. The headquarters of the company is situated in Aubange, Luxembourg, Belgium.
The app was specially designed for enabling proper team conversation; it also has some special features like history access and offline support. Stripe acquired Kickoff in the year 2013 exactly after two years, the company was founded.
Totems
Totems are an Internet software and service company founded in the year 2011 by Gabriel Hubert and Stanislas Polu. The headquarters is situated in Ketchikan, Alaska, United States. The company mainly offers marketing tools for brands on social media platforms, including Instagram. This helps brands to realize where they stand and what their presence means on Instagram.
Apart from that, it helps brands realize and understand the need of their audience; brands can also track their marketing campaign. TOTEMS was acquired by Stripe in 2015 at an undisclosed amount
Paystack
Paystack was founded in the year 2015 by Ezra Olubi and Shola Akinlade and provides financial services to its customers. It is a website that let businesses accepts various forms of payments through credit card; debit card, and mobile transfer from anyone and any part of the world. The headquarters is situated in Ikeja, Nigeria.
Stripe acquired the startup in the year 2020 when the startup had over 60000 customers at an amount of over $200 million. This acquisition is said to be the biggest startup acquisition in Nigeria.
TaxJar
TaxJar is a tech solution founded in the year 2013 by Mark Faggiano and Matt Anderson. The company basically helps E-commerce manage its sales tax. The company is to help the E-commerce sellers and make their work easier by handling the challenges of Sales Tax. The company’s headquarters is situated in Boston, United States. In 2021, TaxJar was acquired by Stripe in the year 2021; the acquisition was to remove any kind of barriers to multinational companies for their growth.
Bouncer
Bouncer Logo
Bouncer is a company focused on making card authentication technology that will reduce the chances of fraud during any kind of transaction of online businesses. It is a risk detection tech platform. Bouncer was founded in the year 2019 by Sam King, Steven Liu and Will Megson and the company’s headquarters is situated in Oakland, United States. Stripe acquired Bouncer in the year 2021.
Recko
Recko Logo
Recko is an Indian fintech company founded in 2017 by Prashant Borde and Saurya Prakash Sinha. Recko is a financial operation platform for online companies and their digital transaction. It basically helps businesses to track online businesses’ incoming and outgoing payments. Platforms like Meesho, Deliveroo and PharmEasy are The Company’s headquarters is situated in Bangalore, India. Recko was acquired by Stripe in the year 2021
Payable
Payable Logo
Payable was founded in the year 2013 by Kyle Kilat, Peter Terrill, and Tad Milbourn. It is a platform that helps contractors to get their payments hassle-free. Some of its features like providing invoices, tracking the contractor’s work, and calculating their earnings as well as taxes make it an interesting platform for workers as well as the companies. Stripe acquired Payable in the year 2017 to take help from tax-related obligations.
OpenChannel
OpenChannel Logo
OpenChannel is a company that provides help to businesses by allowing them to create, launch and manage apps for their work. These are created for the products of the business. Open Channel was founded in the year 2013 by Brian Amaro and Michael Kovacs. The headquarters of the company is situated in Auckland, New Zealand. OpenChannel was acquired by stripe in 2021.
Stripe by acquiring so many tech companies is on the verge of making its service expand to other fields as well. The main point of Stripe is to help businesses by taking all these companies’ services. The company is now raising more funds to acquire companies and add them to its list of acquisitions. Stripe’s current valuation is over $95 billion.
FAQs
Who is the founder of Stripe?
Stripe was founded in the year 2009 by the Collison brothers, Patrick Collison and John Collison.
What are the companies that are acquired by Stripe?
The companies that are acquired by Stripe are:
RunKit
Indie Hackers
Index
Totems
Touchtech
Kickoff
Paystack
TaxJar
Bouncer
Recko
Payable
OpenChannel
What is the revenue of Stripe?
The revenue of Stripe is 740 Crore USD as of 2020.
The world has evolved and is still in the process of evolving. We are surrounded by technology and have our hands on things that are making our life easier. However, the more we have evolved, the more we started ignoring nature. This has resulted in drastic climatic change, so much is that we are losing 149 billion metric tons of ice in Antarctica. This has led to the rise of the global sea level in a big way, and researches shows that by the year 2050 big populated cities will get under the water.
Now, the richest and wealthiest people have also contributed to climatic change. The richer they are, the more their carbon footprint increase. Reports claimed that half of the global emission is caused by the 10% wealthiest people in the world. Nw, with great power, comes great responsibility. This rare planet now needs to be saved. We do not have a planet B. Fortunately, some of these wealthy people are aware of what their actions are doing to the world. So all of them are doing their part to save the planet. In this article, we will talk about some billionaires and what they are doing to tackle climate change. So without any further ado, let’s get started.
The second richest person in the world and the founder of E-commerce giant Amazon, Jeff Bezos is clearly aware of what carbon emission is doing to the world. To counter the situation, Jeff Bezos along with Amazon has started an initiative known as The Amazon Climate Pledge, it is signed by other 104 corporations and its main target is to achieve net-zero carbon emission by the year 2040. Apart from that Bezos also has set up a fund called Bezos Earth Fund. Amazon also has a climate fund of $2 billion and this will be invested in new unique technologies that are needed to make a zero-carbon economy. In his Bezos Earth Fund, it is $10 billion and already 16 groups that working on climate change are given $790 million.
Elon Musk
There is hardly anyone who isn’t aware of this person, Elon Musk is currently the richest person in the world with his company like Tesla and SpaceX. He is now the owner of the popular social media site, Twitter as well. From the very first, this person is aware of what Carbon emission is doing to our world. His company Tesla is an electric carmaking company which is an alternative to fossil fuels. His company is known for energy-saving and also for avoiding waste. In 2021, Musk donated $100 million to an NGO called XPrize. XPrize has hosted a competition of four years through which they pledge to find a solution to achieve the removal of 10 gigaton carbon removal target per year by 2050.
Bill Gates
Bill Gates is not only known for his wealth but also for his philanthropy, the founder of the popular multinational tech company Microsoft. Gates is very much aware of the climate change issue the planet faces and has always spoken about its drastic consequences. Being that upfront about climate change, his company Microsoft took many steps to save the planet. In 2019, Microsoft pledged and set a target to source 100% renewable electricity by the year 2030. It has also decided to cut greenhouse gas emissions by 2030 as well. Bill Gates has already authored a best-seller known as ‘How To Avoid A Climate Disaster’. Apart from Microsoft has taken a big challenge of being carbon negative by the year 2030. Microsoft is also part of Amazon’s Climate Pledge and has signed it.
Bernard Arnault
The French business Tycoon Bernard Arnault is the chairman and CEO of the biggest luxury goods company LVMH. Some of the biggest luxury brands like Louie Vuitton, Dior and Sephora are under this. Under the directive of Arnault, LVMH has its own program called LVMH Initiatives For the Environment (LIFE) program, it has decided a target to achieve the use of 100% renewable energy and eradication of fossil-based plastic use in packaging by 2026. Apart from that, LVMH claimed to achieve their goal of 25% reduction of carbon emissions by 2020, in fact, they reportedly surpassed 37% of carbon emissions 12% more than their target.
Mark Zuckerberg
The man behind the biggest social media platform, Facebook and the company Meta is Mark Zuckerberg. Meta in 2021 said that it has reached its target of net-zero of carbon emissions and energy that it has purchased. In 2019, it was one of the largest buyers of renewable energy and is also on the path to investing funds in the projects of carbon removal and nature-based compounds. Zuckerberg along with Meta is focusing on sustainability and is working to tackle the impact of climate change in the world.
Larry Ellison
Larry Ellison is the co-founder and the former CEO of Oracle Corporations. The Oracle Corporation has always believed in sustainable business and has several sustainable goals. Larry Ellison started the SailGP catamarans race in the year 2018, it is to be the first climate positive sport. Its main slogan is ‘Powered by nature’ and has set a target to be 100% charged by renewable energy sources by the year 2025. Apart from that, Ellison has also bought a Hawaiian island and has pledged to turn the island into a place of clean energy. He brought the island in 2012 for $300 million.
Conclusion
With the threat of global warming rising every day, the planet is in danger. There are companies that are playing a big role in the increase of global warming as they are producing carbon emissions. The Billionaires are now taking responsibility and are coming forward by initiating new projects and taking part in sustainable development programmes to save the planet.
FAQs
Who is the richest person in the world?
Elon Musk is the richest person in the world.
Who is Jeff Bezos?
Jeff Bezos is an American entrepreneur and the founder of the biggest E-commerce platform Amazon.
How much CO2 does the world produce?
Approximately, the world produces over 43 billion tons of carbon emissions every year.
To begin with, eBay did not lose the e-commerce war to anyone but itself. The American multinational company, which was once a prominent ecommerce market player, gradually sidetracked, especially from the Indian market.
No wonder the ecommerce market now is dominated by able players like Flipkart and Amazon, and eBay still has a place but it has long lost its prominence. This often poses numerous questions in our minds regarding eBay and how it lost the ecommerce war.
So, we have decided to come up with this article, which will let you know all about eBay and how it dimmed from dominance.
eBay was founded by Pierre Omidyar on 3 September 1995 in San Jose, California, United States eBay’s tenure on the dominating throne was very short-lived. Pierre was merely 28 years when he founded eBay. He graduated with a degree in Computer Science and was soon after hired by the all-time mega player Apple. While working for several companies, Pierre felt the need to have an innovation of his own. In 1991, while working at Inc development, Pierre Omidyar had ideas that could revolutionize the e-commerce marketplace. During his tenure at Inc development, he lacked the string that could lead him to what he desired, so he quit his job. After that, he worked at many places with the zeal of developing something of his own. This way gradually by experimenting in the modern marketplaces many times, eBay was born.
The original business model was to create a website to carry out auctions that could be customer to customer or seller to seller. This turned out to be quite a hit. The traffic to the website was humongous. The major and only source of monetization during the beginning for eBay was the commissions it charged on every auction. In 1996 the business started to get serious with the plunge in the number of users. Pierre hired programmers and was set to expand the platform. People seemed to like the concept. The number of auctions hosters on the website increased day by day. Soon eBay was a structured corporation under the guidance of the CEO Margaret Whitman, whose background and skill brought eBay to touch the zenith of success. Later, soon the universal law of Darwin, the world is meant for the survival only of the fittest stated to give major reality checks to eBay. The downfall devil knocked on eBay’s door.
Factors That Made eBay lose E-commerce Market
Most people think that eBay failed because it did not capitalize on the e-commerce revolutionary but in reality, it failed because it did not expand on discovery-driven eCommerce, which itself started when the trend expanded beyond the platform and onto social media.
Cost Factor
eBay failed to be cost-friendly for everyone, it was more of a bargain store than a pocket-friendly store as it had the option of bidding which cannot be found on any other e-commerce platform, and eBay has a fee for almost everything including shipping charges.
When every platform started cutting down the shipping cost to attract more customers eBay did not adapt to this and still kept the charges making them lose a lot of their customer base to other e-commerce giants.
Lack of Customer Support
Every business has a major impact through its customer support base, We all know the hassle we have to go through when we have to return a product or enquire about anything and how we prefer buying from places that have exceptional customer support.
Not focusing on their customer support was also one of the prime factors why eBay was left behind. Especially during the pandemic, every e-commerce platform improved its customer support drastically. on the other hand, eBay was notorious for poor support, no phone number, automated responses, and a buy at your risk policy, it took years for eBay to give very minimum buyer protection, and also a seller can be banned at the drop of a hat, with no appeals process and it stays for life. This made eBay neither buyer-friendly nor seller-friendly.
User Interface
The website of eBay is very laggy for users, when most of the world was moving online, The expectations of people were increasing. eBay was still lacking behind with its crappy website which was filled with a lot of bugs and the interface was neither user-friendly nor pleasant to the eye.
Lack of Innovation
eBay’s inability to innovate has pushed it onto the sidelines of e-commerce business, it had to look into the future and innovate accordingly to survive in the marketplace which it failed to do, it is also heavily biased towards buyers and gives almost zero protection to sellers which forces most of the good businesses to move to other marketplaces instead of eBay.
Every business thrives on the type of people they have to work with. Accordingly, every business wants to retain its talented employees that would help them improve their business. eBay almost every time failed to retain its good talent and lost it to other companies. Most of the alumni of eBay even turned into very successful entrepreneurs. Had eBay retained even a little percentage of such talent in the company, the story of eBay might have been different now.
Like every e-commerce business out there, eBay is a business that needs both buyers and sellers equally. If people aren’t using eBay to sell their things, then eBay is out of luck, it isn’t like eBay can go into people’s houses, and sell the stuff themselves.
Most of the people that use eBay now are using it mostly to buy used parts and second-hand parts for cheap or trade their items for bidding. That’s all they find good about the website now. If you wanted a brand new item or wanted to sell a brand new item you would not turn to eBay.
Terms and Conditions
eBay has made its terms and conditions complex for both the buyers and sellers which makes it impossible for both of them to stay in business with each other without any complications or hassle.
Conclusion
Charging higher commissions, offering no sellers/buyers’ protection, extremely complicated terms and conditions, bad customer support, and the lack of transparency, are some of the major factors that led to eBay getting sidelined in the e-commerce business. Furthermore, the rapid rise of the other innovative alternatives has led to the fall of eBay’s dominance. Though eBay’s fall from glory is not here for long in the world of brands and businesses that are ever-changing, the missteps of the brand can certainly serve as lessons for startups, budding startups, founders, business executives, entrepreneurs, and all who dream of being one.
FAQs
Is eBay an E-Commerce platform?
eBay is an American multinational e-commerce corporation based in San Jose, California.
Who is the founder of eBay?
eBay was founded by Pierre Omidyar in 1995.
Is eBay on the decline?
eBay is continuously losing its customers of e-Commerce market.
Who is the biggest competitor of eBay?
Amazon is the biggest player in E-commerce market that gave tough competition to eBay.
Do customers add products to their cart but ditch them without completing the transaction? We know how badly it affects your business. That is why we are here with some expert tips on how you can reduce shopping cart abandonment. Delve in!
Most online shoppers have a bad habit of ditching their cart items. This ditching process is popularly known as shopping cart abandonment in the online shopping world. The customer might not care much about abandoning the product added to the cart. However, it is a major headache for the sellers. They take a note of each cart activity to calculate the cart abandonment rate by dividing the total number of complete transactions by the total number of incomplete or abandoned transactions. Currently, the global cart abandonment rate is around 74%, which is huge.
For the sellers, even a small cart abandonment rate is heartbreaking because they want their business to flourish like never before. Hence, they try their best to reduce the rate. But most of them are new to selling things online and cannot manage the work alone. If you are also one such seller, we are here to help. In today’s guide, we will teach you the best ways using which you can easily reduce the cart abandonment rate. Keep reading!
Here are some of the best ways you can follow to decrease the abandonment of shopping carts by customers while shopping on your E-commerce website.
Keep Multiple Payment Options
Most customers do not complete the transaction because they cannot find a suitable payment option as per their preference. Due to this, they often switch to some other shopping site and buy the same product from there. But you can easily avoid it by providing multiple payment options on your site. Some of the most common ones are PayPal, Stripe, Neteller, Skrill, and credit cards. You can also include third-party payment services.
Even though online payment is highly preferred by shoppers these days, some like sticking to the traditional mode of payment, which is paying with cash. Hence, make sure you also keep the cash on delivery option available if possible. Even new customers who are not sure about buying from your platform will be prompted to buy if you allow COD.
Exclude Shipping Charges
Nobody likes to pay shipping charges after adding their favorite item to the cart. Moreover, if the shipping charge exceeds the product’s original price, it is even more disappointing. High shipping prices can often be a reason for customers to abandon their carts.
We understand that shipping a product includes several expenses, and hence, providing free shipping for all products is not possible. But here are a few solutions following which you can keep the customers impressed:
Try to add the shipping charge to the price of the product. For instance, if you are charging $2 for shipping, add it to the product’s original price. If it is $30, make it $32. In doing so, you make the customer feel that they are just paying for the product and there are no shipping charges.
If you are selling products that have a fixed price, such as cosmetics and grocery, you can keep the shipping charges as it is. You will see that some customers choose to buy the product despite the shipping charges, whereas a few will abandon the cart. Now, you can send a new coupon only to those customers who abandoned their cart items. They can opt for free delivery or an extra discount using the coupon.
If you want to gain more loyal customers and are happy with little profit, you can exclude shipping charges altogether. This will give you better profits in the long run as the customers will choose you again and again because of free delivery.
Besides free delivery, you should also have a free return and free exchange policy for at least a week after the product has been delivered. This will help you become a more trustworthy shopping brand in the market.
As you might already know, new customers are often unsure about making purchases from a brand new website. They fear getting scammed off of their money, and hence, they like sticking to their old shopping platforms. But this problem can be solved if a trust seal reflects on your website. A trust seal is given by a renowned authority that analyses the platform and gives the trust badge if everything looks fine. Many such companies in the market offer a trust seal. Choose the one that is popular in your country. The usual popular trust seal choices that most customers rely on include Google, the Norton Seal, PayPal, GeoTrust, the McAfee seal, and Better Business Bureau.
Allow Guest Checkout
We know how important it is for a business to get new member accounts. But at times, the customers are either skeptical about creating an account on a new platform or simply too busy. In that case, a guest checkout helps a lot. It allows the customer to purchase from your site without creating an account. Of course, after they are done buying, you can ask them to create an account. But even if they don’t, you sold something at least!
Keep the Checkout Process User-Friendly
A complicated checkout process, where the customer has to do many things before making the purchase, can be tedious. So, please try and keep the checkout process easy and manageable. Also, make sure the interface of the site is easy to understand. You don’t want to scare the customer away by creating a website that is too hard to use.
Using a progress indicator in an eCommerce platform is also great. It helps the customer track their progress while making the purchase, motivating them to reach the end of the transaction after completing just a few steps.
Conclusion
We hope our solutions help you effectively reduce the cart abandonment rate and get better sales than before. At times, the reason for cart abandonment is also because the seller is selling faulty or unattractive products. Hence, make sure you also check the quality of the products before hosting them on your eCommerce platform.
Reducing the cart abandonment rate will take time, but you will be able to do it easily with the right techniques and a little patience. So, what techniques will you use for reducing the cart abandonment rate? We are excited to know!
FAQs
What is the shopping cart abandonment rate?
The Shopping Cart Abandonment Rate is the percentage of online shoppers who add items to a shopping cart but then abandon the purchase.
Why does cart abandonment happen?
Shopping cart abandonment can happen due to following reasons:
High shipping charges
Unavailability of preferred Payment options
Purchasing is not allowed without an account
How to reduce the shopping cart abandonment rate?
Things to consider to reduce the shopping cart abandonment rate are:
Shikha Tyagi
