What an effective e-commerce strategy in 2022 looks like for brands
Zhou Junjie, the chief commercial officer at Shopee, explains that in order to build an effective e-commerce strategy, brands have to identify their current stages of growth and utilize the resources available on the platforms to maximize their growth.
South-east Asia’s digital economy is expected to hit US$1 trillion by 2030, with e-commerce being a key growth accelerator. Platforms are increasingly playing a vital role in the consumer journey, with shoppers coming online to browse, shop, and even be entertained. Therefore, to better address consumers’ evolving needs, brands need to sharpen their e-commerce strategies to better capture and engage customers at each touchpoint.
Capturing the attention of digital consumers
Consumers want to make informed decisions and often seek information from many sources like social media, word of mouth, and also e-commerce platforms before making a purchase. 95% of Shopee users rely on social media channels such as Facebook and Instagram to discover new brands and products. In addition, shoppers also research marketplaces for specific products, where a Shopee survey among Singaporean home appliance shoppers also revealed that online shopping platforms are the top information source before making a purchase.
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Digital payments seek to provide greater security and safety for users when transacting online / Pixabay
E-commerce platforms are an important channel for awareness and search, not just for conversions - making it more important than ever for brands to build their visibility in-app. By investing in and optimizing their use of platform ads, brands can maximize search visibility and drive traffic to their official store effectively. This makes a big difference in how brands boost their discoverability and connect with potential customers.
Creating seamless online and offline experiences for consumers
The pandemic has accelerated digital-first habits amongst consumers that are here to stay. With restrictions easing up, consumers are resuming offline activities, while still embracing always-on shopping habits because they seek the convenience and value that buying online provides.
Therefore, it's crucial for brands to be omnichannel more than ever - creating seamless brand experiences at every touchpoint. For instance, as the path to purchase is not always linear, consumers may sometimes discover a brand offline but choose to complete the purchase on a marketplace after researching online and using a voucher to get a better deal.
Making digital payments frictionless and secure
Brands that want to capture the growing base of new and existing digital consumers need to know that digital payments are also no longer a nice-to-have, but a crucial pillar for businesses’ strategies. Digital payments offer seamless, convenient, and rewarding digital payment options for consumers to purchase from brands. As more merchants readily embrace digital payments, it brings users a frictionless experience that integrates across many aspects of their lives. Today, users can use digital payments at a wide range of stores, both online and offline, catering to all kinds of consumer habits and preferences.
Further, digital payments seek to provide greater security and safety for users when transacting online. Coupled with attractive benefits and rewards, digital payments can serve as an important tool in building positive experiences for merchants, cultivating loyalty, and returning purchases. Working closely with e-commerce platforms that offer seamless digital payment in-app can thus help brands improve upon their offerings and better integrate into their customers’ lifestyles.
At the end of the day, to build an effective e-commerce strategy, brands have to identify their current stages of growth and utilize the resources available on the platforms to maximize their growth. It would take regular testing of new concepts, tactics, and tools to gain more experience for what works best for the business.
Zhou Junjie is the chief commercial officer at Shopee