How to give your e-commerce business a competitive advantage

E-commerce today faces a host of challenges, from fierce competition and poor customer loyalty, to good public image expectations

E-commerce is booming. Growth rates have been so spectacular in recent years that by the end of 2022 e-commerce is expected to make up 17% of all US retail sales. But as with so many things, success is often greeted by new challenges for e-commerce businesses and agencies alike.

Challenges galore

The phenomenal growth of e-commerce, particularly during the times of the pandemic, has led to an explosion in competition, squeezing already small profit margins and hammering brand visibility. As such, SEO optimization has become pivotal to survival.

Moreover, due to a plethora of vendors for the same or similar products and services, the slightest friction in user experience can lead a potential customer to immediately leave the site and head for a competitor. This is further exacerbated by a dearth of personalized experience in e-commerce, which customers used to the brick-and-mortar world have come to expect. As such, e-commerce struggles to instill brand loyalty in addition to conversion.

Finally, businesses have to adapt to the heightened expectation for corporate social responsibility among consumers. Businesses can no longer concern themselves with just profit for shareholders, they now also need to reflect the public’s values and even benefit society at large, by promoting social justice, environmental causes, and more.

With the advent of more socially conscious generations, that form opinions and take appropriate action at breakneck speed due to the hyperconnectivity of social media, businesses face a larger risk of losing customers and even experiencing a backlash in public opinion.

As daunting as these challenges seem, there is one solution in particular businesses and agencies can embrace that’ll not only address these issues, but also set them ahead of the competition, and (in contrast to corporate social justice lip service) have an actual positive impact on society: web accessibility.

What is web accessibility?

Web accessibility is the inclusive practice of ensuring websites and other digital assets are usable and navigable for people with disabilities.

This involves following certain design principles to ensure that people with auditory, cognitive, neurological, physical, speech, and visual disabilities, can have the same or a similar experience to those without disabilities.

It puts you ahead of the competition

With all the challenges related to a market saturated with competition, the idea of accessing a large, relatively untapped market with more loyal customers would seem like a dream. But with web accessibility it’s possible!

That’s because web accessibility opens up your products and services to over 1 billion people worldwide who experience some form of disability.

In the US alone, people with disabilities command an annual disposable income of $544bn. Globally, this number jumps to $6.9tn, when one includes family and close friends.

To put this in perspective, people who are blind spend an estimated $10.3bn on US-based e-commerce per year. Two thirds of this trade ($6.9bn) is lost by inaccessible sites to their accessible counterparts.

As people who are blind represent just 4.6% of people with disabilities, it's clear that the opportunity cost to inaccessible e-commerce businesses is immense.

Not only are people with disabilities a massive market with significantly fewer competitors, but consumers therein are more loyal, spend more per purchase, and shop more frequently than average consumers.

By making your e-commerce business accessible to people with disabilities, you’re offering 15% of the global population a superior experience most competitors sadly do not offer. In return, this market is likely to offer you their ongoing patronage.

It boosts your website performance and visibility

With so many competitors crowding the market, the importance of improving your site’s SEO ranking cannot be overstated. Fortunately, in addition to expanding audience reach, web accessibility improves sites’ visibility on search engine results.

As web accessibility makes your site and digital assets usable for people with disabilities, the user experience is naturally dramatically improved.

This leads to lower bounce rates (visitors leaving the site after only one visit), an increase in average time spent on the site, and therefore likely more sales.

It shows a genuine commitment to inclusivity

While corporate social responsibility is decades old, its importance has skyrocketed in the last decade. This is in large part due to the rise of the newer, more socially conscious generations, Millennials and Gen Z, which together form the largest global generation today (64% of the world’s global population).

Far more than previous generations, this conglomerate’s purchasing behavior is largely affected by a brand’s reputation regarding social issues like inclusivity. Gen Z and Millenials are willing to spend more on products and services from socially conscious brands and spurn companies with bad reputations.

E-commerce businesses that make their websites accessible to people with disabilities are making a genuine commitment to inclusivity, appealing to the newer generations’ sensitivities, and, of course, doing the right thing.

It mitigates legal risk

Web accessibility is required by law in the United States, Canada, the European Union, and other territories, and is increasingly embraced by more governments globally.

Laws that mandate web accessibility use the Web Content Accessibility Guidelines (WCAG) - a series of specifications web designers should heed to make their content accessible to people with disabilities - as the yardstick.

The number of web accessibility lawsuits has skyrocketed in recent years, in spite of COVID-related court closures, and far more in e-commerce than in any other sector.

E-commerce businesses therefore ought to make their websites and digital assets accessible to mitigate legal risk. For agencies, this is a service expected by most clients.

Web accessibility is simpler than ever

Web accessibility is simply the right thing to do, from both ethical and business standpoints, but execution can seem a daunting task. This is especially the case for businesses without the resources for dedicated consultants and expert developers.

Fortunately, making a website accessible no longer needs to be a complex or costly operation. Thanks to AI-powered solutions, web accessibility can be automated, scalable, and affordable for businesses of all sizes.

Ready to make your e-commerce business accessible? Find out how compliant and accessible your websites are in seconds with this free testing tool.

Are you an agency with e-commerce clients? With accessiBe’s partnership program, you’ll get a free license for their site and 20% commission for every additional site they make accessible.