How The Pandemic Shaped Online Marketplaces

How The Pandemic Shaped Online Marketplaces

Ricardo profile image
Ricardo
9 months ago

2 minutes read

In this blog, we present the challenge that all online marketplaces are facing today and how roseta.io provides sophisticated and affordable connectivity solutions for eCommerce retailers.

2020 saw an unprecedented change in the way consumers purchase goods. With non-essential businesses forced to close and people avoiding public spaces in light of the global pandemic, more and more shops transitioned to selling their products online. This surge resulted in eCommerce sales growing over 30 percent in 2020 due to a shift in demand. It is predicted that The Covid-19 Pandemic has accelerated the digitalisation of marketplaces by as much as 7 years, but how has this shaped customer expectations?

 

 

 

The Emergence Of New Competition

The indoctrination to digital marketplaces has resulted in an increase of overall online sales. As brick and mortar stores have no choice but to diversify and open up shop online, the consumer is spoilt for choice. Covid-19 has tightened people’s spending habits and more brands are offering lucrative deals to win new or repeat business. With greater competition it is crucial to make the customer’s online experience of your brand seamless and effortless so as not to lose their custom. An omnichannel approach to selling is wise for brand awareness, but the technology behind your website needs to be just as sophisticated as your marketing strategy in order to secure sales. 

 

Sophisticated Technology Solutions

It all comes down to User Experience, or “UX”. McKinsey & Company highlight how digital transactions are twice as important as they were before the pandemic as consumers opt for convenience. If a website is clunky and slow there’s a high risk that visitors will lose interest quickly, become impatient and leave the site. If a site succeeds in maintaining the consumer’s attention and the potential customer makes it as far as the checkout, there is still the risk of losing their custom. Ensuring your payment process is as straightforward and fluid as possible is crucial in securing sales. Research shows that the cart abandonment rate for online marketplaces averages at 80%; ensuring your payment process is as agile and responsive as possible will help to mitigate this risk. 

 

 

 

How We Can Help You Move Your Store Online

roseta.io can help you take your business to the next level by integrating all your ecommerce website functions to ensure the best possible user experience for your customers. We provide cutting edge technology with a customer centric service to ensure we lessen the load so you can trust in the functionality and usability of your site to retail and secure customers. We have pre-built and tested solutions for Bluepark, Shopify, Magento, Vend, and Epos Now to name a few. Get in touch with us to find out about how we can set your site up today.

 

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