Speed of Delivery as the Biggest Concern of Today’s Consumers

Online shopping has been praised and patronized by customers today because of the convenience and efficiency that it offers when purchasing products and services. Compared to the traditional, it can serve millions of customers around the world effectively. By making purchasing easier and faster with just some clicks away and without having to go out of their homes unless they have to pick-up a package somewhere very close or opening the door to receive the item.

Aside from the cost of the items, what stops the shoppers from buying is the thought of delivery time. Studies nowadays show that late deliveries lessen customer satisfaction. This also changes their behavior especially of younger consumers who are seen to be more impatient to wait for the things that they have been buying online.

This is a big lesson for all online shopping businesses. Accessibility and providing a user-friendly interface through commercial websites doesn’t completely determine whether they will be patronized by many customers. They only become more likely to succeed if they assure to serve fast and deliver sold products as soon as possible. This will pave way to good reviews which will be the basis and reference of thousand other shoppers looking for the best online shopping company.

It is also showed by survey reports that issues with delivery execution which includes cost, speed and reliability should be taken as primary considerations for these are equivalent to customer satisfaction which will boost their shopping behavior. Being able to focus on these can give you customers who are unhesitant to put multiple items on their shopping carts and avail them from time to time.

As for shippers, it is important to understand the biggest complaints from consumers because it can help them to succeed in differentiating itself from other companies that continue to deliver late or incorrect orders to customers. Failing to do so is a risk and can cause you to lose customers due to shopping cart abandonment. It can also spark an issue and cause a tirade of negative feedbacks due to customer discontentment.

The solution that is being seen nowadays is to start improving fulfilment even before deliveries reach the customers. This means retailers need to invest in technologies to drive improvements in warehouse automation. This way, it would be faster to process orders right after they are placed so you can allocate enough time for the door-to-door deliveries.

It is shown that orders that were consistently on time and in “perfect” condition for customers creates a big plus and will help build brand loyalty which keeps customers on patronizing a certain online shopping service provider.

It is undeniable that the world has changed a lot to the extent that it developed a fast pace that everything must cope with. People are busier, making time more precious than ever. So they now prefer services that give them everything they need as fast as possible. This behavior and mindset is now what runs the market including the different industries such as online shopping.

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Knowing What’s Marketable for Today’s Youngsters

Recent studies revealed that the younger generation of today puts value to price and rewards more than ever and this greatly affects their brand loyalty and their purchasing behavior.

They say the youth of today are harder to please and to impress. While some say the age gap is a now challenge for business owners because it is a factor in knowing what young ones would want.

By far, price is now considered as the most critical factor when purchasing. Due to the wide array of brands offering the same products and services which are made almost the same, it has become so hard to identify who has the higher quality. This is why the price-tag became the basis of whether the item is worth it or not.

But, most of the time, when it’s hard to know what’s best to buy, these young people prefer on the safe zone by choosing prominent brands over private labels. At some point, they find assurance in knowing that this brand has made a name and established its credibility on the industry.

This poses a threat and a challenge to the new and rising businesses as there is a need for them to prove their self and create a good impression for them to be patronized.

However, aside from these factors, personal lifestyle also matters a lot. This means economic status and standing greatly affects an individual’s purchasing power. So, there are times that they tend to consider looking for lower prices when looking for something they want to buy.

Online trends on the other hand, possess a great appeal on these people’s preferences. Due to the access to information and data, it has been easier to disseminate fashion and lifestyle trends and photos which would define what this generation would purchase. It is also easier for them to communicate with one another exchanging ideas, comments as well as refer their favorite brands to their friends and peers. This is why online presence and influence is also important to brands as digital technology plays a major role into the life of most people today.

There is also an impact caused by shipping services and online shopping. It has raised the standards of purchasing, as well as promoted comfort and ease when it comes to shopping compared to the traditional ways which also affected their sales. Making them desperate of knowing what this generation really wants.

There are countless studies today about what’s marketable to Millennials and Gen Zs but believe it or not, the only best way to know is by interacting with them in the online world because that’s where they really express their aspirations. So, at the end of the day, it will all go down to social media which is one of the primary means of communication today. This is also where you will know personalities or “influencers” who are being looked up to by young people.

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Starting up with a Subscription Box Business

Subscription boxes are said to be one of the best ways to shop. Due to its convenience along with the unique experiences that it can offer to the consumers; some of which involve products and themes, introduction of new brands, and making checking of mail more interesting.

While if we are to talk about the business side, we can see subscription commerce offering a stable financial model rooted in recurring monthly revenue that can take part and be established around almost every niche – from board games to beauty and cosmetics and even to pets! As long as there’s an already existing community around a product or category online, there is a big chance that you can build a subscription box around it.

However, everything has got to start with something right? Just like anything else, initiating a subscription box business must be initiated with an idea; a good one to be specific because when it comes to subscription commerce, you really have to identify greater ideas to just good ones.

Of course, having that idea is not enough. You must also be able to identify your niche and find the most suitable market for you. This includes having a competitive analysis and customer profile which gives you enough knowledge about what you are about to do.

There are a lot of specific market that offers different products and services. Chances are, there are already a lot of established competitors so it must be very hard to just start now, but, if you will be able to find a field where you can make a name for yourself, then better take that path. On the other hand, you can also try on common but general markets such as food, fitness and cosmetics because these are considered as necessities and it’s impossible not to have even a single customer.

Now, after knowing what you want to sell, and who you are competing with, of course you must not forget having a target market. You must also have their demographics like their common age bracket, preferred locations, economic standing or income level and their preferred social platform.

Now you can proceed with pricing your box. While most of subscription box owners make mistakes and tend to misprice their box; whether they’re pricing too low to stay competitive or pricing too high to secure a hefty profit margin, both ends of these spectrum will threaten the viability of your business. So you really have to think of the right price that will make your business profitable and scalable.

When pricing your box, you have to consider the Product cost; Box cost along with the box accessories (stickers or stamps); Packing materials cost such as filler paper, bubble wrap, or inserts; Postage/shipping costs or the mailing labels, packing tape, etc; Fulfillment costs (physically packing your box), Transaction and platform fees: charges from your payment processor and ecommerce platform per order; Fixed monthly costs or the Gmail fees, accounting software fees, etc. and lastly, the Acquisition costs which includes the advertising & marketing to acquire new customers.

From here, you can start with the prototype of your box, as well as establishing your website along with the marketing and advertising strategies. After that, orders would follow so you have to secure a good delivery and shipping service because that’s what will make a good impression to your customers.

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Importance of Person-to-Person Interactions in Retail

The common misconception about Customer Service which is often catered by Call Centers is that it is only about dealing with angry customers and hearing all their complaints. However, new studies show that there is a vital role being played by customer service and the agents manning it on making the transaction with customers smoother and more preferable. Reports also show that despite the advancement of technology and automation. Most of the consumers nowadays still trust actual people to handle their concerns. Here’s why.

The cost of hiring people to work on customer service is quite pricey. This has been an obvious reason why many companies prefer to automate this part of their business. However, if we will ask the customers themselves, surely, they will tell that it is still more preferable for them to deal with another person just like what surveys revealed.

Automated customer service support may be faster and more efficient. But there are elements that it lacks compared to the traditional where actual people receives the concerns of the customers. The customers’ confidence is connected to their loyalty. Now, if they are not confident with the system that will handle their concern, it is less likely that they will be satisfied of the result. It is better to know that they have trust because they have been given an assurance by a representative that their request is being handled and solved.

These problems however, might be less bothersome to consumers if more automation and technology was used within customer service. To be fair, Bots can quickly record customer complaints and analyze possible responses, in addition to scaling quickly at less expense than human staffers. This, in turn, means more calls can be answered quickly; although, more bots may not be the answer if consumers don’t like interacting with them.

For many consumers, receiving personalized communication via email, chat and social media from companies they have a business relationship with was important.

As of today, technology still lacks the humane characteristics which are important in solving problems of their fellow human. This includes sympathy which is vital in making the customer feel that the one they are talking to understands them and what they feel and is also eager to help them. A large number of consumers still are not comfortable with the notion of talking to a robot, nor do they believe that technology is going to solve their problems.

Hiring people to work on Customer Service Support is also a way of making your customers feel that you are sincere on dealing with their matters and that you are responsible with what happens after they transacted with your business. It is a good way in building a positive impression and a trusted reputation which would help motivate them with their future dealings with you and it can also make them pass down the positive outlook towards you with their influence to their friends and peers.

 

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