It takes more than a stroke of luck to get your eCommerce business to the top ranks of popular online retailers in the United Kingdom.
Judging from InternetRetailing’s list of top 500 retailers in the UK for 2017, your success lies in three key areas.
Aside from selling your product to the right market niche, keep your focus on the following:
- Shipping and logistics
- Communication tools
Amazon, Boots, Asda, John Lewis, M&S and Tesco have apparently been focusing on these areas, hence the reason they were named Elite retailers in the third annual IRUK Top500 report.
Prioritise the Best Delivery Option
The common denominator that UK’s top retailers share is the ability to deliver items to their customers fast.
The faster you can get their ordered items to their doorstep, the more reason you give them to buy from your store again.
Market researchers say 65% of online consumers prefer next-day delivery while 57% like the click and collect option.
Communicate with the Appropriate Tools
Some people prefer to talk on the phone, while others prefer to chat.
Knowing your customers preferred method of communication will enable you to invest in the right tools for your site.
You can also engage customers with product reviews, blog comments and forum boards.
Some of the bigger retailers even invested in advanced communication apps, to give their customers a better shopping experience.
Take John Lewis, which has a personal style app that helps a buyer identify a clothing or footwear style that is most suitable for them.
Plan Your Pricing
Half of the top 50 retailers in the IRUK Top500 sell their products at a lower price than Amazon or eBay.
However, do not make the mistake of pulling down your prices just for the heck of it because it can do your business more harm than good.
You don’t want your customers to think of your goods as shoddy and substandard because they’re too cheap.
Consider dividing your customers into groups so that you can adjust the price of your product based on the customer group whom you’re selling to.
Offering a seasonal discount or an introductory come-on is another marketing tactic to consider, as it will encourage customers to buy more items from your site.
Now if you’re selling high-value items, and there’s just no way you can pull down their prices, you can take Argos’s approach.
Renowned British retailer Argos offers a “buy now, pay later” scheme which allows buyers to stagger their payments.
UK’s leading retailers won’t hesitate to try new selling tactics if it means improving their business, so neither should you.
But you will want to take what Ian Jindal, InternetRetailing’s editor in chief, said to heart:
“At InternetRetailing, we believe that retailers of all sizes can compete and we hope that this Top500 goes some way to sharing a clear understanding of what the leaders in multichannel retailing do, how they do it, and how their successes can be emulated by concentrating on the tools and technologies that make a real difference to profits.”
To your continued success,
Dave & Matt