A month ago, I had the opportunity to attend a panel discussion on the future of online retail at the World Economic Forum (WEF) in Davos, Switzerland.
In a speech that aired live on the WEF website, the WEFs executive director, Jose Manuel Barroso, declared that the era of ecommerce was upon us.
Barrose stated that “a revolution in the retailing economy is about to unfold.”
With the rise of e-commerce, barroso said, retailers can now offer a better experience for their customers and increase their revenue.
“The most important thing to us is the ability to make money, which means making money online,” he said.
“This will not be possible in the past.”
While there are a few major players that have recently been investing heavily in e-retailers, most notably Amazon, there are many other companies that have been investing in the space.
A new book, The Revolution of Retail: How Retailers Are Changing Our World, details the different ways that retailers are using online sales to grow their businesses.
The book also describes how retailers have used technology to improve their online presence, including using e-mail, Facebook and Twitter to promote their products.
It’s hard to know if these companies are going to succeed, but it’s clear that Amazon is taking the lead in online retail.
The new book also offers tips on how to build a successful online presence.
Here are some of the key points:1.
Find a niche that appeals to your audience.
While you could spend your time creating and nurturing your own niche online, you’ll want to start thinking about how your customers will react to your products.
Do they care about quality?
Are they going to spend their time and money buying a product that is great for them?
If not, why not?2.
Sell your product online first.
Amazon is already offering some of its own e-tailers that will cater to specific customer groups.
In addition, Amazon has its own store on eBay that is designed to attract customers that might not otherwise have been able to find a product on its site.3.
Sell online through Amazon Prime.
If you want to be a part of the “revolution” of online sales, make sure that you start selling online through your Amazon Prime account.
This offers free shipping and discounts on select items.
Build a loyal customer base.
Once you’ve created a strong online presence and created a loyal audience, it’s time to get into the sale.
Build an online presence that will grow.
As the digital revolution has taken off, so has the demand for e-store content.
Build your e-stores into a portfolio of successful brands.
Many online retailers are building a portfolio with their e-shops to compete with the likes of Amazon and eBay.
Use a mix of brands to build your business.
Online retail is rapidly becoming a major part of most people’s lives.
Make sure that when you start talking to customers about a product, they’re excited about it and will pay for it.