How eCommerce is Changing and What Waterfall Consumer Financing Can Do to Help
The world of online shopping continues to evolve following the Covid-19 pandemic and the rise of modern, tech-savvy consumers. As a result, business owners and their marketing teams need to up their digital game and provide consumers with more reasons to buy from their online platforms. From integrating new tools like waterfall consumer financing to promoting brand loyalty, we discuss critical ways brands can respond to the changing eCommerce landscape.
The New Norm for Online Shopping
Covid-19 ushered in a new era for digital commerce as millions of people around the world had to resort to online shopping for basic household goods, luxury items, and other products. This was in response to social distancing protocols, and the effects appear to be lasting. As of July 2021, 67% of consumers in a study group claimed that their online shopping behaviors changed during the pandemic. As shopping behaviors determine trends, the continuing shift to eCommerce brings new challenges and calls for online stores to adjust their existing marketing strategies.
Greater spending on recreational goods and housing products provides an entry point for companies that may have not considered expanding into the industry. The demand for Covid-friendly practices means that businesses need to reassess their consumer journey from online shopping to the delivery of items. Social media and Google have seen increased interest as viable shopping channels, enabling the sales of products on their platforms.
All these changes to eCommerce demand greater digital flexibility and encourage brands wishing to stand out from the competition to integrate new solutions for the digital consumer. Let’s take a look at some strategies to help your business adjust to the ever-evolving eCommerce landscape.
Integrate Waterfall Consumer Financing
Waterfall consumer financing companies, like ChargeAfter, offer eCommerce brands financing capabilities for their consumers. The ChargeAfter integration connects a company’s consumers with a network of lenders that offer zero-interest repayment plans. Consumers shopping on stores that partner with ChargeAfter can receive their repayment options during checkout when they click on ChargeAfter’s integrated waterfall consumer financing button. The consumer does not need to go through any credit checks during application and the financing process takes place within minutes. The benefit of integrating waterfall consumer financing lies in the ability to offer new and existing customers reliable and on-demand repayment solutions, allowing them to easily shop their favorite products from your store.
Implement Social Selling
Platforms like Facebook and Instagram offer eCommerce features that can help brands leverage their social communities. By implementing product catalogs on your social media pages, you create an additional avenue for consumers to shop with your brand. This will extend your reach and attract the attention of customers who are already aware of and in support of your brand. As retaining customers is more cost-effective than acquiring new customers, this strategy can provide a great return on investment.
Make Google a Priority
If your online platform is not optimized for Google then there’s a slim chance you will receive organic traffic to your store. Implementing proper SEO is a cornerstone of search success, and you can level up your SEO efforts for online shopping by integrating Google Merchant Center. The platform allows online stores to use Google Shopping as a revenue stream, enabling shoppers to find your products through Googe Search and purchase them directly from the search engine.
As eCommerce continues to evolve, online stores can attract new customers and retain existing shoppers by adopting new strategies. Waterfall consumer financing, social media selling, and Google Shopping are new avenues for business growth in the post-Covid pandemic eCommerce landscape.