Tagline - Growing inflationary pressures makes e-commerce sellers sweat amid consumers' changing preferences. People are now purchasing fewer items than before. Or they prefer to switch to cheaper alternatives. This has made e-commerce sellers seek innovative ways to retain their existing customers and reach potential buyers.
Singapore - SellerApp - 23.11.2022
It is no secret that the world is still experiencing the aftereffects of the pandemic and the Russia-Ukraine war. One of the most significant ways we can witness this is through inflation. If you are unaware, inflation refers to an increase in the price of goods and cost of living but a lesser value for money.
Due to the aforementioned factors, the e-commerce industry has also taken a hit. The general shopping behavior has changed, and there are fewer purchases than earlier. The impact is so significant that in 2022, the industry is expected to generate a global revenue of $3.74 trillion compared to last year’s $5.2 trillion.
However, the overall customer sentiment toward e-commerce seems to be positive, which, in turn, is creating opportunities for sellers and brands to divest their investments in digital advertising. For example, increasing the digital mindset among customers is helping Amazon sellers turn PPC into a competitive advantage, which is paying off their efforts. A sudden CPC hike has also been observed, whereas the conversion rates are very limited.
Such data can be found on one of the most sought after PPC software, SellerApp. The company is known for being the best in e-commerce data intelligence, PPC advertising, and solving business related problems for Amazon. It helps sellers run their businesses smoothly by providing tools like product intelligence, keywords, automation, etc.
“The biggest challenge today is to retain your customers in times of inflation. But if the focus is on solving their problem, it should take the pressure out of price and lead to higher sales and margins,” says Brij Purohit, Co-Founder of SellerApp.
In the face of inflation, it's necessary to take actions to make e-commerce transactions less challenging. One must recognize the factors affecting price inflation and keep an eye on the sales volume. Research the current pattern of customers’ shopping behavior and adjust the price accordingly.
About SellerApp:
SellerApp is a leading AI-powered e-Commerce Intelligence platform that combines data, technology, and intelligence to empower budding entrepreneurs and Fortune 500 companies alike and help them accelerate their growth.
Author’s Bio:
Arishekar N is the Senior Director of Marketing and Growth at SellerApp, an e-commerce data analytics solution. He is responsible for overseeing the development and implementation of marketing strategies, as well as increasing process efficiency by executing cutting-edge Search Engine Optimization strategies at SellerApp.
Arishekar has over 10 years of experience in marketing analytics and SEO. He has worked as a Digital Specialist for the tech giant IBM and most recently as the Senior Marketing Specialist for ZioTive Technologies where he enhanced their site structure by increasing website and mobile usability. Previously, he worked as a Senior SEO Analyst for Star Group where he was responsible for managing SEO Audits and analytics.
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Source: Story.KISSPR.com
Release ID: 457117