5 Things E-Retailers Can Learn from Amazon
Why do so many people look to Amazon for their online shopping needs? Well, here are 5 of Amazon’s key components to help E-Retailers convert like the Pro’s.
Online retailers big and small should look no further than Amazon as an example of how to run a successful e-commerce business. Originally launched more than two decades ago, Amazon has quickly grow to become the world’s largest online retailer. And in terms of market capitalization, it’s even the most valuable retailer, both online and offline.
Customers Want Free Shipping
The widespread success of Amazon Prime – the e-retailing giant’s free 2-day shipping service subscription – attests to the importance of offering free shipping. Customers simply pay an annual fee of $99 to receive free 2-day shipping on all eligible items. So, just how popular is Amazon Prime? According to a recent report published by Consumer Intelligence Research Partners, more than 54 million consumers have subscribed to the service.
Personalized Shopping Experiences
Amazon also boasts an incredibly personalized shopping experience. From the moment you first access the site, you’ll be presented with a list of previously viewed products – and the personalization doesn’t stop there. Amazon also shows related products, products inspired by your shopping trends, products recommended for you, and more. This highly personalized shopping experience has a positive impact on sales, encouraging shoppers to take action by showing them more relevant products.
Amazon has a simple yet highly convenient search function. Found at the top of the website, shoppers can search for keywords to find various products. This search function goes one step further, however, by revealing common searches along with the respective categories in which the products are located. It’s the little things like this that make Amazon stand out from other online retailers.
The company’s CEO Jeff Bezos has said “If you double the number of experiments you do per year you’re going to double your inventiveness.” That’s apparent if you keep up with Amazon, as the online retailing giant is constantly trying new things. Some of its experiments work, while others don’t. Regardless, Amazon is always testing new ideas, which is another reason why it’s the world’s leading online retailer.
Customer Reviews Matter
One of the Amazon’s greatest strengths is its product reviews. Amazon allows users to rate products using 1 to 5 stars, along with a written review, offering greater transparency for shoppers. Several studies have shown that most consumers trust online reviews as much as personal recommendations. And by allowing customers to post reviews about products, Amazon instills a greater sense of trust and confidence.
These key points are all things you can begin implementing into your E-commerce store to improve conversions and customer retention. Start today.