7 Issues That Are Hampering The Growth Of Your Online Sales

7 Issues That Are Hampering The Growth Of Your Online Sales

The e-commerce industry is the brightest star in the era of the Internet revolution. Many notable tabloids stated that retail e-commerce sales amounted to 342.96 billion US dollars and are projected to surpass 600 billion US dollars in 2019. According to eCommerce Websites Brisbane, Retail e-commerce in the US is projected to generate a hundred billion US dollars in revenue by 2019. The figures clearly explain the power of e-commerce industry.

 

 

But still, there are many challenges comes in the way of business which hampers the growth of the business. Here are some of the challenges faced by the business owners:


  1. Absence Of Online Identity Verifications


When a visitor visits an e-commerce website and signs up, the portal is unaware of the customer except for the information they enter. The customer is genuine or not is questionable. This creates huge revenue losses for a company when a customer makes a Cash-on-Delivery purchase and the information entered like phone number, the address is invalid or fake.


  1. Competitor Analysis


In this competitive world, there will be too many competitors who will be offering the same products and services. Unless merchants have the best strategy that differentiates themselves from other competitors, it will become difficult to survive.


  1. Issues With Product Return And Refund


In one study it was reported that 63% of American consumers check the return policy before making a purchase and 48% would shop more with retailers that offer hassle-free returns. This shows that consumers are very much consciousness for the return and refund policy.


When the product is returned, due to some reason, whether a customer was dissatisfied or the product was damaged, the business suffers a heavy loss of shipment and reputation.


  1. Competing With Price And Shipping


The small e-commerce businesses are badly affected by the competition as the mid-sized or large competitors often offer products for less price and free shipping on nearly every order.


  1. Personalization


Managing a repository of customers data is a challenge in itself, added to that e-commerce companies have to understand how to use that data. Some of the methods which can be improved in the form of delivering customized content are advertisements, special offers etc.


  1. Borderless Economy


Mobile technology has empowered consumers in myriad ways. Taking globalization to a new level, it has opened doors to a digital economy. Traditional boundaries are clearly blurring, with online retailers expanding to a new geography.


This leaves companies to deal with government regulations, geopolitical status, and extensive local and international competition. Today each and every modern e-commerce businesses are in a race to provide the best premium services to their consumers while finding the right balance between globalization and localization.


  1. Problems Of Data Security


Fraudsters post to lot of spam and they may attack the web host server and infect all websites with viruses. They can get access to all of their confidential data about the customer’s phone number, card details etc.


Final Thoughts


Surviving in the E-commerce competition is no less than a war, requires outstanding strategies. If the merchant is not willing to struggle, then they should give extra efforts on their every aspect of a business. Magento E-commerce developers must be prepared for challenges and growth at every stage of their business, and ultimately it will have a better chance to bloom.
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