Digital Markets: An Increase in Sales and E-Commerce Security
There is no question that the Covid-19 pandemic has given new shape to the world, both on and offline. Far from seeking out products or services in brick and mortar shops, more and more consumers are turning to online shopping as their new primary mode of purchase.
As demand for virtual platforms soars, business models and methods must adjust and adapt to stay viable. Designated swap sites like Craigslist or social media platforms might offer options to buy and sell but these consumer to consumer C2C platforms are not secure and can act as breeding grounds for scams. Whether operating in a local, small-scale fashion or as part of a business to consumer B2C or even business to business B2B operation, it is paramount to provide secure and reliable transactions.
Rapid Growth: Keeping Customers and Maintaining User Experience
Whether in-person or online, store owners are responsible for providing secure transaction options and that includes electronic commerce. For many companies, digital upgrades were on the horizon but may have been slated for slow implementation. While a high-functioning digital site and e-commerce system is a necessary innovation, not all businesses were keen to make the switch – and certainly not quickly!
Plenty of business owners have been hesitant to make rapid transitions to their networks, for fear of alienating existing customers. Bringing in new clientele means growth but maintaining it is the key to success. What may be the greatest attractant for new customers might be exactly what drives more seasoned shoppers away. A progression that may have been slow and steady before has been accelerated by the pandemic.
Since the outbreak of Covid-19. everything from clothing to security systems, medications and groceries are all purchased online. Delivery and ordering services that may have been reserved for emergencies or are not commonly used, began to skyrocket and a workable online ordering system became the difference between success and downfall.
Protecting Your E-Commerce Store
The wide world of online business has changed drastically in the last year and a half, with increased online sales and a huge push for online retailers to offer web-accessible products or services. Covid-19 has shifted buyers’ perspective but it has also shifted the priorities of business owners. Corporations, start-ups and local businesses are now tasked with meeting the need for greater ease of use for customers, safer payment gateways and e-commerce fraud protection.
No matter the type or platform, retail sales have an inherent risk to both buyers and sellers. Standard payment systems like PayPal tend to side with online shoppers so what about businesses? Proper fraud protection serves to protect users on both sides of a transaction.
Most basic fraud protection outlets serve to protect online shoppers but retail sales must be protected on both ends. In the same way that identity theft can impact consumers, it can damage an e-commerce store in much the same way. With the explosion of online shopping, more and more digital products are flooding the market, designed to provide end-to-end encryption of customer data and verification of identities. Simply choosing a program or service to guard your networks is not enough to ensure that you are receiving the right protection for both the public and your business. Speaking with an expert can help to monitor your current security risks and help to anticipate new ones in a shifting online climate.
Leading the Pack: Do More Than Keep Up
With the anticipated length of the pandemic in a constant state of flux, more and more of the digitization that has happened over the past year seems to be a permanent part of the new business world. With more and more executives leaning into new digital platforms, and funding these necessary changes in structure, digitization as a investment is here to stay.. With the prolonged use of e-commerce, businesses are seeing more and more opportunity for specialized training and growth.
Failing to keep up with web based consumer needs and safety can leave your business behind in the dust. Those businesses that are thriving in the pandemic are those that accepted digital acceleration early along in the pandemic but that is not to say that it is too late. Large scale and long lasting change can all begin with a single phone call.