India’s e-commerce market grew at a staggering 88% in 2013 to $16 billion and is estimated to reach $56 billion by the next decade, driven by the rising online retail. Investors from world over are betting big on online retail and investing as they see value in these ventures that aren’t truly profitable yet. Roughly $1.2 billion has been infused into online product retailing. The top players are digging gold and customers aren’t complaining either. They now have a wonderful blend of plethora of choice and improved convenience.
And with choice, loyalty vanishes into thin air.
A book is a book whether it’s buying through Flipkart or Amazon. Customer doesn’t seem to care just as long as he gets what he needs. His attention is more on the product than the channel that helps him get it. It’s getting increasingly difficult for brands to get noticed and be the preferred choice.
While Marketers have been trying hard to unlock this riddle, they stumbled upon a surprise finding. A new global survey by PwC* revealed an evolving pattern of consumers showing inclination to shop with only a couple of select online retailers, giving birth to loyalty in the online retail space, something that was unheard of earlier.
Customer is silently making choices, searching for reasons to embrace a particular brand. The survey credits better branding, loyalty programs and social presence for this emerging trend. Email marketers can well use these insights to design campaigns that can connect emotionally and present clear motivators for customers to choose their brand over others.
Here I share some ways how your emails can motivate customers to pick you as the preferred brand.
You don’t break even on one-time shoppers. Brands need to go the extra mile to become the favourite brand, create loyal customers and attract repeat business.
* PwC’s Global Total Retail Survey, February 2014