SHOPIFY EXTENSIONS – HOW ENTREPRENEURS ARE THRIVING E-COMMERCE WITH FLEXIBLE BUSINESS PLANS
Our world has been experiencing unexpected events such as economic recessions and pandemic crisis that has changed the trajectory of governments, economies and businesses. And with this fast paced digital world, businesses need to come up with strong strategies to ace the market. And for that, both vendors and entrepreneurs can use Shopify extensions to create a fully-functional e-commerce platform. Well, if you give a look at the global stats report, you’ll understand that before COVID-19, the SARS pandemic of 2002-2004 was the catalyst for the meteoric growth of then-small online marketplace, Alibaba which aided in it becoming one of the world’s largest e-commerce companies. Do you even wonder what fueled the growth of this business? Well, the underlying apprehension and the need of customers allowed marketers to create a big name in the online market.
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Not this, the financial crisis that were caused in 2008 powered the popularity of the gig economy. It sparked the growth of startups like Airbnb and Uber. This also light the talent in web developers to use Shopify extensions and create e-commerce stress like AliExpress, Amazon and more. Along with that, entrepreneurs began to target the audience’s needs by knowing the necessity of social norms. And with all these changes, they learned how to overcome financial deficits and earn more money.
Where Amazon was birthed out of the gig economy, its subsidiary Amazon Prime found its footing in the online delivery upswing with its new package service initiative to meet the needs of the current pandemic. These horrifying pandemic crisis might have caused businesses to respond to the demands of anxious, worried and isolated consumers in creative and direct ways. And today, from bulk-buying to panic online shopping, people continue to change what, when and how they buy.
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In this way, digital entrepreneurs continue to think outside of the box to sprout big ideas that offers both assurance and confidence to the potential customers. According to several studies, it was discovered that this outbreak lead e-commerce businesses and Shopify extensions to have an apprehend on other businesses in this era. The veterans even said, brands that don’t fit into those immediate needs need to alter the way they communicate and look for opportunities to capitalize on changing consumer preferences. And the ones that are needed the most have become top priority purchases are non-essential items like apparel, luggage and electronics.
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According to the specialists, it is expected that even after the pandemic is over, the e-commerce sites will continue as a key channel for business. From online grocery shopping and tele-medicine, for instance, are helping to avoid in-person contact and reduce the risk of new infections. The web developers will use Shopify extensions to create a high-end online store. It is also expected that small retailers will also shift to VR selling methods and pursue to make video conferencing, movie streaming, and online education more tolerable. And due to that, online video chat platforms like Zoom skyrocket to 200 million daily users from 10 million in a matter of a few months.
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Another feasibility for entrepreneurs is that a majority of restaurants can deliver online. Not only e-commerce but other businesses are retailers embracing their potential to reach their prime goal. Along with that, e-commerce has helped employment during the crisis. Wonder how? Well, according to the latest report, Walmart and Amazon pledge to hire 150,000 and 75,000 new employees respectively, and Target announced measures to hire 80,000 workers for its Shipt grocery delivery services across the country and beyond. This all came into place with the Shopify extensions that are effectively used to develop smart e-commerce mobile application.
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Here are a few tips for today’s entrepreneurs to meet the on-going demands of an online e-commerce business during the current pandemic:
- Refine and revive your company’s value proposition based on the current sales
- Gain knowledge about what your customers need and customize your products and services to evolve with their preferences. In this way, you can evolve your methods and target their potential needs.
- Stay as nimble and lean as possible while growing with the demands of your business.
- Consider how you can improve your operations for the future so that you can continue to thrive after the pandemic.
- Ask for constant feedback to improve your online user experience.
- Be flexible and learn to iterate your existing online platform and internal processes.
With continuous online e-commerce business, it is expected that retailers will reach $6.5 trillion by 2023. Undoubtedly there’s no question that e-commerce sectors will expand their boundaries and continue to rise. Though it will require a flexible game plan for how founders will adapt is what will help them reach their full potential post-pandemic. And to know more about the retail and e-commerce businesses, their needs and tips to grow, you can visit Shopifyninja for free. So don’t wait and get notified with similar updates and blogs.