Top Ecommerce Challenges to Look Out in 2020

Abdul Fares | Brasil Sao Paulo, SP

The Ecommerce is a booming and it’s experiencing the surge of new entrants who wants to tap into the milk and honey of the industry and make a name for themselves says Abdul Fares. Access to a wide pool of consumers without geographical boundaries. Millions of consumers making their mobile devices as the first go-to when the need to make purchase arise, it is no surprise that entrepreneurs are digging traditional retail to online retails. Global Ecommerce sales are to reach a staggering $21.00 trillion by the end of 2019. What does this tell you?

There are still emerging attractive markets that can be explored and businesses are diving in to take advantage of what the sector has to offer. However, problems are looking ahead! Abdul Fares, the brainer of renowned e-commerce business, is equipped with the knowledge and experiences to explain the Ecommerce challenges that newcomer’s might likely face.

Let’s take a look at Ecommerce challenges for Startups in 2020!

Fighting to survive in a highly competitive environment

Competition with the Ecommerce behemoths such as Amazon, eBay, Walmart will pose major problems. These giants have the highest market share and they have already won the heart and trust of the many consumers worldwide. They have what it takes in terms of finance, advertisements, and promotions, brand credibility and reputation to knock down any new entrant without a strong foundation. Not only the big brands, there are still billions of Ecommerce businesses competing with your product or services worldwide and is the biggest Ecommerce challenge for startups says Abdul Fares.

Unless an Ecommerce start-up has got beyond the box product to offer, with good financial backing, thriving in this environment might be a challenge.

Consumers will likely not trust new e-commerce businesses

With the rise in security issues, consumer trust and confidence in start-ups and online retails in general experience a “fall”. The fear of online fraud and money transactions are the driven force of most people from online retails to offline ones. Moreover, consumers making purchases online are likely to buy with big brands with good credibility than those that are just starting out.

The good thing there has been advancement in Ecommerce technology to provide security and ensure consumers data are safeguarded.

Marketing and advertisement to get and retain customers are expensive

Marketing and advertisement is a powerful tool for success in an Ecommerce business. Even if you get the most sought after goods, without advertisements, no one will be aware of what you have got to offer. However, digital marketing is getting expensive every time. After most of the capital has been spent on developing the web to display your product, what is left might not be enough to carry on with advertisements.

An efficient marketing strategies should be made a priority and companies must include it in their initial plan and budget says Abdul Fares. Moreover, you can offer discounts, coupons and to attract consumers and boost sales.