Back in the past, you could sell just about anything as the competition was minimal. The reason for minimal competition was the higher costs of technology as it is now. According to statistics, ecommerce websites sales amounted to 342.96 billion US dollars in 2015. The figures clearly explain the power and growth of eCommerce industry, but this doesn’t mean every online shopping website is making money.

Online shopping websites have to face various challenges these days. When looking for a professional for Magento development, one has to take care of everything, from customer service to website maintenance.

 

Top 5 Challenges Faced by Magento Ecommerce Stores and How to Resolve Them

 

  • Confusion over what to sell

The technology is cheaper these days and the platforms like Magento have eliminated many barriers of entry. These days, almost anyone can launch an online store and start selling all sorts of products. Magento extensions make development cheaper. Amazon is taking charge over the eCommerce world with virtually everything available to be purchased online. Resellers from all over the world can easily reach paying customers.

All this has made it difficult for the newbies to enter the market with unique products unless they decide to manufacture their own.

Solution –

Research about the current market trends and look for best-selling products. You may choose to sell the products that are performing great on internet or simply have your own creations on the website such as handmade products.

  • Maintaining Customers’ Loyalty

You may create an engaging and attractive website for online shopping, but what’s the guarantee that they’d come back to you for more? Online shopping businesses have to struggle each day!

Maintaining customers’ loyalty is the biggest challenge faced by eCommerce portals these days, making it difficult for stores to make customers and maintain the same relations for long time. The most common reason behind the problem is that the seller and a buyer doesn’t know each other. It takes time for the companies to build the customer trust and loyalty.

Solution –

Providing unmatched customer service is the best way to create better relations with the buyer. You must make sure your customer is satisfied and they have multiple options to reach your support team.

  • Product Returns & Refunds

Another great headache for eCommerce store owners is the product returns and refunds. According to experts, 63% of American consumers go through the return policy before making a purchase. The websites offering hassle-free returns are more preferred over the competitors. This clearly shows how conscious consumers are these days.

Since the customer and seller doesn’t know each other, customers are likely to opt for Cash-On-Delivery (COD) option, and refuse to accept the product if not satisfied. The product returns may result in huge revenue losses for many e-commerce companies.

Solution –

Returns and refunds are also part of the customer service. This is important to give attention to them in order to build relations with the buyers. Make sure to have a strong and convenient return and refund policy that customers can trust and enjoy. Make sure to create a return and refund policy that is transparent and easy to understand.

  • Low Web Traffic

With fierce competition, the global buyers are divided across the available shopping portals. Low website traffic is the commonly faced issue by shopping websites. One week you may have a great number of visitors with great sales and the number of visitors may go down the next week and sales may also get affected.

Also, you may deal with an overwhelming number of people asking you about your products and services. The traffic is fluctuating on the shopping websites with assurance of always going towards the upper side.

Solution –

First and foremost, it is important to use Magento extensions to integrate unique functionalities to your website and also use Google Analytics and Webmaster tools to monitor the number of visitors on your store. These tools can help you understand the shoppers’ behavior and tailor your marketing strategies accordingly.

  • Data Security Issues

Online website portals involve multiple transactions each day. Hence, it is important to take care for the security of your users’ personal and financial details. The internet is nasty place where hackers are always looking for vulnerable platforms to break in. Hackers may also attack the web host server and infect all sites with dangerous viruses. It is very important to keep these miscreants at bay.

Solution –

Most new shopping websites use shared hosting plans to reduce expenses. It is suggested to use only dedicated hosting plans as they’re more secure than the shared ones and make sure installing premium Magento extensions only from the Magento Marketplace to be sure about the security of your website. Magento Marketplace carefully analyses each extension carefully so you can be stress free about the security issues.

The Last Word:

Surviving in the touch eCommerce industry requires the outstanding strategies. Consumers have countless options to buy from. It is important to give them a reason to buy from you. The reason may be anything – cheaper costs, better security, better customer service, unmatched products, etc. You must be prepared for challenges and growth at every stage with the best solutions.