13% decrease in online sales in Europe — how to resist?

Due to variables such as inflation, there has been a decrease in purchasing power amongst consumers.

According to statistics from Ecommerce News Europe, globally, online revenues have dropped 3%, in the first quarter of this year, when compared to that same period in 2021. And online sales in Europe saw a 13% decrease.

This emphasizes the importance of retaining your current customers along with investing a budget in acquiring new ones.

We’ve come up with a quick digest on how to retain your customers at peak efficiency:

1. Encourage customers to return

Empower your store with an effective marketing tool and encourage customers to return with reward points that can be used to pay for the next purchase. Such a step will motivate your customers to make repeat purchases and bring you more profits.

2. Thank regular customers with exclusive discounts

Another way to increase customer retention is to create an effective loyalty program to thank your customers with exclusive discounts, motivating store visitors to sign up and spend more. This way, you can create a flexible reward scheme to provide your customers with a variety of relevant offers and discounts.

3. Meet customers’ growing need for payment flexibility

Ecommerce News Europe statistics show that “Buy Now Pay Later” services are becoming increasingly popular. This trend indicates a growing need for payment flexibility. Therefore, the last tip would be to add a flexible payment system to your store. As statistics show, one of the best ways to reduce customer resistance to pay is to give them the option of partial payment.

Feel free to use the above methods in your store to stay on track during these unfavorable times.