How Consumers are Leading a Transformation in the Supply Chain
With Bray Solutions
With advanced ways to shop online, consumers expect transparency now more than ever. The rise in online shopping has customer expectations at an all-time high, and they expect instant gratification. Now that you can buy such a wide variety of products from so many different platforms at a click of a button, consumer behaviour is changing and the supply chain is responding.
With e-commerce sales expected to be 22% of all global retail sales by 2023, the expectations of consumers continue to push businesses to rethink their supply chain. Before clothing stores that sold products exclusively online, such as Boohoo, e-commerce shopping was certainly not as established as it is now.
The ‘online’ consumer expects a more advanced experience that is quick, fault-proof and at a great value. Even down to the site speed, the customer experience is important. ‘For every 100ms decrease in homepage load speed, Mobify’s customer base saw a 1.11% lift in session-based conversion, amounting to an average annual revenue increase of $376,789. Similarly, for every 100ms decrease in checkout page load speed, Mobify’s customers saw a 1.55% lift* in session-based conversion, amounting to an average annual revenue increase of $526,147′ (from wpostats, 2016)
Speed of shipping
It is important that businesses keep this in mind to keep loyal customers and an efficient reputation. Start with shipping, the one obstacle that wouldn’t stop a customer buying products from a physical store. Offering cost-effective, or, even free shipping will keep a business on top of the supply chain. In a Jan 2019 survey, 62% of those surveyed said that fast shipping speed was a positive experience with a brand.
The expectation of instant satisfaction is a big part of the ever-transforming supply chain. This could include offering PayPal integration, next day delivery, or even just the simple process of promptly removing stock online that has sold out to prevent customer confusion.
Keeping up with the latest payment technology and speedy delivery times can be tricky to manage in the supply chain but utilising machine learning and new technologies can help. Here at Bray, we use Khaos Control, our warehouse management system to enable us to efficiently run our warehouse and provide customers with up to date information.
Multiple Platforms for Shopping
These days, you can purchase a product from almost anywhere, and customer loyalty is only going to stay as long as the offering provides them with a high-quality and easy service that meets their needs.
Something simple like groceries can be fulfilled in-store, online on a computer or an app on a mobile device. The limits are endless. The ability to shop across multiple platforms increases standards of the product, the service and the experience, all subjects that businesses must adhere to if they want to succeed above competitors.
The obvious – Social Media
Social media is at the forefront of B2C businesses.1 in 4 shoppers purchased something they would purchase in-store, online during lockdown, and $82.5 billion was reached in online spending in May, up 77% YoY. Millions are communicating on social media to discuss their opinions on brands and products every day. Thus the use of social media channels, and their increasing capabilities, is causing massive changes in the supply chain.
A negative review or comment can affect your business and the way your consumers see you as a brand. However, you can’t please everyone. All businesses will receive a bad review at some point, but it’s how you acknowledge and improve the situation that counts. A quick response, an apology and some sort of offering will do the trick as well as making sure that it doesn’t happen again.
On the flip side, social media is a great opportunity to receive instant feedback. A glance at a retailer’s Facebook or Twitter could make or break a customer’s decision to buy from you. A positive review could persuade them to purchase from you.
Social media has intensified the transparency of the industry. Customers are taking full advantage of social platforms to connect with their favourite brands, who then provide them with daily valuable content. Content such as product reveals, behind the scenes or simply using the platform as a way of enhancing the customer experience. As a business that uses social media, you can gain insight into consumer behaviour by analysing your activity and the results it produces.
There’s now also the option to buy direct through Instagram through their new shopping tab. More and more, having a strong social media presence and reactive CMS is important, as it opens you up to more opportunities.
Embrace the Transformation
A customer-driven supply chain gives businesses the opportunity to adapt and improve. Just by listening to what consumers want. It’s the perfect recipe for success if you can keep track of the ever-changing supply chain transformations! 79% of companies with high-performing supply chains achieve revenue growth greater than the average within their industries. It’s time to listen to your consumers!
Bray Solutions is the key link in your innovative supply chain. With warehouse storage options in the Midlands, we’re well equipped to handle logistics for international, as well as homegrown, clients. For more information call the team: 01780 784875 or email firstname.lastname@example.org
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Contact us at Bray Solutions if you require specialist DC fulfilment and ant Dangerous Good Requirements. 01780 784875.
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