Competition can motivate new entrepreneurs to be the best, but it can also be stressful, depending on the industry. For small ecommerce store owners, competing amongst each other is already challenging enough without the added stress of trying to surpass giant ecommerce brands.

However, with the right strategy, product, and tools, any small ecommerce brand can compete with big ecommerce stores. This short guide underscores simple changes that can positively impact your sales revenue. Before that, let us first take a quick look at the current state of ecommerce.

How Global Ecommerce Giants Are Dominating Online Selling

As of 2023, China remains the biggest e-commerce market in the world, with Alibaba Group subsidiaries at its forefront. It is also one of the fastest-growing e-commerce markets, and forecasters expect revenue to grow to $3.56 trillion by 2024.

Meanwhile, e-commerce giants Amazon and eBay are leading the digital selling market in the US. As the world’s second-largest e-commerce market, the country enjoys healthy e-commerce growth in all sectors and has been an innovation powerhouse for e-commerce trends.

The UK is also a big e-commerce player, with total market revenue projected to reach $285.60 billion by 2025. Top ecommerce sites in the country include Amazon UK, eBay UK, and Asos.

Today, ecommerce giants like Amazon, Walmart, and Apple have an unparalleled foothold in their territories and the world. As you try to expand your humble ecommerce store, you can find some inspiration by studying how these companies achieved great success.

How Independent Digital Stores Can Compete

While it may seem impossible to compete with ecommerce giants, entrepreneurs with the right approach and tools will manage just fine. Here are several simple steps you can take to help your business stay afloat and competitive:

Offer same-day delivery

Many consumers now expect speedy and complimentary shipping, making it crucial for smaller ecommerce brands to follow in the footsteps of larger competitors. According to a 2022 survey of enterprise retailers, 99 percent of participants aim to offer same-day delivery by 2025.

If you want to offer the same service to your customers, you must first assess its financial viability. Suppose you cannot afford this option. You can ask for an additional fee for customers seeking expedited orders instead.

Centralize data for improved customer experience

Improving customer experience can be an effective way to cultivate customer loyalty. For ecommerce businesses, developing a seamless and attractive customer journey that remains consistent across all touchpoints is essential. This tactic involves providing descriptive and accurate content through different channels. 

If you have product data across different systems or manage them on diverse platforms, your business may experience a loss of visibility. This data fragmentation can lead to a negative customer experience. Remember that discrepancies can leave customers frustrated and may push them to switch to a competitor.

To prevent this issue, you must streamline your tech infrastructure so that all feeds and platforms display consistent and updated information.

Try multichannel selling

Concentrating all your sales efforts on a single channel may not be beneficial for your ecommerce brand. Relying solely on a single platform leaves your store vulnerable to issues like a downed website or inoperable account problems. This issue disrupts operations and negatively impacts your customers’ shopping experience.

Moreover, committing to a single marketplace partner means you might overlook the opportunity to reach new customers. You must use multiple sales channels to get the most out of your strategy.

Create enticing product pages

The success of any ecommerce brand relies heavily on having an exceptional product that addresses a market need, preferably within a niche. However, having an effective product alone may not be enough. You must also effectively convey its advantages, uniqueness, and value to consumers.

If your product pages leave your audience confused or unimpressed, they will unlikely make a purchase. This statement highlights the importance of creating enticing product pages.

Remember that simplicity, cleanliness, and detail are the keys to an effective product page. The process of developing good product pages involves the use of the following elements:

• High-quality photos showcasing the product from various angles, 

• Concise and engaging titles

• Detailed descriptions

• Product dimensions

• Reviews from previous customers that offer insights into their experiences 

Additional elements like size charts and material details may be beneficial depending on your industry. Including every aspect that makes your product stand out will captivate prospective buyers. Moreover, a detailed page reduces the likelihood of returns and dissatisfied customers since they have a clear understanding of what they are buying. 

To prevent any issues, consider studying product pages from successful sellers in your industry to get valuable inspiration. When developing the pages, ensure that each product page is optimized for search engines. This step enhances your visibility on Google searches when consumers look up keywords relevant to your offerings.

Adopt innovative ecommerce practices

The best ecommerce entrepreneurs know it is time to move beyond conventional ecommerce practices. To stay competitive, you must adapt to the intricacies of today's ecommerce landscape and use modern technologies to enhance customer experience (CX) and foster brand loyalty.

Given the constant emergence of new technologies, your business must be flexible enough to ride the latest trends that will lead to increased profitability.

Practicing innovative e-commerce entails understanding your customers' preferred platforms and being ready to engage with them where they are active. It is also about understanding their ever-changing needs. 

For example, now that most people use their phones and laptops to make purchases, you must ensure your site is secure to protect valuable customer data from malicious actors. In response, you can establish a cybersecurity compliance framework to ensure operations align with data and security regulations.

Being innovative is not only about staying ahead of the curve. It is also about responding swiftly before the next trend emerges.

Provide personalized customer benefits

One effective sales strategy that worked on Amazon is providing personalized benefits to customers. Signing up to Amazon Prime provides members with a wide range of perks, such as free shipping and access to streaming services.

Consider offering loyalty perks that will make your company stand out. This tactic will encourage customers to buy your products and establish personalized relationships with them. For example, if you sell chairs for seniors, you can offer discounts to older adults practicing independent senior living.

Elevate Your Ecommerce Strategy and Keep Up With the Competition

New ecommerce businesses are struggling to compete with the more prominent names within the industry. However, it does not have to be that way. If you have the right mindset and strategy, you can not only coexist with ecommerce giants. You can even keep your business profitable.

You will need a solid ecommerce strategy that will improve customer experience, personalizing what you provide to your customers. You should also stay consistent and respond accordingly to emerging trends. This mindset can get you what you need to keep up with your biggest competitors.