The rapid growth in eCommerce in the past several years has led to some unprecedented challenges that e-retailers had not faced before. The barrier to entry in the eCommerce space has become significantly low—thanks to the myriad of eCommerce enablement platforms like Amazon, Shopify, BigCommerce, WooCommerce, and Magento making it easy for people to start their own eCommerce business.
This has in turn made eCommerce one of the most competitive business landscapes across the globe. As an example, the cost of customer acquisition in eCommerce is very high while the conversion rate on eCommerce is one of the highest across all industries.
The proliferation of new eCommerce websites also means online stores have to invest more time and money in improving their marketing and increasing sales. To grow steadily, eCommerce sites have to maintain a healthy presence across many channels like desktop, mobile, social media channels, and even offline locations in the form of pop-up shops.