Three key aspects of Composable Commerce
When your company grows, the only certainty in e-commerce is that you will have to change, adapt, and evolve your platforms and infrastructures without compromising the customer experience. Following a Composable Commerce approach will help you with this challenge.
With an e-commerce boom in Chile, where retail tripled its online sales during the first quarter of 2021, with the percentage of users who make purchases through digital platforms reaching 61%, now more than ever, it is worth considering this great opportunity poses significant challenges.
Competitors: one click and loading seconds away
Consider that the competition is fierce, and users browse various stores at the same time. It is just a matter of opening a few tabs in the browser to find the same product across multiple e-commerce sites.
It is no longer just about comparing the price (which is sometimes not the decisive variable), but about browsing quickly and finding the product or service required easily. Let's look at some figures:
- Almost 70% of consumers admit that a site's speed impacts their willingness to buy from that retailer.
- The first five loading seconds of a site have the most significant impact on conversions.
- It is expected that in 2021 more than 50% of retail sales in the US will be conducted on smartphones.
In this way, if the site loads fast enough, has good mobile browsing, and meets the basic parameters, there's an opportunity for the user to reach the checkout process and make the transaction.
On the other side, if the platform does not have a good search engine, has a complex purchase process, and the user struggles to find what he needs, valuable sales opportunities will be lost. With a high probability, he will end the journey on one of your competitors.
Suppose the previous lousy experience results from projects and developments with a very complex execution or "saved for later." In that case, it is probably time to think about the approach proposed by Composable Commerce.
The best components to obtain more conversions
Imagine a "modular composition" for online sales, where you could add the best solutions available for each point of contact or process of your digital store. As the business evolves, it will be possible to:
- Improve search results using artificial intelligence, as proposed by Algolia.
- Add customer reviews with Bazaar Voice.
- Optimize the checkout process by including micro-solutions from expert providers in various elements, such as Elastic Path.
That is what Composable Commerce is all about: promoting e-commerce with the best possible services for each of its parts. All the above with a clear purpose: to provide a better experience and therefore achieve customer preference and greater long-term profitability.
An infrastructure that can be rebuilt without complications
Under this approach, the idea is to develop a platform that is not "bound" to a system, considering an infrastructure that can quickly evolve using modular services. There are at least three key aspects:
- Develop platforms that meet specific requirements
- Include modular components
- Plan a targeted investment
The idea is for systems to be flexible and designed to meet the needs of the specific moment. If an additional module is later required to be added, then it must be easy to do. In this sense, following a headless approach is necessary to prepare for this "block-type" improvement process. As the business evolves, you can add solutions for specific requirements and in various combinations.
Gone is the idea of finding a do-it-all kind of software or internally absorbing the daunting task of improving every aspect of an e-commerce. Why do that if specialized providers can provide their services under a "Plug & Play" scheme? That is, you can easily integrate and deploy the component independently and as interoperable. Find the best modules and create a unique experience for your customers.
In dynamic and highly competitive environments, the challenge is for your platform to scale with your business growth. Therefore, in line with an omnichannel strategy, the platform must progress gradually, sequentially including the modules needed according to its growth and consumer needs. Plan an investment aimed at improving priority aspects, integrating the suitable modules at the right time.
Composable Commerce & Omnichannel
When a business progresses in deploying its omnichannel strategy and is focused on improving its customer experience, it is critical to make the right decisions and only include the features needed by your customers and staff, creating a customized and change-flexible platform.
At Reign, we know about the relationship between Headless Commerce and omnichannel; that is why we are partners with the best component providers, and we will support you on the challenging path of executing your strategy. Together, we will seek to transform your e-commerce into a fast, secure and straightforward experience, ready to evolve and grow without limits.