Growth loops: How to win the $5.6 trillion digital commerce market
E-commerce and m-commerce are hard.
Retail in general is challenging, and digital commerce has both giant international competitors like Amazon and Alibaba. Plus, there are hugely successful direct-to-consumer startups like Dollar Shave Club (now owned by Unilever), Casper in the mattress industry, Allbirds in shoes, and Bonobos in clothing.
So how do you scale profitable growth?
Assuming you’ve got the product and the brand that will support success, marketing makes the difference. And given the cost of acquiring first-time customers, your ability to create self-sustaining growth loops of acquisition, engagement, retention, and re-engagement is critical to long-term growth.
In digital commerce, all of that depends on tools.
We’re talking about growth loops, digital commerce success, and the right tools in a new report, Growth Loops and Scaling Profitable Growth.
Digital commerce: plenty of room to grow
Despite all the recent growth in e-commerce, there’s still a lot of room to grow.
Only 10.2% of total retail sales quality as e-commerce, according to the Census Bureau of the U.S. Department of Commerce. That 10% totaled $1.34 billion in Q1 this year, and while that number was up 12.4% from the first quarter of 2018, there’s clearly still a huge amount of growing room.
Literally huge: 90% of the retail economy is the blue ocean for growth.
And while it’s true that the entire retail economy is unlikely to ever be 100% transacted via e- or m-commerce, massive swaths of it will be. Getting your share of that is the current challenge. Growth loops can help.
Build your success: get the report today
- Build the e-commerce success loop
- Build the right creative
- Use technology to optimize click-through, conversions, and profit
- Re-target specific audiences
- How to re-engage users and/or customers
- And much, much more … all while you’re building your digital commerce success