In 2020, many brands and retailers have taken advantage of the trend to open online stores. Others have listed themselves on mega shopping platforms as a means to put their products on the market and expand their online sales channels.
WhatsApp has officially launched its WhatsApp carts shopping feature to have another look at online retail, Facebook Shop, and Instagram Shop. E-commerce has shifted from “Should we do it, and how to go about doing it?” to “A must-do! Why hasn’t it been done yet?” Brands have to start turning their attention to social commerce and deploying even more strategic online retail marketing and business strategies.
Browse – But Not Sell Yet – On WhatsApp
WhatsApp revealed its conversation-like shopping feature in the middle of the year, which can be regarded as a supporting function to Facebook and Instagram Shops. If customers wish to contact a store when shopping online, they can use Whatsapp. They can also select their purchases and make payments. This is the most ideal customer journey.
But don’t get your expectations up too high just yet. WhatsApp Carts that has been launched is undeniably a shopping cart, and you are welcome to “look and choose what you want”, but there is no form of payment collection yet. There are still too many twists and turns in including a payment function in WhatsApp. Dear Hong Kong retail owners, tap the potential of possibly reaching every corner in the world by putting out your products in the international online space to expand your prospective customer base.
Set Up an Online Store Using a WhatsApp Business Account
To add WhatsApp’s Cart feature to your online store, the designated WhatsApp account must be set as a WhatsApp business account and updated to the latest WhatsApp version. Then, in the Business Tools under Settings, you will find the Catalog. This allows merchants to upload product photos, names, prices, and other details. The best part is that you can add your website address which can be viewed on WhatsApp. If there is something that customers fancy, they can be directed to your store website listed through WhatsApp to complete their purchase and make payment.
The Psychological Warfare of Online Retail Marketing
Social commerce, which harnesses social media networking, is a growing trend. Live interaction and UGC (User Generated Content) are also known to greatly promote online sales. Simply opening an online store with traditional user-directed advertising can only be called basic at best. To successfully sell on social media, human interaction must be considered. Marketing psychology will also come in useful, such as the 3-tier pricing strategy, Fear of Missing Out (FOMO), Upsell & Downsell, and lead nurturing of potential customers. Retail marketers, don’t sit back contentedly waiting for customers to come now that you’ve gone online. Devise a comprehensive online retail marketing plan and execute it as soon as possible.
Original Source: https://www.visiongo.hsbc.com.hk/zh-HK/article/you-can-now-shop-on-whatsapp-in-the-era-of-social-commerce