We are now in 2018, this year alone their are now more than ever people browsing the internet and spending money on products/services.

– Ecommerce
Depending on your type of business and what it does, going digital needs to be overlooked because they could be a whole new spectrum of customers/clients willing to use your service or purchase your products. Any business that sells products nationally or multi-nationally or offers a service outside of their local area. For example, if your business has a brilliant reputation offline, having an online platform can have a massive impact for your business. The loyal customers you have already acquired offline can be converted to your online platform while building up your reputation online.

– Here’s Why
Theirs no better place to be right now than have an online platform were you can gain prospects, customers and sales if your business sells or offers a service and is looking to grow it’s client or customer base.

How times have changed – Toys ‘R’ Us

Here’s a story about a company which was at the forefront of the market for selling children’s toy’s but never made the transition to go digital. One of the biggest, if not the most popular retailers around for children’s entertainment went into liquidation – Toys ‘R’ Us –

But why?
You could blame the crippling debt of Toys ‘R’ Us downfall, but a refusal to embrace the changing retail marketplace caused a huge impact. While toy-selling competitors such as Walmart in the US and Amazon go from strength to strength online, Toys R Us was struggling with an outdated website and flailing customer loyalty.

According to data from Ecommercedb.com, Amazon sold $2.16 billion USD of toys and baby items in 2016. Walmart, the largest toy store in the US, claimed the second spot online with nearly $1.3 billion. Toys R Us sold just $912 million online in the same period.

This is the official filing statement of Toy ‘R’ Us

“Online retailers such as Amazon are not concerned with making a profit at this juncture, rendering their pricing model impossible to compete with…. To compete, Toys ‘R’ Us would have needed to slash prices on the same toys to keep traffic coming into its stores, decreasing its revenue and cash flows in an unrelenting race to the bottom. But Toys did not engage in this race to the bottom. The Company does not have supplemental departments and revenue streams from which to make up for the lost margin on selling, as do Walmart, Target, and Amazon, among others”
Toys R Us shows what late adoption of an enhanced online shopping experience can do – by May 2016, at a time when their competitors were selling toys hand over fist – albeit at heavily discounted prices – the company was still stuck trying to revamp its website. The plan was to shrink the checkout from 5+ clicks to 2 however a quick check of the existing US website shows it not only is still clunky, but there are a number of other issues that are not in line with 2017 online shopper expectations:
• Lack of free shipping (only available when shoppers spend $29USD or more)
• Sales tax not included until entering payment details
• Same items available on Amazon for $3 cheaper or more

Lance Wills, Toys R Us’ first global chief technology officer, put it best when he admitted, “In a year to two years, we have to catch up on 10 years of innovation”.
Toys R Us has promised to focus on improving the customer experience in their “physical stores and online, and strengthen [their] competitive position in an increasingly challenging and rapidly changing retail marketplace”.

This statement was made a little over a few years ago, unfortunately for Toys ‘R’ Us it was too little, too late.

P. S – As a young child i used to love going to toys ‘r’ us to be surrounded by toys, see what was new and have a fun time but as time change companies need to innovate to be the best. I can’t comprehend how many children have had a great experience walking into a toys r us store afterall, however it sure is a very sad story to see Toys ‘R’ Us go into liquidation. – xxxx

What can we learn from this?

Digital Era Insight: Every aspect of the end-to-end shopping journey needs to be enhanced in order to remove each and every roadblock standing between you and your customer. To build a brand in international markets, retailers need to place a relentless focus on improving the shopper experience. Failure to do so could be catastrophic for a brand, regardless of size and years in business.  

If you don’t stay with the times, don’t expect results, it’s as simple as that. For ecommerce success, you need to be consistently up to date with the changes happening and acquiring your business with the right tools to help your ecommerce strategy become successful.

Learn more from us on digital transformation – CTA – We don’t just build ecommerce websites and develop strategies – we can audit your current ecommerce website and consult you on how it can be improved with the solutions we offer.

View more – Solutions