7 New Year’s Resolutions for E-commerce Stores

By setting New Year’s resolutions for your e-commerce store, you can help improve business practices, customer satisfaction, and your bottom line.

As we quickly approach a new year, now is a great time to set defined goals and consider resolutions to make 2024 the best year for your online store yet.

Whether you wish to focus on customer engagement, sustainability goals, or streamlining your accounts, your New Year’s resolutions should be engaging and achievable to encourage action throughout the year.

The blog will mention seven New Year’s resolutions ideas for e-commerce business owners to consider for 2024.

Know your customers

Getting to know your customers can be a powerful tool for online sellers. By understanding your customers better and deepening customer relationships, you can provide enhanced customer support and a personalised customer experience.

This further allows you to provide recommendations and benefit from implementing personalised marketing strategies to appeal to and engage your audience.

Use less packaging

Sustainability and sustainable business practices should be a key consideration for all online store owners in 2024. By using less packaging and sustainable and eco-friendly alternatives, your store can help to combat plastic waste, one of the biggest causes of today’s environmental issues.

Additionally, by implementing sustainable practices you can communicate your commitment to reduce waste and inefficiency to attract environmentally conscious consumers.

Optimise for mobile

More than half of online purchases are made via a mobile device so it’s important that your e-commerce store is optimised for mobile browsing. Traditionally, online purchases have been made via desktop, but thanks to younger generations mobile shopping has soared in popularity.

You can optimise your e-commerce storefront and checkout for mobile purchases by accepting mobile payments, investing in SMS and mobile marketing, and prioritising a mobile-first design and approach.

Streamline the checkout process

If next year you are looking to combat cart abandonment and for ways to encourage customers to follow through with purchases, streamlining your checkout process will surely help. Cart abandonment is one of the biggest challenges e-commerce store owners face, but there are many ways to improve the checkout experience to increase conversions.

For instance, you can make checkout convenient for customers by offering multiple payment options such as mobile wallets and buy now pay later schemes. Another great way to appeal to consumers is by simplifying checkout. Look to see where you can reduce the number of form fields, enable smart form filling, and allow guest checkout.

Analyse your data

By analysing your data from the previous year can provide you with important insights to identify trends and areas for improvement. You can then use this data to make informed business decisions to drive growth.

If you sell via an online e-commerce platform, such as Etsy or Amazon, you can do this by accessing built in tools such as metrics overview and shop stats.

Research new trends

Trends are always developing and evolving so it is important to identify new trends for the upcoming year to get ahead of competitors. Top e-commerce trends can include ways to optimise inventory, marketing material, and customer engagement to incentivise customer to keep coming back.

Access the latest trends and industry innovations by keeping up with competitors, social media, and analysing customer data.

Get an e-commerce accountant

In 2024, if you’re goal is to streamline your store accounts it’s a great idea to evaluate your current processes and reach out to an e-commerce accountant. This will ensure your store is compliant with tax laws, avoids late submission penalties, and accurately reports financial earnings through the year.

Additionally, an e-commerce accountant can help to optimise cash flow management, cost savings, and deal with complex transactions such as international sales and multicurrency payments to support growth and global expansion.

Why choose Unicorn Accounting?

Ensure you keep on top of your finances and tax obligations by outsourcing to an accountant. This means that you don’t need to worry about your end of year accounts, payroll, or bookkeeping requirements.

At Unicorn Accounting we are e-commerce accountants who help make your online business a growing success. We offer e-commerce accounting advice, financial management, bookkeeping, cash flow statement, and tax filing services to support and scale your business.

Our team of accountants and Xero-certified advisors have experience working with both small start-ups and family-run online stores to large-scale, international retail and e-commerce brands.

If you’ve got an online store, we have the best solution for you. Providing you with a financial arm to your business through our sector experience, and skills with innovative technologies. To see how we can help you maximise the scalability of your e-commerce brand all year round, get in touch with Unicorn Accounting today. Or click here to get a free quote.

Related articles

https://unicornaccounting.co.uk/blog/what-is-the-future-of-e-commerce/

https://unicornaccounting.co.uk/blog/why-you-need-an-ecommerce-accountant/

https://unicornaccounting.co.uk/blog/5-tips-to-scale-your-ecommerce-business-in-2023/