Internet shopping can be successful and safe
Digital age hasn't only changed our shopping habits, but it has greatly influenced the berz approach of sellers to the sales. Today, it is impossible for one business to doesn't have its online presence on online channels, be it a web page, social media, or a blog.
The number of Internet users and potential customers that buy products and services is growing. The content, i.e. the service that we offer, if it has a good quality, will be rewarded with loyalty and regular purchases.
In this article we will share the results of the internal analysis of the OLX.ba company, which are clear indicators that the e-commerce market in Bosnia and Herzegovina is significantly growing from year to year. In addition to that, from our point of view and waz of doing business, we will elaborate and approach in more detail what factors affect the improvement of business and increase online sales. Being present is not enough in itself, but keeping up with world trends and adapting them to the local market is a very good recipe for success.
“Don't assume it all works!
Put yourself in your customer's shoes and do everything they will do.”
Even though there are several different assumptions, the most common is that the first online sale was documented on Amazon in 1995- when the book was purchased.
26 years later , online shopping has not only revolutionized retail, but has made everyday life easier for “modern” customers. Bosnia and Herzegovina does not lag behind world trends and today it is possible to buy almost everything online, or as we at OLX like to say - from a needle to a locomotive. From the current 4,163,787 items in 2100 categories on OLX.ba, both buyers and sellers benefit - it is easy for buyers to find a certain item, and the availability of a large number of buyers on the platform itself facilitates sales to sellers.
In support of positive growth of online sales in our country shows the fact that in March of 2021 the number of active sales on OLX.ba was 36% compared to the same periodof last year.
Of that, 40.72% is accounted for by items marked as new, while 59.3% are used items.
This data in itself may seem unrepresentative, but if we take into account the fact that in 2020 the percentage of new items was 35.5%, we can see the YoY trend (Year on Year) growth in this segment as well.
In a more extensive survey
we did in June last year among our buyers and sellers on the topic of buying habits of OLX.ba users during the COVID-19 pandemic, we came to the data that more than 40% of sellers in the past year browsed new products on the OLX platform
, which is a clear indicator that the OLX community, ie sellers in Bosnia and Herzegovina is characterized by speed, creativity and direct contact with customers.
In the same research, we found that the pandemic crisis has greatly affected the change in customer habits, given that almost a third of customers bought online more than usual, almost half of customers thought that in the future they will buy online more than before, and more than thirds will buy and pay online more than before.
It is clear that there are customers more fond of buying online, and that this segment is growing, as there are (and will be) those who will find it difficult to decide to buy online. However, based on these and the following data, one can reliably expect an increase in consumption through digital channels: almost half of customers bought a new type of product in the past year that they did not buy online before.
The COVID-19 pandemic certainly accelerated the digitization process and retailers saw a solution in launching their e-shops to survive, and shoppers to buy online products from stores were closed due to prescribed hygienic-epidemiological measures, or for fear of infection. What was needed now has actually become a habit.
What influences the growth of online sales?
By coming to OLX.ba, and it can be applied to any other sales website, the buyers are already in the mature phase of purchase. However - the question arises - We have brought a customer, what now?
Dotmetrics data for March 2021 show that on OLX as many as 37,515,716 page views were created for customers who came to the site with a purpose - Online shopping (for comparison, 151,691,708 was the total number of pageviews in a given month).
At that moment, the customer needs to be offered a "simple" solution of its needs- whether it is about purchasing a new phone, clothes, shoes...
Two things that no online shop can do without: item billing and delivery. Their integration will not only boost sales but will have a long-term impact on customer satisfaction who, if satisfied with the service provided, will gladly return again
When it comes to OLX.ba, the number of realized deliveries also recorded a huge increase and in March 2021 it was higher by 89% compared to the same period last year.
On the other hand, when it comes to the online payment, OLX.ba as an intermediary in the purchase and sale, does not have a card payment enabled for goods and services, but has the stated possibility to pay the Shop subscription. In March 2021, as many as 373% more shops decided to make a card payment compared to the same period last year, while the increase in the ratio of card payments to the total number of payments in just one year increased from about 5% to about 17%.
Also, a recent survey of Visa companies shows that almost a quarter of the consumers in Bosnia and Herzegovina use their smartphone for paying and doing transactions, while 48% of all respondents plan to use that option in the future.
The segment of delivery of goods and online payments in the near future will certainly experience an even greater boom, because online sales are simply unthinkable without these two segments.
With the daily growth of active users on OLX.ba, the presence of an increasing number of professional profiles, well-known brands on OLX.ba, the amount of deliveries and listing of new items, we can see that the online channel is becoming increasingly recognized when it comes to sales.
There are many advantages of e-commerce , and they are certainly most reflected in lower business costs, greater and faster reach of potential customers, faster ability to create actions, as well as easy measurability of results.
With the advancement of technology and changes in customer behavior, online sales trends are also changing, so the process of optimization, research, competition, analysis of global trends and the local market almost never ends.
Digitalization and availability of information has led to our customers changing their shopping habits more often and faster, and it is up to us to find our way to them through innovation and solving their needs.
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Social Media & Content Manager, OLX BiH
OLX BiH je dio vodeće svjetske platforme za objavu oglasa o kupoprodaji koja služi lokalnim zajednicama s potencijalom rasta online trgovine.