5 things small businesses need to gain and maintain customers

Customers shifted to online shopping in a big way during the pandemic. Today, even as we have returned to in-person shopping, e-commerce continues to boom. 

The Asia Pacific, Middle East, and Africa (AMEA) market is powering this boom in a big way – with predictions of growing up to 60.2% of the global e-commerce market by 2025. 

Small businesses are increasingly beginning to take advantage of this boom by tapping into the digital shifts in shopper behaviour. But to truly compete in the world of online shopping, they have to navigate logistical challenges – from inventory management to customer support. How can a growing business prepare to meet the evolving demands of today’s online shopper? 

The good news is that by leveraging a few digital tools and technologies, a business today can embrace ‘smart e-commerce’.

Small business to smart business with new technologies

Today, smart technologies are no longer only accessible to large enterprises. Cloud-based subscription models are making these available to small businesses and start-ups, and levelling the playing field. And by only paying for what they consume, businesses can leverage these tools cost-effectively. Let’s look at four technologies that are enabling small businesses to embrace e-commerce:

1. Internet of Things (IoT)

One of the biggest advantages of IoT is the real-time monitoring and tracking capabilities it can enable for businesses. Visibility into last-mile deliveries can make them more efficient and reduce mistakes helping improve the customer experience. 

In today’s world of uncertainty and supply chain disruption, a business needs to look at ways to minimise risk. IoT can enable a business to optimise inventory management, supply chain logistics, and improve operational efficiency. This can help reduce business costs and save time.

2. Autonomous vehicles and robots

Self-driving vehicles, drones and robots can efficiently navigate through traffic and deliver packages directly to customers' doorsteps. This can reduce delivery times, enabling small businesses to offer faster and more reliable shipping options.

In the last few years, contactless delivery has become increasingly important for online shoppers. Autonomous vehicles and robots can help facilitate this experience by dropping off packages without any physical interaction with customers. This can help meet their health and safety expectations.

3. Big data

Big data analytics enabled by the use of GPS and RFID allows small businesses to track their shipments in real time. Combining this data with information on customs clearance and border wait times can help identify potential delays, and take proactive measures to manage them. 

Small businesses can also use predictive analytics to anticipate any compliance issues and delays. This can help them prepare the necessary documentation in advance to navigate the clearance process, and thus reduce the risk of costly delays and penalties.

4. Artificial Intelligence (AI)

5G technology enables fast and reliable data transmission from various sources such as GPS trackers, IoT sensors, and traffic cameras. This data can help track vehicle movements, route conditions, weather patterns, and traffic congestion. And by combining AI and machine learning algorithms with this real-time data, small businesses can develop predictive models to forecast logistical delays. 

By continuously learning from new data, these models can enable businesses to more accurately anticipate and prevent delays before they occur.

5. Tracing technology

Tracing technology allows a business to monitor the movement of its products instantaneously through the supply chain. By integrating tracking devices or sensors into packaging or shipping containers, businesses can collect data on the location, status, and condition of their deliveries.

This real-time visibility enables them to provide customers with accurate updates on the status of their deliveries thereby building trust.

Getting started with digital technologies

A growing business in its early stages may need to evaluate the right technologies to invest in at the right time. To help a business get started on its e-commerce journey, FedEx provides a number of digital tools to enable global shipping. 

This can enable a business to accelerate its growth journey and build the right foundation to embrace smart e-commerce technologies.

Discover more tools and guidance to grow your small business internationally on the FedEx Small Business Center.