In the third part of this series, we covered the hurdles in creating and using Email Shops. We also spoke about how Email Shops could be popularized and explored their business potential. This part discusses current and future competition for Email Shops. We will also look at the potential early adopters of, and the pricing strategies for Email Shops.
Current And Future Competition for Email Shops
Current and future competitors for Email Shops can be split into two categories, competing technologies and competing marketing channels. Let’s consider each, starting with competing technologies.
- Progressive Web Apps (PWAs): Progressive Web Apps are applications delivering app-like experiences on mobile devices. WPAs offer offline capabilities and quick loading times. They also provide a seamless shopping experience, like Email Shops. However, they have an added advantage as they can be accessible from any web browser.
- Mobile apps: eCommerce brands invest heavily in developing native mobile apps. These offer a highly personalized and feature-rich shopping experience. Mobile apps include loyalty programs, push notifications, and location-based offers that can compete with Email Shops for customer engagement.
- Chatbots and messaging apps: eCommerce brands are also exploring chatbots and messaging apps for customer engagement and shopping. These can offer a conversational eCommerce experience, answering queries, providing product recommendations, and completing purchases.
Competing market channels
- Social media platforms: Facebook, Instagram, and Pinterest offer ‘shoppable’ posts and advertising solutions. These allow users to discover and purchase products without leaving the platform. Such channels can compete with Email Shops for customer attention and engagement.
- Influencer marketing: Brands partner with influencers to promote their services and products. Such partnerships allow brands to leverage the influencers’ audience and drive sales. Influencer marketing could become an alternative to Email Shops, especially when reaching out to younger, more socially-engaged audiences.
- Content marketing and SEO: eCommerce brands also invest in content marketing and SEO to attract and engage customers organically. Brands can create informative and engaging content to build trust and drive sales without relying on Email Shops.
- Video marketing and live streaming: YouTube and TikTok allow brands to showcase products through video and live streams. This creates an interactive and engaging shopping experience. These channels can compete with Email Shops for customer attention and conversions.
Competition for Email Shops will primarily depend on evolving and adopting competing technologies and marketing channels. Email Shops offer a unique and innovative approach to eCommerce. However, their success hinges on overcoming technical challenges, compatibility across email clients, and differentiating themselves from other shopping experiences. Email Shops can create a niche in the evolving eCommerce landscape by staying ahead of the competition and improving their offerings.
Early adopters of Email Shops
Next, I asked ChatGPT who would likely be the early adopters of Email Shops.
The likely early adopters of Email Shops can be categorized into two groups, industries and business types. Let’s look at each, starting with industries.
- Fashion and apparel: Fashion and apparel brands have large product catalogs and frequent promotions. This makes Email Shops an attractive solution to streamline the shopping experience and increase conversions.
- Consumer electronics: Companies that sell electronic gadgets and accessories can benefit immensely from Email Shops. Customers can explore product features, read reviews, and make informed decisions directly in their inboxes.
- Health and beauty: Health and beauty brands can leverage Email Shops to showcase their products and provide personalized recommendations. This would enable them to offer a seamless shopping experience to customers looking for skincare, wellness, and makeup products.
- Subscription services: Businesses offering subscription services can use Email Shops to simplify the sign-up process. Customers could customize their subscriptions and manage their preferences directly from their email.
- Home goods and decor: Brands selling home goods such as furniture and decor items can ensure a seamless browsing and purchasing experience through Email Shops. This would enable customers to explore and visualize products before making a purchase.
- Small and medium-sized businesses (SMBs): Small and medium-sized businesses that do not have a robust online presence or mobile app can benefit from the convenience offered by Email Shops.
- Niche eCommerce brands: eCommerce brands that cater to a specific niche or specialized product categories can leverage Email Shops. Leveraging Email Shops would allow these brands to provide a personalized shopping experience for their target audience.
- Direct-to-consumer (D2C) brands: D2C brands that rely on email marketing and customer engagement can use Email Shops to enhance the customer journey and drive higher conversions.
- Online-first retailers: Retailers primarily operating online have a customer base already familiarized with digital shopping. These businesses can quickly adopt and benefit from Email Shops.
Email Shops will attract early adopters due to several reasons. These include increased customer engagement, higher conversion rates, improved customer retention, and enhanced shopping experiences.
Email Shops Pricing
How can I price Email Shops for businesses?
Pricing of Email Shops can be approached in several ways. These would depend on target customers, value provided, and competition. Let’s look at some pricing strategies you could consider.
- Freemium model: The freemium model allows a free version of Email Shops with limited features to attract businesses. As users see the value and benefits of Email Shops, they can upgrade to paid plans that offer advanced features and capabilities.
- Tiered pricing: Pricing tiers can be created based on features, level of customization, and number of email subscribers. Such an approach would allow businesses to choose the plan that best suits their budget and requirements.
- Pay-per-use model: Businesses can be charged based on their usage of Email Shops. This means they would be charged based on the number of emails sent or revenue generated through Email Shops. Such a pricing model would attract businesses by directly correlating their expenses with their success using Email Shops.
- Flat Fee: A flat monthly or annual fee for Email Shops that includes specific features and capabilities. The flat-fee model simplifies pricing and would appeal to businesses that prefer predictable costs.
- Custom Pricing: Custom pricing plans can be developed for larger businesses and enterprises with unique requirements. This approach lets you tailor solutions and pricing to each customer’s needs, giving them the most value from the offering.
- Value-based pricing: The price of the Email Shops solution can be determined by the value it provides businesses, such as increased conversion rates, reduced customer acquisition costs, and improved customer retention. The value-based pricing model can also help businesses understand the expected return on investment by using Email Shops.
- Bundling with other services: The Email Shops solution can be bundled with other products and services. This allows you to offer a comprehensive package to businesses at a discounted rate.
When determining the pricing strategy for Email Shops, you must research the competitive landscape and understand the expectations of your target audience. You must also ensure that the pricing reflects the value provided by Email Shops while remaining competitive and accessible to businesses with different budgets.
Continued in Part 5…