{"id":7165,"date":"2021-11-16T07:44:34","date_gmt":"2021-11-16T07:44:34","guid":{"rendered":"https:\/\/invoice.ng\/blog\/?p=7165"},"modified":"2023-01-07T22:03:06","modified_gmt":"2023-01-07T22:03:06","slug":"6-ecommerce-business-strategies-learn-leading-ecommerce-tycoons","status":"publish","type":"post","link":"https:\/\/invoice.ng\/blog\/6-ecommerce-business-strategies-learn-leading-ecommerce-tycoons\/","title":{"rendered":"6 eCommerce Business Strategies to Learn from Leading eCommerce Tycoons"},"content":{"rendered":"

The majority of the global customer base today is shopping online. Retail eCommerce sales <\/span>grew 27.6% worldwide<\/span><\/a> to be worth $4.28 trillion in 2020. eCommerce business is undoubtedly a vast domain where there is always something new to learn. With that in mind, taking a look at the journey and eCommerce business strategies of some of the biggest eCommerce business tycoons is one of the best ways to imbibe valuable lessons. <\/span><\/p>\n

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While every company undergoes a learning curve in running an online store, some of these tycoons have walked the treacherous path and built the best eCommerce companies in the world. These strategies can help you weather any kind of storm in this fast-growing industry.<\/p>\n

1. Customer Obsession – Jeff Bezos (Amazon)<\/h2>\n

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Amazon has dominated the eCommerce business landscape for quite a while now. The success of this eCommerce giant boils down to establishing and adhering to core values since inception. Jeff Bezos launched the company in 1995, intending to be <\/span>Earth\u2019s most customer-centric company<\/span><\/a> \u2014 a principle that the brand has followed rigorously to date.<\/span><\/p>\n

The result?<\/p>\n

Amazon maintains a consistent <\/span>90% customer retention rate<\/span><\/a> through tailor-made user experiences. Bezos obsesses over satisfying his customers beyond the textbook definition. You can use this strategy by putting the complete focus on your customers and building backwards. One such way is to be inventive about the benefits and products that you offer to your customers. <\/span><\/p>\n

2. Prioritize Company Culture – Tony Hsieh (Zappos)<\/h2>\n

Hsieh built a strong brand over a long period. He focused on establishing the right culture throughout <\/span>the journey<\/span><\/a>, which emphasized always hiring the right people. During the hiring process, the company goes to great lengths to ensure that the candidates are the right fit not just by their qualifications but also culturally. <\/span><\/p>\n

It is that simple. Hsieh figured out that people;<\/p>\n