Thanksgiving is just around the corner and eCommerce entrepreneurs are putting their right foot forward to garner more sales and generate revenue. Are you geared up for the biggest retail shopping time of the year? Are your Thanksgiving week promotions and marketing campaigns in place? Have you tailored your marketing ideas to gain an edge over your peers?
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Within the next twenty years (2040), eCommerce will account for 95% of all retail purchases.
Sounds like a big leap?
It isn’t!
People are continuously going for online shopping. The digital buyer count keeps moving upwards, from 1.14 billion in 2014 to a predicted 2.14 billion by 2021. And, we already have 24 million online stores (approx.) across the internet at present.
As a prudent eCommerce seller, you surely do not want to waste time in manually tracking how many units of each product have been sold or whether orange colour jackets sell more in comparison to their white counterpart!
More and more retailers are these days making a transition from brick-and-mortar stores to eCommerce, viewing it as an effective extension to the physical store that enables them to expand customer base and increase profits without needing to invest in physical locations. However, online retailing doesn’t come without challenges, beginning with the right eCommerce platform.
The United States saw around 15.8 percent year-over-year increase in eCommerce sales in 2Q2014, compared to only 4.4 percent in overall retail sales, according to statistics from the U.S. Department of Commerce.
There is no secret about the buzz around “omni-channel” strategy in eCommerce today. However, looking back in time when you started selling through your web store it was not too hard as against selling across Amazon, eBay, Sears, Rakuten.com, Newegg and other emerging marketplaces in the present ultracompetitive environment. If, as an online seller, you knew about the challenges of eCommerce several mistakes could have been avoided.
Your eCommerce store is attractively-designed, holiday merchandise is set and the marketing campaign is on. Even as your sales are already picking up, is it too late to tweak your store to maximize conversions this holiday shopping season? Certainly, no! There are some quick-and-dirty tips that can help you squeeze dollars out of the holiday traffic.
It is crucial for eCommerce entrepreneurs to collate and manage data effectively as it helps in generating insights and spotting trends. For example, if you knew the reason behind the increasing number of shopping cart abandonments, you would certainly be able to find out a solution and subsequently, increase sales. Similarly, having accurate, up-to-date and well-managed product catalog helps customers in making buying decisions. For this, product data must be cleansed, normalized, standardized, and enriched at regular intervals.
The increased popularity of online shopping has encouraged brick-and-mortar store owners to set up their own eCommerce store and reach out to millions of customers across the world. For online merchants, product catalog is an important cornerstone that helps in creating information-rich experience, building interest among online shoppers and converting prospects into customers. Thus, it is essential for them to efficiently manage and regularly update their online catalogs that enlist all the products and provide all the required information to the visitors to help them make the right buying decision.
It is a part of your daily routine to add new products to your eCommerce store like putting few new sets of chairs in the furniture category or adding a new line of sweat shirts in the men’s section of the website. But now you are planning to launch a new category of baby care products wherein customers can find clothes, toys and books, kids’ furniture and a lot more. So, will you simply add the new category and let your customers find it themselves? Certainly, no! You have to go the extra mile to promote your new product line and attract the right set of customers to meet your sales target.
