Fulfillment of Nutrition and Wellness Products: Trends, Challenges and Tips to Ace Nutrition and Wellness Category Supply Chain Operations in 2022
Along with the growing awareness and utilization of the internet and eCommerce by customers to get access to the products and services they need in a speedy and hassle-free way, the demand for nutrition and wellness products to help people live healthier lifestyles is simultaneously increasing. This is coupled with the trend of more people gaining access to lifestyle amenities due to India becoming a more prosperous and wealthy country on a daily basis. As a result of this, customers have become less worried about scraping by and putting food on the table and are able to focus on more granular aspects of their lives, such as the well-being of themselves and their families. The expanding availability of nutrition and wellness products, especially through eCommerce, has made many consumers enthusiastic about purchasing them, as they do not need to visit a dedicated store. They can simply browse through all the available products and get all the information they need at their fingertips. In this blog, we take a deeper look into the fulfillment of nutrition and wellness products, trends in the industry, challenges faced by retailers, and 5 tips to improve fulfillment processes. What Constitutes the Fulfillment of Nutrition and Wellness Products? The conventional eCommerce processes that go into delivering nutrition and wellness products to the locations of relevant customers, such as picking, packing, shipping, and last-mile delivery, constitute the fulfillment of nutrition and wellness products. These products can be anything health or fitness-related such as herbal teas, protein shakes, diet supplements, grains, pulses, ayurvedic medicines and much more. They generally add value to a person’s daily routine by providing solutions to problems such as obesity, stress, weight gain, and high cholesterol, among others. [contactus_uth] Significant Trends in the eCommerce Growth of Nutrition and Wellness Products In a Mckinsey survey of 7,500 people across 7 countries, 79% of them agreed that wellness is important, while 49% indicated that it was a top priority for them.The global nutrition and wellness product market are currently valued at $1.5 trillion, with a growth rate between 5 to 10%, annually.The industry experienced an overall decline during the pandemic, with more people being inactive but demand has started experiencing a significant uptick since then.In a recent study, participants spent the majority of their income on healthcare and wellness products.Services, as opposed to products, account for 30% of nutrition and wellness-related purchases. 3 Unique Challenges That Sellers Face in the Fulfillment of Nutrition and Wellness Products Need for Specific Warehouse Facilities Nutrition and wellness products often have very specific storage requirements such as being stored at a certain temperature, being stored away from direct sunlight, being stored away from other grocery products due to risks of cross-contamination, and much more. This necessitates that fulfillment warehouses be equipped with specific features to safely and efficiently store so that they can successfully be shipped to customers without getting visually damaged or deformed. Greater Risk of Expiry and Damage On the same note as the first point, because wellness and nutrition products need specific facilities to prevent them from getting spoiled or damaged, their chances of premature expiry are generally higher compared to conventional eCommerce products. Moreover, since they are tailored toward improving the health and well-being of customers, there is a lower threshold for any deformities to occur as the product will not be salvageable and will have to be written off. In the event of an RTO, the package could risk getting damaged in transit due to the fact that it hasn’t been stored in the required conditions for a long period of time, which could not only increase the logistics costs but also result in the product cost being borne by the seller. Suggested Article: How to Handle RTO? Requirement for Specialised Packing In continuing with the theme of wellness and nutrition products being a lot more fragile than other categories, they require specialised packaging. This helps increase their lifecycle and prolong their shelf life and ultimately, their expiry. However, if you are a retailer that is aspiring to deal in these products, it is important to note that these packaging facilities, like the dedicated storage facilities, don’t come cheap. It is simply an additional step and cost to think about, that is unique to nutritional and wellness products. 5 Tips to Enhance the Fulfillment of Nutrition and Wellness Products Through a 3PL in 2022 Have Enhanced Inventory Management and Quality Control Source Wellness and nutrition products are subject to some of the most strict guidelines of any product category in relation to storage, shipping and delivery since the entire aim of them is to improve health and wellness among the people that buy them. Therefore, you need to implement enhanced quality-checking procedures and invest in an inventory management system to oversee your inventory compliance and identify when products are close to expiry or need to be replenished with fresh stocks. This will help you stay on top of the game and help customers view your brand as a legitimate option for the fulfillment centre of nutrition and wellness products. Related Article: Stock Replenishment Have Exceptional Product and Operations Management Source Management of important departments is a crucial aspect of any company, especially one that sells nutrition and wellness products as there can be a vast number of challenges and unforeseen circumstances that could occur. Competent management can offset the negative effects of such circumstances by providing solutions to problems and leadership to various teams around them. For instance, if there is a product recall of a major SKU that you sell due to manufacturing defects or safety hazards, you need proper management to take the appropriate steps in dealing with agitated customers that have already purchased it, ensure that all the defective stocks are rounded up and replenish the inventory with a close substitute and offer that to customers as a replacement. Implement Batch Tracking at the Warehouse Level Source Some important batch tracking methods are FEFO (First Expired, First Out), FIFO (First In, First Out) and LIFO (Last In, First Out), among others. In the case of wellness and nutrition products that have a greater risk of expiry and damage if they are not stored in the required conditions or are kept in storage for too long, it is best to use the FEFO method to mitigate any additional risks. This will ensure that the products with the closest expiry dates will be prioritized and fulfilled first. Offer Ultra-Fast Delivery Source A recent study concluded that 48% of eCommerce customers in India received their orders within 2 to 3 days of placing them, which is a major step up from just a few years ago. Fortunately for customers, this number is only slated to rise as ultra-fast 2-day, same-day and even 10-minute deliveries are taking precedence. eCommerce selling platforms like Amazon and Flipkart, along with 3PL fulfillment companies, are constantly seeking to out-pace each other in terms of order fulfillment and the parties that ultimately benefit our retailers and their customers. This is especially beneficial for the fulfillment of nutrition and wellness products as it is advisable not to keep them in transit for too long. Provide a Unique Unboxing Experience Source Wellness and nutrition products generally have great packaging that hits home the message of health and sustainability. Therefore, it is imperative that your brand also follows this trend in order to catch the eyes of customers, among a sea of other manufacturers that are also trying to jostle for their attention. You can use materials that maintain the lifecycle of your products while also promoting your brand and its message. This can easily be done through a 3PL company that has custom packaging facilities. You can also insert pamphlets, coupons and vouchers in your packaging to encourage customers to purchase from you again. Conclusion: Why is WareIQ a Good Option for the Fulfillment of Nutrition and Wellness Products? As the world becomes more health conscious, the demand for nutrition and wellness products will only keep increasing. People are seeking to live healthy, prosperous lives now, more than ever. As the global economy becomes wealthier as it recovers from the pandemic, the focus shifts from survival to personal well-being and that is exactly what is taking place. This is even more pronounced in a country like India, where more and more people are getting the capability to pursue luxuries that enhance their lifestyles. However, it is important to be aware of the specific features and costs that are unique to this category of products and plan accordingly. If you need specialised facilities that are associated with the fulfillment of nutrition and wellness products, WareIQ might be the perfect fit for you. WareIQ is one of India’s leading eCommerce fulfillment companies, trusted by a lot of brands in nutrition and wellness categories like Gynoveda, UTH Beverages, Lil' Goodness, Wingreens etc. We provide a vast array of eCommerce services from inventory storage to order delivery. Some of our unique services that could benefit your company if you sell wellness and nutrition products are listed below: Pan-India Network of Fulfillment Centers with Cold Storage & Temperature Controlled Warehouses We have fulfillment centers scattered across the entire country and each one is equipped with specialized SKU-specific facilities such as cold storage, temperature-controlled warehouses, specialised storage materials for fragile goods and much more. Additionally, we also provide hyper-local fulfillment through dark stores where inventory that needs to be fulfilled quickly can be stored and delivered to surrounding areas. Custom Packaging Facilities We provide customized packaging facilities as per the requirements of your business. You can choose to highlight your brand with your logo and designs of your choice, while also choosing materials that will secure your products, especially fragile ones such as wellness and nutrition products. Ultra-Fast Same-Day and Next-Day Delivery We have partnered with more than 20 of the best shipping aggregators in the country to ensure that your orders are always on time. We also automatically assign the quickest and most cost-effective option for every order. Custom WMS With Multiple Integrations Our custom WMS can integrate with multiple eCommerce selling platforms such as Amazon, Flipkart, eBay and more and can monitor, store and update your inventory and order data across all of them, in real-time. You will also have access to all your important data in one central dashboard. No Minimum Order Requirements We do not have any minimum order restrictions. You only pay for the services and facilities that you use so you can pick and choose what is important to you. Fulfillment of Nutrition and Wellness Products: FAQs What products would generally come under the nutrition and wellness category?A variety of products could be considered as nutrition and wellness products. A few examples are listed below:- Herbal teas- Body gels- Face creams- Protien powders- Ayurvedic medicines- Aloe vera products- Organice toothpastes- Minerals- Sunscreens- Disinfectants Why do nutrition and wellness products require special storage facilities?These products are often highly fragile and can expire if they are not stored in the proper conditions such as at the appropriate temperature, away from sunlight, on certain types of shelves, etc. Why do nutrition and wellness products require special packaging?Since nutrition and wellness products are often composed of organic and sustainable ingredients and materials, they require special packaging to prevent product damage and extent the product lifecycle. What are some good survey questions to help customers understand what type of products they need?Some good questions to ask your customers to understand their requirements are as follows:- What does your normal diet consist of?- What do you perceive as a healthy diet?- How often do you eat fruits and vegetables?- Are you currently taking any medication?- Do you currently have any health disorders? What services can WareIQ provide for sellers of wellness and nutrition products?WareIQ provides services such as customizable packaging where you can customize the design and materials used, specialised fulfillment centers that can store a variety of different products, dark stores that can enable hyper-fast delivery, same-day delivery services through a variety of shipping companies and much more.
October 06, 2022
New Feature Launch: WareIQ Control Tower
Is your operations team struggling with understanding the most common causes for NDRs? Do you wish to quickly know the degree of order delays and address it? Want to get a quick snapshot of pickups that have occurred across warehouses? Introducing WareIQ Control Tower: Enhancing Visibility into Operations through Intelligent Insights & Enabling Smarter Escalation Management Manage NDRs Efficiently Track KPIs such as NDR raised, re-attempt requested, canceled, delivered etc. through our NDR dashboardKnow the top 3 reasons for non-delivery of orders and take immediate actionGet order-level information for each order and address open NDRs in real-time Minimize Order Delays Across Couriers & Channels Track forward delivery delays and RTO delaysGet a segmented view of order delays and instantly address delays of more than 7 daysAccess order-level delay data for each order Track & Monitor Pickups Across Warehouses Easily Get a detailed summary of all the pickupsAssess courier partner and warehouse performanceKnow your best-performing courier partner easily Benefits With this new feature, eCommerce brands will enjoy the following benefits: Enhanced visibility by tracking NDRs, Order Delays and Pickups in real-timeIntelligent insights to enable quick action against issues and concernsOrder-level data to know your operations in-depth, at a grassroots level
October 06, 2022
Top 20 Most Profitable eCommerce Business Ideas for Aspiring Entrepreneurs in 2023
The current world has made it incredibly simple to start an eCommerce business, thanks to the Internet. A simple website can be used to communicate with anyone, anywhere around the globe. Concentrating on the appropriate demographics and offering the right products may quickly establish an extremely lucrative eCommerce business. Less overhead, better adaptability, and ease of scaling are further advantages of operating an internet business. The worldwide eCommerce market is as competitive as ever. According to Statista, $3.4 million was spent online for retail in the world in 2019. Global retail eCommerce sales were estimated at 5.2 trillion dollars in 2021. By 2026, this amount is expected to have increased by 56%, totaling roughly 8.1 trillion dollars. There are many prerequisites for an online store to increase sales. Unfortunately, none of those will matter much if you don't have the right business idea. If you intend to explore these niches, we'll review some of the most successful eCommerce business ideas in this guide. What is an eCommerce business? The phrase "eCommerce" refers to business transactions, purchases, and sales of goods and services made through the Internet, particularly through websites. eCommerce transactions can happen between companies or between companies and clients. Businesses with physical stores have been replaced by eCommerce as it has grown in popularity over the past few decades. Without incurring the exact cost of operating a physical store, eCommerce enables you to buy and sell things anywhere in the globe at any time. However, for the best marketing and conversion rates, an eCommerce company—typically a company that sells both online and offline—needs a physical location. How to identify the ideal eCommerce business idea for yourself? Pick The Niche That Interests You If you genuinely care about your products, you may see their advantages and disadvantages and create long-term economic success. In addition, you'll be driven to overcome the difficulties of owning a business if you genuinely enjoy it. Use your interests, passions, and pastimes as the foundation for your research. Use search engines and social media to hone your concepts and perform in-depth analyses on each one. For example, find out what products and industries are becoming more popular online and whether they might make a successful eCommerce offering. Think About Your Capacity and Resources This is important while starting a business. You must consider three primary factors: people, resources, finances, knowledge, and experience. If you have limited resources, you should launch a business with modest sales of low-cost goods. The same is true for a novice with no expertise or understanding. You will encounter challenges and issues like overpriced or low-quality goods, vendor fraud, or even con artists posing as suppliers. Cutting back on stages of business operations or scaling down your scale are your best options if you don't have much personnel. When you hire employees, you can spend more money on benefits. Inspire From Others It's healthy to read books, the news, or blogs, but the advice offered is generic and theoretical. Starting a business requires hands-on work, so you should prepare some helpful advice. Therefore, you should ask questions and pick up knowledge from those with more experience and expertise in your sector. In addition, there are several online communities where you can participate and interact with people. If there is an issue with your proposal, people will either recommend a different idea or offer a remedy to improve it. [contactus_gynoveda] Top 20 Most Profitable eCommerce Business Ideas In 2023 Every eCommerce business idea needs an effective business plan. In the eCommerce industry alone, there are thousands of niches. You must choose the ideal market segment to sell your items to if you want to run a successful business. It takes a lot of research to choose the best niche. First, find out which products are popular and whether or not the market will accept them. The viability of sustaining these goods or services over the long run should also be considered; this measure may entail government regulation and control. So, look at some of the top eCommerce business ideas you can launch in 2023. Clothing & Fashion Source The value of the global apparel market is anticipated to increase from 1.5 trillion dollars in 2020 to about 2.25 trillion dollars in 2025, making this an excellent choice for eCommerce business ideas. Major apparel and fashion brands worldwide have also experienced consistent growth, indicating an increasing global demand for clothing and footwear. On Instagram, search for the hashtag #OOTD to see millions of posts. Almost everyone wants to spend money on nice clothing, which always seems presentable. This has given the already flourishing garment business a significant boost. As a result, numerous new fashion and apparel brands are emerging, ranging in size from small mom-and-pop shops to massive retail giants. Cosmetics and Beauty Products Source These days, many individuals spend a lot of money on cosmetic items, which make up 11% of all online sales. In addition to skincare items, which are in high demand with today's health-conscious customer base, this product includes makeup and is one of the lucrative eCommerce business ideas. Consumers are eager to spend money on cosmetics for several different reasons. Due to business closings, there was a drop in sales during the first few months of the pandemic. Due to this, numerous companies changed their strategies and started selling popular goods online, including hand sanitisers, makeup removers, and hair care items. Some even started offering home spa packages online, including face masks, hair treatments, and other cosmetics. As pandemic restrictions have eased, more and more people are attending live events, returning to work, and holding in-person meetings. All of these factors have continued to fuel demand for this industry. Social media and beauty applications have also helped specialised beauty items become more popular. These platforms motivate aspiring business owners to launch online ventures that serve a more extensive clientele. According to Amazon data, DIY beauty and self-care goods like skincare, men's grooming products, and hair care are popular. Fitness Gear Source Fitness-related products and programmes are among the most looked-up eCommerce business ideas. The global market for online fitness is anticipated to reach $16.15 billion this year and approximately $80 billion by 2026. Taking advantage of this trend, many fitness instructors today have even become influencers, gaining sizable fan bases on YouTube and social media sites like Instagram and Facebook. A few of these bloggers and influencers have created fitness applications. Although celebrities with enormous followings of ardent fans might boost sales, it's frequently ideal to start by offering goods they already endorse and that are related to their target market, such as: Gym AttireSmartwatches Suggested Read: Instagram Business Ideas for 2023 Smart Home Products Source The demand for innovative home products is a more significant eCommerce business idea than ever. By 2026, it is predicted that the global smart home market will be worth $205.61 billion. This product category might be lucrative for a startup business owner, but it's also difficult to break into. Customers are constantly searching for fresh and cutting-edge innovative home items. According to research, 78% of prospective homeowners are prepared to spend more to live in a home equipped with innovative technology. Among innovative home goods, the popularity of voice-activated assistants, robot vacuum cleaners, and keyless locks has increased significantly. Online Courses for Learning Source Open online courses had been around for a while, but the pandemic was their turning point. As a result, people in this era started thinking about different methods for spending time when cooped up. These online courses are convenient for users who live far away, more affordable than those at many traditional schools, and flexible because they may be taken at your leisure. They don't demand a lot of dedication from students, particularly those simultaneously working from home. Offering online courses to subject matter experts in in-demand fields may prove to be a lucrative endeavour. A few topics taught online are email marketing, dropshipping, affiliate marketing, search engine optimization (SEO), and affiliate marketing, apart from learning platforms for government competitive exams. The success of this eCommerce business idea depends on finding online courses that address the growing issue of the skills gap in the industry. Electronics Source According to the National Policy on Electronics (NPE) 2019, India aims to produce $400 billion in electronics by 2025. This is one of the best eCommerce business ideas since it enables you to sell a variety of household appliances, from basic models to sophisticated ones with artificial intelligence (AI) and voice control, as well as laptops, cell phones, TVs, and other electronic products. Additionally, purchasing electronic devices at a lower cost makes this category the most popular on eCommerce platforms. According to the 2020 survey, the average profit margin for vendors in the electronics industry is 20%, which is much greater than the average for other categories. This results from the higher demand and the reduced commission fees at online marketplaces charges for devices. In addition, compared to different product categories, referral fees for most electronic devices are the lowest at 8%. The figures clearly show how profitable the electronic product category has been and will be in the future. Other products in the electronics area include cameras, photographic equipment, and related accessories. Baby monitors and wireless security cameras for homes have been among the most well-liked devices in this category, despite the appearance that consumer demand for cameras has recently fallen. Home Decor & Furniture Source In 2021, the market for home decor on a global scale was worth US$682 billion. The publication projects that the market will reach US$ 898.3 billion by 2027, growing at a CAGR of 5.1% from 2023 to 2027. With profit margins of between 40 and 60 percent, online furniture selling is one of the best eCommerce business ideas. Also, this category has been consistently ranking at the top of sales rankings across several eCommerce platforms. Given the consistent and ongoing demand from so many different market segments, including the real estate industry, the interior design industry, fundamental consumer wants, etc., selling furniture online has proven to be one of the most lucrative areas within today's online eCommerce. Household furniture is ranked as one of the three best-selling online shopping categories, which makes the situation more encouraging. To set up an online furniture company, you must develop an eCommerce website that sets it apart from those selling their home furnishings on eBay or Amazon. You can also offer ornamental items for the home, such as artwork, designer lightbulbs, plants, and other things. Pet Food and Supplies Source The pet food market is anticipated to grow to $163.70 billion by 2029. Given that more people stayed at home, more individuals adopted dogs, and breeders and rescue organisations reported an increase in inquiries, the pandemic may have contributed to this extraordinary growth. For online retailers, this market expansion means more commercial potential. Along with the typical organic pet food, vendors can also sell pet supplies, including pet toys, beds, apparel, and supplements. Eco-Friendly Apparel and Products Source Today's growing climate change and sustainability consciousness drive demand for ecologically friendly goods. Because of this, many people now favour living a more sensible and sustainable lifestyle and wish to support companies dedicated to creating and selling eco-friendly items. According to a survey, 65% of consumers think companies are just as accountable for encouraging beneficial environmental improvements as governments are. Most people still consider price and quality when making purchases. However, a product's environmental impact is now something that many people pay special attention to, which makes this eCommerce business idea quite lucrative. Jewellery Products Source According to a Grand View Research analysis, the worldwide jewellery market is anticipated to reach $518.90 billion by 2030. Per their survey, the most common jewellery item that draws buyers are rings, and customers favour pieces with elaborate designs that may be worn as statement pieces. Collectors love customised jewellery products as well. More than 1,400 metric tonnes of gold are used by jewellery manufacturers, the material with the quickest market growth. If you want to be successful in the eCommerce jewellery industry, you should think about spending money on online marketing to promote your goods. Utilizing the potential of social media marketing can generate interest in your company. At the same time, research through search engines can give you an idea of your target market's needs. Books Source Did you know that Amazon's website began as a digital book store? You did hear correctly. In the 1990s, Amazon was founded as an online bookstore in Jeff Bezos' garage. So it is not surprising that selling books online is one of the most liked eCommerce business ideas. The books area has developed over time to focus more on digital content. eCommerce marketplaces are logical venues to sell digital books because they provide Kindles. This category offers many classic books and epic adventure stories adapted into Hollywood films. In addition, books that are selling best in bestseller's category lists may double as textbooks. Books meet several requirements for a good eCommerce business category, making them excellent possibilities for selling on the market. They are, first and foremost, portable and simple to ship. You won't need to be concerned about them breaking during shipping because they are likewise not delicate. They also won't rust or degrade, so you don't need to offload them quickly. So, if you want to enter the market as a new seller, this is one of the most profitable eCommerce business ideas you could think about. You can find best-selling books on Amazon or other online bookstores by reading reviews or investigating the most popular genres on eCommerce marketplaces. Online Groceries & Foods Source People desire food. That yearning can be satisfied as you earn money. Online grocery and food buying boomed as more individuals were compelled to stay at home. You can take advantage of the fact that the market for food and supplies is as active as ever. Whether you want to buy packaged food at the store or create it yourself doesn't matter. You have a lot of infrastructure at your disposal that you may use to your advantage and succeed. You must familiarise yourself with the legislation because the retail food sector is strictly controlled. However, there is a real chance for the business to succeed if you figure out how to get around compliance. You can offer a website and a mobile app here so that consumers can order groceries and deliver them in under an hour. They use intermediary shoppers to work on consumer orders and provide them immediately, so their method is easy and uncomplicated. Healthcare Supplies Source You can also create a website to use as a distribution hub for medical supplies. Instead of buying these things over the counter, people who have prescriptions or are looking for health supplements can come to your business and buy them. You might have many hoops before your website is fully launched because the regulatory standards regulating healthcare products are also quite effort-taking. Thus, this is not a suggested alternative if you want to launch a business quickly and easily. Sell Your Art Online Source Get your things online and start selling them if you're an artisan and you're confident in what you do. Today, several eCommerce systems may assist you in setting up and running an online gallery to sell your artwork. All you have to do is pay a recurring charge, and they provide you with all the resources you need to scale up. To sell your products, you must use branding and marketing strategies. The most important thing is to set a budget and stick to it. This is a fantastic method to profit from your abilities. You could also benefit from seller communities, as they connect artists with a large audience of art lovers and collectors worldwide. They also provide additional services, such as photo framing and POP art conversion. Digital Products Source These items frequently take the form of digital files that may be downloaded or streamed, including MP3s, PDFs, movies, plug-ins, and templates. As a result, the e-learning market is also booming. By 2025, the market is expected to be worth over $331 billion, according to recent research, making digital products one of the most significant online business prospects for both creators and instructors. Examples include books, music, films, and online courses. Moreover, they are popular among consumers since they can download and utilise them whenever suits them best, even though they can't be held or touched. Because they are affordable to produce and deliver, digital items also present fantastic business potential. You don't need to resupply inventory or communicate with suppliers to sell it to different customers frequently after making it just once. If you consider yourself an expert in a particular industry, you may organize your knowledge in a bundle and sell it as a one-time fee or subscription. Video Games & Gaming Consoles Source Undoubtedly, the video games category on the list would be necessary to include. In any online marketplace, locating a list where gaming consoles and accessories are not profitable categories would be challenging. During the pandemic, the gaming industry kept people occupied in their homes. High profits for sellers are guaranteed in this category. A growing number of movie-themed games are becoming well-liked in the market and are in great demand from consumers thanks to the yearly stream of animated movies. Additionally, gaming consoles and their accessories are among the most popular gift options among consumers, which positively affects the sales of the products and justifies the category's high profitability among the top eCommerce business ideas. Personalised Gift Shops Source The market for personalised gifts is currently worth $31.63 billion, and options include canvas prints, novelty items, and eco-friendly presents. The gift market is undoubtedly quite different, and because of its enormous capacity, no two business concepts can be the same. The demand for personalised gifts has many dominant players, and this is where time-based competition is relevant. The industry has quadrupled with a 25% growth over the previous five years, and new gift item categories have been introduced. The forecast predicts that global retail sales will reach $27.33 trillion in 2022, up 5% YoY. Social media has a significant impact on unusual customised gifting. The variety of gifts available has also increased the Millennial generation's purchasing power. The growth has caused customers' purchase behaviour to change drastically. A luxurious lifestyle and social media influence significantly impact unconventional custom-tailored gifting. Not to add, the increasing acceptance of eCommerce is cited as a significant element. The most exciting and rapidly expanding medium for business transactions in India is e-commerce. The Indian e-commerce market is anticipated to increase from US$48.5 billion in 2018 to US$200 billion in 2026. The increased use of smartphones and the internet has led to this growth. A sizable portion of the pie will go to online services in particular. This was clear when online commercial sales skyrocketed during the COVID-19 pandemic's lockdown. Car and Bike Accessories Source One of the most lucrative areas is the automotive industry! In this market, starting your firm is straightforward. Many automobile and motorcycle components can be sold online, such as seat coverings, rims, tyres, rearview mirrors, and batteries. The eCommerce industry for auto accessories is booming. The prospects for newcomers who desire to enter this area are still plentiful. This is the ideal time to launch and grow your eCommerce business if you're interested in selling automobile and bike accessories. The automotive industry is a massive market that is expanding yearly. To keep their vehicles functioning well, people need bikes and automobile accessories. Delivering genuine bike and vehicle accessories at competitive prices can help you launch a successful online business. Bags, Luggage & Other Travel Accessories Source The travel sector has become a crucial component of the world economy and offers business owners countless opportunities. Because travel is becoming more accessible, the billion-dollar market of bags, luggage, and accessories market is also expanding. In 2021, the backpack market reached almost 18.3 billion USD. The market is projected to continue expanding from 2022 to 2027 at a CAGR of 6.61%, reaching around USD 26.88 billion by that year. These statistics predict a fantastic chance to start a successful eCommerce business. Baby Products Source From 2021 to 2026, the market for selling infant items online is anticipated to increase by 13.61 billion US dollars. Additionally, the market's growth velocity will pick up at a CAGR of 9.82% during the projection period. Selling children's toys, clothing, or accessories might be a lucrative eCommerce business idea because many parents will lose money for their little ones. Offer more affordable products to parents who are on a tight budget as one approach to set your company apart. Or offer heirloom-calibre or sustainably produced goods that appeal to parents willing to pay more for more expensive stuff. Word-of-mouth is a powerful marketing tool in this industry, so sharing client testimonials and displaying social proof on your digital networks will help you expand your company. Conclusion Even if the eCommerce sector is quickly growing, simply creating a store is insufficient. Your business plan must provide customers with products or services they are interested in to be profitable. You can employ several business concepts and market your products directly to customers if you want to open an online store soon. Any of the recommendations above would be a great place to start. WareIQ As A Fulfillment Partner WareIQ, a 3PL with technological capabilities, utilises its software across its network of fulfillment facilities. As a result, customers can view inventory levels and follow their orders' selection, packing, shipping, and delivery in real-time. After we've connected your store, orders are automatically sent to our warehouses. The thing is chosen, wrapped, and sent (and tracking info is pushed back to your store and shared with your customers). With our fulfilment services, you can make the most of your time and financial resources by using the delivery process to surpass client expectations and take more control over the customer relationship. You can strategically distribute your inventory throughout WareIQ's locations using our nationwide spread fulfillment centers to deliver your products more quickly and affordably. This is so that you can reduce the shipping zones and costs associated with sending orders to far-off areas by keeping inventory local to your customers. Additionally, whether you ship from one fulfilment center or numerous, you can offer same-day or next-day delivery to 98% of the country's population with WareIQ's 2-Day Express shipping option. WareIQ offers data and analytics to assist you with anything from year-end reporting to enhanced supply chain decision-making. By doing this, we hold ourselves accountable and notify you of our progress. We show essential data like which fulfilment centres you should stock, how much time is left before inventory runs out, how sales affect stock levels, the typical cart value, shipping costs, and transit times for each shipping option, as well as your fulfilment costs per order and storage costs per unit. [signup] Profitable eCommerce Business Ideas FAQs What e-commerce market niche is the most lucrative?It is difficult to determine a specific e-commerce market niche that is the most lucrative, as the profitability of an e-commerce business can depend on a variety of factors such as the target market, competition, cost of goods, and marketing and sales efforts. However, some market niches that have been successful in the past include:i) Health and wellness products: This market niche includes products such as supplements, organic and natural foods, and fitness equipment.ii) Fashion and accessories: E-commerce businesses that sell clothing, shoes, and accessories can be profitable, especially if they offer unique or hard-to-find items.iii) Beauty and personal care: This market niche includes products such as makeup, skincare, and hair care.iv) Home and garden: E-commerce businesses that sell home decor, furniture, and gardening supplies can be successful, especially if they offer unique or high-quality products.v) Electronics and gadgets: This market niche includes products such as smartphones, laptops, and smart home devices. Will eCommerce still be profitable in 2023?e-commerce will continue to be a significant and growing part of the retail industry in 2023 and beyond.Online shopping has become increasingly popular in recent years, and this trend is likely to continue as more consumers become comfortable with making purchases online and as businesses continue to invest in improving the online shopping experience. In addition, the COVID-19 pandemic has accelerated the shift towards e-commerce, as many consumers have turned to online shopping as a way to minimize the risk of exposure to the virus.While it is impossible to predict the future with certainty, it is likely that e-commerce will continue to be a viable and potentially lucrative business opportunity in the coming years. Which product sells the most online?10 products that give high margins & sell the most online arei) Booksii) Beauty Productsiii) Sunglassesiv) Watchesv) Women’s Apparelvi) Fitness Equipmentvii) Athleisureviii) Kids’ Toysix) Pet Carex) Home decor, kitchen essentials
October 03, 2022
Why Should Offline Retailers Switch to Online Selling in 2023? 13 Significant Benefits of Selling Online
Anyone may now establish their own online business in as little as a few minutes, thanks to the Internet, which has given everyone the power to dream big. eCommerce is a vast global marketplace where people can buy and sell goods and services online. It also functions as a successful business strategy that enables retailers to reach their target market on a global scale. If you're considering opening an online store, know that global retail eCommerce sales surpassed $4.9 trillion in 2021 and that, according to eMarketer, they will reach more than $5.5 trillion by the end of 2023. So it might turn out to be one of your wisest choices ever. Discovering the benefits of online selling will help you choose whether this is the best business model for you. You'll be able to stay inspired and enthusiastic throughout your entrepreneurial journey thanks to these benefits of doing business online. Why Should You Switch to Online Selling in 2023? Customers in our digital age need quick response times, round-the-clock support, and immediate access to goods and services. Customers between the ages of 18 and 29 and between the ages of 30 and 39 purchase online at least once weekly, respectively. By 2023, experts estimate that global retail eCommerce revenues will surpass $5.5 billion. Given these details, it should be no surprise that many businesses are shifting their activities online. Compared to more conventional techniques, this enables them to expand their brand awareness and reach a global audience for much less money. It costs less time and money to set up a website, show your products, and advertise online than to maintain a physical store. In addition, digital technology can help you create better customer experiences by streamlining your eCommerce business operations. Examples include eCommerce and retail apps, deep learning algorithms, chatbots, and marketing automation systems. The benefits of online selling have gone beyond time and money savings. If you take this route, you'll find it simpler to compete with more prominent companies and market your goods to a global market. Utilizing client data also allows you to enhance your offers and marketing initiatives. Advertising platforms like Facebook Ads, Google Adwords, and others offer thorough insights into consumer behavior, preferences, purchasing power, and more. [contactus_gynoveda] 13 Significant Benefits of Online Selling Selling online is an excellent way to increase your business's reach, whether you currently have a physical storefront or are just starting eCommerce. Here are compiled thirteen benefits of online selling to assist you in deciding if doing so would be advantageous. Shorter Go-To-Market Timeframes Source In contrast to traditional retail, your eCommerce store might be up and running in just a few clicks. Pre-made templates design your store on eCommerce platforms like Squarespace, Shopify, and BigCommerce. They handle hosting, PCI compliance, platform maintenance, and other tasks. Creating an account is necessary to sell on online markets like Amazon or Flipkart. These SaaS-based eCommerce platforms have made it feasible and easy for business owners to build appealing and dependable sites with little work during the past few years. You can sometimes launch a professional website without technical or eCommerce skills. So, you may see significant growth before you think about internal resources or hire a digital firm to advance your website. eCommerce solutions allow you to launch rapidly, especially if you already have a social media following or have built up word-of-mouth. It is possible to launch a website rapidly and subsequently increase traffic to it, which is one of the benefits of online selling as compared to brick-and-mortar selling. Low Operational Costs Source Launching an online store is far less expensive than creating a physical store, which is one of the benefits of online selling. You are not required to outfit your business, pay rent, or hire several employees. Campaigns for marketing and advertising are very reasonably priced. The internet gateway is also mechanised and computerised, saving a lot of money. The lack of a middleman, which results in significant cost savings, is one of the main advantages of online commerce. Since the platform creates a direct relationship between customers and suppliers, it can create an effective supply chain. Potential to Generate Revenue 24/7 Source eCommerce also has the benefit of having open 24/7 internet stores. You can draw someone's attention at any time, anywhere in the globe, with Facebook ads. Contrarily, most physical stores are open from 10 a.m. to 8 p.m., offering you a competitive advantage. Being accessible 24/7 will help you draw customers who would otherwise shop at nearby stores if the outlet were open. Consider your audience's non-traditional or busy work schedules while designing your message. For example, you can draw in customers with unpredictable work schedules or little free time with an online store. What about nighttime clients who place orders? So you don't require night shift workers to fulfil their needs. All you have to do to give your consumers peace of mind is automate your ordering processes, so they get an email confirmation when they place an order. Bring in New Clients Source eCommerce selling can take on various formats, as already mentioned. Sellers can connect with a specific audience through each channel. You can reach overseas customers by creating an online presence. Social media platforms can reach new audiences. The largest audience is offered through marketplaces like Amazon, but you can also use them to identify niche markets. Marketplaces like Poshmark, Newegg, and Etsy cater to consumers looking for particular products. The best aspect is that you may simultaneously engage numerous audiences by utilising a variety of web touchpoints. One of the benefits of online selling channels is that they aren't constrained by who can physically visit your store, unlike brick-and-mortar ones. You can now contact someone online that you couldn't previously, whether you're a new or established seller. Simpler Purchasing Process Source Even if a buyer only wanted to buy one thing, he had to schedule his entire shopping excursion in advance. This will involve changing his schedule and going to the store to make the buy. Therefore, one of the vital benefits of online selling is that it expedites the purchasing process. One no longer needs to travel to the outlet from home. Instead, relax while conducting a product search from the convenience of your home or place of employment, then finish placing the order. Additionally, one can shop whenever they like because internet retailers are available every day of the week, 24 hours a day. eCommerce enables the user to buy a particular product quickly by offering a variety of possibilities. Comprehensive Product Listing Source A crucial component of eCommerce is that customers want a thorough overview of the products they want to buy. Therefore, customers of an eCommerce platform have access to a product catalogue with details outlining all of the company's goods and services. The specifications, utility, and qualities are thorough. Even the colours of some products are specified so you can choose depending on personal desire. In addition, customers can gain more information not available in retail outlets, such as the contents of culinary items. Customers can purchase the things they want more easily when readily available knowledge. Online websites also offer reviews and user comments that educate customers about a product's viability on the market. In addition, a consumer may find the portal's warranty details and other product-related terms and conditions helpful. Broader Customer Base Source A physical store is situated in a specific neighbourhood, and often, locals can only visit to shop there. Amongst other benefits of online selling is that it is not geographically restricted. When conducting business online through eCommerce stores, geographic boundaries become unimportant. Customers from all over the world who shop online can buy your products. You are not limited to customers who can walk to your physical location. The retail establishment has access to previously unexplored niche markets thanks to the Internet. You can reach customers in several ways by utilising numerous internet touchpoints, such as forums and social media. A customer can use a computer with the necessary operating system and an internet connection to access the portal anywhere. Strategize for Content Marketing Source You may give your customers more details about your goods and services by having an online presence. A branded website gives sellers a platform to deliver customers important content. In-depth product descriptions, product comparisons, in-store inventory availability, and pricing are some examples of crucial product content. Both in-person and online shoppers can use this information to guide their decisions. Your eCommerce website might offer extra details about your company or demonstrate how to use your products. For example, your brand's history and the manufacturing process can be highlighted on websites and through email marketing. Videos and blog articles can also offer helpful information about using your goods or services. Find out more about how content marketing may boost online sales. Create Personalized Experience Source Personalizing a website can improve the online shopping experience. Developing customised landing pages for various audiences is one of the main benefits of an online selling business. With little additional effort, this might persuade them to buy from you. It's not like welcoming consumers into an actual store, whom you must take care of immediately. When you start marketing to your consumer base, you may relax after putting in all the hard work upfront. Additionally, you can customise the experience you offer through email marketing campaigns. For example, consider segmenting your email lists based on a customer's geography, past purchases, or how much they spent. Another suggestion is to retarget visitors to your online business by advertising a product they placed in their cart but later forgot about. Product bundles can enable customers to purchase more items at a reduced cost, raising the average order value. Additionally, you can tailor upsells to the customer based on what they have looked at or what you believe they might like based on their purchasing patterns. Retargeting or Remarketing to Customers is Simple Source One of the most lucrative benefits of online selling is how simple it is to develop retargeting advertisements to target local clients when operating an online business. To show ads to potential clients in their Facebook feeds, you can establish a Facebook Pixel. For example, the Shoelace Shopify app can retarget website visitors who don't make a purchase. With e-commerce sites, you may retarget customers who add items to their carts but later decide not to check out or browse a blog article but never make a purchase. With a strong pop-up or lead magnet, you can capture email addresses and continue to market to your clients even after they leave your website. Customer Data Insights Source The simplicity with which consumer data can be gathered, analysed, and used to take appropriate action can be one of the benefits of online selling that you may not have thought about. You must control the consumer data if you want to have a laser-like focus on the customer experience. You can gather first-hand data through online selling by observing customer experiences. You'll gain valuable insights from a never-ending feedback loop that will enable you to redefine the client experience continually. Customer preferences are essential, and an online business may track and assess how frequently a customer purchases or browses other items on his portal. In stores with physical locations, it is not possible. Customers' actions can be tracked by sellers both directly and indirectly, allowing them to customise their offerings to Scalability Source Due to a lack of staff, managing a surge of consumers in a physical business is exceedingly challenging. In addition, a physical store needs more resources and floor space to scale up, each with a price. In contrast, one of the less apparent benefits of e-commerce for firms is how simple it is to expand an online store. All that is needed are more supplies, some digital adjustments, and perhaps more storage space, which is much less expensive than storefront space. Additionally, since you are already connected to a worldwide marketplace, being online eliminates the need to build a new store in a different location. Boosted Profit Margin Source Opening and running an online store is relatively inexpensive compared to traditional retailers. Additionally, you'll spend less on marketing, labour, and overhead. Most e-commerce sites give the dashboard an added feature for reporting and bills to aid in business financial management. Costs related to inventory management are also decreased when operating an online store. Online shops may sell goods more quickly and profitably since they are open twenty-four hours a day, seven days a week. Therefore, an e-commerce platform's vital benefit is assisting businesses in increasing their profit margins through higher revenues and lower prices. WareIQ as a Fulfillment Partner As a 3PL with technology capabilities, WareIQ uses its software throughout its network of fulfilment centers. It lets clients track inventory levels and orders as they are selected, packed, shipped, and delivered in real-time. Once your store is integrated, orders are automatically delivered to our warehouses. The item is picked, packaged, and shipped (and tracking info is pushed back to your store and shared with your customers). By exploiting the delivery process to exceed client expectations and gain more control over the customer connection, you can maximise your time and financial resources with the help of our fulfillment services. To deliver your products faster and for less money, you can strategically distribute your inventory across WareIQ's locations using our nationwide network of fulfillment centers. This is because keeping inventory close to your customers helps cut down on the shipping zones and expenses involved with sending orders to distant locations. In addition, with WareIQ's 2-Day Express shipping option, you can offer same-day or next-day delivery to 98% of the nation's population, whether you ship from a single fulfillment centre or several. To help you with anything from year-end reporting to better supply chain decision-making, WareIQ provides data and analytics. We do this to hold ourselves accountable and to give you information about our efforts and outcomes. We display essential information such as which fulfilment centers you should stock, how long you have before running out of inventory, how promotions affect stock levels, the average cart value, shipping costs, and transit times for each shipping option, as well as your fulfilment costs per order and storage costs per unit. Benefits of Online Selling FAQs: Frequently Asked Questions What does it mean to sell online?eCommerce is frequently characterised as the online sale or purchase of tangible goods. However, the sale and purchase of services and digital commodities are also included in the definition of eCommerce. In essence, it refers to internet sales by a company. Some internet retailers only conduct business online. What are the benefits of online selling?Selling on an online marketplace can be quite profitable. There are more customers, more controls, simpler inventory management, and simpler delivery and return procedures. There are even ways to provide your customer's advantages. You can set up the payment methods of your choice. What are some common challenges when selling online through e-commerce platforms?1. Competition from other online sellers.2. Shipping and logistics issues.3. Maintaining inventory levels and accurate product listings.4. Protecting sensitive customer information and ensuring data security.5. Managing customer complaints and returns. Are there any barriers to selling on an eCommerce marketplace?1. Competition from other sellers offering similar products.2. Fees the marketplace charges, such as listing and commission fees.3. Limitations on product customization and branding.4. Dependence on the marketplace's customer traffic and visibility.5. Difficulty in standing out from other sellers and building a strong brand identity.
October 03, 2022
New Feature Launch: PO Creation & Real-time Inventory Transfer Tracking
At WareIQ, we are always looking for ways to provide eCommerce sellers with a unified logistics experience to take away all your operations hassle. A lot of our clients shared how complex inventory transfer from one warehouse to another is for their operations team. They lacked: An easy and automated PO creation processReal-time visibility into the transfer processAlerts to immediately communicate issues for quick remedial action To simplify inventory transfer, we have launched a new PO Creation feature that allows online sellers to create POs and track inventory transfer process in real-time directly from our merchant platform. Capabilities Simplify inventory transfer and boost logistics efficiency by 10x Create Create POs from our smart fulfillment platform by entering relevant SKU details, destination warehouse, ETA etc. Transfer Attach the bar codes and labels generated by our platform to the boxes to be transferred and initiate transfer. Track Once the PO is created, sellers can now centrally track the progress status of all transfers initiated by their team on our platform. Alert As and when stages are updated, sellers get platform notifications and auto-triggered emails to alert them. Watch this short video to know how to get started https://www.youtube.com/watch?v=cvTFz1GxfY4 Benefits With WareIQ's PO Creation & Management feature, eCommerce brands can: Reduce the hassle in creating and managing POsGenerate all the required labels from WareIQ smart fulfillment platform to facilitate inventory transferFasten the inventory transfer processMonitor the inventory transfer process in real-time from our dashboardAlert stakeholders of escalations and status change over email in an automated fashion
October 03, 2022
All About eCommerce Marketing Automation: How and When To Utilize Automation Software, Benefits, and Best Marketing Automation Software To Deploy in 2023
There is simply a lot to do when running your own business. It's important to interact on various platforms, talk to customers, and display the appropriate content on the website. The best eCommerce stores employ marketing automation to automate each of these activities. According to studies, marketing automation is used by 49% of eCommerce companies. As a result, you and your marketing staff will save a tonne of time each month, which is a significant advantage. Additionally, you might significantly boost your revenue by better optimising your marketing initiatives. You might not have enough time to manually send SMS, email, or chat messages to your clients or leads, for instance. But with automation, you can communicate with each user at the most advantageous moment and in the most effective manner. According to studies, the likelihood of a user making a purchase increases by 287% when they are engaged across three or more eCommerce platforms. This article will explain eCommerce marketing automation in detail and show you how to employ it within your business. What is eCommerce Marketing Automation? eCommerce marketing automation is a term that describes software that increases a business's productivity by automating routine marketing operations and workflows. As a result, you may concentrate more on other aspects of your business by using marketing automation to put chores like lead management, email nurturing, and remarketing advertisements on autopilot. Marketing frequently entails repeating the same actions or tracking the same data. As a result, the individual handling it may become frustrated and spend their capacity on tedious activities. eCommerce marketing automation frees human personnel to handle other business activities or administer sales and operations. [contactus_gynoveda] Advantages Of Marketing Automation For eCommerce Businesses There are many advantages to implementing eCommerce marketing automation software for your business, which can help you grow your organization. And in this section, we've covered a few of the most essential and valuable advantages of eCommerce marketing automation that can support your company's expansion. Reduces Manual Mistakes Errors and blunders are inevitable while performing your job manually. However, you can eliminate manual errors and make sure that your campaigns are always successful by utilising eCommerce marketing automation. Therefore, you'll be able to streamline your marketing workflows, save time, and eliminate errors by utilising marketing automation. Time-Saving Saving time and streamlining your marketing efforts are two significant advantages of automating your marketing process. With the use of solutions that automate social media posts, abandoned shopping cart alerts, email campaigns, and other marketing tasks, you'll be able to spend less time on tedious jobs and more time on tactical endeavors that will expand your company. Average Order Value Increases Ecommerce marketing automation can also help you raise your average order value, which is a fantastic advantage. You can entice customers to add more goods to their basket and spend more on each purchase by using automation technologies to send targeted upsell and cross-sell offers. This can significantly affect your revenue and aid in the long-term expansion of your e-commerce firm. Additionally, eCommerce marketing automation may assist you with real-time campaign optimization and overall results improvement. Marketing automation solutions can help you achieve your goals to improve sales, build brand recognition, or draw more customers into your business. Enhances Consumer Engagement eCommerce marketing automation can also increase engagement and conversions by automatically distributing relevant content to leads and consumers. Owning a business necessitates regular communication with clients and other companies. As a result, you should consider investing in practical, cost-effective platforms like Constant Contact or some of its top competitors that can automate your email follow-ups, scheduling, and other tasks. You may keep your audience interested in your brand and raise the possibility that they'll shop at your store by delivering customised emails at the appropriate moment. Improved Audience Targeting Automation also makes it easier for you to target particular consumer segments with greater accuracy in your eCommerce fulfillment services. You can divide the audiences on your email list into groups based on their interests and demographics, then send them tailored, targeted emails. This allows you to design campaigns pertinent to your target audience's wants and needs, increasing lead conversion and sales. Nurture Your Clientele You can cultivate your leads with eCommerce marketing automation by engaging with them consistently, which can help you do the same for leads and customers over time. You may strengthen the bonds with your audience and raise the chances that they'll shop at your store again by using automated technologies to give them educational content, special deals, or other materials. Improved Consumer Insights Consumer analysis is essentially made easy by marketing automation. You get consumer data, such as email addresses, dates of birth, and product preferences, every time someone subscribes to an email newsletter or buys something. Follow-up surveys might assist you in gathering further data. Additionally, you can monitor user engagement, including bounce rates, popular pages, time spent on your website, busy hours of the day, monthly unique visitors, and visitor location. All of those insights can be used to create more successful marketing initiatives. Enhancing Workflows Every touchpoint in the customer journey should deliver a tailored experience, according to customers. Unfortunately, that isn't easy to do when data needs to be integrated and supplied to every company's marketing tool. Therefore, it's crucial to design automated workflows transporting consumer data. Automated workflows include return operations, shipping notifications & delivery notifications, and marketing communication for new consumers. Types Of eCommerce Marketing Automations The most popular kinds of marketing automation campaigns that are appropriate for utilization by eCommerce businesses are listed below. Automating Email Marketing Business owners can plan the delivery of personalised emails to customers by automating emails. It spares internet marketers the added work of creating and sending new emails whenever a customer expresses interest in a brand or for marketing promotion objectives. For instance, sending automated emails with suggestions for similar things that a consumer has purchased from a website or reminding a customer who placed an order but neglected to complete the transaction. It's a tested method of customising the user experience. You can develop a segmented mailing list using email automation to strengthen the bond between your consumers and your company. According to studies, email is the preferred communication method for 60% of customers, making it the most efficient tool for lead generation and brand engagement. Businesses can use email automation to build segmented subscriber email lists based on information from customer relationship management systems. Increased sales and revenue enables eCommerce marketers to convert prospects into customers. Omnichannel Automation In contrast to traditional marketing techniques, omnichannel automation places the client at the center of all campaign activity. To offer a more individualised customer experience, this comprehensive multi-channel strategy incorporates the seamless integration of offline touchpoints and digital marketing channels like email marketing, SMS, and social media posts. Omnichannel automation's primary goal is to enable customers to interact with brands on their terms, independent of the media. Customers frequently start their buying journeys via one media before switching to another. By building a linked process that enables organisations to engage with customers regardless of channel, the omnichannel fulfillment strategy delivers a cohesive experience. For instance, a brand's website and social media pages will notice if a customer starts shopping on its mobile app. In addition, the customer will receive reminders across all platforms even days after starting the purchase. Related Article: Omnichannel Order Management for Retailers Automated Analytics for Customers It is the procedure of gathering and studying user data from numerous channels. These analytics provide the practical knowledge required to develop strategies around the goods and services that clients from a particular group are interested in. The automatic customer analytics tool can be beneficial for: Retaining ConsumersHigher level of consumer involvementChoosing the appropriate marketReducing acquisition expenses Knowing your customers' preferences is one of your most critical goals, regardless of the medium used. Businesses may visualise data in real-time and gain a deeper understanding of their customer's thanks to customer analytic solutions. How To Utilize Marketing Automation Software in eCommerce? The advantages of e-commerce marketing automation are now known, so let's look more closely at what it can accomplish for your company. The purposes and applications of marketing automation in e-commerce are numerous, and just a few are listed here. Emails To Rescue Abandoned Carts Despite having the intention to buy something, clients frequently become distracted and abandon your website after adding the products to the cart. As a result, customers abandon their online carts at an average rate of 69%. To get their attention back, in this case, you can use automation to send them abandoned cart rescue emails. Captivate New Clients By surprising potential customers and enticing them to continue engaging with your brand, you can use your initial campaign to draw new leads to your company. The key at this point is attractive, pertinent, and engaging content, whether it be shared via social media, a lead magnet like a free ebook, or a competition for new subscribers. Marketing automation platforms offer drag-and-drop editors and various eCommerce-specific templates to simplify creating content. Use this to your advantage by providing your audience with enticing material. Then, draw them closer by offering a simple sign-up option (via pop-ups, for instance) for email and SMS campaigns. Win-back Campaigns You may also use eCommerce marketing automation to re-engage clients who haven't interacted with your business recently. You can re-engage these clients and persuade them to do more business with you by sending automated emails with unique offers or other niche content. If you want to expand your eCommerce firm, use win-back programmes, which can be an effective marketing tactic. Instantaneous Communications eCommerce businesses can also employ marketing automation solutions to enable real-time interactions and maintain constant contact with the audience. eCommerce marketing automation technologies make it simple to rapidly reply to consumer feedback, solve customer inquiries and problems, or offer individualised service. You could, for instance, design an automated email pipeline that sends an email immediately after a user interacts with your website. As a result, eCommerce businesses may offer a better customer experience and raise the possibility that customers will do business with them in the future using real-time communications. Engage Existing Consumers Recurring clients are essential for business growth since they raise revenues by 25–95% with a 5% increase in customer retention. In addition, you have won their faith and trust since they have previously demonstrated their desire to buy your stuff. By making it simple to provide exciting material automatically, marketing automation can help increase brand loyalty. In addition to boosting customer lifetime value (LTV) and your bottom line, setting up a post-purchase email campaign for consumers who have already made a purchase can foster brand community building and encourage them to view you as a "lifestyle choice" rather than a one-time buy. Gather Customer Feedback Social proof is a must for eCommerce companies. You may quickly create social proof by creating an automatic email or SMS inviting clients to post reviews. You can gather new customer reviews by strategically timing and creatively approaching this workflow, encouraging new customers to trust your brand and purchase. Source 6 Factors to Consider When Choosing an E-commerce Marketing Automation Platform Marketers can access many marketing automation systems, but not all are created equal. This section will focus on how selecting the appropriate software can mean the difference between success and failure. When trying to choose software for your company, there are several factors to consider, including: Features Of the Product Asking yourself questions will help you assess whether a software package provides the required capabilities. For example, what specific tasks must the software perform for you? Does it hold up against the software that your rivals are using? Will it be compatible with the tools you already have? Remember that any new software should help your decision-makers do their duties more effectively and maintain the centralization of your organisation. User Experience As it is essential to your daily operations, this is one of the most important characteristics of this kind of software. Make sure the software you choose is user-friendly, responsive, and intuitive. This implies that it shouldn't be overly tricky while enabling hassle-free switching between the tools, functions, tabs, marketing communications, etc. Related Article: How to improve Mobile Shopping Experience? Technical Assistance If you experience any technical issues or questions regarding the programme, you should contact your marketing automation platform developer as soon as possible. The most popular assistance methods are live chats, emails, and phone calls. They should be dependable, responsive, and accessible throughout business hours, if not around-the-clock, to ensure that you do not lose any business due to technological difficulties. Cost The best action is to select marketing automation software that is both cost-efficient and effective for your company. Many vendors impose hidden costs for extra features that you might not require. Weigh your automation equipment accurately to be safe and avoid burning a hole in your wallet. Integration Pay close attention when selecting a platform that is right for your company to ensure that it will integrate easily with the systems you already have. For instance, when using marketing automation for an agency, you might need to confirm that it is compatible with your customer relationship management system and any software you use for tailored communications. Scalability How much you can do before needing a different solution depends on the software's scalability. An expandable platform will also enable your business to expand, cutting overhead costs and obviating future software upgrades requiring a new onboarding and training procedure. 5 Best eCommerce Marketing Automation Software and Platforms in 2023 There are countless platforms and tools for automation, and each one is the finest. Let's examine the most widely used marketing software programmes and their differences. Hubspot Source For a good reason, Hubspot is a household name in e-commerce marketing. Hubspot is an innovative and user-friendly tool that can assist you in creating landing sites and forms, publishing a company blog, managing your social media profiles, creating email campaigns, and generating leads. In addition, Hubspot is a fantastic option for most online shops because it connects with various well-known eCommerce systems, including BigCommerce. Hubspot has a range of pricing options, from free to thousands of dollars each month (ideal for enterprise-level companies with hundreds of thousands of customers). Omnisend Source Omnisend, which targets eCommerce marketing enthusiasts, excels at segmentation and personalisation. The detailed reports provided by this programme make it simple to divide subscribers into groups and deliver them personalised ads regularly. Furthermore, with Omnisend, you can automate emails based on various trigger events, such as customer site behaviour, birthdays, and abandoned shopping carts. A leader in the marketing software market, Omnisend has features like a drag-and-drop newsletter builder, a popup builder, and split testing possibilities. In addition, Omnisend integrates with SMS texting, enabling businesses to contact customers with shipping updates and promotional offers. Constant Contact Source Constant Contact is powerful marketing automation and email marketing system that aids companies in improving their email and social media advertising skills for consumer acquisition, conversion, and retention. When new leads are interested in your brand, it automatically sends a targeted welcome email. You can assist your company produce more effective and intelligent email marketing with Constant Contact, saving time while expanding your company. integrates with Facebook, Google, Salesforce, Office 365, and WordPress It automatically delivers personalised abandoned cart emails to clients who have left things in their cart; it recovers lost purchases. It allows you to quickly drag & drop products and email discount coupons from your store. With constant contact, you can also use social media to connect with new audiences and make it simple for users to locate you on Facebook and Instagram, increasing traffic to your website. Marketo Source Marketo is a high-end marketing automation system that can scale swiftly for any company looking to expand quickly and effectively. All firms who want to increase their digital marketing efforts can use this cloud-based marketing tool. Through strategies including search marketing, landing pages, online personalization, forms, social media, and behaviour tracking, Marketo facilitates lead generation by appealing to and engaging new consumers from the beginning of their customer journey. It personalises lead experiences, turns them into customers, and scales cross-channel using automated campaigns. It supports real-time and batch-triggered emails, automatic lead behaviour segmentation, and mobile marketing capabilities to reach clients wherever they are. Most CRM systems are compatible with Marketo, enabling you to recognise your most valuable prospects and quickly alert your sales staff. Then, your sales team can concentrate more on converting prospects rather than wasting time on ineffective contacts. Leads Squared Source This marketing automation software automates lead monitoring, nurturing and management for B2B and B2C businesses. LeadSquared is more akin to an automated tool for the one-customer journey that is mainly devoted to the lead nurturing stage of the procedure. The gadget design makes it possible to acquire more new clients quickly by accelerating the flow of information through the funnel. Workflows based on triggers for communicating with prospects can be created fast. For example, with Leadsquared, you may contact your clients via their preferred channels, such as email, text, WhatsApp, phone calls, or self-service portals, in response to their activities and inquiries or regularly. Conclusion The eCommerce industry lives and breathes automation. Delegating tedious tasks to extremely effective software promotes meaningful and individualised customer connection. This improves conversion, customer acquisition and retention, and marketing strategy, keeping online marketers at the top of their game. Correct eCommerce marketing automation strategies combined with intelligent software selection will help your company expand quickly. [signup] Marketing Automation FAQs: Frequently Asked Questions What function does marketing automation serve?Employing software to automate tedious, repetitive marketing tasks is known as marketing automation. Businesses use automation to generate leads, close deals and maintain client relationships. For example, when a company requires new sales leads, they would advertise in the media, on TV, and the radio. Is marketing automation genuinely effective?For small firms, marketing automation has the potential to be a game-changer. It aids in lead scoring, sorting, and nurturing throughout the sales cycle, increasing conversions by focusing on clients with the greatest likelihood of making a purchase. But more than that, it enables you to lead the life of your dreams. What are the best Marketing Automation tools?The best Marketing Automation tools vary based on the needs and budget of an organization. Some popular Marketing Automation tools include HubSpot, Marketo, and leadsquared. How can Marketing Automation improve customer experience?Marketing Automation can improve the customer experience by allowing organizations to personalize their communications and interactions with customers. This creates a more relevant and meaningful experience for the customer, leading to increased customer satisfaction and loyalty. What is a sales automation tool?Sales teams employ automation tools to automate every step of the sales process more effectively, from prospecting and lead nurturing to closing. These solutions automate many tasks, including order processing, contact and customer management, sales forecasting, and much more.
October 01, 2022
What are eCommerce Website Builders? A Guide to the 10 Best Website Builders for Your eCommerce Website in 2023
September 30, 2022
Gearing up for 10x demand surge during the biggest sales season of 2022
Anything & everything to help you gear up for “The” Festive Season Sales: Framing sales targets, Offering deals & discounts, Increasing efficiency of manpower utilisation, Preparing inventory to tackle the additional festive season demand, Fabricating logistics & fulfillment strategies and Setting up ad campaigns
11 Easy Steps to Start an Online Store in 2023 [A Beginner’s Guide for Offline Retailers & Aspiring Entrepreneurs]
Online sales are taking on greater importance in today's society. Every year, eCommerce accounts for a larger and larger percentage of online retail sales. Additionally, more brick-and-mortar businesses are contemplating online selling as more customers turn to online merchants and marketplaces. Online selling is by no means simple, even though it is necessary. Establishing, marketing, and starting an online store is a huge task for most sellers. Therefore, we've put together a list of stages to start an online store that will also aid you in your transition into online selling. Why Should You Consider to Start an Online Store? More and more consumer spending is now being accounted for via eCommerce each year. Because more individuals are at ease with online purchasing, your pool of potential clients grows yearly. 22% of all retail sales worldwide will be made through eCommerce by 2023. If you don't start an online store, you could lose revenue from people who prefer to purchase online. You should start an online store for various reasons, though! There are numerous extra advantages to setup an online store for your business. An online store can help you with the following: Expands Your Customer Base Internationally You can sell your goods internationally or nationally when you do so online. Thanks to this business model, you will be able to reach clients that were previously out of your reach. Gives Customers the Option to Shop from Home Today's consumers are altering how they interact with brands. Nowadays, consumers like to do their product research online before buying. Then, when you set up an online store, customers can compare your products to your rivals. Enhances Your Business's Legitimacy Setting up a website and starting an online store for your company offers a professional appearance. If your store has a solid online presence, customers are more likely to believe in it. Enables Customer Reviews Many online retailers provide customers with the opportunity to write reviews for the goods they've purchased. These client testimonials reassure prospective buyers that your products are good and could encourage more purchases. Suggested Read: Why customer feedback's are important? Social Sharing of Products Allows Customers To Share Products On Social Media: If you have an online business, each of your products has a unique URL. This enables customers to share your products on social media. Hopefully, this will help your products get in front of more people. Protection Against Natural Disaster Having an online store gives your company an extra sales channel and an extra layer of security. You will still be able to sell your goods even if your shop needs to close for whatever reason. Suggested Read: Multiple Channel Selling Platforms [contactus_uth] Types of Products For You to Start an Online Store Online retailers can offer three primary categories of eCommerce goods. Tangible Products As the name suggests, they are tangible items that must be produced, warehoused, and sent to clients. Selling physical products might be lucrative, but your profit margins may be minimal if you don't control your operating costs efficiently. Digital Downloads A customer can download anything to their device, such as eBooks, audiobooks, online courses, etc., and can be sold as a digital product. Higher profit margins are available for digital goods (compared to physical goods). But because they are frequently thought of as having less worth than tangible goods, pricing them can be challenging. Services Online sales are possible for almost any distant service. The quickest way to establish an online business is to sell services (and turn a profit). However, the business concept involves you selling your time. As a result, your earning potential is constrained since you only have a certain number of hours each day. Unless you grow into an agency, that is. Step By Step Guide on How to Start an Online Shopping Store in 2023 Starting an online store can help your business succeed. However, it is unclear to many merchants how to setup an online store. Check out the 11 easy step-by-step guide on how to setup an online store below. Decide on the Business Structure Make sure your new business is legal before you start an online store. Though it's not the easiest step, incorporation is a requirement for your company. If something goes wrong, your assets are also protected by a legally valid organisation recognised by the government. It also facilitates: Your tax bill reducedEasily obtain business fundingSeparate and maintain your personal and professional credit ratings. For new business owners, typical organisational models include: Sole proprietorship An unincorporated business has no legal separation between the owner and the business. It is the easiest to setup and run and qualifies as a non-employer business. The primary source of income for almost 40% of small business owners is a non-employer firm. Partnership A single company having two or more proprietors is called a partnership. Each owner contributes to the company through money, assets, labour, or expertise. Partners split costs and earnings. Limited Liability Company (LLC) A hybrid business form, LLC, combines partnerships with corporations' liability protection. Choose a Niche and Develop a Business Plan You must identify the market niche you wish to sell in before selecting your products. By specifying your niche, you may position your store differently by ensuring that you make product choices and build your entire clothing line business plan around the types of customers you want to appeal to. Determining your niche can help you quickly find and advertise your potential customers. This will also assist you in creating a product lineup that appeals to your target market, reducing competition and increasing the likelihood of long-term client loyalty. The eCommerce industry is incredibly diversified. Even the current behemoths, like Amazon, began as specialised retailers. So to decide which eCommerce categories to concentrate on, do some background study. Performing a SWOT Analysis Strengths, Weaknesses, Opportunities, and Threats are also known as SWOT analysis. It's a quick and easy approach to evaluating various product and niche ideas. Strengths- Strengths include expanding interest, strong customer demand, various product verticals, and in-depth understanding. Weaknesses- Limitations on shipping, numerous regulatory murky areas, and complex cross-border expansion are weaknesses. Opportunities- Learn how to create partnerships to run B2B or B2C companies successfully. Threats- Regulatory problems when selling across borders and failing to source products with valid test certifications pose threats. Identify Market Gaps At first sight, it could appear that the best eCommerce categories have already been taken. But that is untrue. Unfulfilled consumer demand can be found with specialised research even within well-liked product categories. To identify gaps in your target market, utilize- Social Media- Analyze the concerns, grievances, and recommendation requests made by your target audience on social media.Google Trends- Use Google Trends to analyse and evaluate the evolution of search volume for various product categories.Look at the best-selling items on Amazon and eBay- Read the reviews to find out what the customers think is missing or what they have to say. Conduct Market Research You can find out what your target audience wants, needs, or lacks through internet market research. The first step in launching your own online business is market research. It aids in determining the breadth, viability, and competitiveness of the chosen business vertical. You don't want to launch an offer that no one will be interested in purchasing. The market research also supports your product concept, pricing, and demand validity. How to begin conducting market research is as follows: Check The SERPs Analyze the search engine result pages (SERPs) for the different spellings of the keywords that describe your goods or services. What kind of material currently appears on page one of the search results? Which companies are spending money to advertise above organic search results? You may evaluate your competition more effectively by doing this. Obtain data for a draught SEO and digital marketing strategy based on the types of content that your target audience enjoys. Study the Competitors Additionally, you should focus on your principal rivals (beyond SERPs). For example, what are the largest business endeavours in your specialised field? What kind of income do they earn? What are their advantages and disadvantages? In addition, you should take notice of how and where your target market often purchases goods and the most effective ways to reach them. B2B eCommerce- Do you anticipate doing more business with retailers, wholesalers, and corporate clients?B2C eCommerce- Selling on popular online marketplaces like eBay, Amazon, or Etsy gives you access to various audiences right out of the gate.Dropshipping – With this business strategy, a third party fulfils orders instead of you, allowing you to avoid maintaining your inventory.DTC – The direct-to-consumer business approach does away with the middleman (multi-brand retailer or wholesaler). Decide Target Audience The population on whom your marketing efforts are concentrated is known as the target audience. Knowing your ideal customer is essential when you start an online store. It simplifies acquiring new clients and draws interested customers to your website, increasing conversion rates and boosting sales. Depending on the kind of products you want, you can create an audience of any size or characteristic. As a new entrepreneur in e-commerce, you should focus on these three primary areas- Demographics- Age, gender, occupation, education, and income.Location- Groups segment the market according to location, allowing you to serve a particular region better.Interests- Built on psychographics and contains your audience's views, personalities, ideas, and way of life. Choose an eCommerce Website Builder An eCommerce platform is essentially a website builder. However, it includes many other capabilities to help you expand your online business, improve the client experience, and utilise it to create your website. Most eCommerce platforms will almost provide you with everything you need, negating the need to invest in third-party programmes, from email marketing to inventory management to order fulfilment. Here are a few key elements to keep an eye out for when choosing an eCommerce platform to power your site. It should be simple to use, to begin with. Look for a platform that has a drag-and-drop website builder if you are extremely new to this. This makes it much simpler to comprehend and apply. If the platform has integrated web hosting, that is an additional bonus. If not, a third-party solution will be required. You should also think about it from the viewpoint of your clients. Will they have an easy time making a purchase? Consider payment alternatives and page speed to help create a seamless customer experience. It is best to take a wide range of currencies and payment methods. Additionally, setting up a demo or utilising free trials can be a smart move (most eCommerce platforms provide this). This will enable you to evaluate the responsiveness of the customer service as well as have a better understanding of the user interface. You might not think that customer service is essential, but if you have a problem later, you'll see how crucial 24-hour support is. A few of the top eCommerce website builders are Shopify, WooCommerce, BigCommerce, Builder.ai etc. Choose a Domain Name For Your Online Store You probably already have an idea for a store name. If not, creating a list of phrases related to your niche and products will help you create a name for your online store that fits. Perhaps you can tie your name into a very special selling proposition. The difficulty with naming an internet store is that you'll also need to consider search engines. However, you can immediately experience a significant improvement in search rankings by incorporating words your target audience will probably use when looking for your products online. You may, for instance, include the product type or category in your company name. The domain name, often known as the website address, needs to be still available, which is a significant difficulty. Be aware that many people purchase well-known domain names to sell them later. So you might need to use your imagination to discover an appropriate related domain name. The ideal situation is for your domain name to match your company name perfectly, which is not required. However, it will not only be much simpler for your target market to locate your store, but it will also aid with brand recognition and awareness. Design the Website This part is interesting. Your originality can shine in this situation. Designing a store that is both well-branded and conversion-optimized is the key in this situation. In addition to being delighted by the appearance and feel of your store, your consumers should be able to locate your products with ease and confidently make a purchase. Consider these points before designing your website- Consider the structure of your website very carefully. Look at how other well-known companies and merchants employ shopping carts, filters, breadcrumbs, and navigation menus to create a seamless user experience. Avoid overcrowding any navigation bar or page, and focus on the search habits and jargon that your target audience will understand. Adhere to the three-click rule. Generally, your products should be reachable in three clicks or less. In other words, it should be simple for customers to navigate from your homepage (or any other landing page) to the product page they're looking for. To locate what they're looking for, customers shouldn't have to go through numerous layers of your website. Don't forget to include essential links in your footer, such as those to your shipping details, return policy, and contact information. Use a template for an eCommerce website. No need to create anything altogether fresh. Many platforms provide a variety of templates for online stores that may be altered and personalised to ensure that your company has an entirely distinctive appearance. The significant components your store will require are already included in these templates, saving you the time and effort of starting from scratch. Make it clear what you are selling. When visitors arrive, they should already be aware of what you sell. While your off-site marketing and promotion initiatives need aid, you should reassert your area of expertise through straight page titles, unambiguous search menus, and compelling graphics. Optimize Your Online Store with Product Listings Setup your product category pages, create compelling product descriptions and upload photographs of your products that will sell them to make your store a pleasure to browse and your products simple to find. Components to consider for optimizing product listings while you setup an online store- Product Title In addition to being attractive, a product title should make it obvious what a customer is purchasing from you. Therefore, keywords are frequently used in titles to make it simpler for readers to search for the products using pertinent keywords. Along with the main keyword, you can include additional terms. Product Description Describe the item you are trying to sell. A description frequently aids in decision-making. Therefore, you must make sure all the viewers' inquiries are addressed. Surface descriptions, colour, size possibilities, variants, and other relevant parameters are all included in descriptions that are tailored to the products you are selling. Usually, the description is around 50 words. Product Images For making decisions, a viewer searches for detail in the images. Ensure the images are crystal clear so clients buying the products have no questions. To finish poses, use close-ups and adequate lighting. Product Price Mention the MRP at which you are supplying the final consumer with the product. Since this is the ultimate price you are providing, the MRP not only pays for your expenses but also gives you room for profit. Therefore, pricing must be done while taking into account many things. Product Reviews The reviews left by past customers for the same products are located beneath the section. As is often said, nothing promotes a product or service like a customer's personal endorsement. Positive reviews can be used as a marketing tool, and you can learn from negative ones to improve your product. Setup Shipping When you run an online company, you must ship every single order you get, unlike traditional brick-and-mortar stores where you might need to do so sometimes. As a result, you need to give shipping some significant care. You should consider several things, such as it can make more sense to use a flat fee if you mainly sell small, lightweight items because it will be simpler to budget for your shipping expenses. In addition, the consumer can choose from various shipping alternatives, such as same-day delivery, shipment within one to three business days, etc., if your eCommerce platform interfaces with some of the top shipping carriers. As a result, customers will find the selections easy, and you'll never experience a loss because of the live price. Offering free shipping has a lot of benefits despite this. eCommerce data show that extra fees like delivery are the leading cause of online shoppers leaving their carts unfilled. Additionally, shoppers favour one online retailer over another due to its free delivery option. In actuality, customers favour free delivery over expedited delivery. If you only intend to operate one or two locations, you could also offer local consumers the chance to place an online order and free in-person pickup from one of your locations. Contact WareIQ for Fulfillment and Logistics Solutions. Connect a Payment Platform As previously stated, offering a range of payment options is ideal when you start an online store. Although most people still make payments using credit cards, payment figures provided by Statista show that PayPal is the most popular choice for online shopping. It's a good idea to look into using buy now pay later (BNPL) services like Klarna, Amazon Pay, and Afterpay, in addition to accepting Visa, Mastercard, and PayPal. Alternative payment options are now seen as a requirement for any online business. Deploy Your Marketing Strategies Marketing is essential for when you start an online store in the market and advertise your seasonal deals. Digital marketing, content curation, SMO, and SEO are a must and a constant effort for you if you are starting an online store. Well, it depends on the type of business you are pursuing. There has been much discussion around the online marketing and sale channels you may use to advertise and sell deals. Considering that sales can now be accepted at your store. Now is the moment to begin proclaiming it through campaigns. Utilize a range of marketing techniques to draw clients to your online store. Content Marketing The process of developing and sharing content for blogs, podcasts, quizzes, infographics, and videos is known as content marketing. Despite not openly promoting your brand, it helps raise interest in you and your offerings. Although content marketing is a long-term strategy, it is effective. Building audience trust and interest in your brand by creating helpful content is essential. Additionally, the possibility of your material going viral is always present. Email Marketing You can market to an email list, which is one of the finest advantages of email marketing. Your email list often includes subscribers or opt-in members, so you speak directly to those who are already interested in your business. You can invite users to join your email list through links in your content, a form on your website, or your social media platforms. Once you've established an email list, you can always remarket to your audience. Sending out newsletters, exciting updates, special deals, and other things is possible. Emails also enable segmentation and automation, saving time and adding a personal touch for your consumers. Search Engine Optimization Search engine optimization (SEO) must be included in every list of internet marketing tactics. Although SEO isn't the most entertaining marketing strategy, it does improve website visitors from organic search results. And if you own an online store, you want as many high-quality site visitors as possible. Understanding your clients' language while looking for information online is the key to successful SEO. For example, what keywords may people enter to find related products? What queries can your products address for them? First, create a list of keywords, then incorporate them into the pages and content of your website. Additionally, it's crucial to employ title tags and meta descriptions on each page of your website. With this information, search engines and users can better understand the page's subject matter. If you don't have much experience with SEO, you can work with a professional to develop a plan and improve your online store. Paid Marketing Channels Last, paid adverts are a tried-and-true method of making sales online. You might choose to launch a digital marketing campaign on Facebook or another well-liked social media site by your target market. Spend money on retargeting advertisements, which go after customers who have previously visited your store but are left empty-handed. These advertisements frequently work since the viewer is already acquainted with your goods and has given them some thought in the past. Most visitors to your website don't buy anything on their initial visit; retargeting advertising encourages them to do so. You will include a piece of code called a pixel to track who visits your website and what pages they view. Retargeting advertising then shows your ad to the visitor on websites like Facebook or Google, frequently prompting them to return to your store and make a purchase this time. Influencer Marketing While often pricey, working with influencers is a social commerce technique that frequently yields impressive results. This is because influencers generally have a sizable online following and the power to "influence" the purchasing decisions of others. If you collaborate with an influencer, pick someone whose fan base corresponds to your intended market. Additionally, you should research to ensure the influencer's principles align with your company's. Influencers can write reviews, talk about your products at events or in videos, share pictures of themselves using your items, and create guest blogs for you. Link your selling platforms, as usual, to let influenced customers know where to purchase your goods. Conclusion Starting an online business need not be difficult. Consider each step as it comes. Investigate a market niche for e-commerce and popular goods first. Establish your business model and fulfilment plan next. Start setting up your web business after that. Select an online store platform, customise the look, and add products to your collection. Pay attention to increasing traffic to your online store. As soon as your company starts operating, be sure to gather as much information as you can. Analyze the data afterwards to learn more about what functions and what doesn't. Adapt your company plan as necessary. Nowadays, you can sell anything online, including handmade goods, courses, graphic design services, custom-printed clothing, baked goods, and more. As you can see, when you follow the procedures outlined above, opening an online storefront will be simple. What Makes WareIQ the Best Choice For Your Online Store's Fulfilment and Distribution Requirements in India? If you're prepared to expand your online store's geographic reach effectively and economically, WareIQ's distribution and storage services can manage all aspects of inventory distribution. WareIQ employs its warehouse management system (WMS) and logistical know-how, along with its increasing fulfilment distribution network, which consists of numerous fulfilment centres and dark shops around the nation, to assist you in scaling your business more successfully and with less effort. To improve supply chain efficiency, WareIQ, a 3PL distribution partner, offers ideal recommendations for the warehouse where your products should be stored. As soon as an order is placed, it is immediately sent to the customer's nearby warehouse. WareIQ will then take care of order processing, order fulfilment, and delivery, allowing your team to focus on the more crucial goals of your company. You can monitor inventory levels across more than 12 eCommerce marketplaces using a single dashboard in real time. In addition, it provides full visibility into warehousing costs, transit times, and other statistics. WareIQ is a best-in-class warehouse management system for brands that need assistance managing inventory in real-time, reducing picking, packaging, and shipping errors, and wanting to scale with simplicity. [signup] Frequently Asked Questions How do I start an online store?To start an online store, you must create a company plan, decide on your items, and organise your logistics. Then, pick an eCommerce platform to fulfil your functional requirements without significantly costing money. Do I need to use a developer to start an online store?No, not always. Some platforms, such as WordPress and Wix, make it simple to launch an online store with little to no development help. When you begin to scale, you might want to hire a company or independent developer to assist with making client-friendly adjustments. How can I make an online store successful? Four criteria — product quality and relevance, e-commerce website functionality, price strategy, and focused marketing campaigns — are essential to the success of an online store. Make sure you find things in high demand, price them fairly, advertise to the appropriate target market, and provide a fantastic online shopping experience. What does it cost to start an online store?The price of setting up an internet store depends on the company's requirements and any additional features you'll need. The average cost to set up an e-commerce store ranges from a few hundred dollars for some to tens of thousands or even several hundred thousand for others.You will need to pay for the following: store themes and designs, add-ons, extensions, payment processing fees, eCommerce software, domain name, hosting, SSL certificate, and eCommerce services. Can you start an online store for free?Although you can download certain eCommerce software for free, there will never be a fully free way to establish a website. In addition, if you're using open-source software, which you can usually obtain for free, you'll be in charge of your maintenance, security, and hosting. Take into account any apps or add-ons you might need. How successful are online retailers?Your initial outlay, the profit margins on your product mix, and the amount you spend on marketing, advertising, operations, and shipping will all have a significant impact on your capacity to turn a profit. Is it possible to start an online store without any inventories?Dropshipping allows you to operate an internet store without maintaining an inventory. Decide on a manufacturing or supply partner, then discuss the price and shipment details. Then, after a sale, provide them with the shipment details and post their merchandise on your online store.
September 21, 2022
Top 6 Social Commerce Platform Examples That Can Transform Social Media Into Revenue Generators in 2023
The social commerce platform is a prominent marketing and sales strategy among eCommerce and online firms that have grown in popularity recently. Businesses and brands continually search for ways to include social shopping in their marketing initiatives. As a result, the size of the global social commerce industry, estimated to be worth USD 589.91 billion in 2022, is expected to increase at a CAGR of 30.8% from 2023 to 2030. If you run an online store, you are aware of the difficulties in attracting customers to your website. But, even if you can convince a handful of them to buy from you, how regularly do they do so? The social eCommerce revolution has eliminated the need for significant upfront investments and the difficulties associated with eCommerce expansion by bridging the gap between engaging consumers and turning them into customers. We now refer to a social commerce platform due to the growth of social commerce. Learn about social commerce platforms and how they can revolutionise your brand's online sales and success. What is Social Commerce Platform? The ability of brands and organisations to sell goods and services through social commerce platforms, content, and other features is perhaps the best way to describe a social commerce platform. Social networking has historically been utilised as a marketing technique to boost eCommerce sales and conversion rates. With social shopping, customers no longer have to transfer eCommerce platforms; thus, things have changed. Without leaving the social media site, the entire process of investigating a brand's items, looking at the specifics, and finally checking out is completed. Brands uploading content with shoppable tags on it is where it all begins. First, users select the products by tapping on the shoppable tags whenever they come across these postings. Then, they proceed to the checkout page by following a few simple steps. The evolution of social commerce platforms has allowed businesses to extend social shopping options outside social media. On their websites, in email campaigns, in e-commerce stores, and elsewhere, marketers can create and distribute shoppable social galleries. Platforms for social commerce have experienced a considerable surge thanks to their user-friendly characteristics. [contactus_uth] What are the Benefits of Social Commerce Platforms? There are many advantages for businesses that develop a presence on social commerce platforms. For starters, social commerce platforms give firms looking for steady audience growth a ready-made following. Facebook, Instagram, TikTok, and other social networks welcome new users daily. For businesses involved in social commerce, each new user represents a possible new consumer. Although the "clients" must be pertinent to the company to be valuable—for example, stairlift sellers are unlikely to benefit from new teens joining TikTok—brands are nonetheless likely to come into contact with prospective new customers every day. Social media brand engagement has been shown to improve search engine rankings. Even if you sell directly on a social media platform, some users will visit your website to look at your products and other stuff. Google will see this extra traffic, likely affecting how well its searches are ranked. Communication with potential clients is encouraged through social commerce platforms. You have the chance to get customer feedback because social media is a two-way conversation. Word-of-mouth spread through social media can help you meet more individuals. By fostering new connections, you can later develop and strengthen these connections. This is what a social commerce platform does. Purchases from satisfied clients are more likely to occur. Top 6 Social Shopping Platforms Examples to Step Up Your Online Business Other social media platforms like Pinterest, TikTok, and even Snapchat increase their offers, while Instagram and Facebook continue to set the bar for social commerce features. Every social commerce platform has unique advantages that characterise how it approaches serving a particular purpose and attracting a certain audience. To help you choose the finest social commerce platform for your company, we'll examine some of the leading platforms' essential aspects here. Facebook Source Meta's Facebook has recently led the way as a social commerce platform. Brands now have the opportunity to build online storefronts or stores where customers can browse and eventually make purchases from within Facebook, thanks to the platform. The 17-year-old platform has massive potential for utilising new audiences and growing internationally, with roughly 3 billion monthly active users in 2023. Facebook Shops helped small and medium-sized businesses shift online and establish shoppable storefronts when it was launched in 2020 during the pandemic. You can upload an already-existing product catalogue or make a brand-new one on the website with Facebook Shops, which are entirely configurable, free to use, and mobile-friendly. The online shopping features Facebook Marketplace, Native Checkout, and Live Video Shopping have all been combined into one product called Facebook Shops. According to Facebook, "any seller, no matter their size or budget, can bring their business online and engage with customers wherever and whenever it's convenient for them." In addition, businesses may establish custom collections and categories within Facebook Shops to reach customers better. Facebook personalises the customer experience once they have located your page and products by showing products based on the shopper's specific tastes and search history. The customer can finish the transaction on the Facebook platform or return to your e-commerce website. Additionally, you can contact the client via Facebook Messenger if necessary to respond to inquiries and provide assistance. There are still ways to use this social commerce platform if a firm doesn't have access to Facebook Shops or Facebook's native checkout. In addition, users can purchase from local and online merchants using Facebook Marketplace without leaving the Facebook app. Explore Dynamic Ads, Collaborative Ads, Collection Ads, and Product Tags to increase the visibility of your products if you want to monetize your social commerce platform activities on Facebook. Related Article: How to sell on Facebook ? Instagram Source Instagram claims that one in two users use the app to find new businesses, goods, or services. In addition, 44% of users shop weekly on the platform. As a result, Instagram is a terrific tool for brands to reach a wider audience and sell more goods, from boosting brand recognition to offering a better online shopping experience. Users can purchase items from Instagram Shops featured in photographs and videos throughout the app. Like Facebook, business accounts allow users to display their products through a resizable online storefront. Here, businesses may put up carefully crafted product collections. Every item in an Instagram Shop catalogue has its page, complete with a price, a thorough description, and any images or videos showcasing it. Firms can use Instagram Shops in various ways to market their goods. Following are a few of Instagram Shop's best attributes: Shopping labels- These let businesses tag their goods in feed posts and Stories.Purchase tab- Instagram users can explore, save, and buy products featured by companies or influencers here.Advertisements- Businesses can now build Instagram ads with placements on the shop tab. Users can tap through to the storefront or detailed product description by tapping the advertisement, which will display with a sponsored label.DM your purchases- Businesses on Instagram allow users to make purchases. Customers can inquire, make purchases, and follow up on their orders. Related Article: How to Sell on Instagram? Tik Tok Source TikTok, a newer competitor in the social shopping platform, is becoming much more than just a tool for sharing brief videos. With the addition of shoppable posts, live stream shopping features, and influencer marketing opportunities, TikTok has become a social commerce platform to be noticed. By 2025, the video-sharing platform is expected to have 48.8 million US users. TikTok has shopping features, including shops, product tagging, and live shopping. This update would include, according to TikTok, "a range of solutions, features, and advertising tools that empower companies and merchants to engage with their customers effectively." The features of TikTok updates included: Direct Integration- Merchants may upload products and control everything from shipping to order fulfillment and point of sale, giving them access to a whole commerce experience.Partner Integration- Shopify and PrestaShop are now accessible on the platform for businesses who appreciate working with their favourite third-party commerce partner. Product Links- Brands can feature one or more goods in an organic TikTok video by including a link to the product details, which users can access immediately.LIVE Shopping- Businesses can share dynamic connections to goods and services while interacting with their community in real-time.Collection Ads- In their in-feed video advertisements, brands can insert unique, swipeable product cards.Dynamic Showcase Advertising- Based on the user's interests, brands can show them customised, targeted ads. However, marketers now have the opportunity to use TikTok's Shopping page to create a shoppable storefront. Users of TikTok can directly connect their static product inventory and enable in-app purchases for their customers by adding the Shopping page to their company profiles. Pinterest Source The majority of users of Pinterest are more interested in the content than the creator, which is its best feature. As a result, Pinterest helps business owners focus more on developing exceptional products and less on building their reputations, as opposed to social media platforms like Instagram and Facebook, where a user's or brand's influence may be more crucial. 75% of regular Pinterest users claim to shop constantly. Users of Pinterest are quite active and frequently use the app to begin their buying journeys. Its improved social commerce features make it a fantastic site to shop for goods and a fantastic hub for discovering inspiration. Additionally, brands can use various advertising options on Pinterest to highlight particular products, such as Dynamic Shopping Ads, which show single image advertisements for products relevant to users' interests, which include helpful information like delivery estimates, customer reviews, and special offers. Shoppable Collection Ads, which combine lifestyle photography and video for a better buying experience and allow marketers to link up to 24 products, are another alternative. Pinterest offers various shopping features, including- Shop from search- Users can access a Shop tab that delivers 100% shoppable results when they use specific keywords to search Pinterest.Shop with lens- Utilize the Pinterest camera to capture real-time pictures of objects in the real world, and the app will display similar, shoppable things.Shop from pins - Users will be presented with shoppable products displayed in the clicked image when they click on a pin.Product pins- When users click on a product, Pinterest displays pertinent details like the cost, shipping information, and customer reviews.Shoppable spotlights- This category showcases hot items hand-picked by industry insiders.Shop from boards- Users can browse a separate Shop area on their boards that display in-stock product suggestions inspired by their pinned items. Shopping List is a new social commerce function that Pinterest also introduced. This more recent feature automatically saves a user's product pins into the central hub so the pinner may easily retrieve them when it's time to make a purchase. In addition, users can check product prices, ratings, and pinners can be notified when a product on their shopping list becomes less expensive. Snapchat Source Snapchat is embracing social commerce in fascinating and original ways. The social media network relies on augmented reality (AR) to connect with customers freshly and interestingly. For example, brands can collaborate with Snapchat to develop lenses that users can use to try on clothing, accessories, makeup, and more. Users can then read product details and click a link to purchase using a brand's web store or Snapchat's native checkout. "Snapchatters are already engaging with AR more than 6 billion times every day, and 93% of them are interested in using AR for commerce," Snapchat recently stated. Additionally, the business unveiled a new shopping lens in January that allows consumers to browse various products in one location. Users will "view details on pricing, colour, sizing, and related items, right from the retailer," according to their statement. With the assistance of their scanning partners, Yuka and Vivino, Snapchat is also introducing new scanning features. The software allows users to scan up to 1 million food items to view nutritional data, components, and links to further reading and product purchases. Additionally, Snapchat offers more conventional shopping options. In 2020, Snapchat said that certain accounts would be able to launch a store within the app, powered by Shopify, to house more long-lasting content like catalogues, lenses, and online storefronts. According to a Snapchat announcement, more companies and brands can now create profiles with shopping links, which were previously only available to specific marketers and brands. These accounts allow users to access the stores straight from a profile within the Snapchat app by having the Shop button on their Snapchat profiles. Finally, brands can use a range of advertisements to encourage conversions from the app quickly. With the help of Dynamic Product Ads, Snapchat claims that "you can cast a broader net on the app and find potential customers by presenting them relevant products built directly from your product catalogue." Twitter Source Twitter provides eCommerce firms with a vast potential audience thanks to its more than 330 million monthly active users. The platform is tapping its toes into social commerce, but they are not entirely new to the game. The site is primarily renowned for sharing news and short tweets with a broad audience. Twitter used to offer a direct shopping option on its website. However, in 2017, they removed the "Buy" button. Since then, Twitter has recognised the value of social purchasing and unveiled new features last year, including a "Shop" button on tweets and a Twitter Shopping Card that would help them gain a stronger foothold in the expanding social shopping sector. Twitter only recently revealed a beta test for Twitter Shops. According to Twitter, "merchants can hand-pick a collection of up to 50 products to present to buyers on Twitter with Twitter Shops. In addition, people may examine products from the profiles of their favourite brands, thanks to the function, which is free to use. Conclusion Unbelievably, eCommerce has been implemented into social networking platforms, and these social commerce platform trends aren't going anywhere. Brands fully utilise it, so you don't need to fall behind. As we conclude, perhaps you now better understand some of the best social commerce platforms and the benefits they can have for your brand. If you haven't already started building your social shopping account, you might be left behind. WareIQ As Your Distribution and Fulfilment Partner With the help of WareIQ's fulfillment services, you may more easily and cost-effectively distribute your products among many regions, save shipping expenses, and achieve 2-day delivery. B2B and B2C businesses may swiftly and inexpensively grow their operations across the nation with WareIQ's extensive fulfillment network. Our analytics enable merchants to choose the optimal inventory mix to satisfy customer demand while avoiding stockouts, backorders, and deadstock. WareIQ provides total visibility into business activity throughout the distribution network, driven by top-tier fulfilment technology. You can entrust order processing, fulfillment, and delivery to the capable hands of WareIQ. From a single dashboard, retailers can monitor inventory levels in real-time, track orders through the supply chain, manage warehouse operations, and more. To further enhance your 3PL experience, WareIQ also assists you in keeping an eye on key metrics at each location you use, such as inventory turnover, order accuracy, time in transit, and on-time accuracy. Using this data, you may identify areas that need improvement and improve supply chain management for success wherever you work. [signup] Frequently Asked Questions What is a social commerce platform?Social commerce platform is known for selling goods and services utilizing social interactions. For firms seeking steady audience development, social commerce offers a ready-made audience. Social networking is used for shopping, from finding products to finishing the checkout. How is social commerce carried out?Social commerce fully incorporates online purchasing into social media. Customers can locate, browse, and buy things using their preferred social media networks without leaving the site.Social commerce platforms' built-in shopping features, like Facebook Shops, are essential to social commerce. Ecommerce interfaces with systems like Shopify are another option available to them. Why is social commerce platform so crucial?Social commerce platfrom provides a seamless purchasing experience by allowing firms to sell their items directly on social media networks. When shoppers see things they like on social media, all they need to do is click through to checkout without leaving the app. This speedier and more practical experience decreases the likelihood of abandoned shopping carts. What are the features of social commerce platforms?User recommendations, customer ratings and reviews, social shopping experience tools, social apps, marketing, and social media optimization can be carried out on social commerce platforms.
September 19, 2022