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10 Best Social Commerce Trends to Watch Out For in 2024 & Beyond

10 Best Social Commerce Trends to Watch Out For in 2024 & Beyond

In recent years, social media platforms have included features such as shoppable posts, storefronts, and in-app transactions, indirectly making social platform feeds and social commerce trends sales generators for eCommerce brands.  According to recent Sprout Social statistics, nearly two-thirds (68%) of customers have purchased directly from social media, and almost all (98%) plan to make at least one purchase this year through social buying or influencer commerce. With social commerce expected to be a $1.2 trillion channel by 2025, the research demonstrates the considerable possibility that companies cannot afford to overlook. Leading marketers leverage social media's massive reach to sell directly to consumers via their chosen social channels. Social commerce trends aim to make shopping lucrative, as feasible and quick as possible for people to buy the things they see while browsing their social feeds. What began as internet advertising and influencer selling has grown into a multibillion-dollar industry that is only growing. Here you will discover important social commerce trends for 2024 and beyond that will boost your brand's sales, marketing, and growth. How Does Social Commerce Work? Direct product sales on social media platforms are the focus of social commerce. Customers can interact with brands, browse items, and buy without leaving social media. Instead of going to a brand's website to complete their purchase, as opposed to social media marketing, social commerce typically refers to people making their purchases directly on social media. Facebook, Instagram, and TikTok are some examples of social media apps with built-in eCommerce capabilities. [contactus_lilgoodness] Social Commerce's Advantages Just a handful of the main benefits that social commerce offers are listed below. Easy Purchasing Option Social commerce allows customers to check out from any location without being forwarded to a different website. The path to buying is streamlined by eliminating extra stages. Customers frequently store even shipment and payment information. Removing friction from the consumer experience is likely to increase conversions. Huge Market Size Nearly five billion people use social media worldwide, and many utilise these platforms to look for products. This implies that brands can reach a sizable number of people ready to buy across all geographies and demographics. Choose Your Buyer Personas  Social media networks offer a sizable audience, a plethora of user data, and unparalleled product ad targeting. As a result, businesses may personalise consumer experiences and increase revenue. Improve Both Revenue and Brand Awareness Customers who have recently learned about your company may convert as awareness, consideration, and conversion all happen on the same platform. And even if they don't, they'll probably think of your company in the future. Evolution Of Social Shopping Trends Social media users frequently scan through their newsfeeds. This forced businesses to be everywhere to do business, especially on social media platforms, successfully. Indisputable strategies for the eCommerce sector and social shopping trends have grown and will keep expanding in the following years. Speaking of statistics, Gen Z is leading the way in driving sales for Instagram and Snapchat as they spend 2x as much on social media as the average customer. On the other side, Gen X is more likely to use Facebook. Additionally, the popularity of user-generated content (UGC) and consumers' dependence on and trust in it gave brands another justification for moving their marketing to social media. In conclusion, you may look at a few social commerce trend examples to see how it is practical, alluring, and readily generates conversions for the brands. Top 10 Social Commerce Trends to Acknowledge in 2024 & Beyond Discover the top social commerce trends for 2024 and beyond that will undoubtedly open the door to successful social marketing and increased ROI. Creating Personalised Social Shopping Experience On Facebook Source Facebook stores are one of the most well-liked social commerce trends, and it has the benefit of being a well-known and widely utilised social channel. Additionally, there's a chance that your company already has a presence on the network, enabling you to benefit from several social commerce trends without effort. One fantastic aspect of utilising Facebook for social commerce is that Facebook Shops are customisable, allowing you to design an experience that's unique to your business and consistent. The typefaces, colours and artwork may change, and you can import an existing product catalogue from your website. With Facebook Shops, you can also communicate with clients on other Facebook platforms, such as WhatsApp, Messenger, or Instagram, to respond to their inquiries or provide help. Create A Visual Social Storefront With Instagram One of the most well-liked social commerce trends, shoppable Instagram, is employed extensively by brands to transform their Instagram feeds into shoppable stores. 60% of users, according to Instagram, find new products on their platform. Additionally, customers claim that when they were moved by something they saw, they immediately set out to discover and purchase it. So, if you've already created a Facebook Shop, you should also think about Instagram Shopping (you will need to set up a Facebook Shop first; your Instagram Shop will be pulling data from your Facebook catalogue). It's generally accurate to argue that having things that could be visually noticeable in consumers' newsfeeds makes it more compelling to establish a presence on Instagram. Instagram Shops enables you to build a personalised storefront where you can highlight particular product ranges and collections. Shopping tags, for instance, let you highlight products from your catalogue in Instagram Stories and the newsfeed, allowing users to view more details and purchase options immediately. eCommerce businesses can design and publish interactive ads that make it simple for users to click and shop, lowering the possibility that they will give up on their purchase and switch applications or sign in to an unidentified store. Single-Click Social Buying Source The more stages you add between the customer and the checkout process, the greater the likelihood you will lose them. This is true for all points of sale, including the opt-in forms. The procedure must be kept efficient with an optimised website at all times. In addition, make it more interactive and intuitive to give users a seamless and simple experience across the purchasing process. Here, you can integrate your website's landing pages and checkout processes with social stores to shorten the lengthy and laborious purchasing processes. For advertisers, this should be based on a discrete one-click buy approach mainly targeted at mobile user purchasing scenarios. With payment options like Stripe, you can quickly get a simple checkout design for socially connected online purchases. Make sure social sign-ins are enabled while you're doing this so users can easily register and place orders without having to make the extra effort to navigate across pages and create new credentials. Leveraging Descriptive Livestreams To Increase Engagement & Sales Source For various purposes, including exhibiting new products, disseminating instructions or user manuals, engaging in topical subject discussions with industry insiders, conducting interviews, and more, live streaming is becoming increasingly popular among numerous social commerce trends for businesses. High-definition videos are not required; low-budget films are also quite successful as long as they can add value. Live streaming allows viewers to engage in an authentic and interactive experience that will help them learn more about the company. The most attractive feature is the ability to save live streaming for later use and continue conversations in the comments. This is how businesses can leverage live-streaming products on social media platforms as one of the many social commerce trends. Chat Commerce with Chatbots Source Conversations between people started to be facilitated by social media, which is the only explanation for the explosive growth of connectivity platforms like Facebook and WhatsApp. Moreover, by upgrading AI capabilities through chatbots, brands are already gaining a competitive edge in costs and sales. Using chatbots, brands can answer client questions without having a live person present. Then, depending on the choices made by the clients, it can offer advice, share product images, and, if necessary, request human support. More than ever, users are drawn to personalised experiences. As a result, chatbot adoption is a social commerce trend because consumers interact more with companies that respond quickly and accurately. According to research, consumers spend more money when their buying experience is individualised. However, doing this at scale can be challenging, particularly in social media, where you have little to no influence over the technical setup of the channel. Using chatbots is one way to address the customization issue. However limited their ability can be in detail, chatbots can quickly respond to customer queries. They can also save time and money and foster a sense of trust, which has numerous advantages for businesses. 5G Connectivity Extended Reality (XR) The ongoing global rollout of 5G wireless connectivity will improve social commerce trends, edge cloud computing, and cutting-edge AI. It will make it possible for fully immersive experiences to be seamless on a range of linked devices. In the U.S., there will be 101.6 million AR users in 2022, up from just 83.7 million in 2020, according to eMarketer data. However, if businesses successfully leverage cutting-edge technology and the power of 5G to give customers more immersive shopping experiences, this growth projection will likely be exceeded. Micro-Influencers Assisting Brands in Expanding Their Reach Source Although it isn't a new social commerce trend, working with micro-influencers is essential now and will be in 2024 and beyond. Micro-influencers, particularly for small firms, can help them better balance advertising costs while reaching a larger audience. Contrary to specific well-known influencers who work with brands at prices even small businesses can afford, micro-influencers have tens of thousands to millions of followers. They have particular audience groups, which makes ad targeting and segmentation easier. Additionally, they are frequently seen as more honest and open about sponsored relationships than significant influencers. Given all of these elements, micro-influencers unquestionably influence how well brands generate conversions. When working with micro-influencers, pick individuals who are specialised in your field and whose audience resembles your target demographic. Look for individuals who have built ties with their devoted following and interact personally with their audience. Conversational Shopping and Voice Technology Are A Social Commerce Trend  As it can often be handier than typing, voice search is favoured by many Millennials and Generation Z. People who use speech technology for searching are also more likely to make purchases using that same technology. Voice technology is a feature of Android and Apple products, and their voice assistants become more sophisticated with each iteration. However, as standalone devices like Amazon Alexa and Google Home grow more common, businesses must leverage voice technology to improve customer engagement and stay competitive. Voice-enabled eCommerce sales are anticipated to grow from this year's $4.6 billion to $19,4 billion in 2024, according to Statista. In just two years, that is a more than fourfold gain. You wouldn't want to miss out on that substantial market share. This makes it the ideal moment to prepare your company's image for voice technology, including conversational commerce and voice search. User-Generated Content: A Popular Social Commerce Trend  Social media is primarily about individuals communicating and exchanging information. While this would at first appear to be at odds with social commerce, as long as firms refrain from hard-sell tactics or overt advertising, there won't be any issues. Of course, businesses have been using social media to advertise for years. People increasingly recognise Facebook Ads as a valid component of the site. However, it should be highlighted that the most prosperous firms don't produce conventional advertisements. They are less overt and "in your face." To add value to individuals exposed to these advertisements, brands frequently include pertinent and valuable information about a product. Any content that resembles conventional advertising is typically ignored and scrolled over by social media users. User-Generated Content (UGC) has proven to be advantageous for businesses recently, and this will only improve going forward. It gives social media users the impression that they are collaborating with a brand with an identity rather than merely receiving messages. A social marketing campaign's potential reach is increased since people are far more likely to share messages incorporating UGC. The fact that UGC is a social commerce trend and can more successfully change people's attitudes is its additional benefit. This material is not merely a brand pushing itself because it was made by a person seen as impartial and hence more reliable. On the contrary, it suggests a substantial degree of confidence. Ephemeral Content Source Ephemeral content is just transient content that exists online for a brief period before disappearing. The short content known as "social tales" is currently quite popular on Facebook, Instagram, Snapchat, WhatsApp, and, most recently, LinkedIn. When Snapchat first debuted this concept seven years ago, it quickly gained immense popularity. It exploded in popularity and is being incredibly well-liked by social media users. The FOMO (Fear of Missing Out) impact was very effective! It would help if you embraced this social commerce trend to stay socially engaged and keep your people interested in your eCommerce firm. This will increase the likelihood that they will visit your product pages on the website and will lengthen the average amount of time your audiences or followers spend on your social media profiles. This is a fantastic technique to improve online user experience and confirm increased traffic and visit-time metrics to increase store revenue. Conclusion Retailers and online sellers must adapt because the eCommerce sector is always changing. To stay ahead of the curve as consumer buying power increases globally and social media blurs the line between information and commerce, businesses must forecast future social commerce trends. With the development of infrastructure and technology, the future of eCommerce in 2024 and beyond shines brighter than ever. How WareIQ Simplifies Social Shopping Fulfillment? Don't let the difficulty of social commerce fulfillment scare you away from the current market or keep you from expanding your market share as your company develops. WareIQ will assist you in diversifying your sales channels with specialized advice on how to set up a social commerce fulfillment. You can automate order fulfillment across social commerce platforms when you work with WareIQ, track inventories in real-time from a single dashboard, and save time and money by outsourcing logistics to professionals. WareIQ's warehousing and fulfillment network, which consists of automatic dispatch, intelligent inventory placement, real-time inventory tracking, speedy fulfillment, and inward inventory processing, enhances eCommerce distribution and helps keep track of eCommerce distribution metrics and KPIs. You have access to WareIQ's nationwide fulfillment network, cutting-edge technology, and first-rate customer care when you work with WareIQ as a fulfillment partner to help you optimize your supply chain and improve your logistical procedures. [signup] Social Commerce Trends FAQs (Frequently Asked Questions) How will social commerce trends develop in the future?Compared to the eCommerce market, the key driver of social commerce trends is retaining and gaining clients at very low costs. Furthermore, social commerce trends provide value through technology by redefining outdated value chains, introducing disruptive logistics, concentrating on sizable untapped areas, and expanding with high capital efficiency. What is causing social commerce trends to become more popular?One of the key elements fueling the expansion of the social commerce business is a change in consumer preference, which is responsible for creating social commerce trends. What is a good illustration of social commerce?Using your social media profiles to sell your goods is known as social commerce. Use platforms like Instagram, Facebook, Pinterest, and TikTok; each has a distinctive set of tools for displaying your products to potential clients as they browse social media. Why is social commerce so crucial?Social commerce reduces any friction that can cause customers to abandon their purchase by making it simple for them to find your products and finish their transaction.

October 17, 2022

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What are Online B2B Marketplaces? 20 Top B2B eCommerce Marketplaces and How These Online Platforms Benefit Suppliers and Buyers in 2024

What are Online B2B Marketplaces? 20 Top B2B eCommerce Marketplaces and How These Online Platforms Benefit Suppliers and Buyers in 2024

The global B2B eCommerce industry was estimated at USD 6,883.47 billion in 2021. It is anticipated to rise at a CAGR of 19.7% from 2022 to 2030. Consumer preferences for online shopping have changed due to the COVID-19 epidemic, opening up new opportunities for industry expansion. The outlook for B2B companies has also improved due to the closure of physical stores and increased online orders. B2B online marketplaces are the most efficient and goal-oriented trade platforms for buyers, sellers, and wholesalers. Many companies are searching for the best B2B marketplaces that can provide them with a wide range of features, discounts, and services that may help them develop quickly. As a result, such platforms are widespread and offer fantastic opportunities for growth and sales. Below is a list of B2B online marketplaces that give you the best opportunity to communicate with a worldwide audience. What is a B2B Online Marketplace? A B2B eCommerce marketplace is the best option for businesses looking to connect and conduct business with other businesses. Additionally, it allows them to combine and streamline their web platforms for communications and business. A B2B online marketplace conducts orders and transactions through digital solutions that facilitate B2B eCommerce activities, streamlining and streamlining the transaction process. The digital eCommerce platform enables businesses to interact with other organizations safely and conduct business in one location, defining a B2B marketplace. B2B eCommerce marketplaces are similar to traditional B2C platforms in that they are where businesses buy and sell goods, typically in large quantities. However, the critical distinction between a B2B and B2C platform is that brands, manufacturers, suppliers, wholesalers, and other businesses are the primary buyers and sellers in a B2B eCommerce marketplace. In contrast, individual consumers are the primary purchasers in a B2C platform (such as Amazon , for example). Benefits of Online B2B Marketplaces  According to Gartner, by 2025, 80% of B2B sales interactions between suppliers and buyers will occur on B2B online marketplaces. Since a B2B online marketplace is an eCommerce platform that connects several suppliers with numerous buyers. An online B2B marketplace differs from a single-vendor B2B website because it has special features that let users compare, converse, and select items from the top B2B merchants worldwide. By boosting their brand's visibility and broadening their pool of prospective customers, vendors also win from participating in B2B eCommerce marketplaces. B2B marketplaces became a successful business model thanks to this upward spiral of scale, which also gave eCommerce enterprises many options across all sectors. Here, we go through the benefits of B2B online marketplace, which make them beneficial for conducting B2B eCommerce activities in India. Benefits of Utilizing a B2B Online Marketplace for Suppliers Marketplaces for business-to-business transactions give sellers excellent chances to optimize their selling procedures and significantly cut logistics costs. Increase your online visibility By digitizing your complete ecommerce catalog, you will already be miles ahead of many of your rivals that still rely on outdated in-person B2B sales methods. In addition, you have a better chance of connecting with potential customers and making significant purchases if you put your products online for viewing. It is like being at a 24-hour, 365-day global trade show where you are constantly present and visible. Expand Your Network and Profit From Current Customer Demand Numerous B2B procurement professionals are already actively using the leading B2B marketplaces to conduct their business. By connecting with and making purchases from various vetted and reliable suppliers on a single centralized platform, B2B eCommerce marketplaces give buyers the ease and confidence they need. In addition, selling on a B2B online marketplace can relieve you of some of the labour and help you efficiently widen your network if you lack the time and resources to attract consumers through physical and online channels on your budget. Cheaper Operational Cost Regardless of the platform's business model or the seller fee structures, the first cost to access a B2B online marketplace is often minimal and affordable for businesses of all sizes. Additionally, it offers suppliers the chance to lower operating costs. They no longer need to maintain extensive printed catalogues or invest in conventional marketing avenues. Simple Setup B2B marketplaces offer a consistent user experience and an intuitive seller portal where you can quickly load your company and product information to launch your online business. Marketplaces include eCommerce shipping, CRM, product management, and payment services. Instead, creating and integrating such complex systems into your website may be costly and time-consuming. Test Newer Products Eliminating out-of-date inventory and SKUs is simpler than ever when you manage your products through a unified web interface. Your own sales information can be easily accessed through a B2B online marketplace to assist in guiding your choice of products or product creation. In addition, the marketplace portals frequently offer sales-trend insights and aggregated data for various industries or segments, allowing you to adjust to the sales trends and reap the benefits of being a "first mover,", particularly during times of crisis. Benefits of Utilizing A B2B Online Marketplace For Buyers Online B2B marketplaces provide buyers with excellent chances to streamline their procurement process and quickly cut costs significantly. Easily Find New Partners The ability to connect with and find new international partners is the first obvious benefit that a global B2B online marketplace gives buyers. In addition, due to the very structure of B2B eCommerce marketplaces, buyers can locate new businesses and purchase options for less money. Discover The Best Price Deals Once you have identified a few vendors who fit your requirements, you can quickly contrast their costs and terms of delivery. Additionally, purchasers can send enquiries to various chosen sellers using the marketplace program and then compare the sellers' pricing offers. You can always purchase your goods or services at the lowest price using the capability of some online B2B platforms, which allows you to track pricing by vendors and compare them in real-time. Track Expenditure and Anticipate Transaction Buyers may keep tabs on their expenditures and project the cost of upcoming purchase contracts by utilizing the integrated monitoring features of a B2B online marketplace. Once you have enough information, you can quickly optimize your purchase strategy and related costs by analyzing your purchasing habits. An online B2B marketplace platform allows you to forecast most types of transactions and even automate some transactions to acquire the best price or delivery terms when used in conjunction with predictive analytics tools. Search for Exact Product Matches Vendors can enter special features for each good or service they provide using an online B2B marketplace platform. Thanks to this, a buyer may quickly search for and find exact matches of the delivery-related products. These features include product availability, colours, sizes, dimensions and delivery details like shipping costs and associated taxes and fees. A customer can then use this to find the ideal product match based on a complex set of parameters. Select Preferable Payment Options Not every payment option is suitable for every buyer, but most B2B marketplaces provide a list of both conventional and cutting-edge payment options. For example, you can use a traditional wire transfer or the payment method that best suits you. [contactus_gynoveda] Top 20 B2B eCommerce Marketplaces in India & World in 2024 According to research, India's B2B eCommerce market will reach $1 trillion by 2024. Innovative enterprises that charted a new road for development may be responsible for the success of the expanding Indian B2B eCommerce market. B2B businesses might benefit from various fresh opportunities with access to capital and funding. By offering an online marketplace on their websites, several startups contributed to the B2B market's exceptional expansion and spurred B2B trade. These eCommerce behemoths created a ready-to-use B2B ecosystem to help the sector grow to where it is today. Consider a few of the best B2B internet marketplaces. eWorldTrade Source One of the top-rated and fastest-growing B2B marketplaces is eWorldTrade. It was developed to ease international trade and establish new benchmarks. You may find a huge selection of products that have been validated by eWorldTrade on this platform. They are well-versed in the most recent features and services that support business growth. You may quickly connect with buyers and sellers on their highly engaging page. To help traders overcome market obstacles, they provide the most outstanding services. Membership packages are an excellent feature of eWorldTrade. You may find every modern feature with quick and creative trade solutions on this platform. Alibaba Source The largest B2B marketplace for wholesale goods is Alibaba, established in 1999 by Jack Ma and Peng Lei. This market has maintained its dominance in the industry for many years because of its aggressive and intelligent strategy. As a result, it has grown incredibly well-liked as a platform for Chinese businesses to advertise their goods. With over 900 million active users, Alibaba is one of the most efficient platforms for different trading services, including B2B, B2C, and C2C. Its customers can access various services, such as mobile commerce, digital auctions, e-commerce, and online shopping. Due to its variety and unique facilities for manufacturers and customers, it employs more than 50,000 people and generated about $100 billion in revenue in the previous fiscal year. SeeBiz Source SeeBiz is an innovative business networking tool and a booming B2B wholesale marketplace. You may find, post, view, and share anything about wholesale here. It offers more than 600,000 goods from more than 1,000 certified wholesalers. This makes it simple to investigate good things, from common stock to uncommon goods. The advantages of this extend to both buyers and sellers. Additionally, you can post, share, and even communicate with other companies. This will make it simple for you to monitor shifting wholesale patterns and make adjustments as necessary. By joining a constantly growing business network, developing enduring wholesale business partnerships, and enhancing your online visibility, SeeBiz may help you build your company more quickly. ScoutStock Source Scoutstock, accessible as a B2B platform for small to medium enterprises (SMEs), is our top B2B marketplace. It provides all the crucial marketing, sales, and logistics components businesses need to remain operational. It is a Dutch-based B2B marketplace where producers, distributors, and retailers can come together to sell, making it simple for customers and suppliers worldwide to connect and complete transactions instantaneously. Since no fees are associated with registering an account, adding products, or setting up your business name, Scoutstock.com is an exceptionally affordable choice for SMEs. In addition, Scoutstock.com's global reach makes it simple to locate new clients and suppliers anywhere, which is crucial for companies wanting to grow. IndiaMART Source Having been in operation for more than 20 years, IndiaMart is another well-known B2B marketplace in India. It's a somewhat uncommon business founded before the dot-com boom and is still operational today. The business began as an online list of Indian manufacturers and suppliers but has since evolved into a fully functional B2B marketplace. IndiaMart asserts that more than 5.5 million providers and more than 8.2 million buyers are registered on its platform. Suppliers can post their product listings for free on IndiaMart's system. They don't begin paying until they have a response from a customer (i.e., a lead). As a result, small firms and startups wishing to promote their product without spending much money on marketing and advertising make it an appealing prospect. Additionally, the business offers a mobile app with more than 10 million downloads that enable suppliers to record videos of their product offerings. One of the best places for small enterprises and startups to begin selling their products is IndiaMart, an award-winning B2B marketplace. Made-In-China Source Made-In-China is one of the first B2B marketplaces still in operation today. It is one of the largest B2B marketplaces in the world for technological products, such as electronics, equipment, and machinery. They serve various types of businesses, particularly small and medium-sized ones. Customers of Made-in-China may now find what they're looking for with ease. Made-in-China sells furniture, clothing, electronics, computers, and other items in addition to machinery and other goods. Buyers can enter the products they are looking for in the product sourcing request. Global Sources Source This top B2B marketplace aims to make it simple for customers to locate reliable suppliers anywhere in the world. Leading B2B marketplace GlobalSources links buyers with suppliers in China, Taiwan, and India. The business offers a variety of products across numerous categories on a user-friendly platform. One feature distinguishing GlobalSources from other B2B marketplaces is the variety of vendors. Only vendors with a solid track record are listed on the company's website after they have all undergone a rigorous verification process. This guarantees that customers only access reliable vendors through the platform. The website is one of the finest locations to hunt for reliable suppliers because it offers thousands of products for sale. You may get anything you require for your business here. DHgate Source Recognized in Asia, DHgate is a unique B2B platform that is not overly large yet sizable enough to keep visitors entertained. The platform offers a unique entry point for customers to find their desired products by bringing together reputable and trustworthy brands across Asia. The platform's excellent feature satisfies consumer demand for high-quality Chinese goods throughout most of Asia's countries. To overcome the language barrier and improve accessibility, the products on the websites are arranged using English as the primary language. It enhances convenience in the store and makes internet shopping safe. Amazon Business Source For businesses of all sizes, Amazon launched the business-to-business Amazon Business marketplace in 2015. Comparable to Amazon's business-to-consumer branch is this market. Enterprises in education, healthcare, hospitality, and many other sectors that require wholesale purchasing are the target market for Amazon Business. Any size registered business can find a purchasing option on Amazon Business. Users authorized to access and make purchases on Amazon on behalf of their employers can be designated by each company. Depending on the organization's requirements, the principal administrator can control payment methods, delivery addresses, approval workflows, and reporting options, among other things. eBay Source Early in the 1990s, when eBay was established, it was a C2C platform. Today, it is an improved, fully working B2B platform. They want to embrace and collaborate with retailers to promote growth. One of eBay's guiding principles is to support and mentor customers. They have established professional teams because they operate on the principle of teamwork. Over 786 million people have visited their websites. They've established a database of buyers and sellers to simplify commercial transactions. One of the platforms available is reasonably priced. In addition, they integrated a financing option for both parties to assist buyers and sellers in purchasing equipment and establishing connections for future business growth. ECPlaza Source Since its operations in 1996, ECPlaza has been the leading B2B platform for offline and online members. The company has evolved beyond only operating an online store and now offers EDI services and trade consulting. It is the platform that accepts businesses at all stages. Due to its friendly policies and business opportunities, EC Plaza has a good reputation. Therefore, ECPlaza is the most excellent place to go if a business wants to expand and establish a prospective presence in the market. They give their clients outstanding services in addition to connecting buyers and dealers. A "One-Stop Trading Network" is being developed by the futuristic trading platform ECPlaza to make trading transactions even more convenient. By easing the trade cycle, the initiative will be helpful. Ali Express Source In the beginning, AliExpress wasn't a B2B marketplace. It is a platform designed for small and medium-sized firms that can't afford to pay exorbitant prices for supplies and goods. They aid in elevating the stature of faltering as well as new businesses. One of the most reliable places to shop is there. They have a reputable reputation in the trading industry. They are the primary option for small enterprises and have a global presence. Millions of users from all around the world are welcome to join and collaborate with AliExpress. They have an efficient website that makes it simple to conduct online transactions. One of the highly regarded brands with safe and secure payment options is AliExpress. Trade India Source One of India's top online markets, TradeIndia is headquartered in New Delhi and has more than 3 million registered members. This marketplace participates in regional, national, and international trade competitions and events with its vendors' basic and premium membership options. In addition, it provides a range of services to its sellers, including trade reports, company catalogues, credit reports, leads, dial b2b, and call me free. It serves a variety of industries, from equipment to agriculture, with over 12000 product categories and subcategories. In addition to these accomplishments, TradeIndia is Google's top SME partner. EC 21 Source Another B2B marketplace that has reached the top of the list is EC 21. They currently link with over 2 million members, and their numbers are rising. The global marketplace operated by the Korean firm connects buyers and vendors. In addition, they've provided meals and created chances for small- to medium-sized businesses. The platform appeals to the audience since it is user-friendly and makes it simple for users to navigate by simply entering keywords. In addition, they have strong brand recognition on the international market due to their technological and trade prowess. One of EC 21's most valuable features is Buyers Central. They are eager to establish a lasting reputation in the future so that companies can benefit from their expertise. ExportersIndia Source Having been in operation for more than 20 years, ExportersIndia is another well-known B2B marketplace in India. The business began as an online list of Indian manufacturers and suppliers but has since evolved into a fully functional B2B marketplace. One of those portals with almost no or very few B2C products only intended for B2B transactions. As a result, the suppliers' and products' quality may be trusted. In addition, one can find anything they may require for their business on the website's comprehensive list of available products. Customer service is quite responsive and helpful, according to reviews from clients. In addition, buyers may interact with suppliers and conduct business more efficiently, thanks to their mobile app. go4WorldBusiness Source go4WorldBusiness is a well-known B2B platform that links suppliers and customers globally. The company offers a variety of products across numerous categories on a user-friendly platform. This site is a good choice if you're seeking suppliers to show you high-quality products at reasonable pricing. The website provides a variety of values as well. The organization's headquarters are in New Delhi, India, which was created in 1997. Asia, Africa, and the Middle East all feature a significant presence for the corporation. The website is one of the world's most well-known B2B marketplaces, with over 10 million users. It's one of those websites today where you may locate, get in touch with, and do business with suppliers worldwide. The firm employs dedicated industry experts who are always available to help build and expand your business. They also provide various services that could help you generate leads and profits. Export Hub Source If you need a secure online platform with adaptable, distinctive features and dependable expertise, Exporthub will never disappoint you. One of the biggest selling centres in the internet B2B community, the global B2B marketplace allows sellers worldwide to profit. International customers are never let down by the best B2B marketplace sellers. Because of this, customer service representatives are constantly available to help these officials through any difficulties. The best and fastest-growing online B2B marketplace, Exporthub, makes trade simple. It adheres rigorously to international trade norms to prevent customs and tax hiccups that would reduce business productivity. Due to its assured sales and rapid growth, Exporthub is becoming increasingly popular among international sellers. On the marketplace, there are a lot of B2B businesses that have been successful in gaining the delight of their customers by providing high-quality goods at reasonable costs. TradeKey Source TradeKey stands out from the crowd in the B2B market. On TradeKey, you may find many of the most reputable and trustworthy manufacturers operating online retail stores. The leading B2B marketplace places a premium on customer happiness and offers authentic goods to foreign customers. You can quickly identify verified importers, exporters, distributors, and manufacturers in your industry by searching the B2B company listings. The name of a broad internet selling platform is TradeKey. Most customers come from Bangladesh, Taiwan, Malaysia, Pakistan, and India. Since these countries are renowned for creating the most complex goods, foreign buyers frequently visit the area to take advantage of these merchants. ThomasNet Source One of the top B2B marketplaces, ThomasNet provides various products. ThomasNet offers more than 490,000 suppliers and customers to meet the broad need of diverse industries. This platform thoroughly looks at the supplier while upholding safe transparency between vendors and customers. The vendors on this e-commerce website give the customers as many wonderful items as they could ever want. ThomasNet is listed among the top B2B marketplaces in the globe because of this. Simply create an account on the site to participate in the commercial activity that will increase your income more than ever. ECVV Source ECVV is a leading B2B platform that offers clients encouraging support in obtaining the goods they need. As soon as you access the site, its streamlined design and user interface capture your attention. Each product is classified into a specific category and given a precise product description on the label. After a period of difficulty, the organization has carved its path to success, and its true essence of wealth resides in how it committed itself to providing top-notch services. Suggested Read: B2B Marketplace Strategy to Up Your Ecommerce Game Conclusion If you want to sell your goods to other companies or find suppliers, the aforementioned B2B eCommerce platforms are excellent places to start. Now that you know the best B2B online marketplaces and how these platforms help providers and customers, it's time to narrow down your options. These leading B2B online marketplaces continuously take crucial steps to better themselves and satisfy consumers. Just keep in mind that selecting the best B2B platform also involves selecting the one that is most appropriate for your online business. The top B2B eCommerce platforms mentioned above are also reviewed in this post based on a few essential requirements. However, aspects like the Pricing Plan, Marketing Tools, SEO Features, or Support are still necessary to pay attention to. Why Partner With WareIQ For Your B2B Fulfilment? The eCommerce fulfillment market is expanding as more companies realize the benefits of placing orders for products online. Now is a perfect time to provide B2B products if you want to grow your eCommerce business. Get a competitive edge, and enhance B2B business with WareIQ's B2B Fulfilment Services.  WareIQ supervises order fulfillment for B2B eCommerce businesses in various product-selling industries. With rapid growth, wholesalers, resellers, and startup companies operate online and supply tangible goods. WareIQ oversees the entire fulfillment process, from taking orders to completing deliveries and managing inventory so its B2B clients can prosper and flourish. WareIQ Pick & Pack We can fulfill 1 to 10,000+ orders daily using WareIQ's automated order fulfillment system, which guarantees effective and accurate picking and packing. Additionally, we don't believe in charging for services that aren't used, so with WareIQ, you only pay for what you use. We prefer simplicity, and we know you do too. WareIQ's Smart Technology Utilizing intelligent technology, WareIQ approaches the market with efficiency as our primary objective. For example, we can automatically map SKUs across different sales channels and bundle product combinations thanks to our API integrations. As a result, you may update your product offerings without worrying about tracking, inventory levels, or—most importantly—fulfillment. Processing in Bulk At WareIQ You can set up bulk processing using our inventory management software to fulfill B2B (Business to Business) orders as efficiently as D2C purchases. You may control your inventories and processes based on your chosen parameters through the dashboard. You can process several orders using this option and relax, knowing they will be fulfilled correctly. WareIQ Expertise In B2B We at WareIQ know how important performance is for expanding eCommerce businesses and attaining their full potential. No issue is too large or small for our professionals, who undergo a thorough training program to make professionals shipping experts. They are also completely aware of your scaling requirements. B2B Online Marketplace FAQs: Frequently Asked Questions What is B2B Online Marketplace?Business-to-business (B2B) e-commerce is described as a commercial transaction on a digital marketplace platform to purchase goods, services, or data (as opposed to transactions between businesses and consumers known as B2C transactions). How does an eCommerce B2B marketplace perform?A B2B marketplace is an online platform that enables companies to interact with customers at other businesses to carry out buying and selling operations. Usually, bulk purchases of huge amounts of items are made in these transactions. The platform facilitates shopping from a variety of pre-screened merchants for buyers. An example of a B2B marketplace?A B2B product marketplace is a platform where various buyers and sellers may exchange products. Amazon.com is the most well-known illustration of this. Marketplaces are set up so that many vendors can offer their goods or services to customers anywhere in the world. How does B2B marketing work?Businesses create demand for their goods and services by engaging in business-to-business marketing. B2B marketing uses a variety of content kinds across a variety of online and offline platforms, just like B2C (business-to-consumer) marketing.

October 15, 2022
Top 20 Instagram Business Ideas in 2024 for Aspiring eCommerce Sellers

Top 20 Instagram Business Ideas in 2024 for Aspiring eCommerce Sellers

We live in an age where social media has taken precedence over real-world interactions for people of all ages but especially Millennials and Gen-X. Looking at the impact that it has had on the younger generation, older audiences as well want to be a part of the hype. Social media embodies all the conveniences of the modern internet. You can check up on what your friends and colleagues are up to in their daily lives. You can watch and share pictures, videos, TV shows, and movies with the click of a button. And most importantly, you can see something you like online and instantly get a link to purchase it from multiple different sources and choose the best option with the lowest price. Apps like Instagram have made this possible through their various business integrations that allow eCommerce to take place, without ever needing to leave the app. It has features such as an in-built web browser that can load fully-fledged web pages right from the post or ad that you clicked on, links to various online payment options, and access to customer tracking pages. It also enables sellers to boost their product’s visibility through paid ad campaigns that show up directly in users' feeds. This adds a whole new dimension of convenience to eCommerce, which had already revolutionized the world of shopping. In this blog, we will take a look at 20 Instagram business ideas you can use to get your eCommerce business up and running. Introduction to the Use of Instagram for Business When it first launched in 2010, Instagram was a social media site that used the relatively new idea of photo sharing as its main form of communication rather than text. With over 2 billion members, Instagram has grown into one of the most well-liked social media platforms in the world thanks to the enormous increase in smartphone sales over the coming decade and their improved capabilities. It has also played a significant role in the emergence of "social media influencers," a phenomenon where marketers pay people with large followings a particular sum of money to promote their goods on their feeds or take part in digital marketing campaigns. Instagram has been able to actively expand its business focus since being acquired by Facebook (now Meta) in 2012 and many users now utilise the network to sell on Instagram and earn a living. Many customers also use Instagram to offer eCommerce customer feedback about their experiences with a brand. [contactus_lilgoodness] 5 Methods to Make Your Instagram Business Ideas a Success Increase Your Account's Follower Number The number of sales and conversions your Instagram business ideas will make may not be directly correlated with the number of followers an account has. However, establishing your business as a respectable household name could raise consumer confidence in it. There are numerous ways to boost the number of followers on your page. You will need to publish frequently and make sure you stay on top of specific trends if you want to accomplish them naturally. Though Instagram can fine you if it catches you in the act, there are companies that sell followers and likes for a predetermined price. Modify Your Posts to Reflect Your Brand We advise you to maintain a consistent brand image throughout all of your posts, which may involve employing the same filters or editing programs. Although Instagram includes some decent editing tools, it would be wise to use services like Canva or Snapseed to give your posts, reels, and stories a little extra zest so that they will resonate with your more deeply with your followers. This will give your business ideas for Instagram more chances of being successful. Use Imaginative Hashtags and Captions Since Instagram is an image-focused app, captions might not seem like a crucial component, but they do matter, especially among those who actually choose to read them. They can often mean the difference between people viewing your brand as just another company versus them being inspired to purchase the products you are selling. The fun prospect of captions on Instagram is that they don't have to be as serious and direct as they are on platforms for online shopping. They can evoke humour, wit, or any other feeling you choose. Additionally, using hashtags is important if you want the relevant audience to see your content. Examine the Newest Instagram Features Instagram frequently introduces new features and emphasises the formats that generate the most engagement. It used to be stories but now the focus is on reels, which are brief videos that are usually under two minutes long. You must modify your posting approach in accordance with the most recent trends in order to profit from the buzz and ensure that as much attention as possible is automatically given to your content. This will help your Instagram business ideas stay on top of the latest trends. Utilize All Postable Formats Stories, posts, videos, and reels are the four main forms available on Instagram, and each one has a specific function in the overall appeal and aesthetic of your account. Stories may be used to highlight events; posts can be informative about your business and its products; reels can be used to boost publicity and videos can be targeted as how-to guides for using certain products, among other things. Utilizing all of these formats regularly will guarantee that your account is active at all times and that your followers have new content to interact with, in addition to generating more visibility about Instagram business ideas. 20 Best Business Ideas for Instagram to Generate Sales and Boost Profit in 2024 Photographer The core functionality of Instagram is still centered around pictures and videos so a good way to monetize yourself is to provide this service to other people. There are plenty of aspiring influencers and regular people that want to have nice photos and videos of themselves or their surroundings on their feeds but don’t have the means, confidence, or technical know-how to pull it off. Many people will pay a premium for well-taken and edited photos so it could be the first step to making your business ideas for Instagram a reality. Source Digital Artist Artists have always been an important element of society by providing refuge to people through their beautiful creations. Digital artists offer the same relief but in a modern sense. Instead of a physical canvas, they employ tools such as iPads, laptops, and even their phones. There are plenty of tools out there to help you create various forms of digital art. Given that there are plenty of people that would pay for well-made digital art and some who require it for their own brand, this could one of the most profitable Instagram business ideas out there. Source Makeup Artist Makeup is one of the most profitable industries in the world and due to Instagram being a very visual-oriented space where people want to look their best, there is definitely a market and an audience for people to provide makeup tutorials, suggestions, and tips. Just like most other business ideas for Instagram, this can be done from the comfort of your own home while reaching a potentially unlimited number of people. Source Web Developer In order to build up their own websites or improve the operation and performance of their current websites, more and more eCommerce retailers will eventually be obliged to resort to specialised businesses or independent web developers. When you start providing website development services, a huge number of potential clients will be made available, given the rapid growth of the eCommerce industry. Source Marketing Professional Internet traffic is the main source of visibility and sales in eCommerce. Since there is fierce rivalry in practically every business, brands can stand out from the crowd by implementing distinctive and interesting marketing techniques. Numerous organisations are continually searching for marketing firms that can increase their reach and raise sales, which can be accomplished through traditional marketing, social media marketing, or a combination of the two. Instagram can provide the link you need to these prospective clients, which is why it is one of the best Instagram business ideas to make a quick profit. Source On-Demand Printing Services Printing services are necessary for eCommerce businesses in the fashion and textile sectors to produce items like t-shirts, backpacks, hoodies, coats and much more, which is what makes this one of the best business ideas for Instagram. You can instantly reach the enormous number of eCommerce apparel manufacturers that are still figuring out their manufacturing and operations and don't yet have an on-demand printing partner by offering on-demand printing services on Instagram. Source Tattoo Artist Tattoos have been considered taboo in the past but more and more people are opening up to the idea of getting something meaningful inked onto their bodies. While there are plenty of tattoo artists around, there aren’t many that have a profound following on Instagram, so it could be good means of getting into an untapped segment.  Source Graphic Designer Many people and companies require good graphic designers, either to post cool stuff on their feeds or to showcase their business in a professional and unique light. Being a graphic designer is one the business ideas for Instagram that requires a special skill that isn’t possessed by most people, so it is easy to post your designs and get inquiries from people that like them. Source Interior Designer Many people are getting accustomed to the minimal interior designs they see on Instagram reels and Youtube videos but not many of them are aware of how to spruce up their homes to get the same effect. This is one of the easiest Instagram business ideas to accelerate because you can simply post images of your projects and instantly get people interested because they want something similar. Source Event Planner While you are trying to search for Instagram business ideas, there are many others that are trying to do the same and need help planning and organizing events that will get them on the map. Being an event planner is a highly demanded position because the number of people starting their own companies or ventures is at an all-time high. Source Event Promoter In a similar vein to being a marketing professional, being an event promoter is one of the best Instagram business ideas because not only do people need help in organising events but the planners themselves need help with promoting it. Getting something to go viral is pretty simple nowadays with the right message, caption and hashtags. Source Personal Trainer Gone are the days when you needed a gym and a person to be physically present with you to ensure that you meet your targets. Becoming a personal trainer is one of the quickest Instagram business ideas to implement because there is a strong desire for people to improve their lives and become healthier without breaking the bank. You can simply post videos and tips about how to get fit and people will instantly want to learn more and sign up permanently. Source Personal Dietician Just like being a personal trainer, being a personal dietician is one of the best Instagram business ideas if you want to tap into a highly demanded market. There are many people that don’t have time to work out and are just looking for simple ways they can lose weight, which can easily be done through a healthy diet. By posting the right content, you can attract this audience and get them to subscribe to a monthly plan where you can curate their diets daily, weekly or monthly. Source Baker Instagram is constantly flooded with posts and reels about cute and well-made baked goods that make all of our mouths water, which makes this one of the best business ideas for Instagram. By posting the right content to the right audience, you can instantly have people inquiring about where they can get these products in their city, to which you can be the solution. Source Influencer If there was ever such a thing as an Instgrammable profession, this it is. Being an influencer involves posting nice pictures of yourself in exciting settings and making people want to do the things that you do. Hence the name influencer. You do need to come up with a dedicated strategy because it seems like just about everyone is giving this a go, but the benefits in the form of paid promotions, sponsored meals and travels to up-and-coming restaurants and resorts and much more, seem worth the effort, which makes this one of the best business ideas for Instagram. Source Brand Ambassador Brand ambassadors are like influencers but committed to only a select few brands. If you have a big enough following and reputation, certain brands will want to adopt you full-time to promote their offerings and will offer you all the perks that influencers get, in addition to a predetermined amount of money per post or per month. Source Food Influencer This is one of the nicest Instagram business ideas if you like food and want to capitalize on it. By simply visiting a few of the hippest spots in town, taking mouth-watering images of good food and highlighting the ambience, you can generate a large enough following that will have new and existing restaurants pining for your publicity. Source Dancer Tik-Tok style videos have been doing the rounds on Instagram and other social media platforms for a while now so finding a way to monetise it would be one of the best Instagram business ideas. You simply need to hop on the latest trends and find ways to have unique moves so that you can get some of your own videos trending and copied by other people. Source Repair Services There are many people that require many different items repaired, such as smartphones or televisions, and do not want to pay the premium that the official manufacturers charge. By posting videos and tutorials of simple fixes to common problems, you can amass a loyal following that will come to you whenever they need anything repaired. Source Product Reviewer Given the access that most people have to the latest goods and services, they often need a helping hand to determine which option is worth their money. This is can be one of the most successful Instagram business ideas because if you get a big enough following, you will have companies sending you sponsored items for free so you can review them.  Source Conclusion: Choosing a Fulfillment Partner to Bolster Your Instagram Business Ideas Making use of Instagram as an opportunity to turn your business conceptions into a reality is a very intelligent and relatively risk-free choice, especially due to the current popularity of social media in general. You have complete flexibility over what products you want to sell, what audience you want to target and how you want to market your brand to them. You also do not need to pay Instagram a cut in relation to any of your sales so what you make is all profit. However, because Instagram does not provide any first-party fulfillment options as it is not marketed directly as an eCommerce marketplace, you will need to either fulfill orders on your own or partner with a 3PL fulfillment company. We recommend choosing the latter as you will gain access to a wide range of facilities, especially with a company like WareIQ. WareIQ is an eCommerce fulfillment company that is based in India. Being one of the fastest-growing providers in the country, WareIQ offers a vast suite of services and technology that can enhance the experience that customers have with your business. Some of the solutions we offer are listed below: Network of Fulfillment Centers and Dark Stores Across India Every one of our fulfillment centers, which are dispersed throughout the country, is furnished with specialised SKU-specific amenities, including cold storage, temperature-controlled warehouses, specialist storage materials for fragile goods and more. We also offer hyper-local fulfillment through dark stores, which allow inventory that needs to be fulfilled right away to be stored and delivered to surrounding areas. Personalized Packaging Services We offer specialised packaging services based on your company's needs. You can highlight your brand with your logo and the colours of your choosing. You can also choose materials that will protect your products, especially those that are delicate, such as jewellery or electronic items. Super-Fast Same-Day and Next-Day Delivery To make sure that your products are always delivered on time, we have worked with more than 20 of the major shipping aggregators in the nation. Additionally, we automatically select the fastest and most economical option for each order. Personalized WMS with Several Integrations In order to track, store and update your inventory and in real-time, our bespoke WMS can interact with a variety of eCommerce selling platforms, including Amazon, Flipkart, eBay and more. You can access all of your significant data through a single dashboard. No Minimum Order Quantity No minimum order requirements apply to our services. You can only choose what you need because you only pay for the facilities and services that you utilise. Instagram Business Ideas: FAQs Does Instagram charge a commission for selling on its platform?No, Instagram does not describe itself officially as an online marketplace and since it does not provide any assistance to its sellers in terms of payments, orders and fulfillment, it does not charge any fees. Where does Instagram rank in popularity among other social media apps?Instagram is ranked as the 4th most popular social media app by user base, after Facebook, Youtube and Whatsapp. However, it is ranked as the top photo-sharing service in the world, as the other apps on this list have their own core offerings. Why do you need a fulfillment partner to sell on Instagram?Since Instagram does not provide any official fulfillment assistance, it is up to retailers to do this task on their own, which can get daunting. Partnering with a fulfillmnent service such as WareIQ, can provide you with all the tools and technology you need to successfully fulfill orders, not just on Instagram but on other selling platforms as well. What is the top user demographic on Instagram?The top user demographic on Instagram is people between the ages of 18 to 34, which make up an overwhelming majority of users at 60%. If you sell products that are targeted at this age group, Instagram could be the perfect option for you. Can WareIQ integrate with other selling platforms?Yes, WareIQ has a WMS that can integrate with multiple online marketplaces, including Amazon, Flipkart, eBay, Meesho and much more. [signup]

October 15, 2022
Top 14 Distribution Metrics and KPIs for Online Businesses to Monitor in 2024 to Enhance Operational Efficiency

Top 14 Distribution Metrics and KPIs for Online Businesses to Monitor in 2024 to Enhance Operational Efficiency

eCommerce shipping is essential to the distribution process, with 43% of online customers wanting speedy and trustworthy deliveries as the most significant aspect of their overall purchasing experience. It is no mystery that supply chain organisations encounter various difficult and unpredictable situations. The eCommerce industry has been affected by supply chain issues during the past few years on a global scale. The competition is growing daily, and at the same time, customer demands are rising. Most critically, profit margins are shrinking. Doing all in your power to reduce expenses, grow sales, and improve profitability is essential today. On paper, that sounds wonderful, but how do you genuinely pinpoint each process and function that has bottlenecks and where new chances to save money might be discovered? The correct distribution metrics will support the direction of your eCommerce business and keep you well-informed with current, comprehensive, and exact key performance indicators (KPIs) fueled by accurate data ingested from your enterprise resource planning (ERP) solution. Armed with this knowledge, you'll be able to make informed decisions supported by facts and figures, which will help you improve your bottom line and move forward in confidence. What are Distribution Metrics or Distribution KPIs? Measuring the effectiveness and performance of the flow of goods from a distribution centre or warehouse to the customer is the focus of distribution KPIs (Key Performance Indicators) and metrics. Processes, including channel design management, third-party logistics, fleet management, logistics health & safety, and order picking and shipment, can all be overlaid with distribution metrics. [contactus_uth] Top 14 Distribution Metrics and KPIs for eCommerce & D2C Businesses To Track in 2024 Source There are numerous measures and distribution KPIs when it comes to monitoring the performance of eCommerce logistics. However, your ability to meet consumer expectations and profitability is impacted by the key indicators you prioritise. The following list of distribution metrics should be monitored. On-Time Delivery (OTD) This is one of the important distribution metrics you'll use to gauge how effectively your processes operate when on-time delivery is considered. It may be calculated by dividing the number of goods you supply by the total number of units you send. How "on-time delivery" is defined on various factors, including your clients and industry, and whether the items were delivered by your company directly or by a third-party source. If partial deliveries are regular, OTD In-Full is a valuable signal to help you delve into more detail. The Volume of Deliveries With a top-notch ERP system, keeping track of how many deliveries you make over a given period will be simple. Using this data as a baseline, you can then assess how your distribution operations are doing moving forward. You can use this distribution metric to determine your company's growth potential by examining your regular shipments. Your assessments of the quantity of delivery can also assist you in finding important details about peak times, rush hours, and other things. You can then assign resources with this data so that you'll be prepared when your clients call. Customer Grievances Customer satisfaction should always be your company's priority. If this is the case, you should look at the number of customer painpoints and problem occurrences. However, keep in mind that a variety of issues, such as picking errors, shipment damage, and mis-ships, to mention a few, can lead to customer complaints. It's a good idea to track these smaller metrics, but keep in mind that there may also be factors outside your control that affect the statistics. Any trends can be used to examine the underlying mechanisms and results of elements inside your process flows that are under your control. Order Delivery Accuracy Regarding shipping and logistics, it's critical to gauge this distribution metric as it lets you know how quickly and successfully you deliver consumers' orders. Additionally, this metric enables you to keep track of the number of shipments you make without causing harm to the items. Your order accuracy KPI will provide you with some information that will ultimately help you boost customer satisfaction and loyalty by assessing the quality of your distribution and supply chain. Additionally, it will make it simpler for your clients to tell their friends and coworkers about your company. Total Order Cycle Time (TOCT) As business customers have grown to anticipate delivery times similar to those of Amazon, TOCT has become a crucial distribution metric. With TOCT, we track how long it takes to complete a customer order, but it's also critical to track how long it takes to complete your buy orders with your suppliers. So, in addition to keeping an eye out for any rises in order cycle time, you should evaluate it against rivals. Transit Period This distribution metric measures the time delivery agents take to pick up things from the warehouse and deliver them to their final destination. The time it takes to pick up and deliver items after an order is placed is crucial since it determines how quickly your delivery couriers can deliver packages. Therefore, you want your drivers to be able to complete the drops with the least amount of delay to improve your 3PL distribution services. This distribution metric can also be used to increase the effectiveness of your transportation routes.  Picking and Packing Cost Everything your business does has a cost, including picking and packing. So take a high-level approach by segmenting elements like labour, assets, and fixed costs. However, as a distributor, you control the variable cost of picking and packing services. This distribution metric monitors how much your business spends on order lines for handling, labeling, and packing. Back Order Rate  It is a distribution metric gauges how frequently orders are placed for things not currently in stock. This KPI should ideally be maintained low. Periodic spikes are OK as long as they result from unanticipated demand situations. A persistently high rate, however, suggests inadequate inventory management and/or demand forecasting. Storage Capacity It's crucial to know how well your warehouse has been utilized. This measure may be based on the number of pallet locations, pick facings, or available cubic feet of storage. Your business can lose money if just half its warehouse space is utilised. Additionally, operating at more than 85% of your capacity, you generally can't do so effectively (or safely). The idea is to find the utilisation sweet spot or the point at which your warehouse, staff, and processes work best together. Your ERP will assist you in performing that computation, understanding seasonal and cyclical variations, and adjusting for it. Loss of Sales A potential client can get a quote and then choose to work with another company. This is a metric that requires monitoring. The data can provide insights that can help your firm make pivots when calculating the percentage of estimations that don't result in any business being executed. You might need to reevaluate your pricing, level of customer service, or shipment schedules, for instance. Picking Accuracy  Picking Accuracy This key performance indicator, however, examines a particular procedure. It calculates the proportion of orders that are accurately chosen and packaged. Utilization of Labor and Equipment This KPI measures productivity in the distribution sector. It gauges how quickly your staff and machinery are filling orders in your warehouse or distribution facility. A distribution company may suffer significantly financially from having too many unemployed employees and underused equipment. The Ratio of Inventory Turnover This lean distribution metric counts the instances during a given time frame when the entire inventory passes through the warehouse. Warehouse and buying managers should keep an eye on this measure as it helps to guarantee that there is always an acceptable quantity of inventory. Dock to Stock Cycle Time Stocking Cycle Time gauges how quickly and efficiently inbound logistics teams receive shipments from suppliers and stock them. A high value for this KPI may indicate problems with the number of orders prepared for shipping promptly, the availability of warehouse space for incoming shipments afterwards, and the general flow of items entering and leaving the warehouse. High values for this KPI may indicate that the organisation uses improper inventory management techniques, ineffective shipping scheduling, or poor warehouse space management. A shorter stocking cycle time will contribute to fewer potential issues later in the supply chain, boosting the percentage of on-time shipments and customer satisfaction. WareIQ As Your Distribution Logistics Partner As a B2B or B2C brand, you may utilise WareIQ, a 3PL fulfilment service, to outsource all facets of order fulfilment, from inventory management to returns management. Send your products to one of our fulfilment centres in India, and we'll streamline your business's fulfilment and distribution operations. You may provide same-day and next-day delivery to your consumers using the distribution network of WareIQ. For your company, you can reject RTO (Return To Origin) orders and reduce your fulfilment expenses by up to 40%. By utilising WareIQ Fulfillment, you can concentrate more on other critical areas of your business and less on internal fulfilment. By utilising WareIQ's effective fulfilling strategy, you may improve your eCommerce business and increase revenue. Here is a summary of how WareIQ encourages the growth of brands through intelligent distribution. Multiple Fulfillment Centers for Quicker Shipping WareIQ's extensive and dynamic fulfilment network allows you to strategically store products across many locations to cut transit times, with fulfilment centres dispersed across tier-1, tier-2, and tier-3 cities. Bangalore, Chennai, Delhi, Mumbai, Kolkata, Ahmedabad, and Hyderabad are the locations of WareIQ's fulfilment centres. Thanks to this broad fulfilment network, you may provide same-day delivery for your consumers in your specific areas. The WareIQ dashboard gathers data from previous orders to help you choose your optimal distribution strategy, allowing merchants to shorten typical delivery times. Reduced Shipping Costs You can offer your customers competitive, reasonable delivery options with a good shipping strategy. In addition to offering expediting shipping services, WareIQ can also help you reduce shipping expenses by offering economical 2-day shipping or even free shipping (with a minimum cart value threshold higher than your average order value). Top domestic shipping firms and local parcel delivery services are partners of WareIQ. They haggle for bulk shipping discounts, which are then on to you and your clients. [signup] Distribution Metric & KPI FAQs: Frequently Asked Questions What are distribution metrics? The quantitative measurements monitored during the inventory receiving, warehousing, picking, packing, shipping, and delivering activities are known as distribution metrics. Which KPIs should be appropriately monitored at the distribution centre?The stock of goods you have on hand and kept in your warehouse is the focus of inventory KPIs. They are ideal if you want to track how your inventory is moving. Inventory accuracy, shrinkage, carrying cost of inventory, inventory turnover, and inventory-to-sales ratio are common inventory KPIs. What is 3PL distribution and warehousing?The company outsources Third Party Logistics, or 3PL, a service for its warehouse and distribution needs. With 3PL, your supply chain will become more responsive and cost-effective, freeing up your business to focus on its core functions. 3PL offers a single package of all these services under one roof. A 3PL distribution partner commonly offers what types of services?3PLs offer receiving, storage, packaging, and shipping services as part of their logistics solutions. Several 3PL suppliers additionally provide extra logistical services as value-added services. These include inventory management, delayed packing, kitting and assembly, and sourcing. Is WareIQ a fulfilment centre or a third-party distributor?WareIQ warehouses are effective order-picking, packing, and shipping hubs and places to store goods. Millions of products may be tracked daily by Amazon robotics, scanning technology, and computer systems in fulfilment centres.

October 13, 2022
Can You Lower Shipping Costs by Reducing Package Sizes? A Comprehensive Guide on Ways to Reduce Sizes of Package For eCommerce Shipping [2024]

Can You Lower Shipping Costs by Reducing Package Sizes? A Comprehensive Guide on Ways to Reduce Sizes of Package For eCommerce Shipping [2024]

Shipping costs form a significant part of the overall expenditures that eCommerce businesses need to incur to successfully fulfill orders. While it is a necessary and unavoidable cost, practising a few sensible strategies can enable sellers to save a large amount of money, which is especially crucial for small and medium-sized businesses that are already operating on thin profit margins. We can reduce shipping costs in a variety of ways, but one of the most attainable ones is by reducing package sizes for every shipment. It may not seem like an obvious solution but if every package comprises a reduced footprint on the delivery vehicle, more parcels can be added and delivered in the same shipment, rather than needing multiple attempts. A large portion of shipping costs is calculated depending on the size and weight of the shipment. By having small package sizes, retailers can offset additional costs by either having smaller package sizes or using the extra space to ship more orders. In this blog, we will take a more detailed look at the importance of reducing package sizes, how it can help lower shipping costs and 5 ways to enable small package sizes. Importance of Reducing Package Sizes in eCommerce Lowers Shipping Costs The primary reason for reducing package sizes is to lower shipping costs. Since shipping costs are largely determined by the size and scale of the shipment, having small package sizes can be beneficial to retailers by saving them a significant amount of money that they can then reinvest in other aspects of the business, such as product development and marketing. For eCommerce sellers that are in the process of expanding their services to other regions, having lower shipping costs due to reduced package sizes will enable them to offer lower prices to their customers, ship more orders in bulk and attain positive customer feedback as a result. Reduces the Amount of Packaging Material Needed By optimizing all the processes involved in packaging, retailers can reduce the amount of material they need for each delivery. eCommerce packaging generally requires many layers to keep the product safe and intact in transit, such as the product box, bubble wrap, plastic covers and the outer box. If the entire package is stripped of any unnecessary materials and is only delivered with the components that are needed, it will not only reduce shipping costs by creating smaller, less weighty shipments but will also reduce the amount of wastage that customers need to get rid off when they unpackage their order.  Related Article: Eco-Friendly Shipping for eCommerce Companies in 2024 to Go Green & Be Sustainable Takes up Less Space in Storage and Transit We have already established that reducing package sizes enables lower shipping costs but the central way that this is achieved is through the use of lighter and smaller packaging. For instance, 1 large television will cost more to ship than 2 smartphones, even though the value of the smartphones may be higher. This is due to the fact that the television will take up more space in transit, thereby reducing the storage capacity of the eCommerce shipping company. Additionally, heavy items are more challenging to load and unload which increases labour costs. Therefore, it is important to try and store as many items as you can while shipping out orders. [contactus_uth] 3 Areas Where Reducing Package Sizes Can Lower Shipping Costs Weight  One of the biggest trends in eCommerce shipping is the effort companies are making to reduce the weight of their packages, which can be done by removing certain elements such as bubble wrap or plastic. The heavier the package, the more costs they inspire due to the difficulties associated with loading and unloading them, shifting their position, and additional strain they put on the delivery vehicle, causing higher wear and tear, and lower fuel efficiency, not to mention the increased risks of them damaging other, more petite products. Dimensions When it comes to eCommerce, bigger does not always mean better. Larger packages are always more expensive to ship than their smaller counterparts. Therefore, it is important for retailers to find ways to reduce their package dimensions. A relatively well-known example of this would be the recent trend of smartphone manufacturers opting to ship their phones without headphones or chargers, initially pioneered by Apple. This has enabled box sizes to reduce dramatically, while devices themselves continue to get bigger. This allows companies to ship more of their products in the same cycle, reducing the number and frequency of shipments they require to fulfill a certain amount of products. Handling Packages that are larger in size translate to many physical constraints such as more workers required to load or unload them, or heavier vehicles needed to transport them. For instance, maybe 50 boxes of a small product, such as AirPods, could be loaded onto a vehicle by the time it takes to load 5 washing machines. This is one area value isn’t directly associated with size as smaller products are often more expensive than larger ones. To make product handling easier, faster and cheaper, consider investing in lightweight and more durable packaging materials so that products can have the same protection, without the added bulk. 5 Ways to Successfully Reduce the Package Sizes of Your eCommerce Business Optimise Your Product Placement The way a product is placed inside a box can have massive implications on its overall footprint. Analyse your product's dimensions and figure out the most efficient way to place it inside of its original box. This will automatically reduce the size of the outer storage layers. Practices like vertically stacking product elements on top of each other instead of side by side can have a positive impact on reducing package sizes. Source Bundle Similar Products / Orders Together One way to reduce shipment sizes is by placing similar products or orders together. For instance, if a shipment comprises multiple beauty products, they can all be packaged together in the same overall consignment. Similarly, if many orders are placed from the same location, all the products needed to fulfill those orders can be bundled together (also known as product bundling), which will result in a reduced shipment size as opposed to having scattered packages for the same order location. Source Use Custom Packaging Solutions Custom packaging services offered by 3PL companies can immensely help in creating small package sizes. In contrast to companies like Amazon that just have a standard package design for every order, regardless of the nature of the product, customized packaging can tailor every aspect of the package to your liking. This will enable products to be packaged more optimally, taking into consideration the design and dimensions of the product. Additionally, you can have more control over how you highlight your brand. Source Reduce the Use of Plastic Plastic packaging materials in the form of bubble rap and protection film can significantly increase the size and bulk of shipments. While products do require some amount of protection from mishaps that can occur in transit, a large amount of space can be saved by only cutting it down to the bare essentials. You can also conduct research into how to make boxes stronger so that they will be able to withstand more pressure rather than relying on heaps of plastic materials within the box. Source Opt for Multi-Function Packaging If you sell a wide range of products with similar sizes, consider having one standard box design that you can use among all of them, with just the design and product information varying based on the product. Additionally, you can make your packaging itself double as the brochure instead of including a separate one. There are also a wide variety of box designs that can fold in when stored and expand when unpackaged. Source Conclusion: Can WareIQ’s Services Help Reduce Package Sizes for Your Company? If you need to reduce your logistical and operational costs, shipping expenses would be a good place to start. To enable significant savings on shipping and last-mile delivery, reducing package sizes to their smallest possible occupancy is essential. eCommerce packaging generally comes with a lot of bloatware that is ultimately wasted once the product is unpackaged. It is important to ascertain what materials are essential to keep the product safe and what materials can be removed to save space. Additionally, how a product is placed in a box can also have an impact on its size. By having small package sizes, you will be able to reduce the amount of space that is taken up by each SKU, resulting in lower shipping costs and additional space to place more items. If you are an eCommerce retailer that needs assistance with reducing package sizes to lower shipping costs, WareIQ can be the answer you are looking for.  WareIQ is one of the fastest-growing eCommerce fulfillment companies in India. We provide a swathe of solutions encompassing every aspect of eCommerce. In terms of reducing package sizes and lowering shipping costs, we offer the following solutions: Custom Packaging We provide all our customers with custom packaging facilities so that they can offer a truly personalised experience to their customers. You can choose to highlight your brand, choose your design, colour, materials, product placement and much more. We can help offer your customers a one-of-a-kind unboxing experience while also reducing package sizes to help you generate more space in storage and transit. Partnership With Multiple Shipping Companies We have partnered with 20 of the largest shipping aggregators in India. We will automatically assign the fastest route and most cost-effective delivery option for every order. If there is a delay with any provider on any route, we will transfer the order to the next-best option, ensuring that your orders are always delivered on time. Additionally, you can avail of bulk discounts if your orders are over a certain threshold. No Order Restrictions We do not impose any minimum or maximum restrictions on your inventory, either in storage or transit. You can simply opt for the amount of space you need in any of our fulfillment centers or transport vehicles and pay for what you use. Additionally, you can add or remove space according to your requirements. Reduce Packaging Sizes: FAQs What are all the factors that affect shipping costs?- Delivery speed- Distance- Package dimensions- Shipment Weight- Handling fees What percentage do shipping costs generally make up of the total costs of an eCommerce company?Shipping expenses can easily comprise 15 to 20% of a company’s total expenditure so it is important to reduce them as much as possible. Why are bigger items more expensive to ship?Bigger items are more expensive to ship because they are more cumbersome to load, unload, handle and take up more space in a delivery vehicle, thereby reducing its overall capacity to store other products. What are the predictions for shipping costs for the remainder of the year?Shipping costs are expected to fall at least 30 to 40% compared to 2020. Does WareIQ offer any other fulfillment services?Yes, WareIQ offers a wide suite of eCommerce solutions such as inventory storage across a nationwide network of fulfillment centers, warehouse management through our custom WMS, last-mile delivery, reverse logistics, an app store and much more.

October 10, 2022
How to Reduce Transportation Costs in Distribution Networks in 2024 for eCommerce and D2C Business?

How to Reduce Transportation Costs in Distribution Networks in 2024 for eCommerce and D2C Business?

Transportation and eCommerce logistics are a vital part of a company’s eCommerce operations as they enable goods to be successfully delivered to the customers that ordered them. Companies today are embroiled in stiff competition as they try to outdo each other in terms of who can provide the fastest and cheapest possible delivery to customers so that they do not need to incur additional shipping charges. However, this could also have a negative as these costs may fall onto the shoulders of the companies themselves, which could ultimately reduce their profit margins. While efficient transportation is a must for any self-respecting eCommerce company, they also need to find the sweet spot between good service and ways to reduce transportation costs in their distribution. In this blog, we’ll be discussing just that, in addition to what transportation costs in eCommerce are and a few examples of them. What are Transportation Costs in eCommerce? Transportation costs in eCommerce involve any expense that goes into transporting raw materials to the supplier, transporting finished goods to their relevant fulfillment centers and warehouses, and delivering the products to their final customers. The costs involved in the management of returns and picking up the goods from customers and transporting them back to the warehouse can also fall under transportation costs as it involves the entire logistical procedure to be repeated but in reverse. If a company is not careful in the way it manages its transportation and distribution costs, it can easily be caught off-guard by skyrocketing expenses, which can result in unforeseen delays and unfulfilled products. If a customer does not receive their product in time or is not satisfied with the overall delivery experience, it may cause them to leave negative reviews and reconsider purchasing from that company again. This is why it is important for companies to find ways to reduce transportation costs and keep them in check. Transportation costs can be calculated using the following formula: Transportation Costs = Total Transport-Related Expenses ÷ Total Sales Revenue [contactus_lilgoodness] 5 Factors That Impact Transportation Costs in a Company’s Distribution Network Fuel Prices We live in an age where almost all major transportation networks still rely on fuel and thus, retailers are at the mercy of whatever global or local occurrences cause fuel prices to fluctuate or stabilise. Stable fuel prices allow companies to accurately gauge how much would be spent on transportation. However, as we have seen recently, fuel prices can easily fluctuate and skyrocket, which in turn, causes transportation costs in a company’s distribution network to also increase, resulting in higher prices to fulfill orders and transport goods. Weather Conditions Just like fuel prices, there is little to nothing a retailer can do to positively affect weather conditions in their favour. In the case of extreme weather such as excessive thunder or hail storms, most major transport facilities such as planes, ships, trains, and trucks are affected, which causes unforeseen delays and negative sentiments among customers that are waiting for their deliveries. This increases the time needed for each delivery and thus, also increases transportation costs. On-ground transportation can also easily be affected by natural calamities such as landslides, fallen trees, roads being damaged due to harsh weather, traffic pileups, and more. Travel Distance If you would assume that the further the destination is from the point of dispatch, the more expensive it would be to transport an item, you would be right. Sheer distance necessitates the use of more fuel, longer travel times and a generally longer waiting period for an order to be delivered. However, to offset the challenges associated with the increasing distances needed to fulfill cross-country orders, many companies are opting to partner with 3PL warehousing companies with large warehouse networks so that they can store their merchandise closer to areas of high demand and transport their products from there which will reduce distribution costs as opposed to from a central warehouse where distances could be near or far depending on the final destination. Total Shipment Weight This is another instance where larger translates to more expensive. The bigger a shipment is, the more space it will take up on a vehicle, so the more expensive it is to transport. This is why companies generally prefer to ship orders in bulk, find ways to package their products to take up as little space as possible and strategically place them, so they have a reduced footprint compared to stacking them side by side. These practices aid in helping reduce transportation costs. Related Article: How to Reduce Package Sizes? Delivery Speed Generally, faster delivery means more expensive delivery because more resources and planning are necessary to ship an order in a day compared to a week. Every aspect of the delivery, from the picking and packing to the shipping and last-mile delivery needs to be meticulously planned in order to achieve an ultra-fast delivery. Additionally, the order may require faster and more costly vehicles to make up time in transit. Here is how you can increase shipping speed keeping in mind the affordability. 5 Methods to Reduce Transportation Costs for Your eCommerce Firm in 2024 Consolidate Deliveries in a Single Shipment Shipping companies generally provide discounts if the order value is beyond a certain threshold. To take advantage of these discounts and more efficiently transport products, you can club as many orders as you can into a single shipment without compromising the safety and quality of the delivery. This will enable you to reduce transportation costs as many orders can be delivered in one single shipment as opposed to many separate shipments while also making use of bulk discounts provided by the operator. Source Outsource Your Warehousing Requirements to a 3PL 3PL companies generally have vast networks of warehouses and fulfillment centers, scattered across the country, which means that you can store your products closer to areas where you are getting the most demand or in proximity to major transportation hubs. This will reduce the distance that each parcel has to travel and will ultimately reduce distribution costs. Partnering with a 3PL is a good idea because their warehouses are fully stocked with all the latest technology so you do not need to worry about anything getting misplaced because every SKU and order placed can be monitored through a WMS software from wherever you are. Source Utilize Automated Container Loading Systems Loading or unloading items on or off vehicles are part and parcel of eCommerce transportation. One way to speed up the process, lower the number of errors that can occur, and reduce transportation costs, is to use an automated container loading system. It is a simple mechanism where a leading plate can slide under the container and load or unload the entire shipment in a single attempt. Using it will allow you to shorten the amount of time that is needed, reduce the amount of labour needed and thus, reduce your overall loading and unloading expenditures. Source Automate Important Processes Gone are the days when an entire warehouse could be run offline. In the current scenario, eCommerce companies rely heavily on the use of technology for important processes such as automatically assigning orders to a shipping company whenever they are placed, identifying which product needs to be selected and packaged through a WMS, and mentoring important data across warehouses and selling platforms through a single dashboard. These processes remove clutter and allow all your processes to be carried out smoothly. Additionally, you can purchase robots that further automate the picking, packaging and loading of goods. Source Ensure That Vehicles are Consistently Maintained The most important aspect of eCommerce transportation is the vehicles themselves and ensuring that they are running smoothly is extremely important. The last thing you or your customers would want is a random breakdown, adding multiple hours or days to the delivery timeline. By ensuring that the vehicle fleet of either your company or the shipping company you have partnered with is constantly maintained and checked for any issues that could cause a delay, you will save yourself a lot of time and money in the long run. Your customers will receive their orders on time and you will not have to waste time and money sorting out various issues that could happen during the delivery process. Source Conclusion: What Services Does WareIQ Offer to Reduce Distribution Costs? Finding ways to reduce transportation costs in their distribution network is of utmost importance to retailers that understand the implications if their expenses go beyond the budget. With just a little bit of effort and common sense, reducing distribution costs is very achievable for even the smallest retailers. It will help them provide better service, limit their expenditure and also leave more room to expand in the future. If you are an eCommerce retailer that is looking for ways to reduce transportation costs in your business, WareIQ can be the solution you need. WareIQ is an eCommerce fulfillment company based in India and has emerged as one of the fastest-growing options in the country. We provide a wide range of eCommerce services that will help your business thrive. In relation to reducing your eCommerce transportation costs, we offer the following solutions: Pan-India Network of Fulfillment Centers and Dark Stores We provide a nationwide network of fulfillment centers and dark stores with smart inventory placement that will suggest the best storage location for each SKU based on its demand and target audience. This will enable you to store your goods closer to your customers and reduces the distance and time it takes to fulfill every order. We also offer dark stores for hyper-local delivery in specific locations. Ultra-Fast Shipping We have partnered with more than 20 of the biggest shipping aggregators in the country and will automatically assign the fastest and most cost-effective option for every order, resulting in quicker fulfillment and reduced shipping prices. If there is a delay on one route, we can instantly assign your order to another company. Custom Packaging We offer custom packaging facilities to help you reduce the overall footprint of your products, which will help it take up less space so that more units can be fulfilled at the same time. Your orders will also take up less space while being transported, which will reduce distribution costs even further. Reduce Transportation Costs: FAQs Why is reducing transport costs important for an eCommerce business?eCommerce relies on the transportation of products to customers and these costs can accumulate over thousands of orders and over time. To be as cost-effective as possible, sellers need to figure out ways they can reduce costs so that they can be more profitable. What are some examples of transportation costs?Some examples of transportation costs are listed below:- Vehicle maintenance- Shipping costs- Last-mile delivery costs- Fuel expenses- Driver salaries What are the 3 types of transportation costs involved in a business?The 3 types of transportation costs are as follows:- Standing costs- Running costs- Overhead costs What are the economic drivers that impact distribution costs?There are 7 economic drivers that impact transportation costs. They are mentioned below:- Distance- Weight- Density- Storability- Handling- Liability- Market Does WareIQ outsource transportation?Yes, WareIQ has partnered with more than 20 shipping companies to ensure that orders are always fulfilled via the quickest route and cheapest price. If one company has a delay, the order is automatically assigned to the next best option.

October 10, 2022
10 Best eCommerce Platforms Compared [2024]: Pros & Cons, Pricing and Features to Consider While Selecting an eCommerce Platform

10 Best eCommerce Platforms Compared [2024]: Pros & Cons, Pricing and Features to Consider While Selecting an eCommerce Platform

Even though setting up an internet store needs a lot of work, it is possible to simplify the procedure. You won't need to code the website from scratch using an eCommerce platform. Instead, it will aid in the speedy creation of an online store, management of its eCommerce operations, and improvement of the shopping experience for clients. Selecting a platform for your business can be challenging because many eCommerce options are available. It must meet your requirements, objectives, and financial constraints. It should also be expandable over time to support your company's expansion. We've developed a list of India's top 10 eCommerce platforms for various business types, demands, and budgets to assist you in selecting the ideal platform for building your online store. We'll discuss the features and pricing of each platform as well. We'll also go over the benefits of using an eCommerce platform for your online business and what to look for when selecting one. What is an eCommerce Platform? To grasp an eCommerce platform, one must first comprehend what eCommerce is. Since the internet has no physical borders, eCommerce is simply the business of buying and selling goods through it. Enterprises are utilising eCommerce to market to people around the world. No matter where your consumers are or where they want to buy, you can earn sales and fulfil orders by using an eCommerce platform to design and develop an online experience. A trustworthy eCommerce platform is much more than most people believe it to be—they think it is simply a tool that allows them to display their products and take payments online. The ideal eCommerce platform should function as a comprehensive business command centre where you can manage everything from marketing to inventories. It should enable payment processing and provide easy access to all the resources you need to do online business, including your online store. You should rank among the top 10 eCommerce sites in India. Source [contactus_lilgoodness] Why Should You Consider Utilizing an eCommerce Platform in 2024? An eCommerce website can be created in three different methods. The first entails employing a web developer, but this frequently necessitates sizable money that may not be accessible when starting a new firm. The second method is to code it from scratch, but this takes a lot of technical expertise and effort. Utilizing an eCommerce platform is the third option. Even if you are not an eCommerce specialist, this practical, user-friendly solution makes it easy to develop online stores quickly. Software-as-a-Service (SaaS) and open-source platforms are the two primary categories of eCommerce software. SaaS eCommerce platforms provide a simple eCommerce website builder as part of an all-inclusive bundle that includes web hosting, a domain name, and an SSL certificate. The SaaS supplier also handles PCI compliance, upgrades, security, and other aspects of software administration. Launching an online store with this one-stop method is simple, especially for novices. This strategy includes the eCommerce platforms Shopify and BigCommerce, which we shall cover further in this post. On the other hand, open-source eCommerce platforms provide eCommerce software that you can download and install on your hosting account to set up and maintain an online store. On our list of open-source eCommerce platforms are WooCommerce and PrestaShop. Because you'll have to manage the technical parts independently, an open-source eCommerce platform might not be as user-friendly for beginners as a website builder. However, the website will be more adaptable and in your hands. This eCommerce platform lets you control every aspect of the website, select the best eCommerce hosting package that matches your budget, and modify the software to better suit your online business. What Features Should You Consider When Choosing an eCommerce Platform? eCommerce platforms enable the hassle-free creation of an online store. Consequently, you should consider a few crucial elements while choosing your company. The primary considerations for evaluating various eCommerce systems are covered in the following section. Effortless Utilization It's challenging to run an online store. You must therefore pick an eCommerce platform that makes it more accessible. Look for a user-friendly interface to display products on the site, collect online payments, and easily manage inventory. If you choose a SaaS platform, you must register, pick a plan, and begin developing the website. This kind of eCommerce platform handles updates and security on your behalf. If you decide on an open-source eCommerce platform, you must first choose a hosting company and a package. Next, download and set up the application. You'll also be in charge of implementing security protocols and updating features. Online Store Features You can look past the fact that all eCommerce platforms, by default, permit and accept online payments. One of the most important considerations is how many products you can list. Unfortunately, the selection of goods is limited in some eCommerce companies' more affordable possibilities. So make sure the one you pick enables you to list all your products in your online store or at least a decent number of them. Additionally, search for features like a shipping tracker and personalised suggestions that improve the consumer experience. To help you operate the online store, the platform should have the following essential eCommerce features: Customers can discover what they desire with product classification and filtering, primarily if the store sells a vast range of goods. Product variations - the platform should let you add and manage every product variant, for instance, if you offer t-shirts in several sizes and colours. Real-time inventory tracking is essential for keeping up with demand. Offer various shipping and payment options during checkout to give your consumers a simple checkout process and lower cart abandonment rates. Customizability and Design Web design enhances clients' shopping experiences, keeps them in your online business longer, and encourages sales. Conversely, if your eCommerce site's web design or content is unpleasant, more than 50% of visitors will depart. A decent eCommerce platform should provide appealing and configurable website templates or themes to save consumers from creating the website from scratch. They can save time and effort by selecting a template and customising it for their brand and company. It's crucial to ensure the eCommerce platform you've chosen meets your demands because some have restrictions on the number of product photographs you may display. There is a lot of visual drag-and-drop capability available on eCommerce platforms. This functionality is fantastic for those new to web design and development. This kind of graphic editor aids in the intuitive construction of websites. Payments and Integrations with Third Parties Your clients' shopping experience will improve if you provide them with various online payment choices, mainly if you accept payments in their local currency. Although some eCommerce platforms come with built-in payment gateways, selecting third-party payment processors is also crucial. When creating your pricing plan, verify if there are additional transaction fees to consider. SEO and Marketing Tools eCommerce marketing tools are essential for boosting your clientele, establishing your brand, and developing your online store. You should search for the following marketing tools in an eCommerce platform: SEO tools- By using SEO techniques, you may enhance the organic traffic to your eCommerce website. These tools should be capable of adding meta descriptions and producing SEO-friendly URLs. Social media integration– Integrating your brand's social media channels will help you improve customer relations, expand your audience, and increase sales. 57% of consumers say they'll follow your company on social media to learn about new services and goods. Managing Email Lists– Create mailing lists and subscription campaigns for email marketing to enhance communication. Include banners or sign-up buttons, and distribute emails with updates about new items, ongoing sales, and other crucial information. Analytic tools– Utilize analytical tools to examine audience behaviour and traffic patterns to improve website design, content, and marketing tactics to increase sales. It's also fantastic if your preferred eCommerce platform offers blogging tools, as this is an additional technique to boost your SEO and eCommerce marketing campaigns. In addition, sharing educational articles about your company helps increase the credibility and discoverability of your website. Worth the Money Keep the long-term costs in mind while you search for the ideal eCommerce platform for your company. Choose a few eCommerce platforms or plans that work for you, then compare their costs and features. A SaaS eCommerce platform will require you to pay monthly or yearly membership costs. While using a free and open-source platform will only need to pay for hosting and domain name registration. Remember that adding themes, extensions, or integrations can incur additional charges. Overall, be careful to pick an eCommerce platform that is dependable and scalable and will support the expansion of your company. Customer Service When creating and maintaining your website, you can run into complications. To help you with any troubles, choose an eCommerce platform with reputable customer service and documentation. Be aware that different eCommerce systems offer varying degrees of assistance; some may only provide chat and ticket support, while others offer round-the-clock phone service. Exportability How portable your data is should be your final point of consideration. For example, can you transfer your website design, content, photos, and other data if you decide to quit the platform and move your eCommerce website elsewhere? It's simpler on specific platforms than on others. But, again, open-source systems typically make this easier to accomplish. You can export just about anything from WordPress. Then, you can switch to a different host or install it locally. 10 Best eCommerce Platforms [Updated in 2024] Whether you run a small manufacturing company or a huge corporation, you need to pick a wholesale eCommerce solution provider who can help you grow without difficulty. Additionally, it should be simple for you to deploy a platform that suits your needs and budget. Here is a list of the ten best eCommerce platforms In India.  Shopify Source A robust eCommerce platform makes it easy for manufacturers to launch an online store. With Shopify, you can quickly create a unique design for your online store or choose from thousands of pre-made arrangements. Using the intelligent drag-and-drop editor, you can quickly design your store thanks to its powerful editing features. The SaaS platform is packed with features and provides every possible service, including integrated payment processing, comprehensive sales tools, and free SSL certificates. A mobile-friendly cloud-based eCommerce system is Shopify. Key features On Shopify's mobile apps, you may manage your store. No matter where you access the platform (mobile or desktop), you can quickly track, manage, and change your online manufacturing store.It provides excellent data protection with 256-bit SSL encryption and Level 1 PCI compliance.Shopify accepts various payment methods, although its membership fees are greater than those of other B2B eCommerce platforms. Cons  Google Tag Manager makes it challenging to track checkout activities.When connected to various online stores owned by an organisation, a sales analytics system does not react appropriately. Pricing A 14-day free trial is available from Shopify. For $29 per month, new eCommerce firms can join Shopify and use the essential services. Choose the $79 per month plan as your business grows. A month of Advanced Shopify experience is $299. Adobe Commerce (Magneto) Source Formerly known as Magneto, Adobe Commerce is the eCommerce platform utilised most frequently worldwide. This is because Magento performs as an eCommerce platform with a high degree of customizability that supports third-party sales channels like Amazon. The open-source eCommerce platform may build a stunning online store with support for multiple languages and currencies. The websites created with Magento are SEO-optimized and mobile-friendly. Nevertheless, using Magento necessitates some technical know-how or development support. Key Features Thanks to its simple administration panel, you may manage numerous websites and online shops. In addition, it offers sophisticated analytics and reporting solutions to support corporate planning.The platform enables you to set up different price points for various customer groups while configuring, bundling, and grouping products. Product navigation is multi-layered, enabling product filters across several categories. Price points and product categories can be used to filter search results.Thanks to its robust API connectivity, you can personalise your store using any third-party programme. Cons  For beginners, customising Magento-powered eCommerce sites may be challenging.It needs specialist hosting like a dedicated server or a VPS (Virtual Private Server) for faster performance.Automating cache management is complex. Pricing You can download the free Magento Community Edition, which is ideal for small enterprises. However, you may pay between $15,000 and $20,000 for the Enterprise edition. BigCommerce Source It is a well-liked eCommerce option for smaller businesses due to its low total cost of ownership. In addition, BigCommerce's extremely flexible APIs assist companies in enhancing the functionality of their online stores as they grow. A wide range of capabilities on the cloud platform enables you to create your eCommerce business easily. Each membership provides access to an eCommerce environment with built-in analytics tools, customer management systems, and SEO tools. Key Features By making it simple to create unique pricing lists and catalogues, the platform enables you to cater to various consumer groups easily.Its "Persistent Cart" feature enables end users to shop conveniently across devices without losing the goods they've previously added.It provides limitless storage, allowing for the development of complete catalogues with more product photographs and videos.It allows for the simple incorporation of plugins for site customization. Cons  Because of its complicated built-in features, it has a higher learning curve than other platforms.It does not facilitate operations across many sites.The API limits the editing of its meta field. Pricing Bigcommerce offers a free trial, and monthly plans begin at $29.95. The monthly costs for the Pro plan are $299.95, the Plus plan is $79.95, and the Enterprise edition is available for a bespoke price. PrestaShop Source This open-source platform is available for free download, making it simple to create an online store for your manufacturing company. The feature-rich eCommerce solution enables you to create your online store using their editable templates. In addition, strong web store administration capabilities provided by PrestaShop are helpful as you grow your business. Key Features PrestaShop's visual builders make creating a store simple and easy.It offers 500 built-in functions that can improve retail administration and customer experience.One-page checkout encourages products to purchase, and the SSL protocol system secures transactions.It allows payment alternatives in various currencies and 25 languages, allowing store owners to serve a diverse customer base. Cons  PrestaShop template upgrades and changes are pricey.The platform is not appropriate for big-box retailers.Image quality is reduced by compression. Pricing PrestaShop is entirely free and does not require a membership or commission. However, a one-time licence is required to download the open-source software for free. Volusion Source It is a comprehensive cloud-based eCommerce platform that makes it simple to set up and run your online store. It offers responsive themes with professional design and a robust content editor to personalise them. An excellent customer experience is made possible by integrated CRM and SEO systems. Key Features Volusion provides practical features like inventory control and payment processing.Manufacturers can take advantage of a range of store functions thanks to its comprehensive API.Call, live chat, or email customer service is accessible around-the-clock.Simplifying and streamlining the browsing function are sophisticated search tools and a navigation editor. Cons  People without much technical understanding may find the user interface to be challenging.Compared to other open-source B2B eCommerce platforms, customization fees are considerable.Integrating blogs is difficult. Pricing The Personal subscription for Volusion costs $29 per month, the Professional is $79 per month, and the business is $299 per month. Their customisable premier plan is ideal for big companies. Salesforce Commerce Cloud Source It is a potent eCommerce tool that aids in creating a scalable online shop. In addition, Salesforce boasts practical features like inventory management, image filtering with built-in zoom, and product categorization. Key Features Using automation and AI, it is simple to personalise client interactions.The platform effectively manages fluctuations in traffic.It facilitates the installation and integration of plugins and add-ons from third parties.The platform reasonably retrieves information from other databases. Cons  The platform's prices are more than its rivals, and add-ons are also extra.Because of the user interface's disorganisation, navigation is difficult. Pricing It costs nothing to set up Salesforce Commerce Cloud. Instead, the company's B2B Commerce plans are priced per order; for example, Starter costs $4, Growth costs $6, and $8. B2C Commerce plans, however, are based on a percentage system; for instance, Starter is 1% Gross Merchandise Value (GMV), Growth is 2% GMV, and is 3% GMV. B2B2C Commerce is an additional category that costs 1% GMV. Shift4Shop Source Shift4Shop, formerly 3dcart, is a feature-rich eCommerce solution designed to assist manufacturers in realising their full potential within the eCommerce ecosystem. The extensive business toolset and shopping cart features of Shift4Shop help with inventory management, security, marketing, and customer service. Key Features Hundred or more editable templates with full access to HTML and CSS are available in Shift4Shop.By providing Level 1 PCI compliance, the platform protects sensitive data.You might use sophisticated SEO and marketing technologies to reach a larger audience.It interfaces quickly with backend programs. Shift4Shop's optimised code ensures that the most crucial page components load first. Cons  It only provides limited support for mobile apps, which is a bummer.Its base platform necessitates numerous add-ons. Pricing The End-to-End E-commerce version of Shift4Shop is free forever. However, it is only available to US consumers. You must utilise Shift4Shop Payments as your eCommerce store's payment processor to take advantage of this plan. In addition, there are monthly options available, including Basic for $29, Plus $79, and Pro for $229.99. OpenCart Source It is a powerful and user-friendly eCommerce store builder. The open-source platform is geared toward global trade. OpenCart assists you in creating appealing store designs. In addition, various pre-made offers and coupons can be employed to boost sales. Key Features You can customise user rights and role-based access for user groups in OpenCart.The platform provides a wide range of fully editable templates.You can improve the capabilities of your eCommerce storefront by using a variety of third-party modules, add-ons, and extensions.OpenCart does provide new manufacturing enterprises with enough marketing tools to get off the ground. Cons  The platform is not compatible with big stores.The platform has several glitches and technological problems. Pricing The platform OpenCart is free to use. It provides paid technical support from professionals. You can purchase Premium Support for $99 per month if you want ongoing customer care instead of spending on a per-query basis. Square Source It is a simple platform that enables you to create a user-friendly and valuable online store for your manufacturing company. This eCommerce platform is easy to use and doesn't require any coding or web design expertise. In addition, square Online gives you access to a new method of selling. Small businesses can use the features for free because of its specific pricing. Key Features Square Online is the best option for small business owners since it provides the most advanced features at an affordable price.The platform provides a detailed dashboard on sales, customer journeys, and cart abandonment.It has many built-in marketing tools, such as paid adverts and email marketing. Cons The platform does not offer shipping assistance, which is a drawback.It is not appropriate for shops with a lot of sales.You must use the Square payment gateway to avoid additional transaction fees. Pricing  Square Online can be accessed without charge. Use Professional for $12 per month, Performance for $26 per month, and Premium for $72 per month. There are two annual subscription plans available. BigCartel Source Small business owners can establish an online presence using the eCommerce platform. To assist in creating eCommerce sites suitable for diverse businesses, BigCartel provides a vast selection of pre-built themes with extensive modification options. Key Features BigCartel is simple and cost-free to use.You can modify the website's code in addition to employing themes.BigCartel-powered websites have frontend and backend code that is designed to load rapidly.The CMS dashboard features an icon-based navigation menu and is very user-friendly.A CSV file can be used to add many products, which is fantastic if you work with high-volume product categories. Cons  There is no search feature.The platform only provides a few payment methods.BigCartel is unsuitable for larger manufacturing companies because it does not offer sophisticated capabilities. Pricing Under its Gold plan, BigCartel is free to use for manufacturing stores that offer up to five products. For $9.99 a month, you may get the Platinum package, which covers up to 50 products. Choose the $19.99 monthly Diamond plan to sell 500 products. Conclusion The Indian eCommerce market is anticipated to expand by 111 billion US dollars by 2024 and 200 billion US dollars by 2026. This suggests that there is an excellent opportunity for merchants to create, launch, and grow their eCommerce business by leveraging a competitive market. If you are a small business owner new to the eCommerce industry, you can always start by setting up a free online store. Then, once you get some experience, you may upgrade to paid plans or move to one of the premium platforms to expand your company. We covered all the information you require about eCommerce platforms in this article. We started by discussing the various aspects to consider when choosing a venue. Then, we looked at the platforms themselves, reviewing the top 10 eCommerce platforms currently on the market. If you're ready, select the top eCommerce platform based on your needs and specifications. WareIQ Logistics- Building Better Distribution and Fulfilment Systems To Escalate Your Business  WareIQ simplifies the process of efficiently distributing your goods across different locations, reducing shipping costs and achieving 2-day delivery thanks to the nationwide network of fulfillment centres. Thanks to WareIQ's fulfillment network, which has dozens of distribution centres dispersed across the nation, small to medium D2C, B2B businesses may swiftly and economically expand regionally. With our analytics, merchants can choose the right inventory mix to fulfil customer demand while avoiding stockouts, backorders, and deadstock. Additionally, WareIQ provides total visibility into business activity across the distribution network and is supported by best-in-class fulfilment technologies. From a single dashboard, retailers can monitor inventory levels in real-time, track orders through the supply chain, manage warehouse operations, and more. While this is happening, WareIQ's well-experienced staff handles order fulfilment, processing, and delivery. WareIQ also monitors crucial parameters at each site you use, such as inventory turnover, order cycle time, order accuracy, time in transit, and on-time percentage, to further improve your 3PL experience. Using this data, you may identify areas that need improvement and improve supply chain management for success wherever you work. [signup] eCommerce Platform FAQs: Frequently Asked Questions What is an eCommerce platform?An eCommerce platform is a website's content management system (CMS) and commerce engine used to manage purchases, catalogue products, and maintain user relationships with online retailers. As a result, your company may succeed no matter how big or little, B2B or B2C, selling physical products or offering remote services. Why is eCommerce crucial in the modern world?A completely new variety of marketing chances to increase sales are provided by e-commerce. E-stores have been incredibly popular during the past ten years. A carefully curated online store may assist expand the selection of products and even provide clients with round-the-clock support services. Do eCommerce websites possess security risks?eCommerce site owners should be aware of security aspects and devise plans to ensure all transactions on their platform are secure. Necessary data not encrypted utilising cutting-edge security technologies is vulnerable to hacking attacks. This is why it makes more sense to spend a bit more money upfront on the best eCommerce platforms that offer sufficient security features rather than risk losing your customers' money and reputation by choosing a subpar platform. What Is the Fastest eCommerce Platform?Shopify typically has the fastest page loading times among eCommerce platforms. However, WooCommerce generally takes a little longer to load than Magento, Prestashop, and other media. How can I advertise my eCommerce platform?The best way to market your company is to expand your clientele. Therefore, registering with search engines, advertising your e-commerce website to customers in every advertisement you run, and optimising your website for increased traffic are all ways to do this.Another method of assisting merchants make their appeal to a larger audience is automation. To attract customers, automation can support multichannel marketing techniques like SMS, email, and social media marketing.

October 10, 2022
Generating 3X online sales during the festive season of 2022

Generating 3X online sales during the festive season of 2022

Everything you need to keep an eye on to continue the momentum once the festive season starts: Pricing models, tweaking deals & discounts {if needed}, monitoring stock levels & replenishing stocks {wherever necessary}, optimizing inventory, engaging with customers & communicating relevant info. Read further as we delve deeper into the necessity and types of pricing strategies you can use during the holiday season, the importance of communicating consistently with customers and ways to monitor & replenish your stock and optimize inventory during the holiday season. In this guide, you will learn about: Various Dimensions Involved in the Execution of Festive Season SalesKey eCommerce Trends That Usually Take Shape During the Holiday Season10 Pricing Models to Help You Price Your Products Appropriately & Tweak Offers/Discounts {if needed}10 Best Practices to Keep Optimize Your Inventory During Festive Season5 Techniques to Build a Responsive Supply ChainCustomer Engagement Once the Sales Events StartsWareIQ’s Offerings to Fulfill Orders During Holiday Season
Fulfillment of Nutrition and Wellness Products: Trends, Challenges and Tips to Ace Nutrition and Wellness Category Supply Chain Operations in 2022

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

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