By the end of 2020, over 15,000 retail stores had shut shop in the US, mostly declaring bankruptcy, as strict restrictions led to slim revenues and rising debt. Of course, a large number of retail stores were making a steady transition to the online space, a step that was influenced by both the pandemic as well as adaptation to a growing trend of doing business online.
Customer acquisition and customer retention, quite simply put, are the two main pillars that hold up a business, no matter what the nature of the business is. While the former entails the strategy of acquiring new customers through various marketing campaigns, the latter is about converting them to loyal customers by strengthening the buyer and seller relationship.
Did you know that a staggering 88.05% of shopping carts were abandoned globally in March 2020? The automotive industry scored the highest abandonment rate at 96.88%. While many shoppers add items to cart and proceed towards the checkout simply to find out what the total cost, including shipping, is going to be, there are many other reasons behind the high abandonment rate.
Shipping is one of the most challenging components of eCommerce business operations. You could be running highly profitable promotions on your site with everything under control and yet shipping would be one area that would remain largely out of your control.
Manufacturing, promoting and selling a product online involves a great deal of money, time and effort. It’s therefore extremely important that you go about it in a systematic manner so your product idea doesn’t tank in the market.
Quite simply put, inventory management is both the art & science of optimizing or rightsizing your stock of goods for sale to match the expected sales. This way you neither pay for extra goods and storage nor lose sales when there is insufficient stock.
A staggering 93% of shoppers prefer to read up customer reviews online before deciding to buy a product. Out of these readers, 72% admit that positive customer reviews prompt them to trust a business.
We explored some of the most popular eCommerce websites to learn more about their secrets to success and what makes them stay strong in their respective top places. Join us in this survey that will put the spotlight on the ‘best of the best’ - some of the best practices by the best eCommerce websites.
An eCommerce platform is simply a software solution that enables you to run your online store complete with products, inventory, marketing, payment gateway and so on. When evaluating an eCommerce platform your primary concern should be whether it is suitable for your business size and the industry you are in.
The birth of headless CMS was a result of the need for a solution to the vociferous appetite of the digital age. End users constantly demanding improvements and businesses striving to provide exactly that through customized content across multiple channels.
Growth-driven design or GDD is a data-driven methodology that is based on the study of consumer behavior and user data. This is where design and marketing put on a unified front to reap real benefits for your eCommerce business.
Capturing the customer at a high level of purchase intent and bringing them to your site depends on the effectiveness of your internet marketing efforts. For your site to rank high on search results, the SEO / SEM of your company must be in extremely capable hands.