You have finally finished all of the setup for your business and your site looks great, the catalog is up and running, and you're ready to make your first sale. Problem: no one knows about this new site of yours, and as a result no one is shopping there.
Over weeks, months, and years of hard work on your ecommerce store you finally start driving traffic. People start buying your merchandise, leaving reviews, and your customer database starts to grow everyday. All those late nights, frustrating moments, countless disappointments, and hard work have resulted in positive growth. As you look at your ecommerce dashboard you feel a sense of accomplishment and pride.
But there’s something nagging at you, and has been for awhile now: your abandoned shopping cart statistics. You’ve always said you would improve the shopping cart later on down the road, but when ROI starts to take a hard hit, it is better to improve sooner than later.
If you struggle with abandoned carts, you’re not alone. According to KISSmetrics, the average store will lose approximately 28% of all their shoppers. The reasons range from unexpected shipping costs to bad prices. Even the giants like Amazon and Walmart have shoppers who abandon their carts, and are constantly battling lower prices to compete with competitors.
There are many things you can do to improve your site and shopping cart experience, and we look forward to helping you on your abandoned shopping cart recovery journey.
In a world where ecommerce is more popular than ever, it’s never too late to investigate cross-border sales for your store. Cross-border ecommerce has been booming for the past 18 months with sales increasing over 30% in China. However, according to a Paypal study, China isn’t the only country that is seeing exponential growth. India and Nigeria are expected to see growth over 79% in the coming year. With sales increasing like this, why wouldn’t you want to get a slice of the pie?
Cross-border selling is a great opportunity but there are a lot of things you need to consider before making the commitment. Shipping takes on a whole new meaning when you are selling to a different country, not to mention if someone wants a refund. Other things to keep in mind are listings, languages, purchasing behaviors, currency exchange, competition, and many more.
So what can you do today to get a piece of the rapidly expanding cross-border ecommerce pie? We’ll help you discern if this is something that your store and resources can support.
Many people who are considering either a full-time or part-time career in the drop ship industry may have questions about this business platform. After all, many people wonder if it can be as lucrative as the hype suggests. Although there is little up-front risk with a drop shipping business, this business endeavor, like any other, has its challenges. It's important for people to learn the basics about this business model to see if it is right for them.
Drop Shipping: A Basic Overview
Historically, one of the biggest issues for retail businesses has been the problem of overstock. Businesses buy too much of a product that simply doesn't sell. Not only is money lost, but also the need to store these items only increases the problem. Businesses have to resort to costly markdowns in order to move the merchandise. What if this problem could be eliminated all together? What if you didn't have to guess how many products your customers want to purchase?? What if you didn't have to pay for a single piece of merchandise up front--not until it sold?
Of course, as drop shipping businesses know, you do not have to deal with overstock or markdowns. You don't have to risk your profits on a new line of merchandise that may not sell either. Fortunately, the supply chain has evolved to remove guesswork from the standpoint of merchandising so that businesses can sell more efficiently.
Drop shipping businesses have been increasing in popularity, though the concept is still relatively new in the world of online business. Drop shipping businesses are an exciting prospect for people looking for either a full-time or part-time work experience because they require little start-up costs and can become quite profitable. If you are thinking about beginning a drop shipping business, you might wish to consider the following tips before launching into this new endeavor.
Understanding the Concept
If you and I were to decide to go into business together, and we chose to open up a brick and mortar store on Main Street, there’s no way we’d sign an 18-month lease, order display furnishings, install carpet, hook up a phone line, and hire employees without first knowing what we’re going to sell. Yet, online retailers—or, more accurately, casual sellers who want to become successful online retailers—do it every day.
As many of you know, running a social media campaign can be difficult and time consuming. There are days you forget to post things on Facebook, Twitter and other social platforms. There are other moments when you don’t see anyone’s comment about your business that needs immediate attention.
Since 2008, online retail sales have grown at more than double the pace of traditional retail sales, and ecommerce retailers are quickly posing a threat to in-store retailers’ market share. With online retail stores growing at such a fast pace, it gives huge opportunities for those who have a clear vision and stay ahead of the curve. Understanding some of the misconceptions that come with owning an online retail store could help give your business a competitive edge and the ability to succeed in the digital marketplace.