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.
Connecting with customers on an emotional level may very well be the single most important endeavor for an ecommerce store.
Why? Because people rarely buy for logical reasons.
According to the late Zig Ziglar (American salesman and motivational speaker), "People don't buy for logical reasons. They buy for emotional reasons."
Ziglar isn't the only person to push that train of thought. Forming emotional connections between brands and customers is now seen as an imperative marketing tactic - especially amongst the millennial generation.
The ecommerce world runs on trends. Retailers are constantly on the lookout for the next hot product, simply because you need top-selling products in order to be successful in the ecommerce world.
According to research reported by Supply and Demand Chain Executive,
"The top 10 percent of items generate 75 percent of sales, whereas the slowest moving 50 percent account for only 1 percent of volume."
We'll dive deeper into that article and the great information if offers, but that short excerpt shows that finding trending products is a beneficial process to engage in if you want to find success as an online retailer.
However, just because you know you need to follow trends, doing so isn't the easiest part of the job.
This post will help you become an ecommerce trend following ninja by showing you a few tools to use to follow the market, gauge consumer interest, and get ahead of your competitors by offering the hottest products as soon as possible.
MAP - or minimum advertised price - is an important component of the retail world that new sellers may not be aware of, but is something that should be on their radar.
MAP can have a massive effect on your pricing strategy and supplier relationships. This post will explain exactly what MAP is, why it's important, and how to use it in your online store.
Ecommerce isn't what it used to be. Not too long ago, eBay and Amazon were the only reputable online stores. Now, every large retailer has a vast online presence, and thousands of independent online retailers have opened shop to sell everything under the sun.
Easy access to suppliers and high quality websites play a big part in the surge in the independent ecommerce world, but there's a larger big-picture explanation for why ecommerce is changing.
Technology. New tech is being introduced to the industry at a mind-boggling rate, especially in just the past few years.
Not only has new technology changed the way we do business, but it will continue to shape the future of ecommerce. The following points are a few of the ways that new tech is already changing the world of online retail, and what new technologies you should consider adopting for your store.
Spring is beginning to show itself around the country, and for a lot of people, that signals the start of the outdoor recreation season.
For online storeowners, the arrival of spring has just as much excitement. Spring is a time when customers are anxious to emerge from the winter months, and are oftentimes more eager and willing to buy.
There's just one question - how can ecommerce storeowners harness spring euphoria to increase sales?
The importance of a strong social media presence for your online store can't be stressed enough. According to data from Adweek, 28% of time spent online is on a social media website. That staggering number is a big reason why so much attention is directed toward social media marketing.
Regarding social media marketing, there is one aspect that many online store owners either overlook or don't focus on as much as they should:
Being competitive in the ecommerce world isn't easy. Unless you're selling high-end, customized waffle irons (a niche that's surprisingly large) you're competing with thousands of other suppliers for consumer attention.
When you take into account the fact that mobile ecommerce sales are expected to pass $31 billion in 2016 (that's just on mobile!) it's easy to see why so many ecommerce stores exist. It's also easy to see why some companies spend thousands in marketing every month - even a small slice of a $31 billion pie is a good chunk of change.
The golden question is, how do you, as an SMB owner, position your store to compete and take home as much of the $327 billion revenue to be generated from ecommerce sales in 2016 as possible?