According to reports from eMarketer we can expect to see ecommerce sales grow by over 20%, following on from its 46.5% year on year (YoY) growth in 2020. However, could this year’s holiday season be even more unpredictable than the last? With covid restrictions reducing, supply-chain disruptions, resource issues and an ever-changing digital landscape, even the most profitable of online retailers will need to be on their toes.
Whether you are a new online shop or have been in business for several years, there are dozens of effective ways to improve your ecommerce performance and even optimise your platform, many of which you can implement immediately. With research and our experience of working with online businesses we have highlighted some key points you may want to consider to better handle this upcoming seasonal period.
With many large online retailers ramping up their customer service, offering crazy discounts and same or next day delivery, the average online consumer has higher expectations than ever. The issue is that with strains on resources and supply-chain disruptions many online sellers may struggle to meet these demands. Therefore, it is important to up your communication game! You want to make sure users can have the relevant information and customer support at their fingertips to generate greater relationships and potential sales.
One way to do this is by incorporating chatting systems or chat bots to your ecommerce site. Chatbots are an excellent tool to open an instant dialogue with shoppers on your site, allowing customers to ask questions, get product support, learn about new products and more, all without leaving your site. Once you have chosen a chatbot that meets your needs and budget you can begin to create automatic welcome messages, prompts and even responses allowing you to offer 24/7 customer support and improve sales conversions.
Utilise inventory management software
In essence, Inventory management is the process of planning, ordering, storing, using, and selling a company’s goods and/or materials to ensure the correct type and amount of stock is available without holding onto excess stock which is tying up cash. The overall purpose of inventory management is to ensure a business has enough goods or materials to meet demand without developing overstock.
Accurate inventory management is essential to those selling goods online. Having a system at your disposal to track stock regularly can help avoid any stock errors and help you better plan for high and low sales periods. Not only this, but an efficient inventory management solution can improve warehouse organisation and develop greater productivity and efficiency, which will impact positively on your bottom line. Indeed, integrating inventory management software is key to enhance your eCommerce company operations.
One of the biggest barriers to many online businesses -particularly during periods of increased demand- is a failure to effectively integrate their data. Many businesses rely on a variety of ERP, Accounting, CRM, Ecommerce and other systems, including cloud-based and on-premise. The trouble with using multiple systems is getting them to communicate in real time.
Communication between multiple systems can often be difficult. Many businesses have not adopted the tools necessary to integrate, and instead manually enter the data, causing hours of wasted time, which leaves resources strained and can lead to an increase in fulfilment times.
Utilising data automation tools such as our very own Cloud Data Exchange can allow businesses to automate and monitor their operations, simplifying processes and streamlining decision making.
If implemented, automation tools can have you automatically transferring orders, stock, products and more between your ecommerce and accounting and ERP systems – removing strain on resources, keeping your ecommerce store up to date and improving customer service. Perfect during periods of high demand!
If you would like to know more about Cloud Data Exchange and how it could benefit your business, then contact us now.
It goes without saying that this upcoming period will be a challenging one for all ecommerce users and online retailers, perhaps even the most challenging yet for most but it is important to utilise as many tools as possible to not only handle customer demand and supply chain issues but potentially increase your sales within such a competitive landscape.