Sorted by Topic: Market Expansion
Today’s consumers shop across multiple channels. They switch from online to offline channels to research and buy products as they please. To keep up with customers’ expectations, retailers are implementing multichannel selling strategies.
However, executing a multichannel retail strategy is difficult. You must understand the multiple places you need to be for your consumers and the multiple suppliers you need to integrate into your business. Along the way, it’s easy to make mistakes that can kill your success.
So, before you start your multichannel strategy, take into consideration these 10 common mistakes that retailers make when starting a multichannel business. (more…)
The prevalence of eCommerce continues to grow and shows no signs of slowing down. While brick and mortar still makes up the majority of sales, eCommerce sales are growing faster.
The National Retail Federation expects US online retail to grow 8% to 12% in 2017. This suggests eCommerce sales will fall between $427 billion and $443 billion. For comparison, brick and mortar is expected to grow at just 2.8%.
With promising numbers like these, many retailers are considering an eCommerce business. It doesn’t matter if you’re expanding your current brick and mortar business or just starting off. You should consider the advantages of eCommerce first. (more…)
Amazon has a current market cap of $390 billion. That’s more than the combined total of the top eight traditional brick-and-mortar retailers that includes Best Buy, Macy’s, Target, JCPenny, Nordstrom, Walmart, Kohl’s, and Sears.
As these traditional retailers seemingly struggle, Amazon continues to report its growth. It’s not a surprise then that retailers are flocking to the Seattle-based marketplace to sell their own items. Merchants are after a small piece of a big pie.
However, just selling on Amazon doesn’t equal success. Selling on Amazon is competitive. This article gives you our top five mistakes that you could be making on Amazon and hurting your sales. (more…)
In January 2016, Internet Retailer reported that online sales in the US are expected to reach $523 billion in the next five years, up 56% from $335 billion in 2015.
Consumer preference and improvement in technology are driving eCommerce growth. Consumers demand the ease, convenience, and quickness of online shopping. Retailers are making the necessary improvements to meet those demands allowing consumers to shop as they want.
eCommerce is a big opportunity for both emerging and established retailers. Do you think you’re ready to tackle the world of eCommerce? Read our guide of eCommerce basics before you do! (more…)
Online retail sales are steadily growing. While brick & mortar sales still make up the majority of total retail sales, eCommerce is carving out its place in retail.
eCommerce plays an integral role for today’s shoppers. Whether to research, compare offers, or to buy items, more shoppers are turning to online retail. Online shopping offers benefits like easier return policies, faster delivery, and free shipping.