These figures come as good news: they present opportunities for growth into unprecedented markets. Businesses looking to navigate beyond U.
Ecommerce Statistics Key Takeaways
The world of global retail is challenging in many different ways. Businesses should keep these challenges in mind when expanding overseas:. For additional details on these challenges and tips on how to tackle these challenges of global retail, click here. A number of e-commerce sites can help retailers enter the global retail world and begin selling internationally without having to build traditional brick-and-mortar stores in foreign markets. For retailers looking to add marketplace capabilities, solutions like Mirakl connect to existing eCommerce ecosystems and make it possible to quickly deploy marketplaces.
For distributors or sellers looking to diversify their sales channels by adding multiple marketplaces, ChannelAdvisor is a SKU syndication tool that connects products, product content and pricing to multiple channels; ChannelAdvisor connects to over marketplaces worldwide. Nearly half of the million American commuters use their smartphone to discover the closest gas station, order and pay for coffee, take-out, groceries, parking and more. Product content is at the heart of eCommerce and is one of the keys to a consistent omnichannel experience.
Product information images, descriptions, specifications, attributes, etc.
Retail and Wholesale: Definitions, Stats and Strategies | TradeGecko
As brands and retailers continue to prioritize and invest in product content, digital leaders will go one step further to improve product content syndication. Brands and manufacturers syndicate their content to increase brand awareness, product information consistency, SEO and conversions. Absolunet helps North-American manufacturers, distributors and merchants bridge the gap between how they sell and what customers expect in the digital economy. Absolunet is a full-service eCommerce agency and integrator with people obsessed with delivering results, creating ROI-producing and award-winning eCommerce experiences since Be the smartest eCommerce person in the room by reading our monthly eCommerce Brief.
Online retail. Table of contents. Activist Consumers: the rise of ethical eCommerce 2. The Amazon-ification of Major Retailers 9. Social Media Gets Transactional 5. Sales Tax OR : Shopping online no longer provides deals 6. The QR code is back 7. Bigger, Wider, Deeper selection — retailers are becoming marketplaces 8. People Shopping in Their Car 9. Retailers will hire their first AI employee Consumer values to strongly influence purchasing and merchant behavior.
Did they really need to use such a big box? How far has this been shipped?
How and where is this product made? Is this brand socially responsible? The Reformation.
E-commerce Set For Global Domination -- But At Different Speeds
Key Trend Indicators. AppRiss Retail. Amazon goes brick and mortar. Consumers will now pay applicables sales tax es on all their purchases, and merchants will have to manage sales taxes in multiple jurisdictions. Mobile eCommerce is about to get much, much faster and more fluid. PWA Features: Load 2 to 10 times faster than mobile sites Have offline capability Can be added to a home screen without ever requiring updating Allow push notifications. The average mobile user downloads 0 apps per month. West Elm. Instagram shop. Kylie Cosmetics x Snapchat.
Google Express. In an environment where the sales cycles and relationships are longer than B2C, eCommerce frameworks and digital technologies allow wholesale businesses to be more efficient, provide personalized customer service, and use analytical data to inform business decisions. This is a far cry from the physical ledgers and order forms used by traditional wholesalers. Integration is king when it comes to a B2B eCommerce, and standalone eCommerce platforms have been proven to be inadequate.
Various performance parameters, like on-time delivery, order accuracy, inventory visibility, and time to process orders have had great impact on third-party services :. The B2B buying cycle can be extremely lengthy and complicated, adding on to the inertia contributed by the potential cost of implementation and conflicts between direct and online channels for many organisations.
The stakes are high, but so are the potential rewards. In a time when companies are struggling to find growth in traditional channels, this may be the best way to stand out from competition and chase sales opportunities. Now that you know that the time has come for a serious commitment to B2B eCommerce, there are a few fundamental requirements of features and design to consider. With the rising trend of wholesale merchants looking for solutions online to widen their distribution channels, B2B eCommerce stores are becoming more commonplace.
However, unlike their B2C counterparts, B2B stores rarely have the same design aesthetic or branding that retail channels enjoy. When thinking about your own B2B eCommerce website design, it should be experience-driven. The website features and development should focus on ease-of-use, efficiency, and clarity. Special attention should also be paid to the bulk ordering of multiple product variants, as well as simplified re-ordering processes.
Without branding or customizations, your B2B website quickly becomes disjointed from the business as a whole.
Consider : Customizing the login page. This is an important step when aligning your retail and wholesale branding. Buyers who go to your wholesale store should instantly see the brand connection between your B2B and B2C stores. High-quality product imagery. When you are selling commonplace items it can be hard to distinguish your products with just words.
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Buyers get a feel of what to expect before they even enter their store. Creating detailed product descriptions and a good catalogue. When you pitch to prospective customers, what will you show them? Examine your product catalogue and make sure your products are represented in a way that shows them in their best light. The process of selling and ordering online is key to providing a smooth purchase experience for your customers.
Adjusting pricing levels of products need to be a breeze, and functions to track orders and inventory are must-haves.
How much is your time worth?
The trick to being successful at selling wholesale, is not necessarily to sell at the lowest price. If you offer high-quality goods, sell on value rather than price. The focus on the quality of your products should be visible and well explained from the moment a buyer lands on your store. Enabling easy content and product management on your eCommerce platform from the start.
International E-Commerce: A Comprehensive Guide
This will save money and add profit, as research has shown that the more channels customers can buy from , the more they spend and the more loyal they become. Opening a channel for acquisition and retention creates new ways to market and reach customers. You get to optimise your organic and paid search on the Internet, as well as email campaigns and even social media platforms. Planning for this up front can shorten the time to generate revenue.
Enabling customer self-service. Giving your customers the ability to control access, manage an order, track order status, and make changes on the move eliminates phone calls and frees your salespeople for more productive purposes. By providing the ability to create custom content, these pages have a higher chance of being ranked. As a bonus tip, ongoing maintenance and refinement of the site is required to keep up with customer needs.
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At the start and in the design phase, analytics should be set to track and measure success. Embracing big data analytics to constantly enhance customer experience for your buyers. Find suitable tools to fix optimal pricing for your products, identify niche customer segments, pinpoint customer touch points, uncover obscure insights, and more.
Before tracking metrics and analytics for your eCommerce platform you should also chart baselines against existing sales channels so that improvements can be monitored against goals.
In a non-digital B2B world When a customer places an order, you create a sales order to be used by various people from accounting to fulfillment.