At this time of year, the retail market always gets more competitive, cluttered and chaotic. However, given the sector’s contraction in 2017, it is more important than ever to maximize your sales during the upcoming holiday season. To inspire you to stand out and sell, here are proven best practices from four retail dynamos to help you boost your sales revenue to stay competitive and grow your e-commerce site so you end 2017 strong.
Two days ago, Toys ‘R’ Us filed for Chapter 11 bankruptcy protection – mere weeks ahead of the critical holiday season – to restructure amid crippling debt, declining sales and relentless competition from retail powerhouses.
In recent years, Toys “R” Us has spent hundreds of million of dollars on interest expenses, which left few resources to fund its e-commerce website. By contrast, Amazon and Walmart dominate e-commerce due to a robust online presence, lower costs and fast home delivery.
Throughout the retail space, so many trends come and go that sometimes it’s difficult to know what methods are effective and which ones are simply dead ends. In fact, one of the most heavily debated ways in which a business can deliver its products to consumers remains to be dropshipping. Continue reading “Dropshipping: How Effective is this Model Today?”
You had a brilliant idea, but someone else had it too and they got their product out there a little bit quicker than you did. This can be discouraging, especially if this other company is doing very well. Still, this does not mean you no longer have a chance of appealing to your market. There simply are some details you need to address and refine. Continue reading “How to Lap a Competitor That Beat You to Market”
Whereas businesses with a brick-and-mortar location naturally centralize their marketing efforts on their physical presence, the world of eCommerce faces an entirely different set of challenges. As much as having an online retail business provides significant flexibility, it also means that a business essentially lives or dies by how much it connects with consumers; a feat made far more complex given the ubiquitous role of eCommerce in everyday life. However, with the right planning and detailed eCommerce marketing strategy, an eCommerce business can break through and reach its target audience. Continue reading “8 Ways to Create an Unstoppable eCommerce Marketing Strategy”
Retail sales strategies can make or break your brand. Select the wrong approach and watch your business flounder as it wastes money on useless marketing ploys. The right strategy, by contrast, can yield success you never imagined, assisting even struggling businesses. So which retail sales strategies can infuse your business with new life and impressive profits? Try one of these eight winning tactics. Continue reading “8 Retail Sales Strategies That Drive Success”
Customers can’t buy products they don’t know about. And in a market heavily driven by consumer trust and brand loyalty, many consumers are reluctant to switch brands or try new products. After all, the reasoning goes, why spend money on a product that might be awful? Continue reading “5 of the Best Penetration Pricing Examples”
Dropshipping seems to be a no-brainer for retailers in a world that jumps at any opportunity to make a business transaction quick and convenient. It may appear that, now, your only concerns are acquiring your product and marketing with a bit of savvy. Yet, you cannot forget about the customer’s experience if you want to keep your business afloat. True, you may be able to pass on the tedious tasks of inventory, order filling, and ensuring shipment. Continue reading “8 Common Dropshipping Mistakes to Avoid”
With each passing year, eCommerce is further cementing its status as consumers’ preferred way of shopping. The number of new and existing sites committing the bulk of their marketing efforts on online retail has increased dramatically, and due to this growing competition, eCommerce marketing optimization is more essential than perhaps it ever has been.
Yet, despite the development of so many online retailers, a number of misconceptions continue to persist. Let’s review some of the most egregious myths that may be holding you back from realizing your site’s true potential and uncover the facts you need to truly leverage the possibilities of the eCommerce space. Continue reading “Facts & Myths of Ecommerce Marketing Optimization”
Remember seeing the words, ‘you might also like’ while you are shopping on-line? Or the ‘people you may know’ on LinkedIn or Google Plus? How many times have we actually stumbled upon these words and ended up clicking them, just to find out a little something different?
When Big Data is mentioned, ‘benchmarking’ is often mentioned in the same breath. As amazing and accurate as benchmarking with data is, it is not the end all of big data. There is something more to Big Data- that gives it so much more value. It is called a “Recommendation Engine” in industry lingo.