E-Commerce

Event Planning for eCommerce Flash Sales

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To begin with, a flash sale is when products are available in limited quantities, at discounted prices and for a limited time. A sense of urgency is created and this leads to higher sales volumes as well as extra market attention. The urgency to save on high-value items before time runs out incentivizes customers to make quick purchases and encourages them to shop at your store.

Event Planning for eCommerce Flash Sales

So, after you have tried out all the usual sales tactics, running a flash sale for eCommerce store could be just what your store needed. It drives higher than normal traffic to your store and hence it is essential that your pre-plan a number of things to take full advantage of the flash sale.

Here are a few tips for planning eCommerce Flash Sales

Choose wisely

The items you choose and the discounts you offer make a huge difference. It’s wise to select items that can provide you with a profit even if they weren’t sold at full price. Select some items that are seasonal and may not clear until the next season or some that are expensive yet in-trend or appealing to the customers.

Set the date wisely

Setting the date is just as important as choosing the items. With this, you can get your affairs in order by planning the inventory and having enough staff onboard at least during the time you run a flash sale.

Design landing pages wisely

Landing pages would allow your customers to share the link specific to the sale with their friends and family and would allow you to share information easily with your customers.

Build hype around your event wisely

Build hype around existing customers and tap new customers while you promote your flash sale. Leverage email marketing lists. Develop marketing content and social media content to create that extra exposure for your campaign.

Is your site equipped to handle the traffic?

Now that the wheels are in motion, make sure that your site can handle the influx of traffic that the flash sale will bring. Talk to your hosting provider for extra bandwidth. Further, make sure you have configured enough payment methods and support options for customers to call if they have any queries.

Finally, pre-planning will ensure that half the battle is won – don’t leave anything for the last minute!

Artificial Intelligence

Impact of ML in the Ecommerce industry

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A lot has changed in the ecommerce industry over the past decade. Technology has been one of the most crucial drivers for these changes. With AI and machine learning becoming ever more integrated into our daily lives, ecommerce is not far from being influenced by machine learning. As ecommerce continues to grow by 20% every year, technology will keep playing an important role in how customers interact with online stores. Further, mobiles will be responsible for around 70% of the total ecommerce traffic. Artificial Intelligence and machine learning will enable handling of over 80% of the customer interactions.

Impact of ML in the Ecommerce industry

Here’s how machine learning will impact ecommerce in the near and distant future:

Customer shopping experiences:

Machine learning allows ecommerce businesses to create more personalised customer experiences. Customers prefer to communicate with their favourite brands and ‘expect’ personalization in the communication. Machine learning can learn your shopping habits and preferences and hence offer more relevant suggestions and other communications.

Search results:

Improving search-results means more business for ecommerce stores. Machine learning can improve ecommerce search results by taking into account personal preferences and purchase history. Machine learning can create search ranking based on the relevance of the page for that particular user – unlike the traditional search methods that uses keywords.

Re-targeting:

Artificial intelligence can use not only customer’s digital data, but also analyse their in-store behaviour. Face recognition software will be used to re-target the ads for that latest product you checked out in-store.

Product recommendations:

Machine learning can be used in ecommerce to recommend products according to patterns in customer’s shopping behaviour. This helps increase conversions.

Marketing guide:

Machine learning can recognize patterns and predict trends so that businesses can find out what people respond to, what can be changed and what can be entirely eliminated from the marketing campaigns. This helps maximise returns on a marketing campaign.

Price Optimization:

Machine learning algorithms can help collect information regarding pricing trends, competitor’s prices and demand for various items – and combine this information with customer behaviour to determine the best price for each of your products.

There are a lot of exciting opportunities for machine learning in ecommerce and it’s becoming a means of improvement in online retail. It makes selling online more effective and rewarding.

E-Commerce

How is Drop-Shipping used in Ecommerce?

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The only difference between drop shipping and the standard retail model is that the merchant that is selling does not own the inventory or stock it. Instead, suitable wholesalers are sought for the fulfilment of orders. Many times the merchant never sees or handles the product!

How is Drop-Shipping used in Ecommerce

The main advantage of such a model is that it is possible to launch an ecommerce store without too much initial investment. Traditionally, ecommerce stores’ biggest challenge was to stock up inventory before launch. With drop-shipping, you do not have to buy the product unless you have already made a sale.

Getting started

It’s easier to begin when you do not have to worry about the basics of the quantity of products in stock,the physical space required for maintaining the stock and inventory. Further, with drop shipping, ecommerce stores do not have to worry about packaging and shipping orders, tracking inventory and accounting for each product, handling returns and managing stock levels.

Overhead expenses

With drop-shipping, the overhead expenses are at a minimum. In fact, you can also run a drop shipping business from your home.

No restrictions for location

As long as you have the means of communication with suppliers and customers, and an internet connection, you can run a drop shipping ecommerce business from anywhere!

Wide selection of products

Because you do not have to actually purchase the product, you can offer a variety of products to your customers.

Easy to scale

When orders increase, the suppliers need to worry about the stock. You can easily scale as much as you wish – and suppliers will be more than happy to provide.

The other side of the coin in drop shipping is that margins are pretty low. But, taking it positively, you’ve invested low too – so low margins could be a good start until your business catches up!

E-Commerce

Ecommerce in the Era of Mobility

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Net mobility ushered in by increased affordability and penetration of smartphones. It has taken e-commerce to the next level and added a new dimension for its exponential growth.

Ecommerce in the Era of Mobility

How can m-commerce revolutionize your business?

  • Buyers are thrilled to discover the vividness of apps that have catered exclusively to their shopping needs. This has motivated to spend on the items of their needs and whims.
  • If you have been thinking of alluring prospective buyers with eye-catching offers and discounts, the mobile platform is best suited. It will be the best source to immediately get the news around like wildfire. Qualified leads would overwhelm your mobile platform’s site to avail of the offers.
  • Smartphones are getting sleeker, smarter and affordable with each passing day. They are increasingly making their way into the pockets of common masses. Shopping on the go is more convenient than before owing to the integration of mobile-friendly shopping carts and payment gateways. Buyers can now shop or the products that cross their sights and resonate with their likes instantly.
  • Research indicates that a mere 21.0% of prestigious retailers have opted for mobile e-commerce in 2015. This provides great scope to the enterprise of small-scale entrepreneurs for growing quickly into the marketplace.

Mobile e-commerce apps can be developed in a cost-efficient manner and the outreach of phones is progressively increasing. Make your business smartphone-friendly and register thumping growth.