Stay Ahead In The Ecommerce Race By Following These 4 Simple Ways
There have been some major advances in online retail over the past couple of years that have positively affected consumer shopping habits. People love to shop and stay updated on the latest fashion clothing trends. The ability to be able to shop at any time and from anywhere has boosted takers of online shoppers. Industry experts were of the opinion that this is simply an evolution but with the burgeoning demand for online clothing stores pushing the billion dollar mark sales figure, it is for everyone to see that it is indeed a revolution. It is but natural to be willing to partake in the e-commerce race. But to win this cut-throat competition, you need to have some tricks up your sleeves.
If you are contemplating the launch of your own online retail clothing store and confused about how to pull traffic, let us give you some suggestion as to how you can acquire an inventory stocked with the latest styles without blowing up a fortune. Ecommerce is by nature transactional and thus built to succeed. The question is, why do some well-funded companies manage to thrive and others fall apart? Of course, all strokes can’t be painted with the same brush, and there are many operational and marketing oriented reasons that lead to a company’s success or failure.
However, starting with a winning formula from inception goes a long way in guaranteeing long-term sustainability. 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 sales channels for many organizations. The stakes are high, but so are the potential rewards. Studies have shown that customers are migrated online. In a time when companies are struggling to find growth in the traditional channels, this may well 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 connected commerce, there are a few rules to be followed to get you ahead in the ecommerce race:
Vertical Integrated Models
Vertically integrated ecommerce companies own the entire customer lifecycle, from coordinating manufacturing to final delivery. Since the inception, vertically integrated ecommerce companies have thrived, and with due cause. By virtue of being both the manufacturer and retailer, they can provide greater value and service to customers while maintaining reasonable margins. They also don’t have to engage in price wars which inevitably bring down profits and don’t allow for differentiation. Every other of and online apparel store would be after the up-and-coming trends seen on the runway or on the covers of the fashion magazines. But you can sell the same with a difference. Look for custom clothing manufacturers who can help you tweak the designs here and there so that you have an inventory that is fiercely unique.
It’s all in the minute details! The process of selling and ordering online is key to providing a smooth online purchase experience for your customers. It’s also essential to have solid operations in place to make managing transaction processes easy for your staff. For example, adjusting pricing levels of products need to be a breeze, and functions to track orders and inventory are must-haves. If you engage your customers at this touch point by delivering a great user experience, it’s a step forward in getting them to move online and cultivate brand loyalty. In addition, enabling easy content and product management on your eCommerce platform from the start 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.
Approaching Large and Inefficient Markets
Lots of people need glasses. Pursuing large markets has been to the benefit of online disruptors out of the gate. But, Warby worked not only because it went after a large market, but that it also went after one that was inefficient and over-priced. Its better service and branding helped, but the market itself was ripe for disruption. The more products you are able to offer, the varied your target audience will be and that is bound to positively affect your sales figures. The advantage with drop shipping is that you do not have to stock up on any merchandise, no packaging and shipping hassles, and no location restraint. Opening a channel for online acquisition and retention creates new ways to market and reach customers.
You get to optimize your organic and paid search on the Internet, as well as email campaigns and even social media platforms – it’s a whole new world out there. Many businesses don’t consider the full impact of their marketing mix until the site is launched. Planning for this up front can shorten the time to generate online revenue. Giving your customers the ability to control access, manage an order, track order statuses, and make changes on the move eliminates phone calls and frees your salespeople for more productive purposes. Self-care portals should also provide your staff with opportunities to interact with customers for that extra ‘human touch’ should the situation call for it. Over time, your customers will become more familiar with the online ordering process, making it easier for self-ordering without any assistance on your end.
Inherently smart businesses should have more efficient marketing over time. The bad news is that even if greater efficiency happens in isolation, as space gets more competitive, pricing for user acquisition usually goes up and conversion rates go down. The good news is that there is a way to get past this issue: Provide a differentiated product from your competitors. In the online mattress category, it’s become expensive to enter the space and market effectively online. For example, the price of Google in-market spending has risen by four times in the last four years. If you have an in-depth knowledge of the fashion industry coupled with great business acumen, there is nothing like launching your own clothing line for men or women or both.
The internet is flooded with entrepreneurs coming up with their own brands and creating a niche for themselves. Private label clothing manufacturers can assist you in this quest by sharing the burden and headache of designing and manufacturing according to your given requirements. If you have a degree in fashion designing, it would be an added bonus! Or you could also go through the wide assortment featured in the product catalog of the clothing manufacturer, make some personalization and sell it under your brand name. If the quality is high, there is going to be many takers. The B2C market has already proven the power of merchandising and marketing in driving extra sales. Once on the site, B2C style merchandising such as offering related products and personalized offers based on the customer purchase history can drive extra sales.
Complex businesses with lots of specialized SKUs can be difficult to turn into effective businesses. For example, there have been a few fashion and apparel wins during the last few years, but lately, apparel exits haven’t been the toast of the town. Because apparel is inherently complicated. There is seasonality, inventory and converting one-time shoppers into loyal consumers can be difficult in a world of styles and trends. It can happen, but it requires an experienced team, a great product portfolio, and strong technology. If generating loyal shoppers doesn’t work out, well, you have the makings of some of the less successful ecommerce transactions we’ve seen lately. Consider selling on multichannel platforms besides the World Wide Web.
The convenience of mobile access and the ability to place an order on mobile devices and tablets is also a growing trend. It goes without saying that on-going maintenance and refinement of the site is required to keep up with customer needs. At the start and in the design phase, appropriate analytics should be set to track and measure success. You can embrace big data analytics to constantly enhance customer experience for your buyers. Suitable tools to fix optimal pricing for your products, identify niche customer segments, pinpoint customer touch points, uncover obscure insights, and much more are readily available; a simple Google search should pull up some appropriate systems fit for your business.