Monthly Archives: September 2013

Smartphones are playing a Significant Role in Back-to-School Shopping

Steve Burns Posted On - September 23, 2013

Online Shopping
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Like the rise in the mobile commerce trend, back-to-school retail concept is gaining momentum. As per the survey conducted for gauging the “Back to School Shopping: 2013 Trends,” it was the users or 12,000 smartphone owners who were taken as sample for carrying out the survey. It was also kept in mind that among the smartphone users one is a parent of one school-age child. The survey was brought to fruition by location analytics vendor Placed Inc.

 The Statistics

It has been a known fact by now that the online shoppers are smart buyers. They are not only cashing on the importance of convenient web-based shopping, but they know how to make the comparative study in terms of the prices of the products. 48.9% of parents with smartphones indulge in the search to find coupons and deals. It has been revealed that the 38.7% among the back-to-school shopping enthusiasts is adhering to the concept of showrooming.

They are using smartphones for comparing the prices of the products that they found in-store, but make the purchasing plan at a later stage, online. This way they can switch to the savable mode. 34.2% is said to navigate an e-seller’s mobile site or an app via smartphones. 31.9% use a smartphone to spot a store location; 30.5% to spool down the shopping list; 24.9% to gather information on a wide variety of products. 20.5% is said to seal the business deal or make the online purchase via a smartphone.

Pick up the favorites

It has been estimated that 20.5% of parents with smartphones who are engaging in back-to-school purchases, have preference for different online stores.

When the buyers are purchasing online, then the online traffic is going to be more for Macy’s bricks-and-mortar-store, which is stated to be 22%. It is also around 22% that we make up the people flocking to Office Depot store, 21% to an OfficeMax store, 19% to a Best Buy store, 8% to visit a Bed, Bath & Beyond store, just to name a few stores.

The online shoppers purchasing back-to-school products with the help of the mobile gadgets are the ones that are less likely to visit a bricks-and-mortar store.  Since this back-to-school shopping trend is gaining momentum, the online sellers must cash on this trend of back-to-school shopping that the purchasers are engaging in, online. This way they can definitely have surging sales figure!

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Find out what Male and Female Buyers want while Shopping Online

Steve Burns Posted On - September 12, 2013

Find out what Male and Female Buyers want while Shopping Online
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A lot of marketing research has been done to determine the purchasing behaviour of men and women. By, now it is a known fact that because of fundamental psychological differences, the shopping pattern of men and women varies. As an e-seller you must remember that this applies to the online shopping platform as well. Carry on reading, in order to find out more about how you can attract more number of male and female online buyers to your business.
Know Your Audience:
The kinds of products or services you offer will give you an idea about your audience. Categories like sports, electronics and outdoor goods are mainly dominated by men; apart from that women shoppers seem to control every other retail category. You can formulate appropriate strategies when you know the majority of your target customers belong to which gender.  While men are not indulgent shoppers, women love to splurge whether it is their dear hubby’s money or their own. The recent statistics also show that online shopping is happening a lot from couches as couples during the weekend or during free time are clinging on to their laptops, iPads and other mobile devices to fulfil their online shopping needs.
The approach to online shopping of both the genders:
Both the genders tend to adopt different approaches when buying online.
  • Men generally stick to buying products they had decided on; while women tend to view products belonging to various categories
  • Men are known to give more importance to the product information details than women. Thus, women land up making more impulse purchases than men
  • You should plan your social media campaign by focusing on female buyers because it has greater impact on their purchase decisions. They are more likely to suggest a particular product or service to friends, relatives or co-workers on a social networking website
  • Moreover, women like to shop in groups with their friends and relatives. So, if you can impress one female shopper, there is a high possibility that it will fetch you a substantial number of additional customers

Paying attention to future customers:

The young school and college-going shoppers of both genders, who depend on their parents and guardians for financial assistance, should not be ignored. Research has shown that young male and female shoppers exhibit identical shopping patterns. You should try your best to cater to their needs because this class of buyers are the most tech-savvy and they exercise tremendous influence over the buying decisions of their resourceful elders. More importantly, they are going to be financially independent in a few years. So, earning their trust will assure you of revenue flows in the coming future.
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Overstock and Amazon Engaged in a Price War?

Steve Burns Posted On - September 12, 2013

Overstock and Amazon Engaged in a Price War
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The top names in the retail industry like the online marketplaces- Amazon, eBay, Overstock are going great guns, but the urge to surpass each other is always there. The rivals in the competitive industry are always breathing under the neck of each other so that they are able to change the direction of the stream of customers flocking to one online marketplace, to their own. It is about grabbing the attention of the target mass so that an online marketplace is able to build on their customer base and have raving loyalists.

The Smart Business Move

When it is about building on to the customer base, the ‘price’ factor does matter a lot. Many of the online sellers want to improvise on their sales propositions and pricing strategies, which makes it much simpler to take customers on their stride. Low price has a magnetizing effect on the prospective customers; it offers the required impetus to them to choose and purchase from a particular seller.

Amazon versus Overstock

Of late, the price war between the two major online retailers, Amazon and Overstock, has gained prominence. Read on to find out more about these companies and their recent pricing tactics to gain market share.

Headquartered in Seattle, Washington, Amazon is a leading online marketplace. This online retail major initially started by selling books, with the tagline “Earth’s biggest bookstore”, but later diversified to other products like video games, electronics, apparel, furniture and so on. Its consumer electronics, like the e-book reader called Kindle and its cloud computing services are also very well known.

Launched in the year 1999, Overstock is an American online discount retailer that is based in Salt Lake City, Utah. It has evolved over the years, from selling surplus and returned goods to branching out into the new merchandise market. It sells a broad range of products including books, furniture, rugs, bedding, electronics, clothing, jewellery and cars.

Recently, Overstock heated up the competition by announcing that for a limited period it will sell its books at 10 percent below the prices offered by Amazon. Reduced prices on 360,000 titles and low cost shipping have put Overstock at an advantageous position.

Reacting to this Amazon has also slashed prices on many of its popular titles. This is not the end, the war has just begun. There is plenty of action waiting for you in the coming days. But, the good news is that in such a price war the consumers will be the real gainers!

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Why Inventory Management is Important For The E-Sellers?

Steve Burns Posted On - September 12, 2013

Why Inventory Management is Important For The E-Sellers
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The boom in online shopping has turned the cyberspace into one vast shopping mall. It is predicted by the big shots that the value of e-commerce sales by 2013 will be $1.25 billion. Availability of a wide range of products, competitive prices and timely delivery are the main reasons behind the success of the online shopping business.  But, as an e-seller, you have a tough task ahead of you. If you want your business to be a success you need to deliver your products to the customer as and when they are demanded. Slightest delay or unavailability of a certain product can have a negative impact on your business revenue and goodwill. So, in order to avoid such undesirable consequences you need to undertake proper inventory management measures.

For the e-seller, inventory management will mean having a proper mechanism in place so that items are available when they are needed. This does not mean that you have to prevent potential shortfalls by overstocking items in your inventory. Maintaining excessive items in your inventory is not desirable because it has various storage and maintenance costs. So, for effective inventory management you can read the following tips.

Staying Well Organised Is Important

One of the main aspects of inventory management is staying organised which will help you to know what you have and will enable you to place things quickly. Your products must be stored in such a way so that you know how many of each item you have. You can take the help of technology like bar codes to track the items of your inventory. These technologies have become very affordable and are relevant to you even if your business is of a small scale.

Ensure Your Products Are Adequately Stocked

It sets a very bad impression when a customer discovers on your website that a certain product is not in stock. So, if a product is listed on your website make sure that you have adequate stock of that item. Inventory count must be done at regular intervals to reduce any risk of future shortages. You must also establish proper communication with your suppliers so that items reach customers on time.

Product feed Management

In this fast-paced world, in order to beat the rivals, you need to engage in effective product feed management.  The product data feeds need to be customized and optimized, so that the potential customers get what they want at their fingertips! We, at ChannelSale, offer exclusive real-time inventory management services that will take away all your worries and help you to go ahead with your business!

Choose the Right Software

You need to choose the right shopping cart software for your business. Software that adheres to the industry standard for inventory management, book-keeping and other services is considered most suitable. Such software will accept payments and also track inventory with every transaction. You will receive alerts when the inventory reaches a low level. This will reduce chances of overselling a certain inadequately stocked item which would lead to future delivery failure. So play your cards well and in a good way!

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Think Mobile, Not Price when desiring to Satisfy Luxury Shoppers

Steve Burns Posted On - September 4, 2013

Think Mobile, Not Price when desiring to Satisfy Luxury Shoppers
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As an e-seller you must be well aware that the secret to success in any business these days lies in treating the customer as the king. Customer satisfaction has become the core objective in businesses all over the world. You achieve customer satisfaction when your product or service is able to meet or exceed the customer’s expectation. But, when you are dealing with a subjective parameter like customer satisfaction there cannot be any set rules. The ways to achieve this will vary across different kinds of customers. Hence, you must keep in mind what kind of customers you are catering to. So, if you are involved in an online business of selling luxury goods, read on to find out more.

Knowing your Buyers of Luxury Goods

Knowledge of economics tells us that consumers are price sensitive; the demand for a product will increase when there is a fall in price. However, this law does not apply in the case of luxury goods. A shopper buying a luxury item spends a huge amount of money in that transaction. The brand value, elevating his/her status in society and other factors drive this kind of behaviour of shoppers. So, a minor reduction in price, say a 5 percent discount on a designer wear, will not make much of a difference to the customer satisfaction level of such a buyer. A high price rarely acts as a deterrent for a luxury shopper. So, when dealing with luxury shoppers price should not be your focus area. Instead, you should turn your attention to mobile technology.

Checking out the Statistics

The increased usage of internet-enabled smartphones and other similar mobile devices is not only changing the lives of people but is also opening up many avenues for online business. Taking advantage of this phenomenon is an all the more relevant decision for you if you are engaged in an online business, mainly catering to the class.  According to research by ForeSee, a company involved in analysing customer satisfaction of online shoppers, 56 percent of luxury shoppers did product research using their mobile devices compared to 40 percent for non-luxury shoppers. Moreover, 25 percent of luxury buyers made purchases using their mobile devices compared to 16 percent for other buyers.

The data above suggests that you should utilize mobile technology for your business because it is playing a very important role in the online luxury shopping scenario. Apart from that, you should also focus on merchandising and improving the functionality of your website to increase the satisfaction levels of the online luxury buyers.

Optimizing your Business Site for Mobile Devices

With the indomitable growth and popularity of the mobile devices and smartphones, optimizing your ecommerce site for smartphones and the mobile devices has become the need of the hour. The mobile commerce trend is rising and people are in love with online shopping on the go. They check out the hot deals, the exciting offers and compare price. There is no other alternative for the ecommerce merchants, but to optimize their business website for the wide array of mobile devices.

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WalMart updates its 2-year-Old Online Back-to-School Site

Steve Burns Posted On - September 3, 2013

WalMart updates its 2-year-Old Online Back-to-School Site
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When you are a big name in the retail industry, you need to set an example, lead from the front and Walmart is just doing that. Walmart’s back-to-school shopping portal “Classrooms by Walmart” a business strategy and an innovative concept clicked with the target audience and it became a huge hit last year.

The statistics show that 35,000 parents registered for the site and signed in for respective Walmart accounts. When a business strategy appeals to the target mass, it makes the loyalists to be the raving fans; building on to that business idea is what is required. Walmart just hit the right note and it has brought back with a bang this back-to-school shopping concept in 2013 with enhancements.

How are the Customers lapping it up all?

For the doting parents, the academic years for their kids play an important role. They want to give the best to their children. The suppliers are revamping their thinking providing top-quality classroom and school supply lists. It, in turn, is offering the parents the opportunity to shop for their children.

What’s New this Year?

“Classrooms by Walmart” category with the new business ideas brought about shows that school uniform lists have been added.  Lists in Spanish-language have also been inserted. A shopper has the scope to earn up to 4% cashback on behalf of her school, while engaging in the shopping spree.

Walking that Extra Mile

In order to make easy availability of the products, shoppers are offered free shipping service on the products or supplies bought.  With the products, uniforms or the ‘Classrooms by Walmart’ school supplies purchased, the orders placed online can be picked up in stores.

Last year’s response was quite remarkable as around 16,000 schools submitted supply lists to WalMart. This year the good news is that the numbers have not only doubled up, but it is said that it is almost 40,000 schools who have submitted the list to this shopping site. The new suppliers are encouraged by Walmart to stock supplies in tune with the requirements of the school. This is definitely one of the good moves adopted by Walmart that can help in nabbing the attention of more customers and boost its revenue.

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