Harnessing the Benefits of Online Marketplaces
If I had a dollar for every “Get rich with Amazon FBA” course out there, I could quit working and retire early. […]
Tag: ecommerce
The Dark Side of Online Marketplaces
Introduction When I started my first business, I created an online store but also listed my products on Amazon. As a new […]
Understanding the Most Important Ecommerce Expenses
aim of this section is to focus on costs related to Ecommerce. Cost structures are a very important part of a business. They are key to crafting the best pricing strategy, effective financial planning, and ultimately maximizing growth and profits. So, let’s get started and look at each category.
How Can Online Businesses Effectively Deal with Product Returns?
As a result, consumers returned products worth $428 billion in 2020, with an estimated average return rate of 15% to 20%.
While returning items can be a hassle for customers, it is also expensive and time-consuming for companies. Let’s see the main reasons customers return items, the consequences for businesses, and what can be done to reduce item return rates.
The Rise of B2B Ecommerce
ost people don’t know that B2B Ecommerce is much larger than the B2C Ecommerce market. In fact, the B2B Ecommerce market is valued at close to $15 Trillions, five times the B2C market. Forrester also estimates that online sales will grow to 17% of all B2B sales in the U.S. by 2023, from 9% before the pandemic.
Let’s see why B2B Ecommerce is growing so fast and what companies need to do to be successful in B2B Ecommerce.
Pricing Strategies for the Ecommerce Entrepreneur
We previously talked about low-cost pricing and premium pricing strategies. But pricing is more complex than that, and getting the price right is one of the most important things in maximizing sales and profits. Different businesses have different products, customers, and competitive environments, so they need the best strategy for their business
How to Find New Products Ideas
I have met many aspiring entrepreneurs over the years. While some were quick to start their first business, most were struggling to […]
The Ansoff Matrix in the Age of Ecommerce
Starting a business is always an exciting adventure. But after some time, entrepreneurs will begin to wonder, “What’s next?”. The Ansoff Matrix […]
Do You Need a Shopping App for Your Business? (Answer: Probably Not)
As an entrepreneur, you’ll find many people recommending that every online business should have its own app. So, should you jump on the bandwagon, or would creating a mobile app be nothing more than a huge waste of time and money?