6 Tips and Tricks to Boost your eCommerce Business

| February 25, 2019

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We have heard it all before, eCommerce is the future of retail sales. In 2018 the worldwide online retail sales amounted to 2.84 trillion US dollars. By 2021, the market will evolve to 4.88 trillion US dollars in worldwide online retail sales. This is a growth rate of 72% in just three years!The big question now is, how can you be a part of this exponential growth and enjoy a piece of the cake? There are many different alternatives to exploit eCommerce sales. One is to sell through established marketplaces like Amazon, eBay and Walmart; the other option is to build your own eCommerce store. It is even possible to do both at the same time, thereby creating a truly omnichannel experience.

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At Mytheresa, technology meets luxury fashion in a space that celebrates both creativity and digital advancement. With our Munich head office centered in the heart of Europe, we have an international reach as speciality teams are based around the globe. Working together we strive to exceed our customer’s expectations with a passion for innovation. We are always on the lookout for the brightest talents to join in our success.

OTHER ARTICLES

what impact will it have on convenience stores?

Article | March 16, 2020

The Internet of Things (IoT) is not an elegant phrase, but for independent retailers, it is an important one. It refers the way in which computing devices embedded in everyday objects can communicate with each other. In shops, this could mean anything from shelf-edge labels to fridges, to vending machines to security cameras. For cameras, the IoT provides the connections necessary to record, analyse and identify known thieves who might enter your shop. Nick Fisher, chief executive of Facewatch, has high hopes the system could help his company become a major benefit to retailers of all sizes. He says: “Convenience stores are a significant market for us. They have high footfall, a problem with theft and there are not enough police to help stop it.”

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Which Retail Store Is Better: Amazon or Walmart

Article | March 16, 2020

Walmart has long been the number one retailer across all of the United States, but with the age of online shopping coming into full swing, Amazon has slowly been creeping up on the brick-and-mortar giant and, according to Forbes, is set to surpass Walmart in sales in the next few years. The two stores offer similar services an all around shopping experience that has everything from food to clothes to beauty products to household items to consumers in totally different ways. There are a number of things to consider before you decide which of these retail mega stores you want to make your next purchase from, and it goes beyond just a preference for shopping online vs. in-person. How easy the products are to get, the number of product options, and, most importantly, the price point, are all definitely important to take note of. So let’s dive in!

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How does Technology help in Business Growth?

Article | March 16, 2020

For every business leader, growth is the key goal. No matter what the size of the business one leads, their strategies revolve around the overall growth of the company. However, the main challenge that they had to face is to gain the lead most cost-effectively and feasibly. Nowadays, businesses are utilizing technology to integrate, automate or redesign their process operations. It has helped them in acquiring streamlined processes, minimal cost, and enhanced production. But how technology can help in strategizing for business growth? Here, the digital transformation of the business is the force driving success and growth. So let’s understand what is needed to gain exceptional results. Cloud Computing & Business Cloud computing has been around for a long time now. It can not only increase efficiency but also offers better security and fast process operation. To make it highly effective and enjoy its full benefits, it’s important to take help from an experienced team. Also, businesses can choose from the wide range of cloud service providers available in the market according to the requirements. Applications Honestly, the number of smartphone users has increased in recent years. So to make the product and services reachable to a larger range of customers, organizations need to hire developers and develop web or mobile apps that are responsive and user friendly. It is the best way for gaining success in any business. Social Media Social media like Instagram, Facebook, Linked In, Twitter, etc. have changed the way people interact with each other and brands. It makes the social media platform a gold mine for businesses. All that an enterprise needs to do is create a business profile and start targeting the potential customers while connecting and engaging with them. It helps in increasing attracting, offering, and sharing products or services with the audience. Big Data Analytics The last and most important factor in any business growth is data. The growth strategy of a business should be supported by relevant and valid data. To use data effectively, business leaders need to learn the way to collect data around the internet and analyze it for achieving valuable insights. With the right data in the pocket, companies can easily adapt powerful strategies, approaches, and plans instantly to give an unbeatable boost to their business. Conclusion Undoubtedly, technology gives a high potential for strategizing foremost business plans. But, the entire process of digitizing business will take time. However, by listening to the customer and identifying the right tools, businesses can enjoy digital value. All that organizations need to do is keep themselves updated with new technology tools and trends that can highly impact the business growth.

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How Art Van went from a retail juggernaut to a house afire

Article | March 16, 2020

The Warren-based retailer's sudden announcement that it would wind down operations comes only three years after its late founder, Art Van Elslander, sold the company to a Boston-based private equity firm, Thomas H. Lee Partners LP, in an estimated $550 million deal. How did a seemingly healthy, valuable and beloved company go so wrong so fast? After its 2017 acquisition, Thomas H. Lee set an aggressive strategy to open 200 more stores and double revenue to $2 billion by 2020. But being saddled with roughly $400 million in debt and no financial cushion to respond to the disruption of changing furniture habits left Art Van's business model sitting on a tinderbox. Management missteps were all the fuel needed to burn the house down.

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Spotlight

mytheresa.com

At Mytheresa, technology meets luxury fashion in a space that celebrates both creativity and digital advancement. With our Munich head office centered in the heart of Europe, we have an international reach as speciality teams are based around the globe. Working together we strive to exceed our customer’s expectations with a passion for innovation. We are always on the lookout for the brightest talents to join in our success.

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