Since product content is efficiently stored and managed, the distribution to the supporting manuals is critical. Retailers should ensure a management process that co-ordinates with the warehouse, logistics, and customer to provide a seamless presentation of the latest versions required.
Systems should be smart to trigger alerts that inform sales and marketers when a new product is introduced without online help or whether an existing product is discontinued. These alerts should be carried one step further to inform the customer who has already brought the product to inform that such changes have occurred. This strengthens your customer relationship and the shopper feels confident in their purchasing decisions.
The content management systems you incorporate within your site require flexibility to create manuals. This avoids unnecessary delays especially during peak seasons where your technical teams are too busy with logistics and supply management.
Inventory management is a key aspect of retail business. If the inventory is not properly and diligently managed, it can cause huge loss to the business. Here are a few proven tips to improve your inventory management.
Maintain minimum stock level
If you maintain a minimum stock level, you will enough time to receive the new orders from the vendor and also the products will be available whenever the customer needs it.
Use the FIFO (First in First Out) method for perishable goods. This will make sure that old ones are not wasted and will get ample time to leave the store before expiration.
Allocating different folders to different products will help you to effectively manage the inventory and also helpful in updating the records.
Stock control System
The ‘correction’ process in the stock control system can be used for making adjustments. This will happen when your business would be chosen for organizing an event or charity. In these cases, purchased stock will go out of the door with no actual sale attached to them. This needs to be managed carefully in your stock control system.
If an item is incorrectly pulled from stock, not only would inventory be off, but the mistake of shipping the incorrect item would cause customer dissatisfaction, increased shipping and overhead costs, additional man-hours to “adjust” the problem, etc. Barcodes eliminate these situations.
Ecommerce Giant Amazon, on Thursday announced that they would be opening their latest order-fulfillment center in Kunshan, China.
Amazon.com Inc, the world’s largest ecommerce company by market share, onThursday announced the opening of its latest order-fulfillment center in Kunshan, Jiangsuprovince. Read more
ONE Distribution announced that it would be expanding its ecommerce site SUPRA into four European markets. Currently SUPRA is available for the customers in France, England, Germany and Spain.
“SUPRA has had a lot of success with e-commerce in the US,” said ONE Distribution CEO, Scott Bailey. “We’ve been working on making our products more accessible to the European market for some time, and we’re extremely pleased to be able to offer service to them now, just in time for the holidays.” Read more
Technology giant Oracle is not letting off its acquisition spree. After a gap, followed by a series of acquisitions, Oracle Inc, on Tuesday, announced that it would buy Endeca Technologies for an undisclosed amount. Endeca is known for its robust enterprise search solution that could be integrated with ATG commerce, the commerce suite of ATG that Oracle acquired some time ago.
In a press release, Oracle reveals that “the combination of Oracle ATG Commerce with Endeca’s inFront web commerce solutions is expected to enhance cross-channel commerce, merchandising, and online customer experiences.” Read more
PayPal, the premier payment processor predicts that ecommerce will account for $37.7 billion worth of spending by 2013. This will make the retailers to invest more on the opportunities presented by internet.
“The culmination of new technologies and new business models are radically altering the retail landscape as we know it. Consumers are connecting through local, digital, social and mobile channels that add relevance and convenience to their lives,” said Frerk Malte-Feller, Managing Director of PayPal
PayPal found the increasing use of smartphones accounts for much of the e-commerce growth, with ownership of internet enabled phones at 65 percent of the total handset market in Australia. Also the growth of mobile payments has seen a 430% Year-on-Year growth.
YouTube, the premier video streaming website of Google, has integrated ecommerce capabilities that will help its partners to sell concert tickets, digital downloads and other services through its new store – ‘Merch Store’. YouTube has now more than 800 million visitors per month.
“We’re launching a feature called the Merch Store that will allow YouTube partners to offer fans merchandise directly on your channel,” explained Christian Weitenberner, senior technical account Manager, YouTube.
This will add a new dimension and a new revenue stream other than advertising. Couple of weeks back, YouTube added movie rental capabilities in the UK.
Baynote, a leading provider of ecommerce personalization solutions, and Crowd Factory, the leader in crowd-powered marketing applications, today announced they have partnered to enable merchandisers to create and deploy social offers in line with real-time buyer intent. Rather than displaying offers and incentives in an arbitrary schedule to all online shoppers, Baynote allows the optimum Crowd Factory offer to be presented to individual visitors based on their current frame of mind and interests. Through the partnership, online merchandisers benefit from higher conversion rates on their existing offer and deal marketing activities.
“Flash deals and referral offers are an exciting area of innovation in e-commerce, but they often dismiss a crucial element: what a customer is actually interested in buying when they see an offer,” said John Kelly, chief operating officer at Baynote. “If a visitor is interested in buying a fleece jacket but is offered a daily deal on a swimsuit, that deal will almost never convert. We’re thrilled to be working with Crowd Factory to make social offers much more relevant to shoppers.”
“Crowd Factory is a pioneer in crowd-powered marketing applications that increase customer acquisition and engagement,” said Sanjay Dholakia, CEO of Crowd Factory. “The combination of Baynote and its Personalization Platform with our social offers will be especially attractive to merchandisers who want to go above and beyond a one-size-fits-all approach.”
Takealot, a South African retail store announced that they will take 40% stake in Mr. Delivery Express, subsidiary of Mr. Delivery Holdings provide ‘same-day’ delivery services.
With this partnership, both companies aim to provide compelling ecommerce experience for online shoppers and aim to deliver items in hours and not days. Read more
Shoe Carnival, a value-priced footwear and accessories retailer, has announced its ecommerce store – shoecarnival.com. Shoe Carnival offers more than 1500 styles of footwear and accessories from the most coveted brands like Adidas, Nike, and Puma etc. Read more