Average Order Value: What Is It and Why Is It Important?
Average Order Value (AOV) is a metric that helps retailers understand their customers’ purchasing behaviours. An average order value tracks the average dollar amount spent every time a customer places an order. Like with all other key metrics, AOVs can be tracked over any time period, but most companies prefer to monitor their AOVs as [&helli ... Read More
January 6, 2020 inventory reporting, pricing strategy, retail, sales ordersGetting Ready for a Multichannel Christmas
Convenience is key when it comes to Christmas shopping and eCommerce sellers thrive during the holiday shopping season. They have the opportunity to increase their sales with multichannel selling. If you’re a business owner or trying to manage inventory for the holiday season, it’s important to prepare yourself. There is a spectrum of channels ... Read More
November 13, 2019 B2B, Christmas season, eCommerce, multichannel, retail, seasonal demandThe Importance of Sales Reporting to Successful Inventory Control
Every retail, eCommerce or business owner should be familiar with financial reports because they are dictated by legislation and require the disclosure of financial results. These reports are usually released quarterly or annually and include the Balance Sheet, Income Statement, Cash Flow Statement and Statement of Changes in Equity of the organisa ... Read More
August 29, 2019 demand forecasting, eCommerce, inventory control, profit reporting, retail, sales orders, sales performanceDJ Papers says goodbye to cumbersome software for better cloud-based alternative
DJ Papers were facing a growing problem: their bespoke backend system was hampering business growth and their inventory management was spiralling out of control. We had a chat with Karyn Greenwood, finance manager of DJ Papers on how their team overcame those problems. DJ Papers have been a family-owned and run business since 1972. We […] ... Read More
August 9, 2019 customer spotlight, GB, inventory management, inventory management software, manufacturers, retail, UKHow Customers are Changing the Face of eCommerce
Customers’ expectations and shopping habits are changing eCommerce, causing implications to the way retailers are conducting their businesses. Among today’s demanding consumers, changes have led to retailers closing unprofitable stores and to invest in digital platforms. The insights we present to you about consumers shopping habits below is a ... Read More
June 12, 2019 eCommerce, online inventory management, retail4 Inventory Management Techniques to Simplify the Life of an Online Retailer
The world of eCommerce is expanding at a rapid rate with more and more opportunities opening up for online retailers. It really is an exciting time, providing larger audiences with greater geographical diversity equating to better selling opportunities and higher profits. However, all this promise can be undone very quickly without the appropriate ... Read More
May 23, 2019 inventory control, inventory management, online inventory management, retail, stock controlThese 4 Key Elements of a Multichannel Strategy Can Impact Your Supply Chain
Going online does not just mean using desktops and laptops anymore — it is anytime, anywhere connectivity afforded by tablets, smartphones and smartwatches. Our more connected world has unsurprisingly changed the way we shop. As a direct result of exponential growth in online spaces and with numerous ways to purchase nowadays, retailers are takin ... Read More
May 17, 2019 inventory control, inventory management, multi-channel, retail, stock controlBest Practice Inventory Control Techniques for Online Retailers
Successful inventory control enables retailers to meet customer demand by avoiding stockouts and reducing the risk of overstocking to free-up cashflow. It is crucial in the world of eCommerce, for even the smallest online retailer to have effective inventory control. Following are best practice inventory control techniques to help online retailers ... Read More
May 9, 2019 eCommerce, inventory control, inventory management, retail, stock control, stocktakeMaking it as a Multichannel Merchant: 4 Steps to Implement for Tangible Results
Being successful in today’s retail market is no easy feat and, in fact, can be quite daunting. However it is certainly not impossible, and with some careful thought and consideration, embarking on the right steps at the right time and committing to some hard work can get your brand off the ground. In this article, […] ... Read More
May 1, 2019 eCommerce, inventory control, inventory management, multi-channel, retailHow Enhancing Customer Experience Can Enhance B2B Sales
The wholesale eCommerce industry is in its infancy, but the market is already worth trillions of dollars. As the scope of B2B eCommerce expands, this means B2B sales will grow with it. However, will B2B eCommerce sales follow the lead of B2C? Though it might share some similarities to B2C, the customer relationships within B2B […] ... Read More
April 29, 2019 B2B, customer experience, distribution, eCommerce, manufacturing, retail, sales performance, wholesale, wholesalersConsumer Shopping Preferences are Driving Changes in The eCommerce Sector
In the last few years, the eCommerce sector has seen a shift in what drives buyer behaviours. Where previously consumers looked for quality packaging and fast delivery, they are now prioritising convenience, experience and quality when making online purchase decisions. The ever-changing perspectives on how consumers shop and interact with your bran ... Read More
April 26, 2019 eCommerce, inventory stock, omni-channel, retailWhat a Multichannel Strategy Means for your Supply Chain
A shift in consumer shopping preferences and behaviours is driving the growth toward multichannel retailing. This multichannel strategy has a direct impact on a business’ supply chain and creates different priorities for both retailers and their suppliers. For retailers, supply chain priorities include increasing on-shelf availability while reduc ... Read More
April 23, 2019 eCommerce, multi-channel, retail, supplier relationship, supply chainThe Impact of a Multichannel Strategy on Your Entire Supply Chain
Multichannel retail strategies open up selling opportunities to the vendor, increasing the level of interaction with consumers and offering a more and more customised approach to retail. However, this does not come without impact to the supply chain, both positive and negative. So, what are some of the effects to be aware of? Top of […] ... Read More
April 17, 2019 inventory management software, multi-channel, retail, supply chainUnderstanding the Power of the Consumer in the eCommerce Sector
Retail is driven by the consumer and always has been — the eCommerce sector is no different in terms of its susceptibility to consumer preference. This article considers how consumer choices have changed the eCommerce landscape, and how e-tailers (eCommerce retailers) must adapt. Timing is everything With the dawn of new, consumeristic generation ... Read More
April 16, 2019 eCommerce, retailIdentifying the Key Differences Between a B2B and B2C Supply Chain
There are two broad categories of business relationships for facilitating the sale of goods and services. B2B is the business to business category and B2C the business to consumer category. In B2B, transactions take place between one business and another business, whereas with B2C the transactions happen between the business and the consumer. B2C b ... Read More
April 15, 2019 B2B, B2C, eCommerce, inventory control, multi-channel, retail, supply chainThe 3 Key Stages of Multichannel Order Management
Order management is as an ecosystem of sorts that incorporates every task and activity involved with taking and filling orders, including the many interrelated functions that must work together for the entire order management process to run smoothly. Customers expect a seamless shopping experience from your brand and from the moment they hit the bu ... Read More
April 13, 2019 eCommerce, multi-channel, order fulfillment, retailCentralised Inventory Management: Is it right for you?
Inventory management is a game changer when it comes to retail profitability. When your inventory is managed well, other parts of your business reap the benefits. However, the importance of inventory management isn’t always appreciated and can be overlooked by business owners. This is interesting because, from a financial point of view, inventory ... Read More
April 11, 2019 eCommerce, inventory management, inventory management software, multi-channel, retail5 eCommerce Mistakes to Avoid for Ultimate Success
As the world becomes more globally connected through screens, the retail sector is also certainly being affected. Implementing an eCommerce sales channel can do amazing things for your company, however, there are some clear mistakes you don’t have to be doomed to repeat. Clinging to manual methods Trying to still retain manual control of your ... Read More
April 9, 2019 B2B, eCommerce, multi-channel, retail3 Smart Tactics For Achieving Multichannel Retail Success
Consumers today shop across multiple channels switching between online and offline, to research and buy products they want, when they want them. As a result, retailers are now implementing multichannel selling strategies to keep abreast of customer expectations. However, it is important not to confuse omnichannel with multichannel because the two s ... Read More
April 5, 2019 B2C, inventory management system, multi-channel, retailFinding Success As A Multichannel Retailer
When you’re a multichannel retailer, it’s a powerful position to be in. From a competitive standpoint, you are engaged in a variety of platforms that allows you to stand your ground and address niche markets. You have a substantial advantage, reaching potential customers locally and internationally, both online and offline. However, getting to ... Read More
April 1, 2019 multi-channel, retailHow Inventory Management is Paving the Path Forward in an On-demand World
Inventory management in an on-demand world is one of the biggest challenges in the supply chain today. No longer is a business merely buying in bulk and selling from just a brick-and-mortar store. Customers now have the ability to buy from many places online and also expect to be able to return things easily too. […] ... Read More
March 20, 2019 eCommerce, inventory management, order fulfillment, retail, supply chain