As per Allied Market Research, the global 3PL market is exploding and estimated to cross 1.79 trillion valuations by 2027. It is expected to grow at a 7.1% CAGR. The ecommerce business is an exciting world but comes with its share of pains. Logistics is one of the primary areas of concern, especially when you are in the scaling phase. With more and more businesses moving online, the greater focus has been on streamlining the digital processes, but fulfillment has been left behind by many in their tryst to remodel themselves. When organizations struggle to fulfill orders in-house because of…
Multichannel Inventory Management – A Guide
In the past, everyone operated offline via their brick and mortar stores. Then came the wave of the internet, which led to the creation of online-only brands like Xiaomi and OnePlus. These companies had no physical presence and either resorted to their website or ecommerce partners like Amazon for sales. But everyone soon realized that there was a need to go multichannel. It would enable them to reach a wider audience and sell more. So, we then saw a slew of brands that expanded, some from online to offline and online, and others from offline to online and offline. Given…
Ecommerce Market Research: How To Go About It?
When there were only brick and mortar stores, businesses would know where the next potential customers are coming from. With ecommerce stores, the possibilities are limitless, and the handful of entrances have now been replaced by ‘n’ number of them. So, where and how do you start your marketing research endeavor becomes more vital when it comes to ecommerce. Today, there are multiple ways to undertake ecommerce market research. Not to forget the increasing number of tools that promise to make your task easier and more fruitful. But it is imperative to remember that one size doesn’t fit all in…
Ecommerce inventory management: What does it include?
Are you running an online business? If yes, inventory management is a must for any ecommerce business to thrive. It is integral to expansion and must be considered to succeed in this competitive arena. The article discusses critical points of ecommerce inventory management and what it entails. What is inventory management? Inventory management refers to the sourcing, storage and sale of stock. It involves knowing how much stock your business has, how much to sell and where and how long to keep the stock. Why is inventory management important for ecommerce? The importance of an effective, cohesive inventory management system…
B2B Ecommerce Trends To Follow In 2022
As we head into 2022 and with the pandemic continuing to show new variants, the world of online sales continues to thrive and become more competitive. It is important for your business to focus on the everchanging B2B e-commerce environment to stay ahead of your competitors. What is B2B ecommerce? Business to business or B2B ecommerce is the sales of services or goods between two businesses via online channels. B2B transactions can be simple, for example, order of office supplies, or complex, involving quotations, product descriptions and configurations, overseas shipments, warehousing, etc. Types of B2B ecommerce There are several types…