When planning to enter foreign markets, choosing the right target location is an important step. It largely determines whether the venture will be a success and allow you to generate more profits. For example, you can use a PEST analysis to examine the external factors of the business environment that affect the development of your company. These include:

• Legal regulations – does the country have specific guidelines for manufacturing, selling goods, and providing services? Will you need certain permits and certifications to operate your business legally? In addition, get familiar with tax regulations to best manage your finances and avoid potential penalties,
• Social and cultural issues – in some countries, the demand for certain goods may differ significantly from other places in the world, for example, food, clothing, or alcohol,
• Competition – is there a lot of competition in a particular foreign market? If you have an innovative, niche product or service, you can use a blue ocean strategy to stand out from the competition. Alternatively, you can compete with other companies by looking for other ways to gain an advantage,
• Transportation – consider the cost and organization of transportation so you don’t stretch your company’s budget and keep profitability at a good level.

Is it worth entering a foreign market?

There is no doubt that international expansion is a big challenge that requires a lot of preparation and involves certain risks. On the other hand, the prospect of much higher profits and business development speaks in favor of this solution. What are its pros and cons?

Pros

• Optimizing costs – in other countries, operating costs (e.g., depreciation, tax liabilities, employee salaries, rent, etc.) can be much lower than in the home country,
• Minimizing risk – by diversifying and expanding geographically, you are less dependent on economic or political events in a particular country. By being in multiple markets, even in a crisis situation, you still have the chance for a steady source of revenue and business growth,
• Gaining a competitive edge – entering an emerging market with an effective strategy can enable you to dominate it in a short period of time. Such a position allows you to build strong brand equity, increase sales, etc. However, this requires a quick response to change and a flexible approach to take advantage of opportunities as they arise.

Cons

• Cultural barrier – differences stemming from different customs and cultures can significantly affect the pace of business development, so it is not worth ignoring this aspect. Ignorance of the applicable rules in business or customer relations can have unpleasant consequences,
• Legal/financial risk – any investment of this kind carries a certain amount of risk because sometimes the returns are lower than expected due to external factors or organizational shortcomings. Therefore, it is worth conducting a risk analysis and identifying possible threats to the company’s foreign expansion.

Strategies for entering foreign markets

There are many strategies for entering foreign markets. Here are a few of them:

1. Export

It involves producing goods in the home country and then shipping and selling them in the foreign market. It allows you to save on production costs if they are higher abroad than in your home country. On the other hand, you should keep in mind the costs associated with transportation, any fees, distribution, etc.

It involves producing goods in the home country and then shipping and selling them in the foreign market. It allows you to save on production costs if they are higher abroad than in your home country. On the other hand, you should keep in mind the costs associated with transportation, any fees, distribution, etc.

2. Strategic partnerships

Another solution is to form a strategic alliance with another company. In this way, companies can share their resources, technology, experience, and know-how to grow together and conquer the foreign market.

3. Franchise

This is a way to expand your business by using another company’s brand and know-how in exchange for a licensing fee.

4. Foreign direct investment (FDI)

It involves either investing in a newly established company (greenfield investment) or carrying out a merger, i.e. transferring ownership rights to the company’s assets abroad. Greenfield investment is quite expensive and risky, but it also has the highest profit potential.

Summary

Entering a foreign market is an important part of a company’s development and can bring many benefits. Choosing the right strategy depends on many factors, such as the type of business, risks, availability of resources, and legal and cultural issues. This is why it is so important to conduct a detailed analysis of the market and business environment in order to understand the specifics of the country and mitigate risks.

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To define a conversion rate, we must first clarify what a conversion itself is. It occurs when a visitor to a particular website takes an action that the owner of that website expects them to take. Such actions can include making a purchase, signing up for a newsletter, creating an account, downloading an e-book, or even sharing an article. It all depends on what business model a particular website has adopted and what its priorities are.

The conversion rate tells you what percentage of visitors converted. You can calculate it yourself, of course, but most e-commerce systems have built-in tools or the ability to install additional plug-ins that analyze and calculate the conversion rate on an ongoing basis.

What conversion rate is good? Well, the higher, the better. But there are certain limitations to it. It’s impossible to reach a 100% or 50% conversion rate. There are many statistics available on the Internet broken down by industry, as what is a low rate in one industry may be a top rate in another. For example, the furniture industry has a low conversion rate, and a result of 5% may be considered high, which in turn will be a low performance in the fashion industry.

The statistics say that only 10% of the companies on the Internet achieve a 10% conversion rate, while about 25% of the companies get a conversion rate of more than 5 %. Given these results, it can be assumed that a conversion rate of about 10% can be considered very good. However, it is always a good idea to check how your site stacks up against the specific industry.

Why should you care about improving your conversion rate?

The answer to this question is very simple – the higher the conversion rate, the more users make a purchase on the site, which means greater profits for the company. Thus, with the same amount of traffic on the site, more revenue can be generated. This is because it is not about creating powerful marketing campaigns and increasing traffic to the site. That is not what is important here.

Contrary to what you might think, a site with low traffic that has not been heavily promoted can have a better conversion rate than a site that has been advertised. If a site does not convert, then it is not generating profit. This is also a signal for the company to look for possible shortcomings or errors on the site itself. If new visitors come in, seem to be interested, but ultimately do not take any action, it means that something has gone wrong and it is worth taking a closer look at what it is.

How do I increase conversions rate on my Shopify store?

As you are reading this article, you probably already know what a conversion rate is, and you also know that it’s a good idea to make sure it’s as high as possible. There are several proven ways to do this. However, there is no silver bullet that will always produce the expected results. Each method must be customized, and time must be spent monitoring whether the change is working, as well as making adjustments and testing. Consider the following tips as inspiration or a stimulus to try something new.

1. UX design

When customers visit your website, they expect clear and easy navigation, readability, and interesting information. If they don’t really know what the site is about and what they’re supposed to do on it, there won’t be any conversions. The competition is so fierce that such little things are enough to make the customer leave the site and look for what they need somewhere else.

2. Unique product descriptions

This change can bring a double benefit. First of all, customers who enter the site and receive comprehensive information about the product and can easily find all the necessary data about it are more likely to buy. In addition, such unique descriptions have a positive influence on SEO.

3. Effective search filters

If the customer wants to buy a specific product, they expect to be able to easily find it in the maze of other items. Therefore, remember to put a search bar and filters on your site. This will help customers select products by color, price, or purpose, not making them browse through everything, but only a group of products of their choice.

4. Mobile-friendliness

Research shows that the majority of today’s Internet users are mobile. While it’s obvious that the site should be adapted to mobile devices, many of them are not responsive. Improving this functionality will help increase in-store conversions.

5. Call to action

A call to action must stand out on the page and be a strong incentive to click. Extra information is just a backdrop for what is the most important. Often, however, the CTA is not clear enough or is in the wrong place, causing site visitors to lose the main purpose of the page. So where should it be located to be visible and increase in-store conversions?

The only effective way to see where to place CTAs is to study customer behavior on your site. For this purpose, you can use sophisticated analysis tools that record traffic on the site and display it in the form of heat maps. You can see where people stop on the page, what they click on, and whether they scroll down the page at all. This analysis can help you determine where to place the CTA button.

6. A/B testing

When you discover at what stage your customers resign from shopping and you already know why, create a new version of the site, and run A/B tests to compare whether it actually performs better. Only if your assumptions are confirmed should you implement your plan and replace the current site with the new version.

7. Company information

Internet users tend to be cautious, especially when it comes to companies they have never dealt with before. That’s why it’s important to include detailed company information, clear terms and conditions, product return policies, and contact information. Adding an “About Us” section that describes your company’s vision and mission, as well as its founding history may influence the perception of the company as trustworthy, which will be an additional advantage.

8. Flexible payment methods

Shopping carts are abandoned at different stages and for different reasons, but it is often at the checkout stage. If a customer encounters a hassle or does not have the option they use most often and are most comfortable with, they are likely to abandon the shopping cart. Offering a variety of payment methods gives customers the choice they want.

9. Page speed

The selection of plugins and tools to improve your Shopify store is wide. Many of them are useful, but in excess, they can make the site load more slowly. Page load speed is one of the most important elements that affects whether a user will convert. To avoid this, regularly review your plugins and remove those you don’t use. You can also review the features available within a particular Shopify theme and see which ones users are not using.

10. Coherent marketing campaign

A marketing campaign is one piece of the puzzle that drives sales and increases conversions. Effective advertising gets people to your site, and if it’s optimized and easy to use, they’ll make a purchase. So if you want to increase conversions, you need to make sure you have the right marketing campaign in place. Opt for clear communication, choose your target audience, and analyze your shopping personas well.

Summary

A higher conversion rate is a chance to increase sales revenue and stand out from the competition. Understanding that it’s not the marketing campaign itself that matters, but the quality of the website, is the foundation for success. Treat it as a showcase for your business and make sure every element is fine-tuned and the site is a user-friendly place.

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What is e-commerce testing?

E-commerce testing can be defined as the process of testing various elements of a website or an application, which can be either manual or automatic (depending on your capabilities). Companies across industries usually test their websites and applications in crises (e.g., a drop in sales, data breaches, etc.) and before the peak season (to make sure everything is working properly).

However, the process should be conducted regularly to constantly improve the user experience. After all, its purpose is to check if online storefronts meet business requirements, work properly, and meet users’ expectations.

Types of e-commerce testing

Various elements can be examined during the e-commerce testing process and there are many types of testing for e-commerce apps:

• Functional testing – verifies that all processes and integrations work properly (e.g., adding products to a shopping cart, CRM or ERP systems),
• Performance testing – examines whether an application or site performs its function, for example, is accessible and fast enough even under heavy workload,
• Security testing – checking whether the site or application are adequately protected from hacking attacks,
• Compliance testing – checks whether the application or website meets all the legal requirements (e.g. privacy policy, terms of online store, etc.),
• Compatibility testing – ensures that the platform works well on various browsers, mobile devices, and operating systems,
• Usability testing – assesses whether an application or website is easy to navigate, user-friendly, and intuitive, ensuring a positive user experience.

Benefits of e-commerce testing

E-commerce testing should be an inseparable part of the website development process in the e-commerce industry, as it brings several benefits. First of all, it can help companies reach their business goals, for example, increase sales, improve conversions, build a reputation, and get new customers by:

• Reducing errors and problems – e-commerce testing plays a crucial role in detecting and fixing errors or preventing problems that can hurt a company as a whole (e.g., leading to losing funds, customer trust, and potential revenue),
• Improving quality – detecting integration and security errors, and then taking appropriate corrective actions makes the app better rated by both customers and Google,
• Enhancing customer experience – the better the quality of the website or application, the greater the customer experience, which translates into more conversions and increased sales,
• Performance optimization – better performance of a website or app in terms of its features, integrations, security, and speed is another element that affects customer interest.

Summary

Through the e-commerce testing process, you can learn what needs to be done to make your online store site or application not only functional, but also usable, secure, and efficient. By addressing the identified errors, you can increase sales, attract new customers, and ensure greater customer satisfaction, while reducing the risk of expensive problems.

It’s important, however, that this process is not just about improving the user experience or increasing user security, but also about adapting the platform to the changing market and technology needs. After all, flexibility and a rapid response to change are key to success in the competitive e-commerce industry.

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What is the metaverse?

When in 2021 Mark Zuckerberg announced Meta, Facebook’s new parent company, and presented the metaverse as the future direction for their development, he sparked people’s interest in virtual worlds in relation to ecommerce. As the concept is only just developing, it’s difficult to provide a single and clear definition of the metaverse.

It is understood as a digital universe that integrates virtual reality (VR), augmented reality (AR), the Internet of Things (IoT), and other interactive technologies to create a “new version of the Internet.” In this immersive virtual world, users can navigate and interact with each other in ways that surpass traditional web applications. It aims to provide a more advanced and immersive experience, allowing users to engage with a wide range of digital content, products, and services.

How will the metaverse revolutionize ecommerce?

Industry experts forecast that the metaverse will revolutionize ecommerce. It will allow future shoppers not only to view and buy products online but also immerse themselves in a virtual environment. Instead of looking at photos or videos of the offered products, they will be able to move into virtual stores, view 3D models, and test them in real-time.

It will also open up new opportunities for social interaction, for example, meeting in virtual spaces, sharing experiences, and recommending products to others. This will create an authentic and engaging online community that goes beyond traditional communication frameworks.

The metaverse uses advanced technologies such as artificial intelligence, augmented reality, virtual reality, and blockchain to create an integrated and immersive environment for users. By introducing these solutions to commerce, brands, and retailers have the opportunity to offer a more personalized and customized shopping experience.

Through data analytics and artificial intelligence, it can tailor offers, promotions, and recommendations to individual user preferences and needs. This enables more precise and effective offer management, increasing the chances of sales. For this reason, companies across industries are becoming interested in this modern technology.

Challenges of the ecommerce

The revolution of ecommerce through the metaverse is affecting both consumers and companies. For consumers, it means the ability to learn more about products before they buy, which results in a more interactive and engaging shopping experience.

For companies, in turn, it creates new opportunities for building virtual stores, personalizing offers, managing online communities, and developing stronger relationships with customers. Applying the metaverse to ecommerce requires a significant change in your marketing strategy. It also won’t be possible without advanced infrastructure and prioritizing user privacy and cybersecurity.

Summary

The metaverse is one of the hottest topics in 2023. Consumers and entrepreneurs are following companies that have created their own virtual worlds for customers (e.g., Nike, Carrefour, Gucci, and JP Morgan). Such initiatives are driven by advancing technology, growing interest from investors, and increasing demand for personalized shopping experiences. As it continues to gain momentum, it’s crucial for businesses to stay informed and adapt their strategies to leverage its potential.

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What is a Shopify landing page?

In all the guides to running an online business you will read that every online store should have a landing page. But what are we exactly talking about? Well, a landing page is where your potential customers will land after clicking on your advertising link. It’s the first thing they’ll see and evaluate. It turns out that according to research, 55% of users spend less than 15 seconds on a landing page. That means you only have a moment to delight them with your products and convince them to make a purchase!

That’s why it’s so important that your landing page is attractive, intuitive and in line with your brand ideology. Fortunately, Shopify offers a wide range of tools to help you create a great landing page without the need for programming skills. You can customize the look, layout and content of your site to perfectly reflect the character of your brand and delight your visitors. If you want to grab customers’ attention, increase conversions and achieve e-commerce success, you can’t miss out on the shopify landing page opportunities.

What benefits can come from building a Shopify landing page?

Do you think landing pages are created only to increase sales? Indirectly yes, but not always. It all depends on what kind of conversion you want and what kind of action you want to get your audience to take, as well as where you are in business.

For a company that has built its customer base, has followers and several products on the market, it is important to sell and reach its audience with the new product. So they will put a new product on their landing page and encourage people to buy it. In contrast, a company that is just entering the market and looking for its loyal audience will care about something completely different. Its task is to convert potentially interested consumers into regular customers. Such a landing page should therefore include a newsletter sign-up form and an offer that encourages people to leave their personal information. A discount code or a free electronic product such as an Ebook can be a persuasive factor.

Why is Shopify the ideal platform for creating landing pages? Primarily because of the immense flexibility it offers. When creating a Shopify landing page, you can choose from a variety of styles, colors and layouts and customize virtually every element to suit your needs. In addition, on the Internet, you can find a whole host of applications dedicated to creating landing pages on the platform, which make the task easier and ensure that even a user with basic programming knowledge can handle the task.

Shopify also provides analytics tools to track the effectiveness of your landing page. You can monitor the number of visits, average time spent on the site, conversion rates and much more data that will help you understand what works best for your audience. With this information, you can customize your landing page to maximize results and achieve success.

How to create your own Shopify landing page step by step?

Let’s start with the fact that there are three main methods to create a Shopify landing page. You can:

• Take advantage of the features available on Shopify
• Use external applications
• Establish a partnership with a programmer who will code your site

Shopify landing page theme editor

Those who don’t have much experience in creating websites can start with the basic option of creating a landing page directly in Shopify. Below we will discuss how to do this step by step.

1. Step one – choose a theme

The first step in building your landing page on Shopify is choosing the right template. Shopify offers a wide range of options, with different layouts, colors and functionalities. You can further customize each template, adding or removing individual elements. However, it’s good practice to choose one that largely corresponds to your final vision for the site. This is a safe solution, especially if you are just starting with a Shopify landing page. Remember that it’s important to maintain visual consistency so that the page is in line with the rest of your branding.

How to choose a theme step by step:

• Log in to your Shopify account
Go to “Themes” tab
• Select the template you are interested in, then press “Add”

2. Customize the theme of your choice

Once you have selected a theme, you will have the option to go to the editing section, where you will customize the template. To access this tab, click the “Customize” button on the right side.



When you click it, you will go to the editing option, where you can customize or add individual elements to the page.



At this stage, you can add any elements you want your landing page to include, such as:

• Headlines
• Images
• Sliders
• Products
• Product collections

You can find such pre-prepared sections by clicking on the “Add section” tab.

The last step is to save the page design using the button in the upper right corner.

Applications designed to create Shopify landing page

Shopify is a developed app that has a whole bunch of features, including dedicated tools designed for creating landing pages. You can find them in the Shopify app store. Below we will present a few of them that are the most popular.

Shogun

Shogun is a simple-to-use yet a very advanced tool that even experienced designers use ondailyIn addition to the ease of building landing pages, it is characterized by huge analytical capabilities. Thanks to the A/B tests available in the application, you will easily optimize your site. The application is available in a trial version, while the full version is paid.

EComposer

Because of its intuitive operation, this application is ideal for beginners who have no experience in creating landing pages. It provides access to more than 100 ready-made designs, so there is a high probability that you will find a layout that practically completely meets your requirements. In the basic plan, which is completely sufficient for the beginning, the application is free.v

PageFly

The full version of PageFly gives you access to more than 80 different page templates, each with a high conversion rate. All editing of individual sections comes down to a simple drag-and-drop tool, making building your vision for your site a breeze. All templates are adapted to various digital devices. Operation of the application is not complicated, however, if you encounter a problem along the way, you can take advantage of the 24/7 technical support, where during the live chat specialists will suggest what to do. The app is available in both free and paid versions.

Each of these tools is intuitive and allows you to easily create an interesting landing page design, even if you have no experience or knowledge of programming. All you need to do is spend some time testing your chosen application and clicking through the various options.

Self-design Shopify landing page

This solution is recommended for those who have programming expertise or a larger budget to hire an IT specialist. Creating your site from scratch will give you the confidence that every element will look exactly as you imagined it, but there is no denying that it is quite expensive.

What else is worth keeping in mind when creating a Shopify landing page?

The ideal landing page layout alone is not enough. An important part of the landing page is the content. Remember that you only have a few seconds to grab a visitor’s attention, so use strong headlines and convey compelling information. Tell your story – storytelling is an extremely effective way to keep customers interested and build a relationship with your brand. Convince the viewer why your product or service is unique, how it solves customers’ problems or impacts their lives.

Also, remember to call to action. Your landing page should include a clear and visible CTA (Call to Action) that directs the customer to take a specific action. This could be a “Buy Now” button, “Subscribe to newsletter” or “Make an appointment for a free consultation.” Remember to check that all links and buttons work properly to avoid frustrating potential customers.

Don’t forget that your landing page should also be optimized for mobile devices. Did you know that up to 54% of e-commerce transactions are made on smartphones? That’s why Shopify makes sure that your landing page is responsive and adapted to different screens, providing an amazing experience on computers, tablets and smartphones alike.

Above all, don’t be afraid to test. Treat the creation of Shopify landing page as good fun, test different solutions, play around with layouts. It’s not difficult at all, you just need to familiarize yourself with the possibilities offered by the various applications. Once you do this, you will surely create the landing page you have been dreaming of.

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Q-Commerce (a.k.a. Quick Commerce)is another alternative besides e-commerce and m-commerce. As one can easily see, the ever-emerging changes in this industry influence the dynamics of its development. In this case, Q-Commerce refers to the focus on providing express delivery to the customer by keeping the process efficient and the quality of the product or service high.

The entire sales process should fit within 24 hours. Usually, they even fit within 30 minutes from the time the order is placed. Why is this aspect receiving so much attention? This is because consumers largely on this basis, judge the quality of service and satisfaction with the purchase.

Features of Q-Commerce

What are the characteristics of fast trading? These include:

• Specific goods – this concept was most readily adapted during the coronavirus pandemic and for smaller orders of food items or medicines. It also applies to smaller-sized products, as such are easier to quickly pick, ship and deliver to the customer;
• Short deadlines – this business model specifies that it should take less than an hour to complete an order;
• Selected locations – due to the nature of this solution, its implementation is possible only in adapted warehouse spaces and locations (mostly in urban areas, and city centers);
• Well-planned logistics – such fast order processing and delivery of goods requires effective management of the various logistics processes;
• Opportunity to build a competitive advantage and a unique selling proposition (USP) – Instant delivery can be an element that sets a company apart from other businesses in the market;
• Positive User Experience – fast commerce fulfills a specific customer need (fast and hassle-free delivery), which increases satisfaction with the service and brand loyalty;
• Real-time order tracking; It is gradually introduced by key players in the e-commerce market, e.g. Amazon and drone order delivery;
• Increasingly, affiliate marketing partnerships in cooperation with influencers are used to promote Q-Commerce;
• Focus on sustainable business development – this is now an increasingly important part of doing business, so companies in this industry are looking for solutions to make their business goals in the spirit of ecology, care for the environment and the community, e.g., the use of reusable packaging;
• New jobs – with the increase in market share, there will also be an increased demand for employees in this industry, especially drivers, delivering goods. There may also be demand for complex customer service employees and e-commerce sales specialists.

Q-Commerce challenges

Like any solution, it has its pros and cons. It is worth being aware of the challenges that come with implementing this strategy so that you can prepare for them accordingly.

• An issue that should not be ignored is that due to the high demand for instant delivery, the competitive struggle will be intense. This may lead at a later stage to an increase in the price of the service (companies will want to compensate themselves for lower profits) and a reduction in the quality of service (the fight for the customer may turn into mass order-taking).
• ICT security – companies in an industry based on e-commerce have to reckon with cyber security threats. Without expert software and the use of preventive measures, crimes can be attempted. For example, personal data of customers, suppliers appearing on payment cards or transaction details can be stolen. This, as a result, can negatively affect the image not only of the company in question but also of the entire Q-Commerce industry.

How to implement the Q-Commerce model?

If you think this alternative to traditional trading can work for your business, implement the following:

1. Make sure you work with a trusted and reliable courier company. If not, look for one. The key element is the speed of delivery to the customer.
2. Pay attention to efficient inventory management and adjusting the warehouse in such a way as to maximize order collection and shipping time.
3. Introduce automation of warehouse and sales processes to optimize the time and resources required for delivery.
4. Take care of the visual aspect and functionality of the website or mobile app. After all, these are the communication channels that are most likely to work well for this kind of service.
5. Try to shorten the customer’s purchase path to a minimum, so as not to discourage them with excessive redirects. In addition, provide several payment types (including installment or 30-day deferred payment) and several ways to deliver the goods.

Q-Commerce in practice – examples of companies

What brands have already decided to start implementing the Q-Commerce model? Examples include the world’s largest online retailer or the Spanish high-speed commerce start-up Amazon and Glovo.

Amazon

The 2022 company unveiled how to deliver customer orders faster and more efficiently. It decided to use drones for this purpose, which would deliver everyday products free of charge. At the moment, the service is in the testing phase in California and Texas. Its launch is scheduled for 2024. According to the assumptions, the technology is expected to enable the delivery of goods up to only 30 minutes after the order is placed.

Glovo

It is a mobile application that allows you to order on-demand delivery of, for example, food, groceries, and courier packages. In urban areas, orders are delivered within 30 minutes as part of the Q-commerce strategy. Spain was the first country to roll out the service, to expand its territorial reach after that. The plan also included the construction of so-called dark stores, or dedicated warehouses for handling online orders. This was to allow the product delivery time to be reduced as much as possible.

Summary

It seems that with the rapid growth of e-commerce, a solution such as Q-Commerce will prove to be a hit. The focus on high-quality service combined with lightning-fast delivery may indeed meet the needs of today’s consumers and gain popularity in the coming years. It is therefore a direction that is probably worth taking an interest in and trying to implement its elements into your business strategy.

Read also: Business cycles in economy

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E-commerce sales forecasting is the process of predicting the future revenue of products or services based on various business data. It facilitates making the right business decisions. Depending on the area of interest, an effective forecast will allow, among other things, to:

• Develop a sales plan and its goals;
• Plan the company’s budget, for example, for marketing activities;
• Select the right pricing strategy;
• Develop various sales channels;
• Hire and train employees, e.g., customer service.

Variables in e-commerce sales forecast

What internal and external factors should we consider when forecasting sales? Here are some of them:

INTERNAL FACTORS

• Quality customer service and customer experience at every touch point and stage of the customer’s experience with the company;
• Prices of products and services on offer;
• Lead time for orders and delivery of goods to customers;
• Internal communication;
• Employee motivation and satisfaction levels, employee turnover;
• Number of employees;
• Marketing and sales activities and their outreach;
• Distribution of goods;
• Degree of automation of processes in the company.

EXTERNAL FACTORS

• Quality of customer service from competitors;
• Prices of competing products and services;
• Customer loyalty and feedback on the company’s products and services;
• Quality of competitors’ products and services;
• Activities of rivals in the market in terms of promotion, communication and sales;
• Market trends shaping demand;
• The impact of the macroeconomic situation on individual processes and costs;
• Sales results from earlier periods;
• Changing regulations.

Sales forecasting methods

There are many ways to do sales forecasting. These include:

• Analysis of Macroeconomic indicators

It allows for the study of business cycles, which can indicate certain sales trends.

• Delphi method

It is based on the knowledge and experience of experts in the field of sales strategy building.

• Running simulations

Gathers information by recreating the sales process as a market experiment, e.g., new product development uses previously unused online channels.

• Market research

It involves gathering information from potential customers about their realized or unconscious needs, and desires. Based on surveys, observations, etc. It is possible to determine whether there will be sufficient demand for a product or service.

• Time series forecasting

It’s a method of analyzing past data to then make predictions of future performance based on that data.

Advantages of e-commerce sales forecasting

Why use a sales performance forecast? Here are a few reasons:

• Facilitate the achievement of set strategic goals;
• Better organization of operations by increasing product availability, speeding up lead times, and higher quality service translates into customer satisfaction and building customer loyalty to our company;
• Customer satisfaction and better organization also contribute to higher revenues;
• Identifying and understanding customer behavior;
• Selecting an effective pricing strategy – setting a price level that is appropriate for the target group;
• Controlling market changes makes you react faster and make good business decisions;
• Effective management of the team – a study of commitment or satisfaction of employees identifying their needs to create conditions for more effective work and development. In addition, it can reduce costs (recruiting and hiring a candidate is much more expensive than retraining those already employed).

Disadvantages of e-commerce sales forecasting

In turn, what obstacles do you have to face if you want to conduct such an analysis?

• Lack of enough data or incomplete data – if you are just starting your business, you will not be able to make a reliable forecast of sales results, taking into account a long enough period. You can analyze your macroenvironment, competitors, etc., although keep in mind that without your data, the results may not be fully objective. It’s also worth remembering to verify the reliability of the information you’ve obtained and whether it presents the whole picture of a given sale;
• Technology – without appropriate programs to collect and analyze data, e-commerce sales forecasting will not be possible. This requires investment in IT tools, for which there are not always funds;
• Subjective interpretation of results – this limitation is due to human nature and the fact that our evaluation is often marked by emotions, expectations, and misconceptions. Such an attitude affects many spheres of life and is associated, among other things, with the so-called Dunning-Kruger effect, which manifests itself in exaggerated certainty about the decisions we make;
• Lack of clearly defined goals and strategies – the implementation of sales forecasting must have a rationale and meet certain objectives. This way you will know how to manage the whole process, what to pay attention to or what to improve. Analyzing without an action plan can cause chaos and, as a result, will not contribute to the development of your business, but only waste time, money and other resources.

Summary

Business analytics and sales forecasting are now an essential parts of the growth of e-commerce. The capabilities of the methods that determine changes in demand enable better decisions and bring in higher revenues, building a competitive advantage. However, this solution requires possessing sufficient IT tools and knowledge to correctly draw conclusions and use the collected information in your business.

Read also: Negotiating remote work with an employee, how to do it?

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In the simplest terms, a sustainable business considers not only its well-being, profits and growth during its operations but also the impact on society, the planet and consumers. This is a rather broad concept, which gives everyone a chance to find their own way to fit in with the prevailing trend. It is important that it has to do with saving the earth’s natural resources. During all processes, owners following sustainable business should be guided by the idea of preserving the planet in such a state that future generations can also benefit from it.

This is a growing issue these days, mainly because the specter of environmental catastrophe is very real. Fortunately, more and more people are approaching this issue responsibly and are not thinking only about their interests and what is here and now, but are planning their actions so that they also have a positive impact on future generations. Naturally, responsibility considers not only the business owner but also the buyer.

Branding or environmental consciousness – which is more essential to consumers?

Many brands make the wrong assumption that since the mass of customers has been loyal to them for X number of years, their approach to the environment will not change that. However, the opinion of companies is somewhat different from that of consumers themselves. More and more people are paying attention to what a brand’s approach to sustainability is and what policies it preaches. Many can abandon their previous habits in favor of new products whose mission and vision are more in line with their views.

Depending on the branch of business, these important issues will differ. In the case of clothing, composition and material quality will matter more than low price and disposability, while in the case of cosmetics, the absence of artificial dyes and animal testing will win over past habits and brand loyalty.

Of course, these are just examples, but they help to illustrate what we mentioned at the beginning. A brand’s position is not unwavering, and the variety of products on the market allows consumers to make choices based on their guidelines. Therefore, any e-commerce company that has not yet implemented sustainability into its operations should develop a strategy as soon as possible. This is the only chance to stay in the market today.

Sustainability business in e-commerce – is it possible?

It seems to many budding entrepreneurs that slogans of sustainability and business cannot go hand in hand. After all, the main goal of any business is to make as much revenue as possible. Is this the case? In part, it probably is. This is not to say that one excludes the other. Company can be profitable business and sustainable business at the same time. What is key are the steps that e-commerce owners will take to achieve this. In the case of this business, the key issues that can bring real environmental benefits are:

• Carbon footprint arising from logistics processes,
• Materials used for packaging shipments,
• Product quality – returns,
• Efficient working environment.

One of the greatest drawbacks of e-commerce is packaging. It’s a nuisance not only for the recipient, who has to store it, sort it and get it to the right place but also for our planet. While it may sound a bit over the top, caring for the environment is not just a passing trend or a slogan of activists. For many, it is a way of life and an important consideration when making purchases. The choice of suppliers is so large that consumers can afford to choose the one that meets all their requirements, including an appropriate approach to sustainability. Surely, the issue of packaging is not the only environmental threat posed by e-commerce.

The first step to change concerns abandoning the belief that an individual is powerless. Regardless of the size of your business or the field you select to operate in, even a small change in the right direction makes a difference. What’s more, it’s something to be proud of and inspire others. Hence, if you plan to change your approach and implement a sustainability strategy – speak up.

What benefits can the implementation of sustainable development bring?

The benefits of these actions that can get credited to the planet are obvious. But by implementing sustainability into your operations, you can also gain something for yourself and your business. It’s the best possible combination of good and useful.

What will your business gain when you join the green revolution?

• Financial concessions and privileges due to government regulations
• Positive publicity
• Ability to reach a larger group of loyal customers
• Competitive advantage in an employee environment

I want to introduce sustainability business – how to begin?

It’s best to start by drawing up a plan that fits your business. There is no one specific scheme that everyone can implement. The activities will always look slightly different and have various scopes. However, remember that whether it’s a small change or a big metamorphosis, the crucial thing is that you start taking action. You don’t have to take big steps right away, everyone acts on the scale that their resources allow. Have no idea where to start? We hope the following tips will bring you inspiration!

Sustainable business in work environment

Start with yourself. Consider what changes you can make in your office or warehouse to reduce your utility consumption.

Perhaps you might want to replace incandescent light bulbs with LED bulbs, which use significantly less electricity. Introduce new rules and regulations that encourage people to turn off lights and electrical appliances when they leave the room. Or perhaps you could get your employees a water tank to reduce the amount of plastic? Remember that even buying eco-friendly office supplies is a step in the right direction. You don’t have to immediately decide to set up an alternative energy source that would allow your company to gain energy independence (although if you can do so, that’s a great idea).

Sustainable business in logistics process

While many people believe that e-commerce stores contribute heavily to producing a carbon footprint, research indicates that the opposite is true. Sustainable business in e-commerce helps lower it.

All thanks to the fact that from wholesale warehouses packages are brought in larger quantities to the company’s warehouses from where they go directly to customers. In the days when e-commerce business was not so widespread, customers ordered their products in retail quantities directly from the manufacturer. Ultimately, smaller quantities of packages traveled longer distances. Thus, local shipments and distribution centers help reduce the carbon footprint.

What changes can you make in your company? Check whether the carrier you have a contract with pays attention to environmental issues – many have electric cars. You can also offer your customers to combine shipping of all products. This is an exciting option for those businesses that bring their goods from different warehouses or have a temporary shortage in stock. A customer to whom you offer even a small discount is more likely to agree to wait a little longer.

Matching packaging

The first change you can make is to opt for biodegradable materials. It’s not always possible to eliminate them, but even a partial reduction will be of great benefit to the environment. You can also eliminate excess packaging by applying the right size for your order. Of course, it is important to carefully secure the shipment so that it arrives intact to the consumer, but we know very well that often too much filling is caused by the wrong size box. You can also encourage your customers to reuse the packaging or recycle it properly.

Reduce the number of returns

There are industries where returns are inevitable. One of them is certainly the clothing industry. In this case, the most common cause of returns is size mismatch. What can you do to reduce this number by at least a little?

Opt for a clear description, add video and photos showing the item on different types of figures, and add an accurate table of measurements. Additionally, customers need to know whether the item conforms to standard sizing or is slightly oversized or undersized. While these changes will reduce returns somewhat, they will not eliminate them. So you can additionally develop a clear returns policy, including generated codes to replace printed return labels.

As you can see, these are simple steps to help you start a green revolution in your business. These are just a few inspirations for a good start. As you implement them, you are sure to see your thinking change and more ideas emerge. Perhaps you will be the next green leader? Remember to speak out about your metamorphosis. In this case, there is much to boast about.

Read also: 4 ways to boost your resilience at work

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M-commerce – table of contents:

1. What is m-commerce?
2. M-commerce vs e-commerce – differences
3. Types of m-commerce
4. Benefits of m-commerce
5. Challenges of m-commerce
6. M-commerce examples
7. Summary

What is m-commerce?

M-commerce (also referred to as mobile commerce) is one of the branches of e-commerce. It relies on online payment transactions (when shopping, selling products and services, paying bills, etc.) Using mobile devices continues to grow, so it is a noteworthy area of business.

M-commerce vs e-commerce – differences

What are the key differences between mobile commerce and e-commerce?

• M-commerce is a part of e-commerce,
• E-commerce is managed using laptops, desktops, phones, and tablets. M-commerce refers to activities exclusively from mobile devices,
• In e-commerce, it is only possible to make payments through the website of a bank or credit cards. In m-commerce, contactless payments or mobile wallets are also used.

Types of m-commerce

M-commerce can be divided into three areas:

• Mobile shopping – any purchase made through any mobile device, such as ordering books from an online bookstore,
• Mobile payments – these are payments made through mobile devices, such as paying for groceries with Google Pay,
• Mobile banking – a service that allows you to access your bank account through a dedicated application, for example, making a transfer to another account.

Benefits of m-commerce

The development of mobile commerce is driven by a number of advantages that make daily life easier for many consumers.

• Great customer service

The covenience and speed associated with m-commerce makes the entire purchasing process a pleasure for customers. There is no problem with page loading speed. It is an important aspect as many users, even after a few seconds of waiting too long for the page to fully load, will decide to leave it.

• Access to data

You have access to information about your customers like gender, age, location, preferences, purchase history. This lets you get to know your target audience better and tailor your communications or offers to them.

• Brand personalization

Knowing your customers’ needs can help you choose the right communication channel. Personalized ads appearing on Facebook, Instagram, Google Ads, etc. can positively influence people’s interest and sales. In your campaigns, it is worthwhile to introduce customer loyalty programs that encourage customers to buy, collect points and apply for discounts (you can think of this as an element of gamification).

• Automation

In m-commerce, automated transactions are pretty common. Issues related to order processing, sending email marketing content, data analysis can be handled using automation tools. This allows the company to optimize costs and increase process efficiency.

Challenges of m-commerce

Mobile commerce is not only about benefits, but also about difficulties to be faced.

• Privacy protection

Applications require you to give permission to access a lot of your sensitive information. As a company, you need to ensure your customers the sufficient level of protection to avoid fraud, and theft of personal information, etc.

• Mobile experience

Some people may still feel uneasy about this way of shopping. They are cautious about mobile payments, and they prefer to only view products on a mobile device. They finalize the purchase using a desktop or a laptop computer. Problems may appear when placing an order. In such a situation, not to waste time, customers quickly resign from shopping and are likely to use the competitor’s offer. Therefore, it’s so important to take care of the user experience and invest in continuous process improvement.

• Customer service

Encountering problems, customers are less willing to call a helpline, write e-mails or fill out contact forms. They want fast and efficient communication, so virtual assistants are becoming more and more common.

• The risk of failure

Technology can be unreliable, so you need to keep in mind possible website or application failures. As a result, being unable to make a purchase can negatively affect your company’s profits.

M-commerce examples

How do companies enjoy the benefits of mobile commerce? Let’s take a closer look at some examples!

1. Sephora

The beauty industry has been making huge profits for years, and the demand for such services continues to grow. This also means fierce competition and the need to find new ways to engage current customers and attract new ones. For this reason, Sephora has created a mobile application (Virtual Artist), which helps match the right shades of cosmetics to the user’s beauty. Apart from this, the app allows quick and convenient shopping, access to the loyalty program, news, promotional offers, and beauty tips, etc.

2. Starbucks

Starbucks has also made good use of m-commerce. In 2015, the company introduced mobile payments, which made it the leading provider of such payments in the US at some point. Additionally, customers receive personalized offers based on their past purchases. What is more, their engagement increases thanks to a loyalty program. They collect stars that can be later exchanged for money to be used at a store.

3. Online ticket reservation system

M-commerce can be applied in several sectors. In the tourism industry, we can mention apps that allow you to book hotel rooms or a table at a restaurant. Buying city tickets via mobile devices is already common in many cities, and for cultural events like concerts, you can easily purchase an e-ticket.

Summary

Technological progress is constantly changing consumers’ shopping habits and preferences. They particularly care about time, convenience, and connection with the outside world. Companies must continuously evolve to create services that meet the needs of their audience. If you haven’t implemented m-commerce into your management strategy yet, it’s high time to do so and take advantage of its possibilities!

Read also: E-commerce trends 2023: What can we expect?

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Amazon Storefront is a feature that allows you to put your online store on a popular site to provide support to small and medium-sized businesses. It allows sellers to create a brand and build customer loyalty by presenting a consistent corporate image and showcasing a full range of products without having an independently erected store. On Amazon Storefront, products from different categories can be displayed and grouped by specific characteristics (e.g., best-selling, newest or most popular). Importantly, on such a page the user will find neither distracting ads nor competitors’ offers, making this feature great for proposing your offerings.

Amazon Storefront – requirements

When setting up an Amazon Storefront, employ a special graphical tool designed for website design and customize the template (layout, content, and graphics) to suit your needs. This feature is provided free of charge, but eligible only for those who signed up with Brand Registry and have a registered trademark (most often, these entities also have a seller account on the platform in its most extensive version). It is worth noting that to set up a store on the platform on their own, the business owner does not need to have any coding skills, but only to follow the scheme.

Creating an Amazon Storefront – step by step

If you want to set up your online global marketplace store, and you meet the requirements indicated above, follow these 10 steps:

1. Log in to your account on the platform.
2. Go to the “Stores” tab, which is located in the menu in the upper left corner, and click “Manage Stores.”
3. Click “Create store” – this will redirect you to the store builder.
4. Enter the name of your store (i.e., brand name) in the box that appears, and add a logo.
5. As part of the next step, go to create the home page and follow the steps below:
   • Choose a template (from those offered on the platform) that best suits your purpose (you can choose from: storytelling about the brand, promoting the best product, or showing the entire product catalog), which will make it easier for you to place specific elements. You can also select a blank template and build the store yourself from scratch.
   • Take care of the meta description, which is a short description of what is on the page, which is essential in terms of the search engine positioning of your store.
   • Add a background (“header”), which will be visible at the very top of the homepage – it will be the first element that your store user will see when entering the site.
6. Start creating the next pages you will need (along with the header and meta description) – subcategories and products. You will add new pages by pressing the “Add page” button on the left.
7. Match up the different sections on each page by clicking the “Tile” button. To do this, just drag and drop the selected element in a specific place. Then equip each section according to your needs, with features like product listings, graphics, content, videos, etc.
8. Add products to your store by assigning the “Product” tag (you can enter all or selected products).
9. If you have all the elements ready, click “Submit for publishing”. Then the platform will have 24-72h to verify your store and publish it on the site.
10. Publish the Storefront you have created – share the information that you have on your storefront in all the channels that are most important to you (social media, newsletters, etc.) to ensure that the information reaches your target audience.

Amazon Storefront – summary

Amazon Storefront is the ideal solution for people who dream of an online store, but who would like to put it up in a short time and at a low cost – thanks to Amazon’s features, they can do it without leaving the platform. Of course, it takes time to learn all the functionalities, but once you become familiar with the layout of the store builder and learn all the elements you can use, you will discover that you can put up your e-commerce yourself, even without programming skills. If you’re eager to best promote the products you have available for sale on a well-known marketplace, you should consider taking advantage of the additional capabilities this platform provides.

Read also: What is Amazon FBA

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Amazon Sales Rank – table of contents:

1. What is Amazon Sales Rank?
2. Is ASR a meaningful indicator?
3. How to Increase Amazon Sales Rank
4. Increasing Amazon Sales Rank – summary

What is Amazon Sales Rank?

Amazon Sales Rank (ASR) is a numerical indicator that shows how well your product is selling on the platform compared to other products in the same category. It can be found on the product page at the very bottom of the section titled Product Details or Product Information. The lower the ASR, the better, because it means that your product is selling better compared to other products in its category – meaning you are consequently earning more.

Interestingly, this indicator is updated on an hourly basis (based on the number of products sold, but also taking into account sales history, for example), which means that there are often some point differences – due to the fact that thousands of products from a multimillion-dollar catalog are sold on the platform at any given time.

Is ASR a meaningful indicator?

We should treat Amazon Sales Rank as a relative indicator since it does not directly reflect the number of copies sold but only compares how many copies you managed to sell compared to dissimilar products included in the same category. Moreover, a high ASR can mean that a product is very popular, but it can equally well show that a seller is trying to sell a product in a very competitive category, where it is virtually impossible to achieve a low ASR. Thus, the indicator really measures the popularity of a product among customers of a well-known marketplace, not its sales performance.

How to improve sales rank on Amazon?

Despite its relativity, Amazon Sales Rank allows you to examine what products are in demand, helps determine the competition or increases brand awareness. For this reason, it is worth taking care to keep it as low as possible (ideally, you should be in the TOP 3). How can you increase this indicator? Below are some of the most popular tactics, but we emphasize that they are not a closed catalog (you can still opt for tailored advertising to your target audience, for example).

1. Product listing optimization

Surely you realize that on Amazon – just like on Google search – proper positioning of your product is crucial. After all, by increasing your visibility in customers’ search results, it is possible to boost sales, which will make the discussed indicator increase. Hence, you need to analyze whether your product page contains all the necessary information and whether the site is optimized for keywords.

Moreover, an attractive title, an accurate description, and good-quality photos indicated distinguishing attributes – you should not forget about all such elements under any circumstances either, as they are the basis for attracting the reader’s attention. An interesting option in this area is to conduct A/B testing of different versions of the product listing to determine which one works better and consequently increases Amazon Sales Rank.

2. Ensure product reviews

Are you taking advantage of Amazon’s ability to send review requests to customers who have purchased the product you offer? If you haven’t yet decided to enable this automatic process, don’t wait any longer – because reviews are the best social proof you can get for your site. Encourage your customers to leave positive reviews and respond to negative reviews to show that you are interested in your customers’ opinions – this way your Amazon Sales Rank will surely increase. You can enable review requests in your Seller Central account on the Order Details subpage after navigating from the Manage Order page and selecting the product that matters most to you.

Of course, the above-mentioned techniques are a way to increase Amazon Sales Rank, but you won’t start selling more (i.e., ASR won’t increase) if you don’t constantly work on improving your product. After all, several factors influence how a product’s sales, such as the quality, price or appearance of the product, as well as speed of delivery or customer service, among others, and not just the popularity (i.e., demand, existing fashion, etc.) of your product relative to other products in the same category.

Also, relevant to ARS is, for example, seasonality, which means that your product may sell less well, or even temporarily get unavailable on the site. Therefore, you must put the greatest emphasis on the product you offer.

Increasing Amazon Sales Rank – summary

If you’re looking to increase your Amazon Sales Rank, try the tactics we mentioned above – not only related to the platform but also to the product you’re offering itself. Still, keep in mind that this is not a process to bring the expected results right away. Due to the dynamic competition and the flurry of offers found on the platform, you need to stay patient.

It is also important to constantly analyze the results, and consequently, take care of optimization through constant testing of various solutions, as there is no single way to bring about an increase in the discussed indicator. Nonetheless, we assure you that in the end you will implement a strategy that will bring you the desired results.

Read also: What is Amazon FBA

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Content strategy – table of contents:

1. Most purchasing decisions are an afterthought
2. How to match the content strategy to the different stages?
3. Awareness stage
4. Consideration stage
5. Purchase stage

Most purchasing decisions are an afterthought

It is relatively rare that a customer makes a spontaneous purchase decision. Understanding the entire process of the customer journey and the factors that ultimately influence the finalization of the transaction are key elements that will help you create the right content strategy to meet the consumer’s needs. First, you need to know that the buyer’s journey consists of three stages.

The first is a state of awareness. This is the moment when the customer is aware of the problem but does not yet have knowledge of how to solve it. Next, on the other hand, the customer thinks about the options and considers the various solutions. The final stage is the decision stage, in which he chooses from among the available options the one that best suits his needs.

How to match the content strategy to the different stages?

First, you must realize that each stage of the customer journey requires a different type of content strategy. If you want them to make it through to a purchase decision, you need to tailor your content strategy to each stage of their activity. Let’s start at the beginning.

Awareness stage

The key is to make it interesting and not scare the consumer. Packing a lot of promotional content on the front page is no go. Instead, aim at informing and educating. Focus on imparting knowledge on a given topic, without necessarily referring specifically to the solutions you offer. Do you think such texts do not sell? That’s not their role. What you should care about at this point is raising awareness of your brand and getting the consumer to notice you.

However, this does not mean that such texts do not contribute anything. They make customers feel understood and taken care of. When creating this type of content, try to shift your thinking to look at it from a customer’s angle. At this stage, it is their needs that should matter the most to you. If you can achieve this, then you will have a chance to move to the next step.

This is the moment when the buyers need lightweight, general content strategy that allows them to learn about the topic. Informative blog posts or social media posts are ideal for this role. This type of content is not only user-friendly but also search-engine-friendly. If you add to your knowledge base regularly and formulate your questions properly then your ranking can increase. This is a great way to increase your site’s reach organically.

Consideration stage

The customers in the second stage are aware of their problem and know the options for solving it. Their main focus now is finding the best way to do it. This is a good time to convey factual arguments as to why it is with you that they will find what they are searching for and how your solution is better than those offered by your competitors. However, the point is not to praise your product, but to highlight its real advantages. The content strategy you create should therefore become more targeted and personalized. You will succeed in achieving such an effect, as long as you properly define the customer persona beforehand.

At this stage, focus on the benefits and values of the solution offered. Nothing sells better than examples. That’s why a great way to make a presentation is a case study. People love stories, so it’s worth taking advantage of that.

Purchase stage

Do you think that if you have brought the customer to the final stage, everything will go your way? This approach is a big mistake. Remember that both at the very beginning and the stage of purchase, the customer may abandon the finalization of the transaction. Now your greatest challenge concerns facing competition offering the same solution as you.

The customers are already aware and know exactly what they are looking for. However, they haven’t made a final decision on a supplier yet by checking and comparing the possibilities that different companies offer. In your favor is the relationship you managed to build during the previous stages, but you can’t rest on your laurels. This is the moment when you should allay any doubts and answer all questions the clients may have.

At this stage, a certain bond has already formed between you and the customer. He or she knows your company and is willing to take advantage of the solution you offer him. Therefore, the best incentive to purchase will be to provide a personalized offer or make available a special discount code. It is also a good idea to offer a free consultation, during which you will answer any questions the customer may have.

Understanding the customer’s needs at each stage of the journey is fundamental for creating valuable messages. Only in this way will you be able to plan a content strategy that is practical and sales-boosting. After all, every piece of content strategy has exactly that purpose: to sell. Directly or indirectly. The clue of content marketing is to devise it in such a way that it fits into the mindset of customers and provides value to them.

Read also: Balanced scorecard and its application in e-commerce

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