A 2020 study from 99firms found that there are more than 2 billion digital buyers in the world today, with projected sales at over $4 trillion. The trend shows no signs of slowing: The same report projects that 95 percent of all purchases will be transacted through e-commerce distribution channels by 2040. Third-party logistics (3PL) lets businesses …
The COVID-19 pandemic has disrupted the worldwide economy previously unseen in living memory, and its GDP impact on the economy is yet to be fully realized. While we don’t yet know when the pandemic will be fully behind us, it’s clear that the normal of tomorrow won’t be quite like the one we left behind. However, there …
With many large brick-and-mortar stores closed for extended periods in 2020, digital shopping channels seized the opportunity to establish an even more outstanding market share. Post-pandemic, omnichannel retail is a new reality, giving empowered customers the personalized experience and convenience they demand. E-commerce stands to benefit, but it will require a significant change in logistics, …
What will be necessary for e-commerce companies in 2021? We’ve put together a list of three key opportunities that need to be considered for such companies to thrive. As an e-commerce company, you cannot do it alone. You may have hired consultants to help you with product sourcing or marketing, but logistics remains a crucial …
E-commerce distribution and fulfillment strategy isn’t a “one and done” exercise. The market can change unpredictably from one year to the next, and you’ll need to change with it. There are several ways to thrive with this variability, of course. A universal method is to orient your business around a handful of core “best practices,” …
E-commerce businesses should be on the lookout for trends when developing their strategies. Some of these trends may not necessarily be new—perhaps, only intensifying year after year. Others may be surprised. Companies of all sizes can benefit by thinking about these trends and how they might affect a business, regardless of size. It’s also important …
You may have found a great product that you want to sell and a ready, willing target market of buyers for it. There’s just one issue: you’re not quite sure how to ship it. With all the other issues you need to handle while running your business, you shouldn’t have to worry about shipping products requiring special …
An important metric in the e-commerce space is calculating cost per order (also known as CPO). The CPO is not simply the labor involved in the shipment of the product. Still, it is a sum of items, including the costs associated with accepting the shipment of the product at your facility (receiving, storage, and inventory …
Maybe you’re a small business. It all starts with an online business idea — you have a product, do some marketing, the wheels of commerce start turning, and now you find there are people out there buying what you are selling. Now you’re at a tipping point: the orders are coming in fast and furious, …
With the arrival of the COVID-19 pandemic, 2020 quickly became the Year of Disruption for the business community. Arguably the very first lesson we collectively learned was that a lean supply chain — the gold standard of operational excellence for a generation — was a liability in times of crisis. Leanness was out, and resilience …