- Use one system for multiple channels.
For the new ecommerce site, major brick-and-mortar stores can utilize their existing logistics networks. To prevent overselling or underselling, inventory must be kept in sync. For both online and offline components of the store, use-of a single integrated point-of-sale system (POS) is the best solution. To streamline and simplify accounting processes, brands need an automated and real-time system to sync inventory across all channels.
More new customers you can access if you expand your reach, online sphere has many channel opportunities to pursue.
Few channels to be considered:
i) Social media
An easy way for customers to shop your products. Social media tells your brand story and connects with potential customers. Social Media platforms are Facebook, Instagram, Snapchat, Twitter, LinkedIn, Pinterest – the list goes on. Depending on your target audience, identify the right channel for your business. Make sure to mark your presence where your customers are.
ii) Online marketplaces
Many online retailers also expand their presence to online marketplaces rather than creating their ecommerce store. But what are online marketplaces? To provide many different products from many different sellers, eCommerce sites offer platforms for the sellers to sell their products online. These types of eCommerce sites are generally known as the marketplace.
The few most popular marketplaces are:
- Alibaba.com and
- Google Express
Choose one who is making more sense for your brand. It’s worth exploring your opportunities with inventory management software as your business may scale across multiple marketplaces. And to remove the risk of overselling and underselling, this system will automatically synchronize your stock levels.
iii) Comparison shopping engines
When looking to purchase a specific product, customers often do their research. So being informed about major comparison websites is vital as you can also list your products there and highlight the features like quality, price and shipping rate compared to other online retailers.
- Provide fulfillment options
You can provide customers with fulfillment options like buying online but pick up their merchandise from your physical stores. To increase foot traffic to your physical stores, BOPIS is a great option as it also provides convenience to both the customer and retailers.