A century after revolutionizing the way customers purchased products, by introducing the Sears catalog, the company entered the e-commerce space. Today Sears is ranked as the 22nd fastest-growing online furniture & appliance marketplaces. The Sears Marketplace is an excellent opportunity for sellers to diversify their selling channels and access millions of Sears and Kmart customers.
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EDI is used by all major retailers (Amazon, Target, Costco, Kroger, Home Depot, Lowe’s) to maintain a direct supplier relationship with sellers. If you are in B2B, it is very likely your organization will at one point need to work with EDI or a partner who can assist you with this technology.
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Last month Bloomberg reported that social shopping accounted for 3% of online sales in the United States in 2018, amounting to under $17 billion. In China, 8.5% of online sales were made through social shopping in 2017, and by 2022 that figure is projected to exceed 15 percent, which would represent about $413 billion in sales.
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There are many agencies, online courses and YouTube channels from people claiming to be e-commerce advertising experts that will teach you to get your products in front of your audience.
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For some retailers, it’s already here. With controversy surrounding doorbuster deals in recent years, starting sales and promotions early creates an opportunity for buyers who are uncomfortable with the hype to get a piece of the savings.
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For e-commerce, one of the biggest challenges is increasing your sales in an already saturated marketplace. The most obvious strategy to increase sales is to sell on many different marketplaces and cast a broad net hoping to bring in more customers. Another strategy that some do not consider is casting the net even wider and selling in an entirely different country. One of the best ways to test those waters for U.S sellers is to consider the smaller but rapidly expanding Canadian e-commerce marketplace.
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Perhaps your business started on Amazon, one of the largest e-commerce markets on the planet. As of last year, 55% of surveyed Americans used Amazon first when they wanted to search for a product online. And over the last 2 years, Amazon Prime doubled in size, currently serving approximately 80 million U.S. members, up 38% over the previous 12 months. With the average Prime member ordering $1,300 in products each year, and the average non-member customer spending $700, business is absolutely booming.
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So you have decided you want to expand your business. Maybe you have a small brick and mortar store and you want to expand your footprint and attempt to tap into a larger market. Maybe you don’t even have a brick and mortar store and raising capital to open one is your biggest barrier to even getting your product up and selling.
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