* Configure their stores. (Add logo, store description, banner image, store location, social media links) * Export order details (all of his/her products' orders / for a particular product) in CSV format. * Add/edit products. * Add coupons for their products. * Add comments in their orders and ship orders. * Get instant notifications for
* Manage vendors using bulk actions. * Approve/disapprove vendors' registration applications manually, or choose to auto-approve all vendor applications. * Allow/disallow product uploading by vendors. * Allow vendors to publish products directly, or manually approve each upload. * Can set a threshold amount before commissions are disbursed. * Can set the number of free withdrawals
Over the last decade and a half, eCommerce has grown at a phenomenal rate and is continuing to bolster its might in every major economy in the world. Although the technology and the cultural trend itself was born in the United States and Europe, the market is no longer limited to those geographies and
When it comes to the world of eCommerce, Jeff Bezos is hailed as a visionary and vanguard. From a very humble beginning as an online bookstore, Amazon has over the years transformed itself into one of the largest eCommerce businesses in the world. Currently operating in as many as 15 countries all over the world, Amazon has diversified into deeply variegated categories – from foods, electronics and apparels to toys, furniture and even cloud infrastructure services. Headquartered in Seattle, Washington, Amazon’s global growth has also been rapid. Amazon’s Chinese division has increased its listing from 1 million products in 2013 to 9 million in 2014. Currently, Amazon USA lists as many as 200 million products spread across 35 categories and the list is growing. The user base is also growing rapidly with as many as 1 million to 23 million active users registered on the top 10 Amazon domains. The amount of data you can pull on Amazon is seemingly endless so here is a neat little infographic to give you a quick rundown. Read on!
The phenomenal growth of ecommerce over the last half decade means two things, right off the bat – there is great opportunity to exploit and grow, and it’s a crowded street at the Sunday bazaar. Given the scope of ecommerce, it should come as no surprise that selling online is growing progressively more competitive. With each day, new players are entering the market, pushing prices down and giving customers a wider playing field.
In 2015, we witnessed a huge surge in online shopping and the rise of online marketplaces. This, among many other business and technology trends, made a significant impact on how business takes place both offline and online. Now, it comes as no surprise that online sales will continue to rise. While online sales accounted for 7% of all retail sales in 2011, in 2016 the figure is going to be 9% as predicted by eMarketers. Automatically, from a global perspective, year on year spending too will rise from $1,207 to $1,738. Considering this scenario, it is likely that the number of entrants to this evolving and slightly volatile marketplace will keep increasing. Hence, e commerce marketplace players will need to plan ahead. As a marketplace owner, you will have to analyze and understand the consumer data, find out why and when they buy a product or abandon a purchase within your site. And with this, you will need to keep track of the emerging trends, because today, there is no place for a poor e-shopping experience.
This is the first part of a multi part series of articles where we’ll discuss different strategies to optimize your web store or marketplace for gaining higher conversion rates. In the following chapter, we’ll discuss the very basic idea of ecommerce conversion and delve into how analytics can help you optimize your site to convert more. Operating an online store is not only about managing inventory and fulfilling orders. That’s just the tip of the iceberg. They are of course essential components of the larger machinery but without fuel, everything can come to a rather rude, screeching halt and mess up everything from your cash flow to long term operation strategies. The fuel in this analogy is of course sales – without that, there really is no point in running a ecommerce business, right? We all understand the fundamentals of selling – your customer wants something and you make it available to them through your store or marketplace. However, all things being equal, if the idea of sales was only limited to such a simplistic definition and scale, not much effort would have been necessary to stay afloat.
We already know that as much as 80% of the global population with access to the internet shops online. Those numbers are growing everyday as the internet reaches more people across the world. Needless to say, ecommerce is already a trillion dollar business and is more than likely to keep on growing with each year. Back in 2014 when it was already a $220 billion dollar industry in the United States alone, Americommerce projected that it’d hit $370 billion by just 2017.