While starting a business, it is important for you to understand the difference between wholesale and retail, as it allows you to contemplate your business goals. For instance, if you plan to enter the e-commerce business, you need to consider the sales channels on which you will sell your products and how to utilize them… Continue reading Wholesale vs Retail: Meaning and Differences
With more than 900 million active Internet users, Indian users have well-adapted themselves to social media. There has been a substantial increase in social media users in India, especially after the sudden surge in smartphone usage between 2015 and 2020, where the number of users grew more than five times. Today, social media plays an… Continue reading The Rise of Social Commerce in India
The retail industry is ever-evolving and has witnessed a sea of changes, especially after the pandemic. Today, the function of the retailer has evolved and has to do things which weren’t under them. However, the basic function of the retailer has always been to be the final link of the distribution chain that directly deals… Continue reading What is a Retailer? Meaning, Role, and Types
Social media is growing like a weed. According to a report by Statista, today, more than 4.26 billion people, or more than 57% of the global population, use social media worldwide. It has become a no-brainer for brands and retailers to leverage social media to sell their products. Social commerce is when brands combine the… Continue reading What is Social Commerce and Why is it Important for Your Retail Strategy?
Delivering seamless customer experience is a science perfected only by a few. It requires keeping customers at the center of your growth strategy and fulfilling their ever-evolving demands. Today, every customer demands two things from a brand: flexibility and convenience, and BOPIS delivers on both fronts. According to a report by Mckinsey, 56% of customers… Continue reading BOPIS: The New-Age Shopping Model To Increase Sales
If you work in the retail and e-commerce industries, you may come across hundreds of metrics on a daily basis. Learning each of those metrics and knowing their significance is crucial, as they work as measuring tools and define the success of your business. Amongst the pack, one of the most important metrics to measure… Continue reading Understanding GMV and its Importance in eCommerce
Retail stores are the most preferred method of shopping for customers. They are the most revenue-generating channel for many businesses and are the prime interaction point between the brand and the customer. But stores these days have to do much more as they receive orders from different channels like websites, marketplaces, apps, social media, etc.… Continue reading Store Order Management: Streamline Your Business Operations
For businesses, inventory is the most valuable investment, bringing in the most profit. Every brand must invest very carefully in the amount of inventory it holds because businesses feel strained when they see their inventory moving slower than expected. According to a report, a business has to spend 20% to 30% additional cost if they… Continue reading What is Inventory: Best Tips for Managing it Efficiently
Do you run a retail business and wish to start selling online? Are you a manufacturer and wish to sell your products directly to your customers? Then you definitely need an excellent e-commerce store to be successful. Today, e-commerce stores have become one of the most sought-after sales channels to start selling. With relatively low… Continue reading How to Build an eCommerce Store: Seven Easy Steps to Follow
The new generation of shoppers has become channel-agnostic and is spending more than ever buying products from different platforms. According to a report by McKinsey, customers who shop across multiple channels spend four times more than those who shop on just one. Therefore, it has become crucial for brands to sell their products on multiple… Continue reading What is Order Management and Why is it Important for Your Business?