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The Art of Ecommerce Management: Tips and Tricks to Drive Online Success
Original Content: eCommerce Customer Lifetime Value
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The Essential Guide to eCommerce Management
If you’re running an eCommerce business, effective eCommerce management is essential to success.
Whether you’re just starting out or you’re an established enterprise, managing your eCommerce sales and operations can be complex and challenging.
In this guide, we’ll explore the key components of eCommerce management and provide practical advice for building a solid foundation for your brand.
What is eCommerce Management?
At its core, eCommerce management involves overseeing the commercial transactions that take place over the internet.
This can include everything from managing eCommerce product listings and inventory levels to handling payments, shipping, and returns.
It also involves optimizing the customer experience to maximize sales and build customer loyalty.
One of the key aspects is ensuring that your website is user-friendly and easy to navigate.
This means having a clean and organized layout, clear product descriptions and images, and a simple checkout process.
By providing a seamless shopping experience, you can increase customer satisfaction and encourage repeat business.
THE IMPORTANCE OF EFFECTIVE ECOMMERCE MANAGEMENT
Effective eComm management is essential to the success of your online business.
By managing your operations efficiently, you can increase revenue, reduce costs, and improve customer satisfaction.
By streamlining your processes, you can also free up time to focus on developing new products and expanding your business.
One of the biggest benefits of effective management is the ability to track and analyze customer data.
By monitoring customer behavior and preferences, you can tailor your marketing strategies and product offerings to better meet their needs.
This can help you build stronger relationships with your customers and increase their lifetime value.
KEY COMPONENTS OF ECOMMERCE MANAGEMENT
Effective eCommerce management involves a wide range of tasks and responsibilities.
Some of the key components include:
Product management and inventory control: To ensure that you always have the right products in stock, it’s important to have a system in place for managing your inventory levels. This can include using software to track sales and stock levels, as well as forecasting demand and ordering new products as needed.
Website design and user experience: Your website is the face of your business, so it’s important to make sure that it looks professional and is easy to use. This can include everything from choosing the right color scheme and font to optimizing your site for mobile devices.
Payment processing and fraud prevention: To ensure that your customers’ payment information is secure, it’s important to use a reputable payment processor and implement fraud prevention measures. This can include using encryption technology and two-factor authentication.
Order fulfillment and shipping logistics: Once an order is placed, it’s important to have a system in place for fulfilling the order and shipping it to the customer. This can include using a third-party logistics provider or setting up your own warehouse and shipping operation.
Customer service and support: Providing excellent customer service is key to building customer loyalty and increasing sales. This can include offering multiple channels for customer support, such as email, phone, and live chat, as well as resolving customer issues in a timely and professional manner.
By effectively managing these components, you can create a seamless and efficient eCommerce operation that maximizes sales and builds customer loyalty.
Building a Solid Ecommerce Foundation
Starting an eComm brand can be an exciting and lucrative venture.
However, building a solid foundation is crucial to ensure long-term success.
In this article, we’ll explore some essential steps to take when establishing your business.
CHOOSING THE RIGHT ECOMMERCE INDUSTRY PLATFORMS
Choosing the right eCommerce platform is critical to the success of your online business.
There are many options available, each with its own set of features and benefits.
All-in-one solutions like Shopify and WooCommerce are popular choices for their ease of use and affordability.
More specialized platforms like Magento and BigCommerce offer advanced customization options for businesses with more complex needs.
When choosing an eCommerce platform, it’s essential to consider your business needs, budget, and technical expertise.
Some platforms require more technical knowledge than others, so it’s important to choose one that aligns with your skillset.
You should also consider the scalability of your chosen platform to ensure that it can accommodate your business’s growth in the future.
CREATING A USER-FRIENDLY ECOMMERCE WEBSITE DESIGN
Your website is the face of your brand, and it’s essential to design a user-friendly and visually appealing site.
A well-designed website can help build trust with your customers and encourage them to make a purchase.
When designing your website, it’s important to consider the user experience.
Clear navigation and detailed product descriptions are essential to help customers find what they’re looking for quickly.
High-quality images can also make a significant difference in the perceived value of your products.
In addition to a visually appealing design, it’s also critical to optimize your website for mobile devices.
With more and more customers shopping on-the-go, a mobile-friendly website can help you reach a broader audience and increase sales.
SETTING UP SECURE ECOMMERCE PAYMENT GATEWAYS
Payment processing is a critical component of eComm management, and it’s essential to ensure that your customers’ financial data is secure.
When choosing a payment gateway, it’s important to look for providers that offer robust fraud prevention measures and data encryption.
Offering multiple payment options can also help accommodate different customer preferences.
Popular payment gateways include PayPal, Stripe, and Authorize.net.
It’s essential to research each option carefully to determine which one is the best fit for your business.
By following these essential steps, you can build a solid foundation for your eCommerce business and set yourself up for long-term success.
Ecommerce Product Management and Inventory Control
As a business owner, managing your product inventory is crucial to your success.
Effective product management and inventory control can help you increase sales, improve customer satisfaction, and reduce costs.
We’ll discuss some key strategies for creating compelling product listings, managing inventory and stock levels, and implementing effective pricing strategies.
CREATING COMPELLING ECOMMERCE PRODUCT LISTINGS
When it comes to eCommerce, your product listings are your virtual storefront.
They are the first thing that potential customers see when they visit your website, so it’s important to make a good impression.
A well-crafted product listing can help you stand out from the competition and drive sales.
When creating product descriptions, it’s important to focus on benefits rather than features.
Instead of just listing the specifications of your product, highlight how it can improve your customer’s life.
For example, if you’re selling a blender, don’t just list its motor power and blade size.
Instead, highlight how it can help your customer make healthy smoothies in seconds.
In addition to great copy, it’s important to include high-quality images and videos to showcase your products.
Customers want to see what they’re buying, so make sure your product images are clear, well-lit, and show your product from multiple angles.
Finally, you should optimize your listings for search engines to ensure that customers can easily find your products.
Use relevant keywords in your product titles and descriptions, and make sure your website is structured in a way that makes it easy for search engines to crawl.
MANAGING INVENTORY AND STOCK LEVELS
Effective inventory management is essential to ensure that you have enough stock to meet customer demand without overspending on storage and logistics.
When managing inventory, consider using tools like barcoding and automated tracking systems to streamline the process.
These tools can help you keep track of your inventory levels in real-time, so you always know when it’s time to reorder.
You should also conduct regular audits to identify slow-moving or obsolete products.
These products can take up valuable warehouse space and tie up your cash flow.
By identifying them early, you can take action to move them out of your inventory and free up space for more profitable products.
IMPLEMENTING EFFECTIVE ECOMMERCE PRICING STRATEGIES
Pricing is critical, and it’s essential to find the right balance between profitability and affordability.
When setting prices, consider factors like production costs, competition, and market trends.
You should also use data analytics to track sales trends and adjust pricing strategies accordingly.
One effective pricing strategy is dynamic pricing, which involves adjusting your prices in real-time based on factors like demand, competition, and inventory levels.
This can help you maximize your profits and stay competitive in a crowded market.
In conclusion, effective product management and inventory control are essential to the success of your eCommerce business.
By creating compelling product listings, managing your inventory levels, and implementing effective pricing strategies, you can increase sales, improve customer satisfaction, and reduce costs.
Streamlining Order Fulfillment and Shipping
The nature of business is solving problems, especially when it comes to order fulfillment and shipping.
However, by streamlining these processes, you can improve customer satisfaction, increase sales, and reduce costs.
Here are some tips to help you streamline your order fulfillment and shipping processes:
CHOOSING THE RIGHT ECOMMERCE SHIPPING PROVIDERS
Choosing the right shipping providers can have a significant impact on your eCommerce operations.
When selecting providers, consider factors like cost, speed, and reliability.
It’s essential to choose a provider that can deliver your products quickly and efficiently while keeping costs low.
You should also leverage technologies like track-and-trace systems to provide customers with real-time updates on their order status.
Another critical factor to consider when choosing a shipping provider is their coverage area.
You should select a provider that can deliver to all the locations where your customers are located.
This will help you avoid delays and ensure that your customers receive their orders on time.
AUTOMATING ORDER PROCESSING AND FULFILLMENT
Automating order processing and fulfillment can help you save time and reduce errors.
This can involve using tools like inventory management systems, shipping and tracking software, and order management platforms.
By automating these tasks, you can free up time to focus on growing your business and improving the customer experience.
One of the most significant benefits of automation is that it can help you reduce errors in order processing and fulfillment.
When you rely on manual processes, there is a higher risk of errors, which can lead to delays and customer dissatisfaction.
By automating these tasks, you can minimize the risk of errors and ensure that your customers receive their orders accurately and on time.
MANAGING RETURNS AND REFUNDS
Managing returns and refunds is an essential aspect of eCommerce management, and it’s essential to have a clear and transparent policy in place.
When developing a policy, consider factors like timeframes, conditions, and fees.
You should also provide clear instructions for customers on how to initiate the process and track their return status.
One way to streamline the returns and refunds process is to automate it.
You can use tools like return management software to automate the process, which can help you save time and reduce errors.
By automating the process, you can also provide customers with a better experience, as they can initiate the process online and track their return status in real-time.
In conclusion, streamlining your order fulfillment and shipping processes is essential for the success of your eCommerce business.
By choosing the right shipping providers, automating order processing and fulfillment, and managing returns and refunds efficiently, you can improve customer satisfaction, increase sales, and reduce costs.
Conclusion
Effective eCommerce management is essential to the success of your online business.
By building a solid eCommerce foundation and leveraging the right tools and technologies, you can streamline your operations, increase revenue, and improve customer satisfaction.
By following the steps outlined in this guide, you can take your eCommerce management to the next level and achieve long-term success in the ever-changing world of online commerce.
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This article was first published on my blog spraguemedia.com/blog.
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How A Superbowl Ad Sent Death Wish Coffee Into Bootstrapped Growth Mode, With Will Critcher.
Sep 16, 2021
Ecommerce Straight Talk Episode 16
This week we're chatting with Will Critcher, the Director of Ecommerce at Death Wish Coffee. Death Wish Coffee makes the worlds strongest coffee, with twice the amount of caffeine as a regular 'cup of joe'.
Join us in talking about all things Ecomm, including:
Winning a free Superbowl commercial.
How to manage with insane growth.
Dealing with Amazon inventory issues.
Leveraging and scaling retail.
Prioritizing people, product, and processes.
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How to Scale a Product From Launch to Retail With Swaggr
Sep 9, 2021
Ecommerce Straight Talk Episode 15
This week we're chatting with David Katz, the CEO of Swaggr. Swaggr has created products around sustainability and recyclable plastics. Launching a brand from farmer's markets to scaling in retail, how Swaggr built a loyal brand community.
Join us in talking about all things Ecomm, including:
Launching products on Indiegogo.
Using farmer's markets to build a community.
How to get your product into retail stores.
Leveraging and scaling retail.
Why paid channels are so important for DTC.
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Margins, Multipliers, and Manufacturers, How To Sell Your Ecommerce Store with Jeet Banerjee
Aug 12, 2021
Ecommerce Straight Talk Episode 14
From entering the Ecommerce space to exiting, how you can build an efficient Ecommerce store with Jeet Banerjee. Jeet is an Entrepreneur who has started, scaled, and sold over 7 Ecommerce brands.
Join us in talking about all things Ecomm, including:
How to find and vet manufacturers.
Best time to exit the market.
How to sell your Ecommerce store for the most profit.
What margins you should be aiming for.
When to maximize your own industry knowledge.
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How to Increase Ecommerce Growth with Digital Advertising with Summit Golf Brands
Aug 5, 2021
Ecommerce Straight Talk Episode 13
This week we're chatting with Jonah Redel-Traub. Jonah is the Director of Ecommerce for Summit Golf Brands.
Listen in on our discussion about all things ecommerce, including:
Using Digital Advertising to increase traffic and conversions.
How Golf performed during the pandemic.
What outdoor Ecomm brands can do to increase growth.
The effects of iOS-14 on the outdoor industry.
Best traffic channels to take advantage of in 2021.
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How to Get Your Ecommerce Brand Into Northern Europe & Asia (A-PAC) with Panagora
Jul 29, 2021
Ecommerce Straight Talk Episode 12
This week we're talking with Moon-Suck Song from Panagora. He's the CEO & Co-Founder of a digital agency in Northern Europe that helps Ecommerce brands break into Northern Europe and Asia (A-PAC).
Join us in talking about all things Ecommerce, including:
How to get a foothold into Asia (A-PAC)
How to decide on whether to move into Northern Europe
Kinds of brands that are successful in Sweden, Finland, Norway, and Denmark
Top traffic movers in Korea and Asia
Global Trends post-pandemic
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How to Grow Your Ecommerce Business in 2021 with Turtle Fur
Jul 22, 2021
Ecommerce Straight Talk Episode 11
This week we're chatting with Colin Giblin. Colin is the Director of Ecommerce at Turtle Fur… A brand focused on making being happy outside easier since 1982 with quality headwear & accessories for all seasons and all lifestyles.
Join us in discussing all things eCommerce, including:
Effects of massive mask over-inventory
How to be persistent through Q3 and Q4
Dealing with the changing purchase behaviors of consumers
Growing a brand in 2021
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Conversational Ecommerce & Back-To-School
Jul 15, 2021
Ecommerce Straight Talk Episode 10
This week on Ecommerce Straight Talk we're discussing:
Weber and Traeger go public
TikTok IPO on ice
Amazon and Google under investigation
Klarna buys eComm tech startup Hero
Back-to-School sales to hit record spending
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Last-Mile Delivery Bandwagon
May 13, 2021
Ecommerce Straight Talk: Episode 5
This week we're discussing:
1. With Vacation rentals at 85% capacity through August and flight bookings up 111% YoY, do you think retailers are going to see increased purchase activity throughout the summer?
2. Peloton recently had some issues with their new product, the treadmill. Will people and children getting hurt and killed they've recalled all their treadmills. The projected impact of this recall is estimated to be around $165 million.
As this hurts their reputation and wallet, will Peloton be able to overcome this disaster?
3. The cost of not going digital was the tax legacy brands were paying. But the playing field has been altered. As of last week, less than 5% of the users of the latest iOS version (14.5) in the US have permitted Facebook to monitor their device activity.
What effect do you think this will have on the smaller DTC brands vs the older legacy brands?
4. According to Forbes, "Livestream shopping is having a renaissance, and QVC is still top dog. Qurate, QVC’s parent company, had its best quarter since its creation in 2018. Retailers including Bloomingdale’s, Nordstrom, and even Petco are attempting to make their mark in livestream shopping."...
Does livestream shopping have a future in the US post-pandemic?
5. Walgreens started rolling out their same day delivery services. Introducing the ability to pick-and-pack through their app to allow for third-party delivery services to handle the last mile of delivery.
On the heels of what we've been discussing over the past 2-episodes, what are the odds more retailers and even smaller brands, hop on this bandwagon?
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How to Use Ecommerce Ad Automation with Revealbot
Jul 8, 2021
This week on Ecommerce Straight Talk we're chatting with Adan De La Cruz. Adan is the Success Manager at Revealbot.
Join us in discussing all things eCommerce, including:
Automation in Advertising Technology
iOS-14 interruptions
What’s working and what isn’t with Facebook Advertising 2021
Scaling and Growing a brand in this "New Normal"
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Starting and Scaling a Subscription Box Company with Backcountry Fuel Box
Jul 1, 2021
This week on Ecommerce Straight Talk we're chatting with Cody Rich. He's the Founder of Backcountry Fuel Box and the Creator of The Rich Outdoors Podcast.
Join us in discussing all things eCommerce, including:
Subscription Box Companies
Branding in 2021
Contending with the latest iOS issues
Scaling and Growing a brand in this "New Normal"
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Virtual Events, Gaming, and Omnichannel - The "New Normal"
Jun 3, 2021
Ecommerce Straight Talk: Episode 7
This week we're discussing:
1. LinkedIn is doubling down on pushing events to advertisers, for more ad $... 21 million LinkedIn members attended virtual events on the platform last year. While its livestreams increased more than 400% from September 2019–September 2020. The latest updates come roughly a month after LinkedIn said its ad revenue was up 60% YoY, surpassing $3 billion. Will virtual events continue the traction they've held during the pandemic?
2. Roblox is an online gaming platform where users can immerse themselves in any of the 18 million virtual worlds. And in Roblox’s many worlds, players can buy an array of items from an Avatar Shop using the game’s currency – a Robux. Gucci decided to mark its 100-year anniversary by creating the "Gucci Garden". A game made up of various themed rooms. As visitors wandered the rooms, they could purchase exclusive virtual Gucci items for their avatars to wear. One item proved particularly popular – the limited-edition virtual Dionysus Bag with Bee, which Gucci was selling to gamers for an original price of 475 Robux (equivalent to $6). But, just as in the real word, users can re-sell the digital wears if the demand is high. And this bag was, leading one user to sell it on for over $4,100 – $800 more than the real thing...
Should we expect to see more brands getting into gaming?
3. Retail stores are increasing staffing to focus on BOPIS. We've discussed this in past episodes, but we're now starting to see retail brands focus on omnichannel and what it really mans for their business. With Micheals, Ulta, Build-A-Bear, Madewell, Kendra Scott, and Foot Locker going all in on omnichannel, we're seeing big box stores take advantage of the new "normal"...
So, how can your "Regular-Joe", Ecommerce store owner, take advantage of Omnichannel?
4. Ecommerce grew as much in the first 8-weeks of the pandemic as it did in the previous 8-years. With brands making huge investments into Ecommerce over the past year, more and more brands feel they need to hop on the Ecomm bandwagon. And although more folks are getting out and wanting to spend more of their $$ back into their local stores, we see 38% of consumers intend to do more shopping online and visit stores that provide great experiences.
Instead of asking, "How does Ecommerce fit into a Post-Pandemic world?", we should be asking, "What consumer experience do I need to offer?"
5. Instagram released a feature update that’s more relevant for retailers: Drops, a dedicated section where brands can release new products via Instagram Shopping. A few years into its mobile mall renovations, Instagram is still used for window shopping more than shopping shopping. Brands that’ve tried Instagram Checkout said the app has yet to generate meaningful purchasing activity, and their websites offer more relevant product information than the app supports. By introducing Drops, Instagram isn’t just directing shoppers to new releases. It’s also helping retailers make purchase journeys more obvious on the app.
Do you foresee this to make an impact on brand sales through Instagram?
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Shoppable Inventory Takeover
May 27, 2021
Ecommerce Straight Talk: Episode 6
This week we're discussing:
1. Last year COVID pushed Prime day from July to October. And with a 17% increase in revenue from 2019, pulled in ~$10 BILLION in estimated revenue.
Looking at the trends this year and purchasing patterns, are we going to see familiar numbers this year?
2. According to the Morning Brew, Retailers’ Q1 earnings showed us people are back spending $$, with Retail sales up 37% YoY. Walmart, Target, The Home Depot, and Macy’s all reported strong numbers, thanks to continued growth in e-commerce and consumers making larger purchases. BUT, it wasn’t just the big players, either: Shoe Carnival posted its strongest quarter ever thanks to its loyalty program and in-store growth.
Despite these impressive figures, analysts expect a leveling off at some point. When do you think retail sales will cool down?
3. CNN Business says, Under Armour will raise its minimum wage to $15.
With the bulk of service industry workers still collecting unemployment, are we going to continue to see a trend of brands increasing minimum wage?
4. Since the advent of Ecommerce, dealing with returns has always been an issue and needed to be added into the margins. This has become an even bigger burden as we see returns averaging around 30% more than the value of the sale...
Is it easier just to tell customers to keep the product and send a refund?
5. We spoke about this a few weeks ago and its rearing its head again. Shoppable inventory is starting to make rounds on TV Networks and Streaming services. Amazon has been beta testing this idea, but now Netflix, Hulu, and some TV networks want to get on board as well. Allowing people to CLICK and buy while watching. Imagine watching an NBA pre-game and seeing your favorite player showing off some new clothes as he walks to the locker room. With shoppable inventory you will now be able to click or scan a QR code in order to purchase what the player is wearing...
Would you ever buy something this way?
Join us every week for a new episode of Ecommerce Straight Talk, where we discuss Ecommerce trends, behaviors, news, and latest topics.
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Apple Faces Antitrust Case + 5 Top Trending Ecommerce Topics
May 6, 2021
Ecommerce Straight Talk Podcast: Episode 4
This week we're discussing:
1. "Apple hit with German Antitrust complaint as it prepares to roll out new iPhone software.", reported by Sam Shead of CNBC. With the new iOS-14 update, it seems like a lot of companies have sharpened their claws to combat Apple...
Do you think this is just the beginning of the antitrust avalanche Apple will run into?
2. The Retail Brew says, "Click and collect sales, including curbside pickup, made up around 9% of total US e-comm sales last year. An Ipsos survey found 78% of shoppers had used curbside pickup, or BOPIS, since the pandemic started. 69% planned to use it at the same level, or higher, post-pandemic"...
Spinning off of what we discussed last week, are we going to be seeing a major shift in how brands think of omni-channel?
3. "Lord & Taylor was just acquired by the Saadia Group, pulling them from a bankruptcy auction for $12MM.", Bloomberg reports. Lord & Taylor isn’t the first legacy retailer to restart from bankruptcy as an online-only venture....
Should we expect to see more of these older brands, with customer loyalty, begin to reemerge from insolvency?
4. With the ever increasing prices of nostalgia online, whether through Ebay, or any other marketplace, Lids (the largest hat retailer) thinks hats will become the new sneakers, in terms of fostering an obsessive audience...
Do you think Lids is on to something here? Or just pushing hype?
5. Shopify's Q1 revenue exploded by 101% YoY, but their C-Suite imploded.
With Shopify trying to reverse the executive exodus, will we be seeing a slow down in Shopify's innovation?
Join us every week for a new episode of Ecommerce Straight Talk, where we discuss Ecommerce trends, behaviors, news, and latest topics.
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Retail Apocalypse Meets New Ad Placement
Apr 29, 2021
Ecommerce Straight Talk Podcast: Episode 3
This weeks episode we're discussing:
1. Your favorite classic movies could soon be adding product placement...
Do you think this will be an effective way of marketing?
2. With this increase in growth for Snapchat and now that their user base is more Android user than iPhone...
How can Ecommerce brands leverage this insight?
3. 15,000 influencers are launching new products lines...
How do you think this will impact future influencer marketing campaigns?
4. Discounted or resold furniture has had recent success for the simple reason that people moved a lot amid the pandemic...
Do you feel we'll continue to see consistent sales in the resale industry?
5. In addition to the pandemic, population dispersion has had a large effect on retail stores - included mostly in this are Malls...
Do you think retail will make a come back as we start getting back to "Normal"?
Join us every week for a new episode of Ecommerce Straight Talk, where we discuss Ecommerce trends, behaviors, news, and latest topics.
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Apple Launches iOS-14's ATT (AppTracking Transparency) Update
Apr 26, 2021
Ecommerce Straight Talk: Season 1 - Episode 2
This weeks episode we discuss:
1. Apple's Spring Event took place yesterday. What we were really watching out for was iOS 14.5's AppTracking Transparency, what does this mean for brands and advertisers?
2. Retail sales spike almost 10% in March, what has led to an increase in Retail sales?
3. Jeff Bezos stepped down as Amazon CEO, what does this mean for Amazon moving forward?
4. Facebook announced it's moving into audio formats (like Clubhouse). Do you think Facebook will have success with this new format?
5. Blockchain is allowing high-end brands another way of certifying original products, how do you think this will have a major effect on knock-offs and copycats?
6. Has the pandemic paved the way for higher ticket items being purchased through digital channels?
Join us every week for a new episode of Ecommerce Straight Talk, where we discuss Ecommerce trends, behaviors, news, and latest topics.
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Apr 23, 2021
In our first ever Ecommerce Straight Talk episode, we discuss:
1. How inventory delays affect marketing efforts and what to do about it.
2. How engaging with customers on social media improves customer satisfaction and brand image.
3. What to expect when moving business focus away from Amazon and into your own site.
4. How to manage advertising budgets. Join us every week for a new episode of ecommerce Straight Talk, where we discuss Eecommerce trends, behaviors, news, and latest gossip.
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