New research identifies and solves the major problems limiting the effective use of omnichannel selling
We’ve joined forces with Retail Systems Research (RSR), the only research company run by retailers for retailers, to unveil new research that identifies and solves the major problems limiting independent retailers’ effective use of omnichannel selling. The report, “Three Hidden Costs of Omnichannel that Impact the Independent Retailer,” is available for free download. We’re also looking forward to hosting a free webinar with the author of the report and RSR managing partner Nikki Baird on Thursday, March 2, at 11:00 a.m. PT. Register now.
Baird told us, “One of the biggest obstacles of being a small, independent retailer is that you have all of the challenges of big retailers, but none of the resources they have to tackle these challenges. Omnichannel—the act of serving customers holistically across multiple touch points—is no different. New #retail #research identifies and solves the hidden costs of #omnichannel selling Click To TweetConsumers don’t care if the retailer is big or small. They just want to shop how, when, and where they want, in an interaction with a retailer or brand that is seamless and consistent. In this new research, we identify the top hindrances for independent retailers and offer practical solutions that will empower them to make the most of the omnichannel selling environment.”
This new report tackles key issues facing independent retailers including:
Inaccurate product availability: Small retailers struggle to “see” their inventory. Indeed, RSR found that only 8% of respondents with $250M or less of revenue can see inventory levels across their business, and can promise with confidence that they can sell an item to consumers across multiple selling channels.
Our customers show us record transaction volume and revenue growth
Today we announced a record quarter for customer revenue and activity. And as I predicted, leading the adoption trend are members of the emerging niche economy—small, independent retailers who are building entire industries around specific offerings ranging from coffee roasting to horse grooming.
The days of online retailers trying to be everything to everyone are over. Small retailers are recognizing that you don’t have to be like Amazon to compete with Amazon. All you need to do is tap into the incredibly targeted market needs and software solutions that now exists to build the business of your dreams, finding not just revenue but personal satisfaction along the way. Unify helps companies focus on their business rather than their data management. We’re glad to see more and more companies finding success by embracing our solution in record amounts.Continue reading →
Best-in-class systems working together to build a better business for you
As you know, online retail is much like the brick-and-mortar experience, albeit in a virtual world. The shelves need to be stocked. The inventory needs to be updated across all online stores and marketplaces. Of course, the online buyer doesn’t carry out the product, so shipping and order fulfillment are added into the mix. And to up the ante a bit, the buyer’s experience better be positive, because the instant gratification of sharing an online review—good or bad—is just a click away.Now #sellers can build #ecommerce businesses that last and grow. #Unify #ecosystem Click To Tweet
While online retail is often thought of as the land of opportunity, the speed at which e-commerce has developed has flooded the industry with tools meant to solve for every challenge. Nowadays, every necessary function of selling comes with its own SaaS application, desktop software, or platform—point of sale, shopping carts, and marketplaces; bookkeeping and accounting; email marketing and customer relationship management; payment processing; shipping and fulfillment; and inventory and warehouse management to name just a few. Without each of these vital tools, a business doesn’t exist, but running back and forth between these disconnected applications can exhaust and frustrate even the most enthusiastic seller.
The resulting side effect of this well-intended overcorrection is commonly known as app fatigue. In its mildest form, this unfortunate state of SMB chaos simply dampens the joy of selling online, and at its most severe and tragic, app fatigue causes dreaded e-commerce burnout. Sound familiar?Continue reading →
Identifying and capitalizing on Goliath’s weak spots
It’s a classic David versus Goliath story. In 2015 alone Amazon raked in net sales of $107 billion and swallowed up 72% of online users in the U.S., making it both the Goliath we love to hate and the price leader we love to shop. But online retailers often wonder, Am I fighting a losing battle trying to compete with the monster of all monsters? Isn’t Amazon going to eat me alive anyway? I say it’s all in the approach. For those with the smarts, creativity, and fortitude, there are a few ways to save your e-tail village from Goliath and run a thriving e-commerce business. In any battle, it’s best to start with an understanding of your opponent’s strengths and weaknesses. Let’s start with the strengths.Smart strategies for #ecommerce #SMBs to battle @Amazon and live to see the profits. #Unify Click To Tweet
Amazon’s strengths Captain Obvious would tell us that one of Amazon’s strengths is its massive catalogue of products. Like any business that wants to launch into a new category in a business, Amazon does their market research—and they’ve got some of the brightest people on the planet working for them. These folks are able to identify new and existing markets that have room for opportunity on price optimization. Five years ago, they weren’t selling a ton of custom apparel items and then they started to encroach in that market. Ten years ago they were not selling a lot of golf equipment, but then they figured out how to optimize their catalogue. Take batteries, for example. Amazon recognized that the category of batteries had been dominated by Duracell and Eveready for a very long time. By sheer volume, they figured out the unit economics and profit margins of selling so that they could manufacture, or white label, their own basic office products. With this data, they launched a whole brand called AmazonBasics and now you can buy Amazon-branded batteries, USB cables, and HDMI cables. For Amazon, it’s all about their massive catalogue and tackling massive markets. Continue reading →
If you’re an online retailer with complex inventory needs, we’re confident that this partnership has the power to give you peace of mind and the confidence you need to take risks and strategically build your business. Unify for SkuVault allows you to schedule and post online order data from any sales channel or SkuVault directly into accounting. To prevent overselling, you can easily track and sync quantity and price of items in SkuVault with accounting, while all sales and inventory changes can be instantly synced. And by adding in a connection to marketplaces like Amazon or eBay, you can close the loop on your finances by recording fees and expenses in your accounting. The result is easy, complete reconciliation that makes everyone happy, including the nice folks in the warehouse and your favorite accountant.
Leveraging our years of experience in e-commerce, retail, finance, and accounting, we’ve developed Unify for SkuVault to meet the complex inventory management needs of multi-channel sellers like you. We are pleased to partner with SkuVault, an industry leader in the category or warehouse and inventory management, so that you can stop all the data entry that’s involved with bookkeeping, and get back in control of your growing business. To learn more and start a free trial of Unify for SkuVault, please visit skuvault.webgility.com.