Multiple Retail Channels For Online Sellers
The results are in and undeniable: multi-channel sales strategies are crucial for online retailers’ success. A recent study by Forbes insights found that 82% of consumers do their buying research online. And, when compared to profits for ecommerce businesses, it adds up. Retailers selling on two marketplaces make, on average, 190% more profit than those selling on one.
Whether through display advertisements on publisher sites, email marketing, sponsoring social-media posts, and setting up shop on popular ecommerce hubs, maintaining a presence where their customers live online has never been so important. And as consumers become more accustomed to online shopping, they expect a personalized, unified customer experience across channels. Living up to their customers’ ever-heightening expectations is important but, nonetheless, a major hassle.
Guiding anonymous consumers through a customized, connected, comprehensive customer journey through the vast ecommerce environment daunts even the most savvy ecommerce sellers. But before they nail down the nitty gritty details of the messaging, branding, and sequence of each audience segment’s personalized journey, companies selling online need to master the often under-emphasized art of inventory management — especially when it changes as time goes by.
Seasonality Of Product
To meet their customers’ needs at the right times, ecommerce merchants need to think in terms of seasonality. Seasonality of product refers to consumers’ habits and purchasing behaviors that reflect the activities in their lives that become more or less relevant based on the season. For example, in the US, it’s almost impossible not to notice the sudden increase of holiday-decoration, apparel, and accessories advertisements every October, November, and December. That’s because ecommerce buyers spend money on these items as Halloween, Thanksgiving, Christmas, Hanukkah, and other widely observed holidays approach.
It wouldn’t make sense for a company in the holiday accessory industry to waste resources on manufacturing, advertising, or displaying these items during the spring, summer, or early autumn months. But for those that use multiple sales channels online to promote their products during the appropriate seasons, it’s imperative to maintain an accurate tracking of inventory before and after.
For small companies, sales may be low enough that recording accurate inventory across channels manually is manageable. But as ecommerce business grow, scaling manual processes at pace becomes almost impossible — and the errors are costly. Lack of automation can lead to discrepancies in inventory levels on different channels, potentially causing overselling and subsequent customer dissatisfaction.
Ecommerce merchants who rarely interact with customers face-to-face build clientele through consistent reliability. When merchants disappoint their buyers, the win-back campaign is never easy. Before long, the customer can move on to a competitor with similar products but better customer service and inventory management.
Simply put, manually removing items from inventory across each channel isn’t scalable during holiday seasons (or other busy times) one an ecommerce company grows. The trick? Turn this challenge into an advantage by implementing ecommerce inventory software — before you think you need it.
Forecast For The Future With Webgility
To avoid growing pains, high-growth ecommerce companies need a solution that connects business tools and sales channels seamlessly. Webgility brings accounting platforms like Netsuite and QuickBooks together with sales channels like Amazon, Etsy, and BigCommerce to sync inventory accurately in real time. For businesses whose goods or services change depending on the season, manually adding and removing items one by one is time-consuming and, often times, riddled with human error.
Ecommerce merchants who avoid implementing this automated sync until discrepancies have already occurred may want growth but lack a growth mindset. Neglecting to implement safeguards for successful scalability not only does nothing to prevent inevitable growing pains, but can result in costly inventory issues like overselling. As the saying goes, “An ounce of prevention is worth a pound of cure.”
Additionally, investing in ecommerce automation software early means ecommerce sellers can reassign employees previously preoccupied with back-end operational tasks to revenue-generating roles. With dozens of regained hours in a single week, Webgility ecommerce inventory software enables ecommerce sellers and their employees to forget the menial tedium of data entry and focus on their differentiators.
More people focused on product development, positioning within the market, and effective promotions (which can be subject to change depending on the time of year and require time, attention, and planning) means ecommerce merchants who partner with Webgility optimize their resources across the board. And with actionable, real-time insights from a single Webgility dashboard, bookkeeping becomes not just convenient, but a reliable source of information to use strategically for cost cutting.
The Future Is Now
Businesses that find and integrate ecommerce inventory tracking software to their sales channels and bookkeeping applications before they grow avoid problems around inventory management, order processing times, shipping schedules, and subsequent customer dissatisfaction. Webgility offers software for ecommerce inventory tracking, accounting, and shipping automation specifically designed for high-growth businesses seeking scalable solutions.
Not only is Webgility built to scale with its customers, its built to drive the scale itself. Webgility customers not only consistently reap the expected benefits of connecting their selling channels and back-end tools, but the revenue bump that follows. When ecommerce merchants win back time and money previously spent on manual data entry, processing orders, and cleaning up the inevitable human errors made in the process, they channel those valuable resources back into revenue generation and forming valuable customer relationships.
The most savvy ecommerce sellers seek out automation before their business becomes unmanageable. Rather than treat the symptoms of the headaches caused by lack of automation, they prevent them altogether with Webgility — a partner that connects and scales with them seamlessly.
Ready to take your ecommerce business to the next level? Webgility is a multichannel retail management solution that empowers businesses to thrive in ecommerce by integrating their systems, automating their operations, and delivering powerful insights—so they can move faster, make better decisions, and win. Schedule a demo to learn more.