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08/10/2020
2020 has etched its mark in history. A year of pain, in which the worst pandemic of the modern era has swept across the globe, tragically affecting millions and essentially shutting down the world as we know it. However, revolutionary innovation is almost always bred from great tragedy. The black plague prompted the Renaissance era and the birth of modern medicine. Debate over inoculation during the Boston Smallpox epidemic led to the creation of free press in the United States. The list goes on.
Today's pandemic has challenged, and in many cases, overwhelmed our country's healthcare systems. Doctors, nurses, and medical infrastructure have been overworked with spikes in cases. It's clear that there must be changes moving forward, for the sake of patients, doctors, and other medical professionals.
The pandemic will undoubtedly breed a technological revolution in the healthcare sector. Access to patient records, prescription visits, well visits, patient monitoring, scheduling, payment management, insurance integration, and many other traditionally in-person undertakings will become standardly remote. This will allow doctors to focus their time on patients that need in-person visits, while automating actions that can be done remotely. Infrastructure will also not be overwhelmed.
Many healthcare institutions are already investing in this future vision. Updating stereotypically outdated websites, hosting platforms, and online presences are helping institutions begin to modernize and get ahead of the impending healthcare revolution. All of this is ultimately helping all players in the healthcare sector: doctors, nurses, administrative staff, and patients.
Today's pandemic has challenged, and in many cases, overwhelmed our country's healthcare systems. Doctors, nurses, and medical infrastructure have been overworked with spikes in cases. It's clear that there must be changes moving forward, for the sake of patients, doctors, and other medical professionals.
The pandemic will undoubtedly breed a technological revolution in the healthcare sector. Access to patient records, prescription visits, well visits, patient monitoring, scheduling, payment management, insurance integration, and many other traditionally in-person undertakings will become standardly remote. This will allow doctors to focus their time on patients that need in-person visits, while automating actions that can be done remotely. Infrastructure will also not be overwhelmed.
Many healthcare institutions are already investing in this future vision. Updating stereotypically outdated websites, hosting platforms, and online presences are helping institutions begin to modernize and get ahead of the impending healthcare revolution. All of this is ultimately helping all players in the healthcare sector: doctors, nurses, administrative staff, and patients.
08/07/2020
The graphic above illustrates the five fastest growing and declining retail brands, based on market value, from 2019-2020. While some of these placements might come as a surprise, here are some factors that have led to each company's rise or fall.
Amazon
The company has invested heavily in India, where eCommerce currently lags behind the world average. Currently, only 1.6% of retail sales within the world's second most populated country come from eCommerce, significantly lower than the world average. With the eCommerce sector projected to increase by $200 billion by 2026, Amazon's investment is already starting to take shape.
Lululemon
In addition to excellent management, Lululemon has found success in its' "buy online, pickup in store" shopping option. Customers are allowed to combine the convenience of shopping from home, while not having to wait for shipping, as orders are ready within an hour of purchase. This model has become very popular and gets customers in their doors, exemplifying an innovative eCommerce solution.
Costco
According to The Motley Fool, "Costco is starting to deliver on the e-commerce side of the business, showing a 17.9% increase in e-commerce revenue over the 6-month period ending March 1. To help the e-commerce growth along, Costco acquired Innovel Solutions in mid-March for $1 billion. Innovel is a logistics company that specializes in storage, transport, and delivery of "big and bulky" items.
Innovel states that the company can reach "90% of the U.S. and Puerto Rico." This enables Costco to more easily deliver large items to customers, which enhances the opportunities for it to sell bulky merchandise. As the United States and Puerto Rico make up 547 of Costco's 786 warehouses in operation, Costco's large item delivery reaches 70% of the customer base."
Under Armour
Under Armour is getting severely outcompeted by Nike and Adidas, both domestically and abroad. The biggest reason for their decline, however, is their difficulties within the direct to consumer online (DTC) space, where sales grew a mere 1% last year. By comparison, Nike's DTC revenues grew 17% in Q4 2019 alone. The race for DTC revenue is on in the sportsware sector, and Under Armour is struggling mightily.
Walgreens
Forbes writes that the Walgreens, "Retail segment, which includes the company's retail sales of prescription drugs, and consumer healthcare products, saw sales decline from $40 billion in 2016 to $39 billion in 2019, and it will likely decline to less than $38 billion in 2022". Similarly to the rest of the decliners, retail sales are down and the company must look to eCommerce in order to stabilize and grow going forward.
08/05/2020
Let's face it, 2020 has been a volatile year for the overall economy, mostly because of the COVID-19 pandemic. With many brick and mortar businesses forced to temporarily close, bankruptcies have ensued. Many of the most susceptible companies, small businesses and startups, that have low cash reserves were the first group forced to suspend operations or file for bankruptcy. However, even retail giants have been severely affected by the pandemic in the U.S. With the recent bankruptcy of Lord+Taylor and its subsidiaries Men's Wearhouse and Jos A. Bank, the tally is up to 26 major U.S. retailers that have suffered the same fate so far in 2020. Many others, such as Macys and Dick's Sporting Goods, leaned heavily on cash reserves as they operated at a loss in Q2, and were forced to lay off many employees.
Despite the overall economic downturn, there has been a bright spot that has taken advantage of market conditions. The Ecommerce sector has posted record growth thus far in 2020. Amazon's market valuation has risen an incredible 67%, while Shopify has posted a year-over-year Q2 earnings increase of 97.3%. Simply put: eCommerce is thriving.
Because of this, companies are investing heavily in their eCommerce and web presence. While not all companies can function as a total eCommerce website, this year proves that successful companies must have a strong online brand and commerce platform. While everyone knew that eCommerce is the business of the future, 2020 has made it crystal clear that it is also the business of the present. Companies are either adapting and thriving or being left in the dust. In today's commerce climate, a strong online presence and eCommerce platform is requisite for success!
07/23/2020
Cover shipping
Consumer studies show that the greatest incentive to purchase a product online is free shipping. Oftentimes, providing free shipping is significantly more effective at encouraging purchases than even high markdowns with paid shipping. According to studies, 93% of customers view free shipping as a strong incentive to make a purchase, 61% of customers reconsider making a purchase if free shipping is not offered at checkout, and the total value of order with free shipping is 30% on average.
Invest in a strong mobile website
Mobile sales are dominant in the ecommerce industry today. Having a poor mobile experience alienates a large pool of potential customers, capping revenue potential. While investing in a mobile site, it is best to design it correctly as the benefits will pay for themselves. In 2018, over half of all internet-based transactions occurred on mobile devices and that number will continue to increase. Seemingly simple integration such as Apple and Google pay can go a long way in building customer loyalty and growing your business.
Promote your bestsellers
Whether you know it or not, every company has its staple product(s) or services that dominate sales. It is important to understand what that is for your company and effectively promote these products. Promoting popular products makes it easier for customers to quickly navigate your site when they are looking for that product in particular. Also, promoting strong products leads to increased sales to customers who aren't looking for anything in particular, creating a win-win situation.
07/03/2020
Time does not equal money. The value of time cannot be quantified. This is especially true in the world of dropshipping. Today, the dropship market brings many challenges causing fear and stress to companies. Managing order transactions, organizing shipping across vendors, and managing payment schedules creates uncertainty and unnecessary, time-consuming manual work. There are only 24 hours in the day and manually completing tasks like these are a waste of any company's most valuable resource: time. Jetti provides a fully automated dropshipping service, allowing companies that are serious about growing their business to focus their most valuable asset on business development. As industry leaders, Jetti provides clients the confidence that their dropshipping logistics are completely and accurately automated.
The Coop, official merchandiser of Harvard and MIT and one of Jetti's partners, no longer wastes precious time manually sorting through each order to place requests through every individual brand that they use. Jetti's service automatically splits orders, syncs tracking, and handles payments, saving countless labor hours. Join the Coop and experience how a partnership with Jetti has allowed them to maximize their most valuable asset, taking their business and profits to the next level, while ditching the stress.
Learn more about Jetti's dropshipping solutions.
The Coop, official merchandiser of Harvard and MIT and one of Jetti's partners, no longer wastes precious time manually sorting through each order to place requests through every individual brand that they use. Jetti's service automatically splits orders, syncs tracking, and handles payments, saving countless labor hours. Join the Coop and experience how a partnership with Jetti has allowed them to maximize their most valuable asset, taking their business and profits to the next level, while ditching the stress.
Learn more about Jetti's dropshipping solutions.
07/03/2020
Uncertainty equals stress. Stress equals frustration. Frustration equals anger. Anger equals failure. This is an unfortunate cycle of emotions that is deeply ingrained in human nature. It will also define businesses as long as they are made up of humans. In the ecommerce sector, uncertainty manifests itself in the relationship between a platform and its various vendors. In a business predicated on instant transactions, quick communication, and tight logistics, communicating with numerous vendors regarding orders can be painfully slow and extremely stressful. This not only wastes your time, but innate causes uncertainty, leading your business onto the path to failure.
Jetti partners with ecommerce platforms to utilize its immense expertise and automate every aspect of managing vendors. This not only allows companies to direct labor to more important aspects of business development and management, but provides confidence and certainty. This peace of mind is essential for ensuring the growth and longevity of the company, and everyone within it. Learn more about Jetti's solutions here.
Jetti partners with ecommerce platforms to utilize its immense expertise and automate every aspect of managing vendors. This not only allows companies to direct labor to more important aspects of business development and management, but provides confidence and certainty. This peace of mind is essential for ensuring the growth and longevity of the company, and everyone within it. Learn more about Jetti's solutions here.
07/02/2020
Today traditional distributors find their industry rapidly changing, and the services they were once valued for no longer provide as competitive an advantage as they once did. As shopping carts become more virtual, and window shopping is replaced with browser screens the importance and need for B2B e-commerce becomes increasingly important.
Today's buyers are used to doing their own research and enjoy the quick availability of information from pricing, product delivery information, and product availability. It is important for wholesalers to have a stronger online presence in order to remain competitive.
As stated by Pepperi in 2020 article "If you haven't already invested in a B2B e-commerce platform, you're likely lagging behind your competition. According to a recent survey by Accenture, 86% of US-based B2B companies with over $500M in annual revenues have already implemented a B2B e-commerce solution."
Wholesalers should take note of this and use e-commerce platforms as a way to enhance and leverage their customer experience, tap into new markets and allow consumers to shop mobile.
Dreaming Code's B2B ecommerce solution can grow your business. Our platform allows you customers to view commonly placed orders with custom pricing all in one portal.
Today's buyers are used to doing their own research and enjoy the quick availability of information from pricing, product delivery information, and product availability. It is important for wholesalers to have a stronger online presence in order to remain competitive.
As stated by Pepperi in 2020 article "If you haven't already invested in a B2B e-commerce platform, you're likely lagging behind your competition. According to a recent survey by Accenture, 86% of US-based B2B companies with over $500M in annual revenues have already implemented a B2B e-commerce solution."
Wholesalers should take note of this and use e-commerce platforms as a way to enhance and leverage their customer experience, tap into new markets and allow consumers to shop mobile.
Dreaming Code's B2B ecommerce solution can grow your business. Our platform allows you customers to view commonly placed orders with custom pricing all in one portal.
07/02/2020
Differentiating oneself in the world of B2B ecommerce is difficult. B2C platforms simply require a catalogue of all products, which customers can browse and make purchasing decisions based on personal interests. In this case, promoting all products on the website is preferable because in many cases, customers are not shopping for one pre-determined product. Even if they were, promoting other products has the potential to catch the attention of the individual, ultimately ending in a sale.
"Don't become a wandering generality. Become meaningfully specific."
- Hilary "Zig" Ziglar
Renowned Sales Author, Motivational Speaker
Many times, in B2B ecommerce, this sales strategy is actually counterproductive, leading to customer dissatisfaction, a less intuitive user experience, and lost business. Promoting all products for all users provides a cluttered client experience, as not all clients have a need for all the products that are being offered. For example, it is unnecessary for a B2B tire wholesaler to include its' car tires in the catalogue for an aeronautics manufacturing client. In fact, such redundancies often display a lack of personalization and care for each client, both of which conveying unprofessionalism.
Utilizing a platform with customizable client catalogues ensures that customers will only see products that are relevant to their business, allowing for an easier, less clutter client experience and a happier client. Customizable SaaS platforms allow ecommerce companies to continuously update what products specific customers can see based on what their clients convey as needs. Furthermore, such platforms allow ecommerce firms to fully customize and individualize all pricing for all products for all customers to account for variations in pre-negotiated product prices between clients.
Dreamingcode's ecommerce solutions have always been built around this need for user customization in ecommerce. Website design with seamless integration of custom client catalogues and pricing is essential in today's competitive ecommerce world and will help take customer satisfaction and sales to the next level for your company. These and many other features are unique to Dreamingcode's SaaS solutions. If you would like to learn more about taking your ecommerce business to the next level, contact us or learn more about our demo program.
06/26/2019
In a report by Forrester, it was predicted by 2023 that the total B2B sales driven by B2B eCommerce within the United States would reach up to $1.8 trillion. Furthermore, the report predicted that 17% of total B2B sales would be from B2B eCommerce. A B2B eCommerce platform can reap extreme benefits for any business looking to make the buying experience for their customers easier. In a Forrester Research/ Internet Retailer report, dated back to figures from 2016, 57% of B2B sellers stated that the top priority for their business was developing an eCommerce platform.
Three years ago, B2B sellers realized where the world was heading: into the direction of technology. It's not too late to join the wave of the future and adopt an eCommerce platform for your B2B business. A B2B online platform will allow your company to keep up with the advancing digital future while simultaneously make ordering for your customers easier, quicker, and more convenient. B2B eCommerce platforms are no longer extremely complex, in fact they look and operate just like B2C platforms.
Your customers will quickly transition from their old ways of ordering their supplies to now ordering those same supplies from an online platform. This means customers can place their orders on any day and at any time of the day. For example, if a customer forgets to place an order before the end of a work day, they no longer need to worry because they'll have an online platform they can order their products from. A B2B eCommerce platforms gives customers more freedom and flexibility when placing their orders. The easier it is for a customer to buy your products, the better.
Author: E. Sutter
Three years ago, B2B sellers realized where the world was heading: into the direction of technology. It's not too late to join the wave of the future and adopt an eCommerce platform for your B2B business. A B2B online platform will allow your company to keep up with the advancing digital future while simultaneously make ordering for your customers easier, quicker, and more convenient. B2B eCommerce platforms are no longer extremely complex, in fact they look and operate just like B2C platforms.
Your customers will quickly transition from their old ways of ordering their supplies to now ordering those same supplies from an online platform. This means customers can place their orders on any day and at any time of the day. For example, if a customer forgets to place an order before the end of a work day, they no longer need to worry because they'll have an online platform they can order their products from. A B2B eCommerce platforms gives customers more freedom and flexibility when placing their orders. The easier it is for a customer to buy your products, the better.
Author: E. Sutter
06/25/2019
It's clear that the internet is a popular tool that we utilize in our day-to-day lives. Yet, how many of us actually use the internet? In the Global Digital 2019 Report, it takes a more in depth analysis of how much of the world actually uses the internet. As of January 2019, according to the report, there were 7.676 billion people that populated the globe. Of this 7.676 billion, 4.388 billion people used the internet in some type of way. That's 57% of the entire population.
From January 2018- January 2019, the world population rose 1.1%, or 84 million people. Within the same year evolution, there was a 9.1% increase in internet use, or 367 million people. Meaning, 367 million more people decided to use the internet within a single year, that's about a million people per day now utilizing the internet.
The Digital United States 2019 Report offers the same type of data, but specifically for the United States. Within the US, there's a total population of 327.9 million people. For this country, there is a 95% total of the population that uses the internet, therefore 38% higher than the global population's internet use. 312.3 million people in the US use the internet!
From January 2018- January 2019, the total population within the country grew .7%, or two million more people. From the same timeline, there was a spike of 8.8% (25 million) in internet usage. Not only is basically the entire country using the internet, the report goes further into how often we use the internet and for how long.
The average daily time spent using the internet from any device that has access to it, within the US, is six hours and thirty-one minutes. 86% of the US population checks the internet every single day. 8% of people use the internet at least once every week, 5% of people use the internet at least once a month, and there's the 1% that uses the internet less than once a month.
Based on the two reports full of internet usage information, it's clear that almost every single person in the United States is connected and using the internet in some way or another. Globally, more than half of the total population is utilizing the internet. On top of that, the number of internet users are growing, as we've seen from the 2018-2019 comparison. The internet is quickly becoming apart of everyone's day to day lives, so why not utilize the platform that everyone seems to be using to benefit your business?
Author: E. Sutter
From January 2018- January 2019, the world population rose 1.1%, or 84 million people. Within the same year evolution, there was a 9.1% increase in internet use, or 367 million people. Meaning, 367 million more people decided to use the internet within a single year, that's about a million people per day now utilizing the internet.
The Digital United States 2019 Report offers the same type of data, but specifically for the United States. Within the US, there's a total population of 327.9 million people. For this country, there is a 95% total of the population that uses the internet, therefore 38% higher than the global population's internet use. 312.3 million people in the US use the internet!
From January 2018- January 2019, the total population within the country grew .7%, or two million more people. From the same timeline, there was a spike of 8.8% (25 million) in internet usage. Not only is basically the entire country using the internet, the report goes further into how often we use the internet and for how long.
The average daily time spent using the internet from any device that has access to it, within the US, is six hours and thirty-one minutes. 86% of the US population checks the internet every single day. 8% of people use the internet at least once every week, 5% of people use the internet at least once a month, and there's the 1% that uses the internet less than once a month.
Based on the two reports full of internet usage information, it's clear that almost every single person in the United States is connected and using the internet in some way or another. Globally, more than half of the total population is utilizing the internet. On top of that, the number of internet users are growing, as we've seen from the 2018-2019 comparison. The internet is quickly becoming apart of everyone's day to day lives, so why not utilize the platform that everyone seems to be using to benefit your business?
Author: E. Sutter
