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09/22/2020
1. Roughly 50% of American small businesses do not have websites.
Simply put, this is unacceptable! By not having a website, you are turning away over half of potential customers, not to mention expansion opportunities into different regions and countries. All businesses, regardless of their sector should have a website to, at the very least, display a brand image online.
2. 65% of in-store customers look up price comparisons before buying a product.
If you look around your store, you will surely see customers on their phone price checking a product. This is one of the many reasons that it is essential to have a strong online presence and website!
3. Roughly 2.86 website visits convert to purchases online.
While reaching the right people is essential to driving sales, it is also a numbers game. Having strong social media accounts and online advertisements are very helpful in getting website visits. Once prospects are on your website, it is the job of a strong website experience to keep them there and turn sales.
4. 69 percent of online shopping carts are not purchased.
A strong website design and purchase inceptives are crucial is reducing this number and turning sales.
Simply put, this is unacceptable! By not having a website, you are turning away over half of potential customers, not to mention expansion opportunities into different regions and countries. All businesses, regardless of their sector should have a website to, at the very least, display a brand image online.
2. 65% of in-store customers look up price comparisons before buying a product.
If you look around your store, you will surely see customers on their phone price checking a product. This is one of the many reasons that it is essential to have a strong online presence and website!
3. Roughly 2.86 website visits convert to purchases online.
While reaching the right people is essential to driving sales, it is also a numbers game. Having strong social media accounts and online advertisements are very helpful in getting website visits. Once prospects are on your website, it is the job of a strong website experience to keep them there and turn sales.
4. 69 percent of online shopping carts are not purchased.
A strong website design and purchase inceptives are crucial is reducing this number and turning sales.
09/16/2020
Regardless of whether you run paid advertising on social media accounts, a strong social media brand image is essential for success in 2020. This is especially true for dropshippers, online merchandisers, and B2B ecommerce companies. If your company does not currently have an up-to-date, regularly posting social media presence, doing so will go a long way towards growing your brand and business. Here are some statistics regarding social media presence.
1. Poor or no social media accounts create a negative brand view for potential customers and clients in under a second.
2. Over 50% of the world's population regularly uses social media.
3. 54% of online shoppers use social media to research companies and products.
4. Social media is the most inexpensive way to build brand loyalty and a brand image.
5. The majority of people under 40 get their news from social media.
1. Poor or no social media accounts create a negative brand view for potential customers and clients in under a second.
2. Over 50% of the world's population regularly uses social media.
3. 54% of online shoppers use social media to research companies and products.
4. Social media is the most inexpensive way to build brand loyalty and a brand image.
5. The majority of people under 40 get their news from social media.
09/02/2020
Instagram users know just how effective the platform has been for merchandisers and startups to reach their target audiences, grow brand awareness, and increase sales. Everytime an individual checks their feed on the platform, they will undoubtedly be exposed to a paid advertisement for a clothing or product merchandiser. I often find myself unconsciously visiting websites of brands that I have never heard of, solely because their product was presented on my Instagram feed in a compelling way. Companies such as Cuts and BirdDogs have been able to utilize the effectiveness of advertising on Instagram to fuel impressive sales growth.
However, rapidly growing social media platform TikTok, which has over 800 million active users, recently announced a partnership with Amazon-like dropship website TeeSpring. This presents an unprecedented opportunity for dropship merchandisers to reach TikTok's predominantly young user base. The social media platform has over half of its users between the ages of 18-24, which has been the most successful target demographic for recent web-based merchandisers.
Utilizing TikTok advertisements presents a viable path to sales and brand growth, however a strong dropship platform and well branded website are what builds customer loyalty and will separate companies in the soon to be crowded advertisement space.
However, rapidly growing social media platform TikTok, which has over 800 million active users, recently announced a partnership with Amazon-like dropship website TeeSpring. This presents an unprecedented opportunity for dropship merchandisers to reach TikTok's predominantly young user base. The social media platform has over half of its users between the ages of 18-24, which has been the most successful target demographic for recent web-based merchandisers.
Utilizing TikTok advertisements presents a viable path to sales and brand growth, however a strong dropship platform and well branded website are what builds customer loyalty and will separate companies in the soon to be crowded advertisement space.
08/14/2020
Amazon is undoubtedly the poster child for eCommerce and dropshipping. The trail blazer. However, its incredible recent growth has left many speechless. Almost everyone knows that Amazon is a dominant company, but most don't know exactly how large and impactful the company is, especially within the United States. Understanding this can better inform eCommerce companies on how to utilize the platform for brand exposure. After all, there is a reason that even some of the world's largest retailers, such as Nike, utilize the power of Amazon's vast reach to promote products and the brand. Furthermore, dropshippers operating solely on Amazon should consider investing in their own website and online brand, in order to reap the benefits of both and grow.
1. 9 out of 10 online shoppers price check using Amazon.
2. In 2019, 82% of American households had Amazon Prime subscriptions.
3. According to marketplacepulse, over 250,000 unique sellers did at least $100,000 in sales on Amazon in 2019.
4. 80% of Amazon sellers have their own website in addition to their Amazon profile.
5. In 2018, the average Prime member spent $2,586 compared to $544 for the average non-Prime member.
1. 9 out of 10 online shoppers price check using Amazon.
2. In 2019, 82% of American households had Amazon Prime subscriptions.
3. According to marketplacepulse, over 250,000 unique sellers did at least $100,000 in sales on Amazon in 2019.
4. 80% of Amazon sellers have their own website in addition to their Amazon profile.
5. In 2018, the average Prime member spent $2,586 compared to $544 for the average non-Prime member.
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.
