Planning for eCommerce growth
With eCommerce sales expected to double again by 2026, a growing market means more opportunities – with more competition – and for eCommerce brands and retailers to thrive they need a laser focus on their customers, technology, growth and competitive approaches.
Fast-growing markets always attract competition particularly when the barriers to entry are so low. With tech-savvy digital natives and start-ups entering the market continuously, alongside the retail laggards.
With so much competitive ‘noise’ old growth tactics cannot be relied on and new strategies need to be devised, particularly as consumers’ expectations are rising and they particularly want no friction.
The most effective eCommerce companies are consistently testing ideas, measuring results, and executing changes to their ways of working in four critical areas.
Successful strategies for growth should also identify, isolate and eliminate those frictions that diminish the customer’s experience including, optimising prices, covering gaps in supply chains, and reducing delivery costs.
Truly digital players have fully integrated digital sales with the rest of the value chain, which allows them to quickly react to new customer demand, adapt existing offerings, introduce new products and services, and deliver them to customers fast.
Personalising customer journey
Tailored marketing, services and offerings are shortcuts to customer loyalty and eCommerce growth, with over 60% of customers wanting to keep it personal with the brand.
By using AI to understand individual preferences, businesses can provide excellent customer service and increase sales. Smart algorithms analyse customer data to generate product recommendations and content at scale, support marketing strategies, and enable dynamic pricing.
Provide customers with unified and consistent journeys across all brand channels, shopping effortlessly via their channel of choice.
Each omnichannel eCommerce instance has distinct foundational capabilities that you have to weave into your customer service and eCommerce strategy framework.
Protecting profit margins by optimising operational efficiency is one of the main levers of cost reduction, particularly when solid analytics and end-to-end automation are available.
Your data is invaluable. It needs to be nurtured and leveraged to generate the insights that will contribute to operational excellence.
Transactional data, social data, and information from internal business systems can all be fed into analytics tools and delivered in the form of comprehensible visuals, that will guide decision-making, marketing and forecasting.
Monitoring marketing efforts, best-selling products, and the end-to-end supply chain will help you identify weak links and where you can optimise.
Optimising ensures you can effortlessly cope with seasonal demand and spikes, with aligned inventory levels, that lead to reduced costs of fulfilment.
The modern eCommerce paradigm mandates automation to streamline critical processes and create organisational efficiencies.
Connecting the back end of the eCommerce store with your warehouse management, inventory and order handling into a single system with automated workflows, optimises the fulfilment process and means you can automatically sync inventory levels across multiple distribution platforms, warehouses, and shops.
Visibility of the entire fulfilment process sets the ground for a demand-driven inventory approach, reducing waste and inventory costs.
Growing an eCommerce business is made so much easier with scalable, resilient and agile supply chains, that are integrated with your warehouse, inventory, fulfilment and online store.
Noatum Logistics work with retailers and brands, of all sizes, delivering inventory from source to DC, serving eCommerce customers around the world and sharing critical data through our powerful PowerView platform.
Our experienced team have been developing and supporting agile supply chains for years, with flexible fulfilment and courier services, which means that you only ever pay for the service you use, and the orders you process and deliver.
Noatum Logistics’ eCommerce solutions include:
- End-to-end supply chain visibility
- Global inventory management
- Multi-modal freight forwarding
- Flexible warehousing
- eCommerce fulfilment
- Courier management
- Store replenishment
- EU distribution
- Cross-border clearance services
- Last-mile delivery
To learn more, or to discuss your eCommerce growth plans, please email Hannah Porter, Strategic Development Manager – North Europe.