9 Things About Ecommerce Inventory Management Your Boss Wants To Know

ecommerce inventory management

1. Overcome Geographical Limitations

One of the most obvious and yet, most important benefits of Ecommerce is that when it comes to your customer base, the sky is the limit. You are no longer limited by the customers that have patronized your business within your community. When you consider the amount of new business you can generate, the cost to maintain the website is minimal. Better yet, create an app for your business to promote smoother transactions online.

2. Gain New Customers With Search Engine Visibility

While the bricks and mortar retailer relies on brand visibility through means of aggressive and competitive marketing, the online retailer relies on search engine visibility and traffic. If a potential customer does a search and your web site pops up, the customer is encouraged to click on it and voila! This customer has now at the very least, been introduced to your website and thus, your company. With Ecommerce, you can buy visibility.

3. Lower Costs

In general, the overhead is lower in Ecommerce, and this can ultimately be passed on to your customer, making you more competitive than your bricks and mortar counterparts. You’ll have to pay for a domain name and a web designer, but some businesses are run with just two employees. Save tons of money in the following areas:

  • Advertising–utilize social media, including giveaways and promotions
  • Search engine traffic—utilize pay per click to generate traffic
  • Employee overheard—much of your work can be automated, meaning less people to pay.
  • Rent—save thousands on rent or mortgage.

4. Locate the Product Quicker

What’s appealing to the customer is that Ecommerce saves time (and gas). If the customer knows exactly what they’re looking for, customers can just use a search box or click through to find what they need. If your website is sophisticated, you can even save user preferences.

5. Eliminate Travel Time and Cost

In this fast-paced, busy society that we live in, customers gravitate to Ecommerce, which does not require them to get in the car and drive, wasting valuable time—especially if the customer knows exactly what he wants.

6. Enable Deals, Bargains, Coupons, and Group Buying

Take more advantage of promotions via Ecommerce. It’s easier to disseminate information and you don’t have to worry about printing coupons. Have fun with it by doing contests, promotions and giveaways on your social media page. Offering “free shipping” by building this into the price, gives customers the feeling that they’ve gotten a deal and reinforces that they didn’t need to go to the store, after all. Further, online shopping also gives the customer the feeling that they can use all their bargains in one place, without having to visit multiple stores. All the promotions are available just a few mouse clicks away.

7. Provide Abundant Information

When it comes to your website you have total control over how much information a customer sees. In a physical retailer, the customer may not have all the necessary information about the product (and low paying employees won’t know the answers). Here, you can include information like dimensions, material, available sizes, customer reviews, etc. Help your customer to feel confident about the purchase and lessen returns.

You can also access abundant information, by embedding cookies in your customer’s computers, or creating profiles or registrations for them. You can then provide relevant messages and suggestions for future purchases.

8. Remain Open All the Time

Have you ever heard of a website closing? Customers can shop when they have time—and in today’s world, that might be late at night, after the kids go to bed, or when the conference call overseas finally ends. Be available for your customers 24/7. You might consider a live chat available during business hours, and an email option after business hours, so your customers feel as if you are constantly available.

9. Create Markets for Niche Products

This is wear search engine visibility will be key to your success. Buyers of unique or niche products can have a tough time finding what they are looking for in physical stores. Save them hours of time by making it one click away. In that case, you’ll definitely have a repeat customer and one who shares the great find with like-minded buyers. You may even go so far as create a networking group for people who may be in need of such products.

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