Multichannel eCommerce is certainly the future of retail – especially as social shopping continues to prosper. Modern-day customers prefer shopping in more places than ever. Therefore, the brands need to get in their feeds across all touchpoints.
Though, many of the retailers often tend to face challenges while selling their products across different channels. This could be across the management of products across varied categories and on disparate IT systems. Without a centralized system – order & inventory management can become complex while reducing business efficiency, increasing error probability, delay in order deliveries & ultimately – driving away customers to the competition.
This is where a multichannel eCommerce management system can prove to be a game-changer. Think of it as the H.O.M.E.R handling the entire fleet of Iron Man’s inventory, armors & projects! (Geek Level 100). Read on to uncover our eCommerce management software development capabilities & how you can leverage them to drive more sales & delight customers.
Let’s start with a few basics!
It is the practice of leveraging several sales channels across different marketplaces and platforms.
For starters, it empowers merchants to provide a seamless service to customers. This is while keeping inventory, sales, support tickets & customer communications in order. And, taking advantage of tools designed specifically for multisource sellers helps save time, money and manpower costs. Further, investing in multichannel eCommerce software development can bring businesses the following benefits:
If you’ve read so far, you’re possibly convinced that a multisource eCommerce model can unlock new opportunities for your online business. But before you take the plunge, here are some top tech trends in the retail industry which are greatly influenced by multichannel eCommerce growth that you must consider.
Here are some tech trends that can increase customer engagement, satisfaction, and sales.
130 million Instagrammers click on promotional posts & ads every month. No wonder eCommerce businesses are cashing-in on impulsive buying decisions. With social networking sites, this advantage is amplified. Popular sites like Instagram & Facebook enable seamless online shopping without needing your customers to leave the platform!
40% of consumers use voice search to purchase products every month. It’s gaining popularity among online shoppers who’re looking for a hassle-free experience. After the introduction of Alexa by Amazon, voice-command has become a must-have feature for modern eCommerce businesses today.
While eCommerce brands are constantly looking for ways to increase sales & improve CX; the best way to achieve both these goals is by leveraging PWAs. They offer all the benefits of a smartphone user experience to boost your engagement & conversion rates, cost-effectively. Did you know – PWAs have a 36% higher conversion rate as compared to native apps.
The CLV (customer lifetime value) for omnichannel shoppers is 30% higher as compared to people who shop from a single channel. To capitalize on this trend, your business needs to be well-positioned on social sites, marketplaces, in-store & online. Now is the time to pop-up in their feeds across all touchpoints!
69% of consumers are less likely to buy from a brand in the future if their order was not delivered within 2 days of the promised date. This clearly shows they want fast yet flexible delivery options. And so, retailers are turning towards convenient order fulfillment options such as:
55% of retailers that deploy interactive bots land more high-quality leads. Plus, this technology keeps eCommerce businesses up & running 24×7 while saving their time and money. Smart bots can be leveraged to address customer queries, provide personalized recommendations & process transactions faster.
A cosmetic brand recorded exponential growth in sales after launching an AR filter. The adoption of VR in eCommerce has also increased online shopping conversions by 17%. Progressive retailers have started leveraging AR & VR to enhance the shopping experience with true-to-scale 3D products. Shoppers can now see how a product will fit and feel in the real world.
The retail revenue generated from live online shopping is anticipated to increase 3X, reaching 35 billion dollars by 2024. Being both engaging & immersive, live streaming can accelerate your conversions, enhance the brand appeal and strengthen your market position with existing customers while attracting new ones.
Expanding your business with multisource selling means you’ll have to do much more than – tracking inventory, sales, orders, and customer data. Rishabh Software helps eCommerce businesses with custom solutions to streamline product showcase, scale operations & address the ever-evolving customer demands while leveraging B2C & B2B channels. Further, we help integrate POS systems, accounting, logistics and more to cater to the current and future business needs.
Expand your business across sales channels & increase revenue with an eCommerce order management system.
Rishabh can help custom build a feature-rich SaaS-based retail management system. It combines inventory, order, vendor and customer management into one centralized system, that can be accessed anytime, anywhere.
Let’s look at the essential modules and features that can be part of such a platform.
The module effectively manages your inventory online.
Its core features include,
Multi-channel eCommerce Inventory Management
Tracking of Manufactured Items
Effectively handle customer orders from integrated sales channels using this module of the eCommerce order management system.
It enables you to,
Consolidate Orders from Different Sales Channels
Streamline Order Fulfilment Process for Multiple Warehouses
A dedicated dashboard of the multichannel eCommerce software allows vendors to register quickly and manage their product catalog with swift data maintenance.
It also helps to,
Update Product Price & Quantities to the Marketplace
The system offers vital enterprise-level insights to bring brands to life and create meaningful customer experiences.
It is with;
Controlling Logistics & Returns
Helps to manage & monitor products across all sales & distribution platforms in real-time. Key capabilities include:
Organize, pick, pack and transfer inventory between warehouses with features like barcode scanning, batch & bin picking, and automated routing for faster order fulfillment.
It helps minimize errors with shipping and optimizing the processes that allow:
A single-view dashboard allows granular level insights into business data, uncover shopping trends & make better business decisions with accurate reports.
Explore how we helped an Asia-based eCommerce solution company automate and centralize their listings on leading marketplaces like Amazon, Flipkart, Snapdeal & more. Major highlights of the multichannel eCommerce management system were a dedicated vendor dashboard, advanced analytics & CRM.
Multisource selling will continue to enable retail business owners to sell more and earn more. But when expanding to new channels, growth can be hindered in absence of a proper eCommerce management system. And, market reputation could be at risk if the orders get delayed or customer queries go unanswered for too long. Eventually, it might hurt your visibility on the online marketplace as well.
Be prepared for the challenges that come with multisource selling by investing in software that is specific to your business ecosystem. Rishabh Software can help develop a custom multichannel eCommerce management system that can offer businesses the best chance of success. You can even explore our comprehensive portfolio of eCommerce website development services to learn how we support businesses to scale up profitably.