The future of digital retail is diversification. It’s all about how a business puts itself in the market and how it draws customers. Firms must explore multichannel strategies that allow them to reach out to their target audience and utilize various digital advertising opportunities to generate online traffic and boost sales.
eCommerce sales have witnessed a sharp growth over the last few years. It is set to account for US $4.058 trillion of sales in 2020 — that is equivalent to 14.6% of total retail sales of US $27 Trillion. Needless to say, the internet retail is growing and along with it the demands for multi-channel retailing continues to evolve. Also, the methods for connecting buyers and sellers are centered around two basic approaches: Integrated software platforms (ISVs) and marketplace platforms. But how to choose the best software for online retail businesses?
Here are three essential factors to keep in mind, before selecting a multichannel marketplace software :
Complement existing business model:
Investing in a cloud-based system will significantly lower the IT budget and improve operations across multiple channels. It gives companies the scope to scale up their operations whenever needed.
Integrate efficient supply chain management:
Non-adaptive and obsolete systems create hindrance to any business. This could save plenty of time and streamline records maintenance across various systems.
Automation is crucial:
Online retail need solutions that are both flexible and scalable. Leveraging a cloud software is not the only key aspect for the business. To gain a critical competitive edge in the e-commerce landscape, companies should look to automate operations so that they focus on state-of-the-art management practices and growing business needs.
The KartzHub Quotient
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