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No amount of a sale you make is relevant if the product does not exist in your physical domain. A sudden inventory shortage can turn things upside down and you’ve inadvertently got yourself a disappointed customer. Stockouts are a serious problem for many vendors throughout the United States. It’s fair to say it’s a veritable retail epidemic. So, let’s look at common examples of stockouts, their consequences, and the most practical solutions for how to prevent stockouts in advance.
Click and collect sales are expected to exceed $109 billion in 2024. This strong revenue-generating service line has proven to be an ideal option for online and physical stores wanting to grow both revenue and foot traffic. It’s now a key driver in sales of consumer goods, with over 78% of click and collect sales currently in grocery orders. However, many retailers are not yet familiar with click and collect, its processes, and the benefits of store pickup for business.
For online vendors and physical store operators alike, overnight shipping can make all the difference in customer satisfaction and repeat sales. A recent survey indicates that at least 65% of online shoppers in the US are willing to pay more for faster delivery. Use the information in this handy overnight shipping guide to help you determine what is best in next-day delivery options for your customers and your business.
Learning to better manage your inventory can improve your company's efficiency, profitability, and ability to satisfy customers. How can you do that? One way is to master the purposes and meaning of UoM. Read on to find out the UoM meaning and examples, learn the best practices for UoM inventory tracking, and see our list of helpful software solutions.
The e-commerce shipping process includes tasks like preparing orders, packaging, labeling, and transporting them to the buyer's address. To ensure efficient delivery, you, as a seller, have a lot to cover. We suggest starting with uncovering the difference between shipping methods and strategies, recognizing the key couriers, and learning the main cost factors. To top it off, you should know how to manage your delivery workflows via the right shipping tools. And all of this is precisely what this article plans to cover.
Now that the Holiday Season is over, retail businesses bitterly welcome a Season of Returns, as people return their gifts. According to Rob Garf, the Vice President and General Manager of Retail and Consumer Goods at Salesforce, return rates are expected to peak at around 20% for a few weeks into 2024. As businesses gear up to navigate this post-holiday return surge, understanding the dynamics of the RMA process becomes increasingly crucial in managing and optimizing the return process. Let's delve into what RMA is and why it plays a pivotal role in handling post-holiday returns efficiently.
