It’s hard to pick sides in the battle between Walmart and Amazon. After all, we’re talking about two business empires that both disrupted the retail landscape. First, Walmart changed the way smaller retailers competed. Then, Amazon came along and forced Walmart to change. Finally, Walmart did. And, in this time of change and opportunity, Walmart shows that, with the right strategy and systems, retailers can really make eCommerce pay off for their business.
Innovative Supply Chains Make eCommerce Pay Off
According to Forbes, Walmart’s online strategy resulted in a 60% year-over-year eCommerce growth in 2017. With its vast fleet of physical stores and its logistics network, Walmart’s eCommerce investment laid the groundwork for a true omnichannel offering. Indeed, Walmart now accommodates options like click-and-collect, which translates to more sales and higher customer satisfaction. However, you don’t have to be a retail giant to make eCommerce pay off.
Integrate Your Channels
Use a cloud solution to connect your retail, online and marketplace channels solutions with your back-office business processes. First, it reduces the amount of administration required to manage orders and fulfillment for each channel separately. Secondly, this centralization allows retailers to more effectively manage their overall sales, promotions, contacts and purchasing strategies.
Outsource Your Warehouse and Shipping
Obviously, most businesses do not have the extensive logistics enjoyed by Walmart and Amazon. That’s why there’s a whole industry devoted to outsourced warehousing and shipping. Businesses use 3PLs and shipping solutions to hold their inventory and quickly fulfill orders, particularly for their eCommerce channels. This not only eliminates the cost of owning a warehouse but more importantly, it lends itself to growth for retailers as they add new online sales channels.
Find Your Marketplace Opportunity
Retailers can’t afford to see marketplaces as an existential threat. In fact, a properly executed marketplace strategy can bolster a company’s existing eCommerce and physical channels. For example, consumers tend to start their product searches on Amazon more than on Google. So, a well-executed Amazon page won’t just open up new sales opportunities. It also has the potential to create brand awareness and draw customers to your eCommerce website. Not only that, Amazon is just one among a number of marketplace opportunities.
Manage, Centralize, Automate
Retailers use Cin7 for a centralized, cloud-based inventory management solution to manage multiple channels. Not only does Cin7 bring POS, marketplace and eCommerce channels together. It automates order processing, routing and dispatching for truly efficient supply chain management.
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