E-commerce giants like Amazon, Wal-Mart etc are like a whale, they gulp down numerous fishes like varied retail stores and provide them a dais where they can sell their services or products to potential mass. Have you ever put your leg in retail store owner’s shoe and visualized what process is implemented in the background that delivers your order on your doorstep.
Whether a retailer wants to be part of ginormous platforms or wants to open an individual e-commerce store, in both cases they have to go through a bumpy ride. Let’s have a look at challenges retail store owners face and how they overcome those.
Opt right technology: Ups & Downs has always been seen in technology trend line. New technologies replace older ones and whole application is either to be updated or is to be transformed into newer one. But according to present technology market for an e-commerce store, one should opt such technology whose holistic foretells affirmative long-term benefits at affordable cost.
One can go for open source platform like Magento an enterprise level platform, WordPress’s cost-free Woo commerce for WordPress store or cloud platform like Shopify, these are prime leads in the current market. Hence, choose the best technology according to your e-commerce business catering needs. Agile, dependable robust and scalable are some highlighted parts that should be taken into consideration to stand against your competitors.
Global Presence: Internet is a versatile virtual residence. It lays dotted connection all around the globe. Looking at today’s internet use, it is essential to have a global imprint if you want massive buyers or visitors that will plunge your traffic as well as sales. So one needs to pin down vital aspects like providing global logistics, mapping with varied globe currencies rates for transactions, boosting your presence according to distinct countries or region markets etc. So, it is surely a tough call to show up your presence around the globe but it will always be at your side in assisting you to spread your services so that people from any corner of the world can access the same.
Deft supply chain process: It is core process for any retail store. Following are the challenges that retailers face,
- Inventory Management: There are retailers who have more than one warehouse and each and every warehouse’s stock count will vary. So it is difficult for retailers to monitor every place. Out of Stock, Inventory depreciation & Out of date etc are essential tasks that require a constant To overcome loopholes in these areas retailers can use inventory management software’s in which all stock and other management tasks can be managed easily.
- Data integrity: With infinite information flowing in and out there are chances of defective data or it can also be manipulated due to human error. Such corrupt data can hinder the manufacturing of products as all strings tied to supply chain’s aspects like a number of items sold, stock available, stock decline etc can get loosened. So it is extremely necessary to load accurate inventory data.
- Omni Channel: A retail e-commerce store can be labeled under Omni channel only if it extends its periphery beyond brick & mortar and starts adapting methods like mobile browsing, involving in e-commerce marketplaces, on-site shop fronts, social media presence etc.
- Social Lego: Social platforms open infinite doors for your retail store roof. Majority of people with their surfboards are surfing in a sea of Social Media. These mediums help to reach target right audience for your business and it also establishes a long-term bond with users. On these channels, one can create awareness through campaigns, advertisements etc. And it will also help cover major pie of global presence. Hence, if you don’t have dexterity in managing social dais then hire or contact professionals who will fuel all your Social Media and its purpose.
So, if you want to be part of the big puzzle (E-commerce sites: Amazon, Wal Mart etc) or want to have an individual retail store all above are the challenges which you will come across your path. As shoppers increase demand will also plunge and it can be backboned with stock management as so on (the process is in the loop).