Top Five Inventory Management Techniques and Their Pros & Cons!

Top Five Inventory Management Techniques and Their Pros & Cons!

As an online seller, you should know that inventory is an essential factor of an eCommerce business. Mismanagement of inventory can destroy your business in so many ways. If you do not realize the importance of inventory management during the initial period of your business, you may lose your value among the customers on the first attempt only. This is the reason why one should consider the importance of this crucial aspect of online business management.

Without having clarity over inventory management, you can not successfully process the order fulfillment process. The fundamental purpose of eCommerce inventory management is to meet the customer’s demand without gathering an overstock and to escape the situation of stock out. To execute this significant process accurately, you must know about several inventory management techniques. Apart from various techniques, you can also get along with an eCommerce inventory management software that provides authentic and precise information about your inventories. In this particular blog, we have mentioned some of the effective inventory management techniques and their pros and cons as well. It can help you manage your inventory and select the best technique for your business.

Five Effective Inventory Management Techniques with Their Pros & Cons

1. ABC Inventory Management

It is one of the most effective inventory management techniques; through this procedure, you can keep your products in order of importance. ‘A’ refers to the most valuable, ‘B’ stands for moderate valuable products, and ‘C’ stands for least valuable products. Because every product can not stand for equal value, and that is why your priority should be paid to the most popular products in your inventory. This technique’s major factor is selling the most valuable products in the first go. Here are some of the pros and cons of this technique that can help you determine whether it is an effective inventory management technique for you or not. You can segregate your products into the ABC category by multiplying the annual number of products sold by cost per item and finding the annual usage value per product.

Pros:

  • This technique can help forecast demand by closely analyzing a top popular product over time.
  • It offers effective time management and resource allocation.
  • It can help in determining an excellent customer service approach.
  • ABC inventory management technique enables inventory accuracy.
  • It can help in implementing strategic pricing for your products.

    Cons:

  • The disadvantage of this inventory management technique is that you may not be able to follow the current trends because your priority will be selling the most valuable items first.
  • This technique may require human resources and more time to segregate the products as per their value.
  • This procedure may require more accurate data collection and measurement.

2. Just In Time (JIT) Inventory Management

Just-in-time inventory management techniques are also considered an effective method. In this process, sellers only receive products from a third-party supplier when they need them. You can say that the primary objective of this technique is to increase inventory turnover and reduce inventory holding costs. This method requires strategic planning for order fulfillment till it gets delivered to customers. Most eCommerce sellers use this method to eliminate inventory wastage. Although this effective technique also beholds significant pros and cons, which we have mentioned in the following points.

Pros:

  • This method is highly effective in eliminating inventory wastage.
  • It also decreases the warehouse inventory holding charges.
  • This technique requires less investment because one only acquires the limited and essential products to sell.
  • JIT inventory management method allows having complete control over the manufacturing process that works on a demand-pull basis.

    Cons:

  • One of the primary disadvantages of this method is that you may experience difficulties fulfilling the order on time.
  • This technique beholds the immense risk of the stockout situation.
  • In any disruption, the just-in-time method can drastically affect your business because there will be no excess inventories to fall back on, and your sales may halt.

3. Backordering Inventory Management Technique

Backordering is another inventory management technique that allows your customers to place an order even if it is out of stock or you do not have sufficient stock of that product. eCommerce sellers implement back ordering when they experience a sudden increase in sales or sell significant products faster than you can stock them. It can be considered as the most common and efficient practice that can be used by online sellers whenever they face a surge in demand. In other words, you can say that backorders are a manifestation that indicates the demand for a product exceeds its current supply rate. In this scenario, you directly send the product request to your vendors, and they fulfill your request, and you then you can ship them to your customers. However, this process also has some pros and cons. Let’s’ check them out.

Pros:

  • This Inventory technique can help you with maintaining the revenue flow in the high-demand low stock situation.
  • It can help you fulfill the customer’s demand even if there are not enough products in your stock.
  • It provides more flexibility to small eCommerce sellers.
  • This inventory management technique minimizes the risk of overstocking.

    Cons:

  • Involvement with this method can highly affect the customer satisfaction rate because of the delay in the fulfillment process.
  • This technique involves a massive chance of order cancellation and refund requests.
  • You may lose your existing customers along with the potential ones.

4. Bulk Shipment Inventory Management

In the entire eCommerce inventory management process bulk shipment method is highly recommended to sellers to meet the higher customer demand in less time. It is cost-effective as buying products in bulk always becomes cheaper in terms of shipment as well. We can say that the bulk shipment inventory management technique is ideal for predominant products with higher customer demand and long shelf life. Let’s find out some of the pros and cons of this inventory management technique.

Pros:

  • The bulk shipment inventory management technique involves a high potential to generate maximum revenue.
  • Though this method allows bulk shipment, hence eventually lowers the shipping costs.
  • It works effectively for prominent products with particular demand and long shelf life.

    Cons:

  • This inventory management technique requires a hefty investment.
  • It increases the essential holding costs for product storage.
  • In this method, it can be challenging to adjust the inventory during the time of demand fluctuations quickly. However, to escape such a situation, you can take the help of some inventory management software such as eVanik OWS.

5. Consignment Inventory Management

In this inventory management technique, the wholesaler has legal ownership of the products, and the sellers are not required to pay for them until they are sold. In this method, sellers can even decide to return any unsold inventory without worrying about financial loss. The most crucial aspect of this method is to manage the consignment inventory so that it moves quickly and efficiently from a wholesaler to the sellers and then to the customer’s doorstep. Lets’ see what the pros and cons of this technique are.

Pros:

  • This inventory management technique allows you to offer your customers a more comprehensive product range.
  • It may decrease the wane time of restocking the products.
  • A seller can also return the products in case of no sale without paying a penny to the wholesaler.

    Cons:

  • Consignment inventory is difficult to manage on a spreadsheet due to the constant movement. However, an online inventory management software such as eVanik OWS can help you with it.
  • A wholesaler may own the stock, but the seller will be responsible for storing them and paying the warehouse.
  • You still have to pay for the warehouse space if there is no sale.

Conclusion

Hence, these are some of the profound inventory management techniques you can use while associating with an eCommerce business. Indeed there are pros and cons to every method, but still, you can choose one as per the nature of your business or whatever method suits you the best. The fundament is inventory should be managed accurately never to disappoint your customers and maintain the supply chain flow. As an eCommerce seller, you can take the help of any prominent inventory management software like eVanik OWS to avoid the over-stocking or less stocking situation. It provides you with an accurate inventory report to clarify your inventory.

A Guide to the AJIO Seller Registration Process!

A Guide to the AJIO Seller Registration Process!

There are so many emerging eCommerce platforms in India, but very few are popular among the border range of customers. Ajio is one of them; it has been established as a lifestyle and fashion brand and is an eCommerce initiative taken by Reliance Digital in 2016. In a short time, this eCommerce platform has become a one-stop online shopping destination for millions of customers. Today along with fashion apparel, it has a long category of products at a reasonable price for its customers. Ajio always offers the best market price, which is the key to its success.

It is the ultimate reason why this eCommerce joint is snowballing and attracting thousands of sellers to come aboard and start their eCommerce journey on a triumphant note. Ajio is constantly looking to introduce fresh, trendy, and quality products to its customers. This platform always wants to educate customers a bit more about styling. So customers are also getting attracted to this platform. It provides immense opportunities to the sellers who want to mark their presence on eCommerce marketplaces. In this specific blog, you will be able to learn about the seller registration process on this platform.

Products that You can Sell on AJIO

Before moving further, it is crucial to know the product categories or product range that AJIO offers you to sell on this platform. It consists of a wide range of product categories on this platform. There are four main product categories of Ajio, such as Men, Women, Kids, Indie, and Home & kitchens. Here we are going to provide an elaborative idea of these categories.

Men: For men, Ajio offers a wide range of products, such as an entire range of ethnic and western wear clothing, footwear, and accessories (including watches, belts, sunglasses, bags, formal and casual shoes, sandals, flip flops, etc.), winter wear, night and loungewear, grooming products and innerwear.

Women: For women, they have an excellent and alluring range of products, such as ethnic, fusion, and western wear clothing, jewelry, footwear, and accessories(including heels, boots, casual and formal shoes, sandals, flip-flops, belts, sunglasses, watches, stoles, etc.), winter wear, night and loungewear, beauty products, lingerie, etc.

Kids: For kids, AJIO offers products ranging from 0-14 years of boys and girls. It offers baby sets, boys’ and girls’ ethnic and western clothing, toys and baby care products, footwear and accessories, innerwear, and sleepwear.

Indie: Indie is a specific product category on AJIO; it offers beautiful handmade artisan products from all over India, such as handmade sarees, kurtas, footwear, jewelry, shawls & stoles, bags, bedsheets, cushion covers, curtains, etc. Customers can buy regional handmade products such as Kutch embroidery, Ajrak, Ikkat, Banarasi, Kalamkari, chanderi, and a lot more variety.

Home & Kitchen: There is a wide range of home and kitchen products available on AJIO. Bed linen, cushions and pillows, rugs, carpets and mats, curtains and mats, all kinds of cookware, dining sets, stationary and organizers, home decor items, festive gifts products, gardening & planters, and bathing essentials.

Thus as a seller on Ajio, you can also select and sell products from these categories on this eCommerce platform. Now, let’s quickly know the first step you need to take to become an AJIO seller.

The Process to Become an AJIO Seller

A single portal is available for seller registration from Reliance’s end that offers the registration for AJIO, Reliance digital, and Jiomart. To register as an AJIO seller, you must complete the registration process carefully. This platform is very particular about who they are onboarding as a seller. For the registration process, you need to follow these steps.

  • First, you need to visit the seller registration portal of AJIO and fill out the registration form by providing all the essential information.
  • You need to provide the details as per their requirements. It includes your registered office address as well.
  • You must provide several documents such as a PAN card, Aadhar card, current bank account details, GST details, etc.

    After providing all the essential information, AJIO offers you to select product categories that you want to sell on this platform.

Further Steps After the Registration Process

  • AJIO will send you an OTP on your registered number regarding your form submission.
  • After the form submission, you will receive a request code number.
  • You may have to wait more than seven days to get clarity on your registration application.
  • You can check the status of your application on the portal and submit your PAN card number and the code you received during this time.
  • After a wait of a few days, you can receive the details of payment terms from AJIO.

Ajio can charge you a commission between 20%-40% based on the product category you have chosen to sell.

Required Documents for AJIO Registration

  • PAN Card
  • Aadhar Card
  • MSME certificate
  • Bank account details along with a canceled cheque.
  • Logo if you have any.
  • GST Details
  • CIN and TIN certificate (If own a private company)
  • Trademark certificate

AJIO supports B2B and Dropshipping both business models, and you can choose any of these two to start your eCommerce journey with this platform.

Essential Steps to Become an AJIO Seller

  • Always try to sell high-demand and trending products.
  • Keep an eye on your inventory to miss out on a chance to increase your sales. In this regard, you can get along with any available inventory management software such as eVanik OWS.
  • Offer high-quality products to your customers to escape the situation of escape.
  • List your products adequately on AJIO by including high-quality images, product descriptions, product titles, etc.
  • Get along with integrated accounting software to manage your finances smartly and effectively.
  • To manage your orders efficiently and please your customers, you must take the help of a powerful eCommerce management software such as eVanik OWS.

Conclusion

Thus, this is all about the AJIO; if you want to sell your products on this emerging eCommerce channel, you can follow the above-mentioned steps to register yourself as an AJIO seller. However, if you think it’s an easy task to be a seller on Ajio, hold on to your horses. It requires more qualities than just filling out the application form. In this regard, some additional steps can help you immensely, such as having an MSME (Ministry of Micro, Small and medium enterprises) certificate and a logo of your own to represent yourself as a distinct brand. Apart from this, a trademark can also help you get onboard with AJIO. Once you get registered as a seller on this platform, you have to make your strong presence to become successful and generate decent revenue. In this regard, you can take the help of eCommerce management software such as eVanik OWS. It can help you manage your back office operations accurately and effectively.

Why is Automated Return Reconciliation a Major Requirement for Online Sellers?

Why is Automated Return Reconciliation a Major Requirement for Online Sellers?

In the eCommerce industry, along with the various benefits, sellers mostly have to face the issues related to returns as well. It is one of the major pain areas for online sellers as it is threatening their overall conversion rate. In the current scenario, almost every seller on multiple marketplaces faces the return issue of their products. At this point, as an online seller, you can feel the need for an automated return reconciliation system.

In this manner, implementing automated reconciliation software can help you efficiently. If we talk about the stats, the returns rate has increased up to 35% in the past few years. In the year 2021, customers have returned products worth 445 billion dollars worldwide. It is bizarre, and you as a seller must be able to handle these issues.

To minimize the return rate, you can take advantage of eCommerce reconciliation software such as eVanik OWS. Their return module is highly efficient to centrally managing Courier Returns and Customer Returns effectively, ensuring smooth and quick turnaround time.

In this blog, we have covered why an automated return reconciliation is required for online sellers. Along with this, you will also get to know other aspects of this essential eCommerce component.

An Elaboration of Returns Reconciliation

Return reconciliation is a significant eCommerce process through which a seller confirms that they have received the returned orders from customers either through courier returns or customer returns. Now the thing is, if you are an average seller and want to avoid miscalculations in this process, you should adopt an automated return reconciliation software. If your monthly eCommerce order quantity is more than a thousand, then miscalculations are more likely to increase.

As an eCommerce seller, you must be able to track down the exact number of all the returned products you have received from eCommerce platforms and those on their way to the warehouse. You can not do this manually as the number is high. By any chance, if you are doing this, it involves sure chances of miscalculations. On the other hand, automated return reconciliation software can help you provide you with all the essential information regarding this. You can easily trace all the returned orders and certify if deductions applied by marketplaces are reasonable or not.

Types of eCommerce Returns

In the eCommerce business, there are three significant types of returns that you must know about being a seller.

Courier Return: When the orders get returned by your courier partner due to the customer’s unavailability is called courier return. It can happen if the customer is not available to receive the order, if the courier partner finds the door locked and if he cannot contact the customer. In this scenario, the order can get returned to the primary source.

Customer Return: When a product fails to satisfy the customers in terms of quality, color, size, style, and design, they simply initiate a return. Return rates are high in selling online clothes, and customers can usually return the product if it doesn’t conquer the level of their expectations.

Canceled Order Return: It mostly happens when a customer cancels a placed order. If they cancel it immediately after placing the order, it can be a relief for you, but if they cancel the order after shipping, it can be a huge pain for you.

What are the Benefits of an Automated Return Reconciliation Software?

Enhance the Customer Relationship

Automated reconciliation provides a deep insight into the entire order fulfillment process. You can get to know the main reason behind the return if it is related to the product’s quality or the marketplace’s service. It can help you rectify all these issues effectively and provide you with an immense chance to resolve the issues related to every return. Once you can rectify the issue and compensate your customers, it can help you develop a good relationship with your customers.

Clarity on Reverse Logistics

Reverse logistics are conducted after a product’s sale to recapture the value and end the product’s entire life cycle. Typically, it involves returning a product to the manufacturer or distributors. Return reconciliation keeps an entire record of the order lifecycle from dispatch to return. Now, if you do this process manually, there is the possibility that you won’t be able to rectify whether the return is because of the manufacturer’s fault or your fault. However, automated software provides you the advantage of saving you from paying the extra money on those products that are unsuitable for resale.

Helps to Relocate your Products

Have you ever thought about what you will do if you don’t receive a returned order? Well, you will get no profit, and it can impact your conversion rate drastically. There is the possibility of an accidental or prudent case of product damage and theft. Without an automated return reconciliation system, you won’t be able to locate your items. Receiving your product’s entire lifecycle can make it easier to relocate a returned product.

Hence, you can get along with return reconciliation software such as eVanik OWS to automate this process. It can help you analyze all types of returns by automating the entire return process. It can also minimize the time taken to process online returns and provide your returns reports as well.

Conclusion

If you are not new to this industry, you may face several challenges in the process of return and must be aware that it is not at all good for your eCommerce business. If you want to upgrade your conversion rate, you must get automated return reconciliation software such as eVanik OWS to minimize returns-related issues. Apart from that, you must implement several ways to help you diminish the return rate.

It will be best if you focus more on product quality and presentation. As a seller, it should be your responsibility never to disappoint your customers at any cost. If your manufacturers are making mistakes, you must be aware and stop buying products from them. Always try to buy products from a reliable manufacturer only.

Time is the money, so as much as time you will save in delivering a product without any mistakes as much as revenue you can generate. If returns are your daily issue, then it is undoubtedly a matter of worry because, in such a way, you won’t be able to expand your business. So it will be best if you get along with automated software and try to delight your customers by meeting their requirements and expectations on time.

Prominent Leading Startups Who Overcome the Obstacles of Early Stage Business!

Prominent Leading Startups Who Overcome the Obstacles of Early Stage Business!

Every Business has its own journey; if it is a startup, one can go through several engagements, conversion, and retention challenges. However, various companies have started their businesses as startups and now have become leading startups. If you see their pathway, you may find it much more resilient to accomplish your business goals. Specifically, in the eCommerce industry, every business model whether it is B2C, B2B, C2C, or D2C, faces daily challenges such as winning the trust of customers, stock management, accounting management, etc. These are several aspects of the eCommerce business that can put you in a difficult position.

However, these problems can be resolved with the help of an automated powerful eCommerce management software such as eVanik OWS. It can help you in resolving these fundamental obstacles of your eCommerce business. In this blog, you will learn about several prominent eCommerce ventures that have started their journey as a startup but have beautifully resolved all the obstacles coming their way and made their strong presence in the market. Here you will also get to know the challenges you may face as a startup company.

Major Challenges as an eCommerce Startup

Talking about the stats, there are more than 150 million startups in the world today. If we talk about India, on average, 10 to 15 new startups are emerging every day. However, it is not about the rising numbers, it is about the survival in this industry. So it doesn’t matter how you have started your business and how much you have invested in it; it can only survive when you have the capabilities to overcome the challenges and obstacles efficiently. Let’s quickly check out the challenges that may come your way to success.

Intense Competition

The eCommerce industry is quite fierce and competitive. You are not the only one trying to make your presence here. Some other giants are already there that have a solid customer base and credibility in the market. There are various options for customers already existing in the market; why would they make a purchase from a new business? They will not visit you until or unless you are not offering a promising product to them. So, in such a scenario, along with introducing a new, unique, robust product, you also need to study the strategies of your competitors closely.

The competitive environment of the eCommerce market keeps the startups on their toes, as there is no margin of error available. That is why startups need to play their game strategically. To gain the much-needed recognition, you may have to take the help of the best eCommerce management software such as eVanik OWS. It provides you with backend support that can make your operations effortless and saves your time so that you can focus more on your competitors and mark your own presence in the market.

Financial Management

Financial management is an essential aspect of any business. You must understand the fact that when a business expands, it becomes more critical to manage your finances accurately. If you don’t know the steps of your cash flow, you won’t be able to make enough revenue. Establishing a secure payment system, efficient bookkeeping, and integration with various marketplaces. In order to compete in this industry, you need to be cautious about managing your finances and should take the help of any robust accounting software for eCommerce such as eVanik OWS. It offers seamless accounting integrations with various accounting and financial ERPs such as Tally, Zoho Books, and others

Customer Satisfaction

Whether it is eCommerce or any other business customers mean everything, that is why it is imperative to provide them the best service. Always remember that “customer is the king” winning the trust of your customers is the essential part of any business. Customer satisfaction is the vital challenge that businesses in general and startups, in particular, are facing today.

If you want to make your online business successful, you have to make a robust customer base. Offer them excellent products and a delightful shopping experience. If you compromise on any of these aspects then you must be aware that the customers are smarter than you, and you should be prepared to lose the customer. Ignoring customer satisfaction is definitely a ‘NO’ to mark your recognition.

Some of the Most Astonishing Leading Startups

Myntra

Myntra has become a frequent shopping destination for customers all over India. It’s majorly known as the fashion eCommerce website. It was founded by Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena in 2007. The head office of Myntra is situated in Bengaluru. With a vast customer base, it has become one of the prominent eCommerce websites for sellers to sell their products. Today, who doesn’t know about Myntra, but the success they have achieved doesn’t happen overnight. They have worked hard with an intelligent strategy and with the help of advanced software. Their journey is undoubtedly phenomenal.

But if we talk about their challenges, initially, sellers have faced many challenges in managing their inventory on this platform. Because they were new to this industry, they didn’t know much about stock management. For instance, any new startup can face this situation, but today as a startup, you have the option to use any powerful inventory management software available in the market. It can provide you with all the information regarding your stocks, whether how many products are in your stock and how many you need to refill.

The Body Shop

The compelling Journey of The Body Shop is such an inspiration for every new startup. Today it is one of the leading cosmetic brands in the world. It is a British cosmetics, skincare, and perfume company founded by Anita Roddick in 1976. The Body Shop took time to make its market presence, but it has achieved the customers’ trust and is known for its excellent products.

It is serviceable in approximately three thousand locations all over the world. They have slowly improved their conversion rates by analyzing customers’ behavior on the website. Apart from that, during the establishment period, this company faced significant challenges in creating its market presence among its biggest competitors, such as Loreal, Lush, Weleda, etc. So what they did was start producing chemical-free products and totally different from their competitors.

Chumbak

Chumbak is a prominent home decor and lifestyle brand in India. Vivek Prabhakar and Shubhra Chdda founded it in March 2010 to create fun and colorful Indian souvenirs. It has grown into a lifestyle brand with locations in Bengaluru, Mumbai, and Delhi. It has its flagship store in these locations as well. Customers can place an order from their website as well as from their stores. They always wanted to improve customer engagement as they scaled up their Business. They resolved their product discovery and conversion challenges and successfully increased their conversion by 14%.

But if we talk about their struggle, it has been really tough for them to attract customers towards their products in their initial period. They have launched entirely unique souvenir designs and slowly converted themselves into a lifestyle brand by offering footwear, bags, wallets, and other home decor products. It took time, but slowly they became successful in attracting customers with their designs and the bright colors they use for their products. Today this company sells approximately 38 categories of various products.

Conclusion

So these were some of the prominent leading startups that gradually evolved their Business on digital platforms. You can closely analyze their journey and then find some compelling strategies to apply to your Business. If you want to start your business on a smaller scale, you can mark your presence on several eCommerce websites as a seller and then slowly expand your Business to the next level.

This process requires a lot of focus, solid strategy, hard work, and automated eCommerce software to ease the several initial steps of your Business. If you want to start your journey as a seller, you can take advantage of some powerful eCommerce management tools such as eVanik OWS. It can help you with inventory, accounting, payments, returns, and shipping as well. It easily integrates with your system and automates these processes to minimize the various human errors.

Digital Mall and its’ Alluring Features: New Era of Shopping is on the Way!

Digital Mall and its’ Alluring Features: New Era of Shopping is on the Way!

How frequently do you visit any physical mall? Maybe once or twice a month or even less, right? Well, this answer could be relevant to many of you because most of us do our shopping on weekends and it is impossible to go shopping every weekend due to any circumstances specially post pandemic. That is why most of us prefer to shop online. Every little thing, whether it is groceries, vegetables, medicines, clothes, beauty products, etc. we are all dependent on online marketplaces from the safety and convenience point.

Regarding the digitalization of the retail sector and the particular changes in customers’ demand, the Indian market is going ahead with expanding its shopping mall into digital omnichannel platforms. Customers can shop online for any significant product from their favorite shopping centers in the coming months. For example, if customers are prone to shop their apparel from a Lifestyle store, a digital mall provides them the liberty to buy their favorite products here by sitting in their comfort zone. Isn’t it amazing? In the coming days, they do not need to physically appear at any mall to do their physical shopping. In this particular blog, you can know more about digital malls and their exciting features.

What is a Digital Mall?

The name has it all, and the digital mall is a virtual version of a brick-and-mortar shopping mall. It will have its app and website with each product category that is available physically inside a mall. Customers can visit those websites and place their orders by making an online payment. The best part of Digital malls is that customers can get orders within a few hours. Online malls are designed in a format of online product search, which can help customers order the products through multiple channels. With the help of an app and the website of the store, customers can analyze whether the product they want is available or not. If the product is available, the consumer can place the order and pick it up from the mall itself in no time.

This entire process has become possible because of a direct data link between the mall and the inventory management of the stores. Through high-speed electronic technology, Digital malls can receive information about the available products in stock and then update their apps and websites accordingly. Sellers can move their business to this model and can generate revenue in the minimum period. While adopting this business model, sellers can take the help of some bulk order processing software such as eVanik OWS. It can help you with order processing in an automatic manner.

Some Alluring Features of a Digital Mall

In the digital industry, if a significant thing doesn’t contain any appealing features to attract customers, it can not survive. So if we are talking about the upcoming shopping era of Digital Mall, it must have some excellent features. Here in the following points, we are going to mention some of the quintessential features of Digital Mall.

Advantages of Video Shopping

We can say that digital malls will be the extended version of eCommerce platforms. Here customers will not only be able to view the images of the products, but they have the liberty of video shopping as well. They can sit back at home and purchase the products via video calling. Consumers can call the sales executives and check out the products on the live video and clarify their doubts if they have any. This feature is not only beneficial for customers but for sellers as well. They can now closely represent their products to their customers and elaborate on every little detail of the significant product.

Hyperlocal Fulfillment Facility

It is one of the best features of a Digital mall; unlike any other eCommerce platform, now customers do not have to wait a long time to deliver their orders. Digital malls offer same-day delivery right after a customer places their order. If a customer is staying within a radius of 10km from the mall, they can get their orders in a few hours only. Digital malls provide the shortest wait time to their valuable customers. As a digital mall seller, you need some trusted courier agents who can successfully pick up the products from you and then deliver them directly to the customers’ addresses.

Click and Collect

The digital mall allows placing an order through the app or website and then collecting it from the mall. Well, some stores like Shopper Stop, Lifestyle, Home Town, Home centers, etc. are already providing this service to their customers. But we can say that it is not popular among most the customers. Once the Digital mall is functional, customers can leverage this service. On the other hand, sellers can save a lot of money because of this service as they do not have to pay the courier partners.

Store Returns

Well, digital malls have specific features for their customers as well as for their sellers also. This may not be a good feature for customers, but it is definitely a tremendous one for sellers. Unlike a traditional eCommerce store, it can save you from investing your money on reverse logistics to pick up a returned item from customers’ doors. If a customer wants to return a product, they have to visit the store. There is no pickup facility for returned items. As a seller, you can instantly grab the returned item and showcase them again for the next sale.

Why it is a Great Business Model for Online Sellers

Analyzing Customers’ Behavior

As a seller, if you want to establish your store at a digital mall, then it is essential to analyze your customers’ shopping behavior. The digital mall provides insights that can be highly beneficial for your business. You can optimize your inventory and generate enough sales based on customers’ past shopping behavior. However, for this, you need to take the help of any inventory management software such eVanik OWS. it can help you in attaining real-time updates. You can ask the digital mall to provide you with the data of your customers.

Offer Loyalty Programs

You can preserve your customers for a longer time as a seller by implementing loyalty programs. You can offer to use the loyalty points to your customers for their next purchase. You can also introduce newsletters to inform the customers about your latest collections and offers. It can help them to get familiar with the latest trends.

Hassle-Free Payment Management

Payments have always been a critical part of any online business. But here at the digital mall business model, you do not need to worry about payments. You can accept payments through every possible method, whether it is debit or credit card, AMEX cards, UPI payments, wallets, and net banking as well. It can also benefit customers, as they have various payment options. If we are talking about the payments, we must also talk about the accounting part. To manage your finances, you can take the help of accounting software such as eVanik OWS.

Conclusion

Thus, digital malls can prove to be a new era of shopping. This business model is expanding rapidly outside India and will soon be on the rise in our country. In the current scenario,few malls and stores are working as digital malls as well. Every mall can offer this facility to their customers in the coming time. If you are planning to be a part of the digital mall, it can add a golden feather to your business. It has every possible facility that customers require these days. Thus, you can undoubtedly generate handsome revenue by adopting this model.

Latest eCommerce Trends of 2022 That Sellers Must Know!

Latest eCommerce Trends of 2022 That Sellers Must Know!

It is 2022, the era of new technologies, ideology, and efficiency. Along with all these, the eCommerce industry is also evolving, and you must consider the latest trends to help your business grow more quickly. If you are already an established player in the eCommerce industry, you must be aware that there are various disruptions in online business. That is why every seller should adapt to the latest market trends. There are a few new trends that you can see this year. It can prove to be a breakthrough year for eCommerce businesses.

Today technology is considered the backbone of the eCommerce industry. The latest software, AI-based technologies, and Speedy delivery are three major requirements of upcoming eCommerce trends. These are essential to provide a hassle-free shopping experience to the customers. In this blog, you will get to know some of the brand new trends in the eCommerce market in 2022. As a seller, you must look out for these trends and make selling your products on various eCommerce platforms easier. Let’s see what these trends that you should follow this year are.

Watch Out for These Latest eCommerce Business Trends of 2022

Origin of New Marketplaces

The eCommerce industry is currently dominated by several giant marketplaces such as Amazon, Flipkart, eBay, Myntra, etc. We are also experiencing the emergence of social commerce platforms such as Blinkit, Instamart, Big basket, Zepto, etc. Additionally, the number of D2C(Direct-to-consumer) marketplaces can also increase by the end of this year. It is predicted that the major B2B businesses are expected to grow by more than 65% in the coming years. Thus as a seller, you have immense opportunities to make most of these platforms to set up your own online business and generate decent revenue. If you are new to this industry, you might experience difficulties fulfilling your valuable customers’ demands. In this regard, you can take the advantage of any online order management software such as eVanik OWS.

Speedy Order Fulfillment

In the current scenario, customers want their order within the minimum time. As predicted this competitive market will grow more than ever in 2022 as more and more sellers can get aboard. It can develop a quick delivery format among them to please their customers as soon as possible. Specifically, customers who buy their products from prominent eCommerce platforms such as Amazon, Myntra, and Flipkart expected a shorter delivery time. The requirement for hyperlocal fulfillment is also increasing these days. To establish your online business in such a trend, you will require the help of any eCommerce order management software such as eVanik OWS. It can accelerate the entire order fulfillment process by providing automation. Thus, it can become easier for you to deliver the order in the shortest time at the customer’s doorstep.

Requirement for Inventory Management Software

With the expanding growth of the eCommerce industry, customer demands have also been increasing with each passing day. To fulfill their demands on time, as a seller, you need to keep a check on your inventory. Your stock should always be up to date, never to give your valuable customers the experience of Oos(out of stock). In this regard, inventory management software such as eVanik OWS is the essential requirement for this hour. It provides real-time updates of your inventory across channels and protects you from the horrible situation of Out of stock. Accurate inventory information can diminish all the difficulties of the order fulfillment process. You must know how much inventory is available and how much you need to refill. A poor inventory management system can lead you to a failed business.

Multi-Channel Selling System

As you already know, many eCommerce website platforms will emerge this year. Customers are already making their purchases from various eCommerce platforms. So as a seller, it has become the priority to sell your products on multiple channels to reach your targeted customers from various regions of India. If you pick only one eCommerce platform, such as Amazon, to sell your products, you will miss out on those customers who prefer to shop from Flipkart or Myntra. Thus it is better to spread your wings and take advantage of multiple eCommerce platforms. However, it can become challenging for you to manage the orders from multiple channels. But do not worry because you can take the help of multichannel order management software to ease this issue. It can provide you with all the essential information regarding your orders under one single panel and make it a smooth process to fulfill your orders quickly and seamlessly.

Expansion of the D2C Business Model

This year, the world can see an increment towards the D2C(direct to consumer) business model on a larger scale. It is predicted that sellers and brands can switch their businesses to a D2C model and start handling manufacturing and distribution independently. However, in India, various D2C business models already exist and earn a lot. Sugar, Mamaearth, Boat, Beardo, etc., are some of the prominent D2C business companies in India that are quite popular among customers. This model provides straightforward access to serve your customers accurately. It also provides you the liberty to make your brand and mark your presence in this competitive market. It also allows you to connect with more customers.

Conclusion

Hence, the points mentioned above are the latest upcoming eCommerce trends for 2022. Keeping all these factors in mind can help you make more of this industry. Always keep in mind that this particular industry is based on the requirement of customers, and if you want to attain rapid success in your online business, you need to evolve with time. To meet the demands and latest trends, you must be up to date and always keep an eye on the above factors. The eCommerce industry can help boost sales and revenue in 2022 if you follow the above trends. If you find it challenging to follow, you can take the help of order management software to automate the order fulfillment process. It can help you with speedy delivery and provide the ultimate customer experience. You also have to adapt completely to profit from these latest eCommerce trends. So, being an online seller, you should go with the flow to make your eCommerce business a successful affair.

Essential Steps and Benefits of Selling Furniture on Online Marketplaces!

Essential Steps and Benefits of Selling Furniture on Online Marketplaces!

Apart from other essential items these days, furniture and home decor items are also getting sold online. Online furniture selling is an enormous rise in the furniture industry. Wooden partitions, flooring, wooden sofa, and acrylic can help make your place more comfortable, personal, and beautiful. New era furniture makes the home a lot more valuable and worthy. The requirement for a cozy and pleasant place to relax has upsurged the credibility of selling online furniture.

It is undoubtedly quite different from other product categories but in demand and will always remain. Furniture with comfort and beauty is essential in terms of implementing the interior design at home. Latest interior design trends suggest that a touch of antiquity can add splendor and attraction to a house that is otherwise full of modern innovations. However, home decor was not in the frame a few years ago, but today, people are more fond of elegant furniture and eye-soothing home decor items. Especially, customers prefer to make their living area more pleasant and luxurious.

Every significant eCommerce marketplace, such as Amazon, Flipkart, and Myntra, has a category of furniture and home decor. If you are interested in selling such items, you can also display them in your online store. You can use the marketplaces to display your products and contact more and more customers to upsurge your sales. In this blog, you will learn the benefits of selling furniture on eCommerce platforms.

Advantages of Selling Furniture on an Online Marketplace

Believe it or not but having an online furniture store can be a profitable affair for you. You can generate more revenue in comparison to selling other product categories on eCommerce platforms. Here we are going to mention a few advantages of selling furniture online.

  • Make your Presence in the Indian Market

The enormous eCommerce industry attracts customers to buy almost everything from an online store. Now, if you have decided to sell furniture on eCommerce platforms, you must know that it can help you attract numerous customers daily. Selling furniture via a physical store requires more space to showcase your products. But on the other hand, in online business, you do not require an ample space; you just need to click high-resolution images and list them on marketplaces. Even though furniture stores appear small because of their incapacity to exhibit and provide their items to a wide range of customers, an online furniture store can scale up your business. It provides your business the exposure you require to make a market presence. Selling furniture items on an online platform can make you more popular than ever.

  • Low Maintenance Cost

Selling online furniture can serve thousands of customers with unlimited resources. Virtual customers require no help from a store manager. It can become more helpful if you use dropshipping. While on eCommerce platforms, you can save money to own ample storage space and manpower. Online platforms keep you away from such requisites; you must implement the product listing appropriately and always keep an eye on your inventory. To manage your inventory properly, you can take the help of some inventory management software such as eVanik OWS. It can provide you with real-time information about your stocks. It won’t let you face the out-of-stock situation.

  • Chance to Serve your Customers 24×7

Selling furniture via an online market provides you an immense chance to serve your valuable customers 24×7. You can resolve their queries seven days a week, and ultimately it can help you attract more customers. If you are a physical store seller, it can not be possible to serve your customers 24×7. However, eCommerce businesses have that liberty, which can also help build a strong market presence.

Vital Steps to Set Up Your Online Store

  • Find a Reliable Supplier

To sell furniture on marketplaces, it is not necessary to produce them. Instead of producing them, you can purchase them from a reliable source. It makes no such effect on your business whether you buy it from a second party or produce them on your own. There have been various ways of selling home furniture and decor items on eCommerce platforms. It will be best if you start exploring reliable wholesalers or suppliers to purchase furniture in bulk. To sell them, you can also use the drop shipping process, but if you are not doing so, then you need to keep the products at a warehouse. Being in the furniture business, you can not keep the products in your home; it requires ample storage space to store them.

  • Set Up Your Online Store

Once you find a reliable supplier, you need to set up your store on online marketplaces. You can sell furniture on Amazon, Flipkart, eBay, etc.; making money from these websites is much easier. On the other hand, you can choose the D2C model as well, in which you have to set up your website and sell your products as per your choice. However, it is advisable to sell furniture on eCommerce channels because it provides tremendous benefits and saves you money and time. Suppose if you sell furniture on Amazon, you can take their FBA service. In such a way, Amazon will handle the shipping, storage, and delivery parts; you just need to buy products and add them on Amazon.

  • Go with the Flow

Mark your presence in this competitive market; you need to go with the market trend. The furniture industry is more competitive than you believe. To attract more customers, you must sell the latest products with the latest designs. To attract customers, you should list in-demand products with higher quality and design. You should sell your products on eCommerce platforms that are available to fetch a large amount of data. Along with it, to delight your customers, you need to always take care of your inventory and logistics.

Conclusion

Hope this article provides relevant information on all you need to know about establishing and running up an online furniture store. In the massive furniture industry, making your presence can be a challenging task to do. But no one can stop you if you are dedicated to opening your online store and selling them on several marketplaces. It requires a sharp mind, reliable sources, and a compelling eCommerce platform. You are ready to sell furniture online if you have all these. However, every online eCommerce business requires a few things, such as inventory management, account management, shipping, and returns. These aspects should always be clear and sorted. If you are lacking here, you might not be able to deliver the products on time, which can affect your business. To resolve such issues, you can take the help of order management software such as eVanik OWS. It can help you with all these factors and provide a backbone to your online business.

Financial Management Tips for eCommerce Business!

Financial Management Tips for eCommerce Business!

The eCommerce industry is absolutely a compelling business that is attracting a lot of new entrepreneurs on a daily basis. This evolving industry has provided immense opportunities to make people self-reliant. But managing your online business is not as easy as you think. If you are the one who is looking for an eCommerce startup, one of the essential aspects of managing your online business is to have a robust financial management system. Establishing your online store requires several strategies and a focus on accurately setting up every aspect of your business.

Along with considering inventory and shipping as crucial aspects, you must know how to handle your finances. After all, you will sell products on any eCommerce platform to generate revenue. To make a smooth flow of revenue generation, you require the best accounting software for your eCommerce business. Dedicated accounting software such as eVanik OWS can help you immensely with managing your finances adequately.

It can become more requisite when you plan to sell your products PAN India. In such a scenario, you have to track the taxes of every state, and it can be time-consuming. In this blog, we have mentioned some financial management tips that will help you as an eCommerce entrepreneur.

  • Register Your Business Legally

The first step you should take before managing your finances is to register yourself as a seller on various eCommerce platforms legally. To become an authorized seller, it is necessary to legalize your business. It is also an essential step because potential customers and manufacturers can check the authenticity of your business. Additionally, most banks in India will not let you open a corporate bank account without accurate business registration documents. Moreover, without proper registration, you won’t be able to sell your products on platforms like Amazon, Flipkart, Myntra, etc.

  • Open a Business Bank Account

Once you have established your business, the next step you should take in managing your finances is to open a dedicated business account. You should get one before you start earning income or spending money on other business-related aspects. So it is essential to segregate all your business flows from your personal finances.

It can become much easier for you to accurately handle your finances and taxes. It is also a legal requirement to have a separate business account. However, an individual seller may not legally require a business account. It is still advisable to get one as it can put you on the right path to managing your transactions properly. It is imperative during the tax filing season.

Establish a Secure Payment System

In the process of establishing your online business, it is crucial to set up a secure payment system. It is essential to ensure a great shopping experience for your customers. Before stepping into the eCommerce business, you must set up a streamlined payment process. It can help you in diminishing the cart abandonment rate as well. According to research, most customers abandon the cart after analyzing the insecure payment method.

You need to ensure the customers that their personal details are secure with you. You must consider offering various payment options to your customers, such as credit card, debit card, UPI, cash on delivery, etc. Payment gateways such as CCAvenue, PayUBiz India, and Razorpay keep the payment processing secure.

  • Initiate Efficient Bookkeeping

    It doesn’t matter how efficient and fast you are at doing the calculations manually for your eCommerce business. At last, we all are human and prone to making mistakes. To minimize the errors in keeping records of all your financial transactions, payment receipts, and other transactions, you need to maintain efficiency in bookkeeping. Efficient bookkeeping can help save you enough time when it comes to accounting. To execute this process effectively, you must consider integrated payment processing.

To maintain efficiency in bookkeeping, you can take the help of the best accounting software for eCommerce, such as eVanik OWS. It can help you screen several errors from the informational categories to maintain overall efficiency. To manage your finances in a proper manner, you need to maintain the cash flow and provide accurate bills to your customer.

Software like eVanik also helps to automate the invoicing as well. You can also send follow-up reminders, create recurring invoices, and accept digital payments directly from the invoices. It provides transparency that can let you make other decisions related to finances at any time and keeps you 100% GST compliant as with accurate records, filing GST on time becomes a cakewalk. In this way, you will have no requirement for consulting multiple accountants. It can even help you understand your customers’ spending habits.

  • Integration with Various eCommerce Platforms

To grow as an eCommerce entrepreneur, you need to sell your products on various eCommerce platforms. It means your financial task will increase, and managing the finances of various marketplaces will not be easy to handle. At this point, you require software for eCommerce that can integrate easily with various platforms and manage your back-office operations.

Manual entry of transactions and other expenses can include significant errors that can be time-consuming as well. On the other hand, accounting software can smoothly integrate multiple channels and provide systematic financial pieces of information. If you enter the eCommerce industry as a seller, you must consider the importance of such software to manage your finances without any hustle.

Conclusion

So these are several tips that you must adopt as an eCommerce entrepreneur. To manage your business’s financial flow, you must attain one robust accounting software. It can provide you quick overview of your income and other financial expenses. Eventually, it helps you with financial planning and fixes a budget for your eCommerce business. Accounting software facilitates you to analyze all your monetary data. In such a way, you will be able to streamline every aspect of eCommerce incredibly, such as inventory management and applying pricing strategies.

All these aspects can help you to stay competitive in the market. So, if you are willing to get along with accounting software to minimize the everyday stress, you must consider eVanik OWS. It can not only help you in managing the finances but also with the inventory, shipping, and returns. Apart from that, it has the remarkable features of tally prime integration, which you can use to file your GST smoothly. It also has the feature of Zoho book integration, Aligns books integration, and Quick books integration.

How Does Meesho and Other eCommerce Reselling Apps Work in India!

How Does Meesho and Other eCommerce Reselling Apps Work in India!

During the COVID-19 pandemic, life put us all on lockdown. According to research, more than 65% of customers still do not prefer to visit a brick-mortar store. This was when sellers and brands planned to sell online, and they adapted the eCommerce platforms and apps as their ammunition. During this period, India’s eCommerce business tendency is snowballing. Business minders come up with the idea of reselling the products, and this is easy to start and doesn’t even require a lot of money to invest.

Nowadays, resale has become a full-fledged business that can let you generate more revenue than a paycheck. You must wonder what exactly reselling is and how reselling apps work. In this blog, you will find how this eCommerce business model works, what reselling is, and how Meesho and other reselling apps work. Let’s go in and dig out all the required information about reselling and reselling apps.

Definition of Reseller and Reselling Apps

First of all, let’s focus on the reseller; well, a reseller is someone who purchases products in bulk from a manufacturer, wholesaler, or retailer and then sells those products to their own customers on a high-profit margin. Additionally, you have the opportunity to share the product catalog through Facebook, WhatsApp, Instagram, and social media with your customers. This form of business is also known as social commerce. There is a slight difference between seller and reseller, seller can not resell their products via any other medium other than an eCommerce platform.

This business model is quite popular in India because it doesn’t require a hefty investment. With the thriving popularity of reselling, reselling apps such as Meesho have entered the market to modify this business model. This social commerce platform has grown tremendously over the past few years. Reselling apps allow you to make the payment only after a customer confirms an order, in case you are buying reselling products from the social commerce platform or app only.

How Does Messho Work as a Social Commerce Platform?

Undoubtedly, no such introduction is required for the social commerce platform or reselling app Meesho. This platform has changed the entire picture of reselling. It has to provide unexpected exposure to the resellers and make it easier for them to sell their products and attain decent revenue. Payment transactions with Meesho are safe and speedy. It offers very low-cost refunds and delivery options as well. This reselling app has emerged as a trusted brand by more than 3 million resellers across India. The recent advertisement of Meeshos’ says “Chote Paise Badi Shopping,” which perfectly describes the app’s service to its customers.

It has provided tremendous opportunities for small businesses to come aboard and sell their products promptly. Without the requirement of heavy investment, you can start your own business today with Meesho. The tagline of this reselling app is “Not just a homemaker, but as a Meesho Entrepreneur.” Numerous homemakers have now connected with this app and run their businesses successfully.

What is the Operating Process of Meesho?

As you already know, Meesho is essentially social commerce and operates on a D2C (Direct-to-customer) eCommerce business model. As a reseller, you have the advantage of promoting your available products on your social media platforms, WhatsApp, etc. expanding the scope of selling your products. Products will be offered by a third-party manufacturer who is associated with Meesho. You can say that reselling with Meesho is an uncomplicated and compelling way to work from home and generate revenue.

Meesho charges a cost of commission of between 15%-20% on all items sold by the reseller. However, it charges significant penalties on product returns. This app has more than 700 employees and is focused on a market of over 15 million resellers. This social commerce brand claims to have a presence in over 800 locations.

To sell your products successfully with n on Meesho, you can take the help of eVanik OWS as a marketplace reconciliation software. It can help you analyze your rivals’ pricing strategy and let you grow immensely.

What are the Products you can Sell on Meesho?

Meesho has a diversified range of product categories. All products are inspected to check for quality purposes, and Meesho ensures that they are shipped responsibly. You may find resale items from Meesho as well. It facilitates you to sell a distinctive product range and expand your customer base. Following are Messho’s product categories from which you can select and sell.

  • Kitchenware products
  • Women’s Clothing
  • Men’s Clothing
  • Kids Clothing
  • Household Products
  • Home furnishing products
  • Beauty products

    Customers prefer to shop from this platform because all the products available are budget-friendly. This social commerce app’s future plan is to have approximately 100 million active customers and add more than 50 million products in its categories by the end of 2022.

Challenges you can Face While Selling on Meesho

Well, Resellers, advantages come with challenges. Thus, this app also has several business challenges you may experience while selling products on this platform. Let’s have a quick sneak peek into Meesho’s business challenges.

  • High Distribution Cost

The initial stage of Meesho began with the ethnic fashion category, targeting homemakers and women who were running their boutiques and reselling their products through social media applications. During the pandemic, the distribution costs have significantly impacted the financial aspect of this platform. Because customers prefer to buy face masks, sanitizers, personal care products, and groceries online. They have fewer opportunities to go out and attend any function. Thus the requirement for ethnic clothes and beauty products gets reduced. However, this app has now started to offer personal care products along with other above-mentioned product categories.

  • Poor Product Quality

Most customers reported that the product they purchased from Meesho was of poor quality. It can be the reason that this app has still not made its way to reach out to urban customers. Indeed this app is famous in small cities but has to sell quality-based products to reach urban customers. As a reseller, if you buy products directly from Meesho there are chances you may end up selling poor-quality products to your customers.

  • Delay Delivery/Critical Customer Support

Another business challenge you can face on this app is the delay in delivery and poor customer support. Numerous customers have reported that their order gets delayed frequently. When orders get delayed, customers try to reach out to the support team to seek information about the status of their order. But unfortunately, in so many cases, Meeshos’ customer support team fails the customer. Only can only imagine the level of dissatisfaction experienced by such customers.

Thus, if you want to sell through the Meesho app, you may occasionally have to face such challenges. On the other hand, you can still upsurge your revenue by enhancing the listing quality of your products on Meesho.

Other Reselling Apps in India

  • Shop 101

This reselling app represents itself as the number one reselling app in India. It has diversified product categories from clothing to home decor, kitchen, beauty, electronics, etc. They have approximately 50 lakh four-star rated resellers.

  • OLX

You must be aware of this app; it is pretty old in the social commerce business model. This user-friendly reselling app works exactly as an advertisement does in a newspaper. One can resale and buy furniture, household items, cars, electronic appliances, etc., from OLX. It provides a unique chat box function that helps you connect with customers directly.

  • eBay

eBay is another most popular app in India and worldwide. You can buy and sell products through eBay from any location in the world. You can sell almost everything on this platform, such as clothing, vehicles, cosmetics, jewelry, and electronics. This app has over ten thousand downloads on Google play.

Conclusion

The vast eCommerce market has diversified opportunities for you to start your own business. It can make you self-reliant and increase your confidence to live the life you want. Reselling business model is getting adopted by thousands of people every day. You can also grab this opportunity and start selling through above mentioned social commerce platforms. However, whether it is a small or a big business everyone should have a track of their finances. In this regard, you can take the help of the payment reconciliation service of eVanik OWS. It can help you with hassle-free payment proceedings and keep a record of your every transaction.

Best Practices of Seller Management to Outshine in eCommerce Business!

Best Practices of Seller Management to Outshine in eCommerce Business!

The acknowledgment of eCommerce marketplaces such as Amazon, Flipkart, Myntra, eBay, Ajio, Meesho, Shopify, etc. has continued to flourish with every passing year. The popularity of online marketplaces has accelerated after the COVID-19 pandemic. Customers prefer online shopping instead of stepping out of their house to a physical store. It is safe as well as convenient for customers from many aspects. While marketplaces provide the infrastructure for sellers to start their online business, sellers still require robust management and refinement to upgrade pricing, inventories, products, and fulfillment process.

Moreover, most successful sellers operate on multiple eCommerce platforms, selling products across states, which adds layers of complexities around taxes. Nowadays, customers want an effortless shopping experience. However, there is software for online sellers, such as eVanik OWS, that helps deliver a positive shopping experience to your customers by streamlining the back-office operations. In this blog, we have mentioned best practices for eCommerce marketplaces that sellers need to attain and implement successfully. Let’s find out why those practices are essential for an online seller. Apart from that, you will learn why seller management should be considered an essential factor in the eCommerce business.

Major Issues Faced by Sellers

Before jumping into the solutions or practices that can help sellers manage their online business accurately and efficiently, it is essential to know about the frequent issues faced by sellers.

Meager Product Catalogue Management

Numerous eCommerce sellers used to be physical store owners or wholesalers. Those who fall in this category don’t have prior experience in selling their products online. It is the fear of losing their business to eCommerce platforms that are driving them towards online selling. Since they don’t have any experience operating online businesses, they lack in creating and managing product catalogs. It can put them into a difficult position. They usually fail to list their products accurately on multiple platforms. The missing attribute of catalog management affects their rankings and increases the return rates, as customers fail to attain essential information about their products.

Frequent Interference of Brands

In the competition of selling more and more products daily, some desperate sellers are misleading eCommerce platforms to upsurge their rankings by listing fake details on products or using other attributes. In such a scenario, it has become challenging for genuine sellers to survive, as brands also question their loyalty. All these severe problems are affecting sellers extensively, and eCommerce marketplaces need to be vigilant and offer compelling solutions to sellers. However, some channels are already providing such solutions to them. If you are facing such issues, you need to move your business to platforms that help sellers resolve such problems.

Complicated Onboarding Process

Several eCommerce platforms have a complicated onboarding process, which can be the one major reason sellers have a tough time attaining success on an eCommerce platform. This issue can be resolved only when marketplaces take the initiative by making the onboarding process hassle-free. By improving the seller onboarding process, eCommerce ventures can make their sellers more comfortable.

Why Seller Management is Essential for eCommerce Sellers

To sell products on various eCommerce platforms, sellers must manage their business adequately. To provide an outstanding shopping experience to your customers, you need to manage inventories, payments, shipping, and returns in a compelling way. Without managing these aspects of your online business, you won’t be able to run your eCommerce business successfully. Poor seller management can disappoint your customers on various levels and ultimately push you towards a failed business. In this regard, you can take the advantage of any best eCommerce management software such as eVanik OWS. It can also help you manage inventory, payments, shipping, and returns by providing you with essential real-time data.

Best Seller Management Practices to Follow in 2022

Execute Onboarding Process Accurately

As a seller, if you genuinely want to grow your business and provide an efficient customer shopping experience, you must attain enough knowledge about onboarding on a specific eComm channel. To make it a hassle-free process, you need to gather all the essential information from the marketplaces and execute it accordingly. Before onboarding on any eComm platform, you must understand their selling process and sellers’ margins. Apart from that, you also need to know their guidelines for sellers. Onboarding on as many channels can upsurge your chances of making a solid customer base and helps you in generating revenue. Educate yourself enough to know all the tactics of eCommerce platforms.

Educate Yourself to Manage the Returns

Education never goes in vain, and it is essential for every aspect of life. It can become more critical when you are out there to earn your bread and butter. If you are an eCommerce seller, then you need to know each and everything about this business or get experts in your team to handle this. Order returns are one major pain area for eCommerce sellers and platforms. According to research, more than 60% of eCommerce returns are due to the mistakes of sellers and retailers. As soon as you get educated regarding the returns, the chances of returns will diminish automatically. In such a manner, you can also come along with some return reconciliation software like eVanik OWS. It can help you in managing your returns effectively.

Try Hard to Win the Buy Box Button

While operating an online business, your focus should be on winning the buy box button on various marketplaces. However, reaching the buy box button is not that easy when there is vast competition. To win the buy box, you have to follow several guidelines of marketplaces where you are selling your products. These guidelines include accurate listing, adequate shipping, frequent customer communication, and a tremendous shopping experience. All these essential factors can help you to win the buy box section. You can also take the help of the best eCommerce management software such as eVanik being used by many sellers already to automate the back-office operations. It can help you immensely in reaching the buy box button.

Conclusion

Thus these are some of the best practices you can make to sell your products hassle-free on various eCommerce platforms. Apart from these practices, as mentioned earlier, you should also include inventory management in this list. Managing inventories can also enhance your seller management. It can help you to serve your customers better and never disappoint them or let them face the situation of Oos (Out-of-stock). For outstanding inventory management, you can take the help of several inventory management software such as eVanik OWS.