Consumers all around the world are slowly embracing the concept of online shopping. While online retailers have gained a solid foothold in American and British markets, some of them are now turning their attention to other parts of the globe.
Take eBay, for example. In 2012, eBay, one of the pioneers of the online marketplace, formed a strategic partnership with Snapdeal, an Indian online marketplace, effectively heralding its entry into Asia’s third largest economy.
From a strategic point of view, eBay’s move enables it to take advantage of the booming online retail industry in the country. Experts are projecting that profits from the sector will breach the £5bn mark by next year.
On top of these, there are several factors that favour eBay’s foray into the India market via a partnership with a local player. Chief of these is the steady increase in the country’s Internet users. On top of that, the costs associated with maintaining a physical store has increased over the past few years. But despite these advantages, there are several roadblocks to success. A major one is India’s infrastructure, which hampers the speedy delivery of purchased items from retailers to consumers.
An experienced Consulting partner
Whether you are eyeing the domestic market or a foreign market, when it comes to online retailing, it is worthwhile to have a partner experienced in supply chain logistics like BiS Henderson Consulting.
The online retail marketplace is constantly changing, influenced largely by changes in technology. Success hinges on adapting to these changes, be it in making the business’s website more user-friendly, offering a variety of transactional technology options, or finding reputable carriers that can deliver promptly. All of these can influence and create loyalty in customers, which can translate to repeat purchases and allow your business to create a stellar reputation via positive reviews from satisfied customers.
If you own a physical store and you want your business to establish an online presence, BiS Henderson Consulting can help you in this transition through various services.
These includes mapping the end-to-end customer journey, auditing of fulfilment offers, utilisation of click and collect models, cross border readiness assessment, evaluation of revenue from returned goods, optimising review returns and exchange management processes, mapping of cost to serve by channel, and identifying the tradeoff between stock and drop ship economics.
By leveraging Bis Henderson Consulting’s knowledge and experience in the online retail industry, you can easily avoid common pitfalls experienced by other businesses while enhancing your reputation as a new player.