In 2023, e-commerce sales accounted for over 20% of retail sales worldwide. This year, global eCommerce is expected to make up 22% of total retail sales, showcasing the growing dominance of online shopping. In light of this information, savvy e-commerce entrepreneurs go the extra mile to understand the psyche of online shoppers to increase conversion…
Shoppers visit e-commerce stores with uncertainty and doubts about the product they are buying. These doubts could stem from the fact that they’ve found similar items somewhere else, and they are not sure why yours is the ideal one for them. For others, it’s just the fear of the unknown. They don’t trust you, and…
Have you ever wondered how much money customers usually spend on a single purchase? That’s what we call the average order value. By analyzing AOV, you can find more opportunities to increase your revenue by encouraging customers to spend more per order. Yet, there are many dropshipping beginners who do not know how to increase…
E-commerce has been growing steadily in recent years, also boosted by the pandemic. Many brick-and-mortar stores migrated to online stores when they were unable to open their doors. And once the confinement had passed, some closed and others maintained both spaces. Shopify’s statistics give us an insight into its impact: But the real growth is…
In 2022, close to 60% of e-shoppers in the United States reported being unable to purchase products due to products being out-of-stock. A Shopify waitlist is a surefire way to capture customer interest and mitigate sales losses by ensuring that potential buyers are the first to know when products are back in stock. For product…
Discount codes attract new customers, encourage existing customers to try a new product and/or service, and generate new revenue. Discount codes are heavily utilized during holiday seasons, where online retailers entice consumers to spend more in the run-up to a big time of year, such as Thanks Giving through Black Friday sales. In fact, research…
According to Professor Clayton Christensen, a professor at Harvard Business School, 30,000 new consumer products are launched each year—and many fail. Therefore, pre-launching your items on Shopify requires careful planning to make it a resounding success. When you pre-launch your items, you’re changing the order process from selling items once they’ve been produced and/or purchased…
Approximately 40% of shoppers list coupons and discounts as the main reason for shopping online. This stat highlights the importance of offering discounts on your e-commerce store. In this article, we will delve into the essential techniques for seamlessly incorporating bundle and wholesale discounts into your Shopify store. Whether you’re looking to encourage bulk purchases…
Approximately 75% of customers research online before heading out to a physical store. Therefore, adding a store locator to Shopify is a helpful way to align your online store with your physical store and encourage customers to shop from both. This will improve customer retention, increase sales, and streamline your business. There are a couple…
With an average inventory accuracy of only 63%, U.S. retailers often misjudge stock levels by nearly 40%, leading to potential overstock or shortages. Preorders can streamline inventory management, ensuring products are available just when customers need them. Introducing a preorder model to your Shopify store is a sustainable business practice that has many benefits for…
