Even amidst the inflation today, eCommerce continues to grow at rapid rates. In 2022, eCommerce hit more than $1 trillion for the first time in the US, with the last quarter totaling close to $350 billion. Forbes also reports that the key driver to the continued growth is mobile phone use – which grew twice the rate of desktop eCommerce many years ago.
Is it possible to remain profitable and grow your eCommerce business during a recession?
Simplify Through Software
Implementation of a single software solution like OPAL allows little to no manual input, allowing your team to process 95% of orders without ever touching the computer. This also reduces the cost of doing business by increasing your team’s efficiency, as well as reducing the cost of multiple software packages needed to manage order management, warehouse management and shipping processes.
Know Your Inventory
When consumer behaviors are difficult to predict, knowing how to manage inventory is critical to get ahead of shortages or excess pieces remaining that will not sell. A software solution helps to understand the analytics behind the peaks and valleys – is there a time of year that particular products sell faster, is there a color or style that sells much quicker? All things to consider when looking through reports for purchasing in months ahead.
Eliminate All Extra Expenses
One of the biggest perks to selecting a software solution is the ability to eliminate EDI. Today’s consumers require such quick shipping that it’s challenging to bundle orders and take advantage of efficiencies in shipping, but reducing the per piece transaction will add up over time and keep profits in your pocket. With OPAL, EDI is 100% included no matter how many orders you fill, allowing your team to focus on other areas of your business to make more efficient.
EDI | Order Management | Warehouse Management | Shipping
As your business looks to be proactive to better handle this ever-increasing inflation, OPAL is here to partner with you in your season of growth.
To learn more about how your eCommerce business can thrive this new year, click here!