The past few years have been challenging to say the least, but eCommerce continues to grow at a steady pace despite inflation and worries about consumers’ willingness to spend money.
In 2023, more than 265 million US consumers are estimated to shop online, which equals 2 percentage point increase in eCommerce market share. Growth is also expected to continue, reaching 23% by 2025, which translates to roughly 5 percentage point increase in only five years.
Another shift that occurred this last year was fashion overtook electronics as the top-performing eCommerce category. Electronics has been the most lucrative sector for online suppliers and retailers for years, but saw a 17% drop in sales in 2021.
As consumer preferences evolve in this economy, is your business ready to handle your current growth or use this time to prepare for busy seasons ahead?
Automation is Key
Increased efficiency through data collection and analysis is the critical part to most successful businesses today and automation most certainly simplifies processes to do so. It allows your business to utilize a software package to make the shift from manual steps to an autonomous process, which not only increases your capacity for additional and more accurate orders, but it may do so without hiring additional employees.
Accurately representing inventory across multiple sales channels – which could include retailers, market places, website or social sales – is critical to prevent overselling and underselling of products. Automation not only simplifies the customer ordering process, but improves accuracy up to 99%. And, as trends continue to evolve, knowing accurate sales and inventory levels helps to make proper buying choices. As certain products sell quickly, it will be more profitable to order inventory quicker than those that are lagging on the shelves.
Staffing has proven challenging for most businesses the last 6 months, and automation not only improves efficiencies, but allows for unlimited order capacity without having to hire additional employees – reducing processing costs to just cents per order.
Simplify with OPAL’s 4-in-1 Software Solution
EDI | Order Management | Warehouse Management | Shipping
OPAL is the innovative solution to simplify your small to mid-sized to enterprise business fulfillment needs in today’s rapidly transforming retail world.
As your business looks to improve its processes and efficiencies through software automation, 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!
Click here to book your customized demo today. We are here to support you through this time of change and are here to help you innovate and thrive!