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How Amazon is Revolutionizing the Way You Shop Online!
Amazon is the worldwide leader in online retail business. The reason why it has been able to stay on top for so long is the constant innovations that it has been making. These innovations have helped Amazon in revolutionizing online shopping for more than two decades. Ever since its foundation in 1995, this company has tried to incorporate technology in their business models. This has helped Amazon in providing various facilities to online shoppers that weren’t available to them in the past. Whether it is one-click checkouts or elastic transcoders or even cloud computing, this company has time and again showed its commitment towards innovation.
Amazon was among the first ecommerce businesses to launch delivery of products using drone technology. The company is trying to get approval from the authorities for this new delivery system. Once approval is gained, customers will start receiving their shipments via drones. Aside from delivery systems, Amazon has invested heavily in automated warehousing too which has helped it in lowering costs and improving shipment speeds. The focus of the company with all of its innovations has always been the customers. Amazon has always strived to make online shopping as safe and simple for the customers as possible and have succeeded in their efforts too.
The latest innovation that Amazon has been working on is the Amazon Go stores. They are brick-and-mortar stores which do not have long queues of customers waiting to checkout. These Amazon Go stores scan your Smartphone upon entry and then allow you to roam the store and pick whichever item you need. The store tracks the items you pick off the shelves using advanced technology and then charges your Amazon account after you have left the store. This new retail shopping experience provided by the company to its customers has caught the eye of the customers and is set to revolutionize grocery shopping in the future.
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What Were the Three Most Common Ecommerce Industries of 2017?
The most common e-commerce models of 2017 offered services, physical goods,and information. The most successful e-industries were Apple, Walmart,and Amazon.
Pros and Cons
Services are ideal for the online market. Brick and mortar warehouses are unnecessary as there is no need for storage. This type of business saves a ton of money in shipping charges alone. Delivery time is immediate,andas long as the information is correct, most customers are very satisfied.
Digital Information has the same advantages- however, determining what the consumer wants is vital in this business. EBooks only sell if they provide data that has not been explored or old approach it from a new perspective. It can be a booming triumph or a miserable failure. The good thing is the investment is small,so the return doesn’t have to top the charts.
Physical Goods are a whole different story, not only is the cost ofproducing the products -the cost of storage and shipping can be a considerable burden. A few companies have managed to soar to victory and include “free shipping.”
Apple is, of course, a group of marketing geniuses. They offer a must-haveproduct, pay attention to every detail and bump up the quality. Consumers eat it up,and their products don’t take a lot of space to store.
Walmart has its own smart marketing but in a different way. They charge more for their online products than in the stores. How does that work? When consumers see “online price only” they assume it’s a “good deal” plus Walmart is selling convenience,not just the physical items.
Amazon has fooled half the world with Prime. They boast free shipping for about one hundred dollars a year plus a guaranteed arrival date. Should the buyer want it sooner, there is an additional fee for the free shipping. They offer such a wide selection of products from all over the world many people don’t complain if it costs more or arrives later than expected.
It isn’t just in Australia and the USA, 68% of Ex customers shop online. One wonders what will happen when all the brick and mortars have gone to heaven and the internet crashes, where can one find a loaf of bread.
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Inventory management software- to help business grow with affluence
Internet has become the medium by which one can conduct the entire business online easily and sell the products and services. An ecommerce platform is the place where selling of products is conducted online. People often get confused regarding the best ecommerce platform on since numbers of options are there. To help all those who are looking for a reliable ecommerce platform, neto.com.au is here as the leading name in the industry offering reliable services since years.
Developed on the best ecommerce platform, neto.com.au serves as the best option where customers can find all the desired products and conduct hassle free shopping. Providing the user with convenience and best experience is the motive behind our services.
When it comes to inventory management, it becomes important to select the best inventory management software so that the operations could be conducted smoothly leading to development and growth of business. Different purposes are solved by different software and it is important to select the software that best match the needs and serve the intended purpose. For the development of business, selection of proper software is a vital decision and this holds true for inventory management as well. One of the hard-hitting jobs is efficient management of inventory. To help you in this, neto.com.au provides the best inventory management software that serves efficient management of inventories.
Inventory is allied with the stock of goods or raw materials in the warehouse that are utilized in near future by the business. In the warehouse, inventory tracking is one of the most tedious tasks. This is because the process of counting the stored goods or materials needs hordes of efforts and is time consuming as well. This is the reason why inventory management software becomes important for business. It serves the required job while saving lots of time and efforts that could be utilized for the core functions of the business.
The measure of all the material or goods deposited in the warehouse is recorded by the inventory management software. Along with this, it also records the purchase date of product, provides product description and records the proceedings of sales. This business organization is enabled of easy and efficient management the inventory.
The features that are extremely important are served by the inventory management software making is highly desirable for businesses. Below are some of its important features:
Reducing the cost of warehouse
Providing the information of products that are retailing faster.
Providing the users with financial benefits
Competent management of back orders etc.
For the proper management of inventory, the inventory control system has become a necessity for both small and big organizations. This helps in significant reduction in expenses and also leads to profit maximization. In warehouse, for the purpose of maintaining levels of stock, the exact required quantity is stocked by the management with the help of inventory management software. With this help of this software, the organizations are able to meet all the demands of customers. This leads to attain satisfaction of customers that results in attracting more and more customers.
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Streamline your stocktake with 6 simple steps
The end of the financial year (EOFY) is looming near, bringing with it the inevitable list of major chores that most retailers are frantically preparing to conquer. And one of the mightiest foes on that list is the dreaded annual stocktake.
Like most EOFY preparations, your annual stocktake plays a critical part in the effective financial management of your business. Stocktakes let you:
update your stock levels to reflect your actual stock on hand
update your current stock value for your financial statements
highlight variances and investigate stock control issues
account for breakages, losses, and obsolescence
identify slow-moving items that need to be cleared
make informed decisions for future procurement.
Stocktakes involve a physical count of every item in each product line. So while they’re essential, they can also be tedious or downright painful if you don’t have good inventory management procedures in place. Some businesses are even forced to close down their entire store for a day to sort out their stock!
So it’s a good thing there’s a better way. Our handy guide will show you how to save time and streamline your stocktakes.
1. Start with the right information
A stocktake tends to run more smoothly if you’ve got accurate information about the items you’ll be counting. Ensure your stock count sheets have sufficient detail for your staff to identify each items, using product codes as well as descriptions wherever possible. Make sure you’ve got the latest price lists, so you’ll be able to calculate your stock value.
If you’ve got a quality inventory management system that lets you select products, add them to a pending stocktake, and print stock count sheets, you’ll find it simple to get started. But it’s even easier if your inventory management system is fully integrated with your sales platform or, even better, built in, because then you know your stock levels will accurately reflect the latest transactions—even if they happened moments before you started the stocktake.
2. Have a plan in place
Make sure everyone involved in the stocktake knows exactly what their role is and how the stocktake will proceed. Consistency is the key, so be specific when you explain which order you’d like items counted in, how many times each product type should be counted, and whether you’d like cartons opened.
Give some attention to how you will handle special cases, such as
broken, damaged, or expired items
outbound stock that has been invoiced but not despatched
inbound stock that you’ve received from suppliers but not yet added to your system.
Once again, you’ll find this much simpler if you’re using an integrated or all-in-one inventory platform that stays in sync with your sales system and knows what’s happening with order fulfilment.
3. Use the right tools
As the person in charge of stocktaking comes down to your preferences and the capabilities of your inventory management system. For some businesses, this will mean arming your staff with stock sheets, clipboards, pens, pencils and calculators. A more sophisticated system will let you use a barcode scanner to pick an item, then enter a count for it.
4. Keep trading during your stocktake
Earlier, I mentioned some businesses shutting down completely for a stocktake. Other businesses conduct them out of regular business hours, bringing in additional casual staff to help with counting. Both these approaches work, but if you’ve planned your stocktake well and picked the right sales platform—one that’s fully integrated with your inventory management platform—there’s a better way.
Advanced inventory management platforms (like the one built-in to Neto) will automatically lock items when you start the stocktake, so that no one can receive purchase orders, perform stock adjustments or pick orders until the stocktake is completed (or cancelled). And that means you can keep trading right throughout your stocktake.
5. Don’t wait until the EOFY
I probably should’ve mentioned this one sooner, but at least you’ll know for next year: conducting regular spot checks of up to 10% of your items throughout the year will make your annual stocktake that much easier. That’s because you will have had the opportunity to address any stock problems throughout the year, ensuring your data is more up-to-date. Your stocktake will also run more smoothly if you keep your shelves tidy throughout the year.
6. Make the most of your stocktake, immediately
Remember, the goal of the stocktake is to better understand your current business position so you can make smarter business decisions. So don’t let those valuable numbers go to waste. As soon as you’ve entered the stock counts in your inventory platform, put them to good use:
- identify stock that needs clearing
- identify top performing stock
- identify and investigate any variances
- write a plan for fixing the problems and boosting your bottom line!
Streamlining your stocktake is simple if you’ve implemented the right processes and the right Inventory App management platform—one that keeps everything in sync with your sales platform and other business software you use.
Neto is the first all-in-one ecommerce platform with built in inventory and the only one that seamlessly syncs stock and orders between your retail, online and eBay stores. Cloud-based and designed for growing retailers, we enable anyone to sell anything, anywhere—from web, mobile, eBay and social media, through to bricks-and-mortar stores. If you’re ready to take charge of your inventory with Neto, start a free trial.
Sources: www.neto.com.au/article/products/managing-stock/stock-take-stock-adjustment/
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Mens online clothing retailer, YP Threads make 'epic threads for lads having a good time'. The Neto team visit the YP Thread's head office in Brisbane to talk all things retail (and good times).
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Australia’s oldest golf retailer, Golf Word get a visit from the Neto We ❤️ Retail team to talk all things golf and retail.
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Why Do You Need Good Ecommerce Software?
Online shopping is becoming popular among the people with each passing day. Businesses that don’t have an online presence are losing out on a large portion of the market. In order to tap into this market segment, having a web store is of paramount importance. However, simple online presence isn’t enough, you will need ecommerce software to run the web store and manage the various aspects of online selling.
There is no shortage of ecommerce software in the market that can be used for running your web store. However, such software programs only offer management tools for order placement, inventory and shipping. They don’t provide the integration between various business channels including brick-and-mortar stores, the web store and marketplaces like Amazon and eBay. This is where Neto comes in.
Neto is regarded as the best E commerce software since it allows you to sell your products everywhere and allows you to manage it all from a single platform. Using Neto, you can manage your listings on marketplaces, the orders being placed on your web store and even keep track of the business in the offline store using Neto’s well-rounded POS.
Integration of the selling channels isn’t the only reason that makes Neto the best Ecommerce software. Neto Ecommerce offers help in building the design of your web store from scratch. It offers various templates and themes that you can use for designing a web store that stands out from the rest of the crowd. It also enables you to make your website navigable so the customers don’t have trouble in finding the products they are looking for.
Security is usually a big issue for online shoppers. Neto Ecommerce gives due important to this aspect as well. It ensures that the checkout page is secure and the financial information provided by the customers remains private. While providing security, Neto Ecommerce software makes sure that there are no unwanted delays in the checkout procedure and it is completed as quickly as possible.
So, if you are looking for good ecommerce software then Neto Ecommerce should be your preferred option.
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Ecommerce Software That Integrates with Amazon
Ecommerce has been seeing a great deal of growth for the past decade. With people mostly shopping online, marketplaces like eBay and Amazon have become gold mines for businesses. However, in order make your products shine here, you need robust Ecommerce software that offers seamless integration of your website with these marketplaces.
Neto offers integration with various marketplaces, most notably eBay and is getting close to providing Amazon integration too. It can help you in managing all of your product listings, inventory, orders and stores of your chosen marketplace from a centralized control panel.
Neto Ecommerce offers templates to you for creating listings quickly. It would take mere minutes for you to list thousands of products to Amazon using these listing templates. You can even create your own listing templates as well to automate the listing process. Neto gives you the chance to schedule your listings as well by providing you a scheduler.
Order management is among the highlight features of Neto Ecommerce. The order management systems it provides you is scalable and can sync with eBay or Amazon automatically. With this order management system in place, you can manage all of your marketplace orders without encountering any issues.
Keeping track of inventory is considered one of the most difficult tasks when selling products on marketplaces. Neto Ecommerce provides an efficient solution for this by offering various inventory management tools to take charge of your Amazon inventory. It offers real-time stock tracking and up-to-date information regarding the items that are sold out and need to be restocked.
Neto allows you to manage multiple marketplace stores from a single account. You just have to add the ID of yourAmazon web store into your Neto account. Once added, you will be able to use the centralized order and inventory management tools offered by this Ecommerce software for managing all your stores.
With Neto Ecommerce, you get to instantly transfer the listings you have on your marketplace to Neto at the touch of a button. You can create product listings for your web store using the product data you have on Amazon.
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The new payment method that’s better for customers and retailers
When a visitor spends time browsing your online store or bricks-and-mortar outlet, they’re looking for something. And when they find it, they’ll be tempted to buy it. But before they finalise their decision to purchase, they’re likely to ask themselves:
● Can I really afford it?
● Is it cheaper elsewhere?
● If I wait, will it go on sale?
● Do I really need this it?
● Should I buy something else?
● Should I save my money for next month’s phone bill?
● Will it max out my credit card?
You’ll notice these are all financially motivated questions that deal with why they should purchase, where they should buy from, when, and how they should pay. They’re the sort of questions that lead to the a shopping cart abandonment rate of almost 70%, and they could become big obstacles to your sales—but they don’t need to. One of the most effective ways to get these shoppers across the line is to offer payment options that make it easy for them to take advantage of the great deal you’re offering them right now.
That’s what’s prompted the creation of “buy now, pay later” services like ZipPay (by ZipMoney) and Afterpay. These third-party finance providers offer flexible payments with an interest-free period, so your customers can pay for their orders over a period of time while enjoying their purchases straight away. It’s a bit like a lay-by mixed with in-store finance and dragged into the present day app economy.
Here’s what you need to know.
Customers love to buy now, pay later
What’s not to love? It lets them seamlessly buy what they want, when they want it (now!), online or in-store without having to pay upfront. Even better, they get an interest-free period, automated deductions from their selected debit or credit card, and reminders to make sure they don’t miss any payments. And there’s no time wasted on complex forms or finance approvals—customers simply sign up online or in-store with just a few personal details and their card details. Point of sale equipment
Store owners benefit from offering a pay later service
Ecommerce and physical store owners are drawn to services like ZipPay and Afterpay because they provide a simple solution to offering risk-free customer finance. Yes, risk-free—they wear all fraud and credit risk, and you’re guaranteed to get paid. Even better, both these companies offer same-day settlement, improving your cash flow and ensuring you never have to worry about unpaid invoices. And the fee structures are transparent and easy to understand—not like credit cards! As an added bonus, payment processors often feature their merchants on their website, so you reach a new audience.
But most of all, store owners love the pain-free payment process, which helps get customers across the line. That means they’re seeing large increases in the metrics that matter, like shopping cart conversion rates, repeat business, and total order value.
The buy now, pay later process is simple
Each company offers a slightly different service, so you’ll need to check out the available options and decide which ones are a good match for your brand. But, roughly speaking, they all work like this:
1. As a merchant, you sign up with one of the available payment processors and add your new payment method to your point-of-sale or online shopping cart software, or both.
2. Online shoppers select the payment option at checkout and enter the details of their credit or debit card, which creates their new pay later account. In-store customers sign up to the service online (probably on mobile phones, while in the shop), and then use a unique barcode or PIN to pay at the point of sale.
3. You deliver the goods to each customer immediately after the sale, either across the counter or via your freight partners.
4. On the same day, your account is credited the full amount of the sale (not just a deposit!) by the payment processor.
5. The payment processor deducts payments from the customer’s account according to the agreed schedule, sending the customer a reminder a few days out to make sure they’ll have sufficient funds.
That’s the whole lot in five simple steps—much easier than setting up a lay-by or issuing a store card!
Merchant and customer fees are usually low
ZipMoney, AfterPay, and similar payment processors charge merchants a small fee on each transaction, and some may also charge set-up or subscription fees. The fees tend to be comparable to credit card merchant fees, but more transparent. But don’t let that put you off—many merchants are reporting significant increases in total sales, and average order values jumping by over 50%, which is more than enough to make up for the fees.
It’s good news for customers, too: most pay later services won’t charge them any fees, unless they miss a payment. And that’s hard to do, because the payments happen automatically! (Some companies, such as ZipPay, also let customers choose a longer payment term for a small monthly charge.)
Choosing the best buy now, pay later service
ZipMoney and Afterpay are currently the two main providers in Australia, but this space is growing, so it’s likely there will be more options available over the next few years. They all offer a similar service, but with slightly different fees and payment structures that may make them more or less suited to your business—something to keep in mind when you’re making the decision. Some retailers are giving their customers even more choice, by offering both ZipPay and Afterpay.
Another major factor you’ll want to consider is how readily the service can plug into your existing ecommerce and point-of-sale software, so you can avoid costly customisations. Neto currently supports ZipPay (by ZipMoney), Afterpay, and Once. And you can always ask your customers if they’re opting to pay later when they shop in other stores, and suss out what your competitors are using.
Buy now, pay later services are an appealing option for merchants and customers alike. The sooner you get started, the sooner you can break down the barriers to buying, and boost your bottom line.
Neto is a leading ecommerce platform designed to help your business grow across multiple channels. With fully flexible navigation, customisable shopping carts, and native support for the most popular payment gateways, our powerful platform takes care of the details, so you can concentrate on the big picture. If you’re ready to take advantage of this great new payment method, talk to us about adding ZipPay or Afterpay to your Neto store. Don’t have a Neto store yet? Start your free trial today.
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