IT services and business solutions

   A favorable outcome of the Covid-19 pandemic is the rapid acceleration of eCommerce and its subsequent adoption by the masses. According to research conducted by eMarketer, eCommerce sales witnessed a growth of 32.4% in 2020 while the figures for brick-and-mortar stores fell by 3.2%. The rapid rise in B2B eCommerce means that dynamic pricing is becoming an important aspect of the B2B model. What is Dynamic Pricing? Dynamic pricing is an oft-used strategy in industries like transportation, retail, hospitality, etc. Dynamic pricing is a strategy under which prices change dynamically depending on the fluctuating market conditions and customer demands. It takes into account different algorithms like consumer behavior, competitor pricing, supply and demand, along other market changes. The types of dynamic pricing include: Cost-plus pricing:  Prices vary according to the cost and margin changes. Value-based pricing:  Depends on the customers’ willingness to pay. Competi...

  B2B is one of the fastest-growing segments that has witnessed unprecedented acceleration post the pandemic. Smartphones, tablets, and other mobile devices are extensively being used to shop online. B2B retailers are looking for a seamless “Amazon” like experience while shopping for products and services. B2B eCommerce has very different functionalities and demands that sets it apart. A marketplace is essentially an eCommerce site that provides a centralized platform for buyers and sellers to interact and do business seamlessly. Most B2B brands function traditionally and maintain personal relationships with vendors and partners that have been in place for decades. However, in the digital age, these B2B companies have to rethink their footprint and establish connections with customers who are thinking and purchasing differently. This will allow them to scale and easily reach out to key customer demography. The pandemic has increased our reliance on digital commerce, and B2B buying ...

  The eCommerce industry is booming with vendors taking their business online. As an eCommerce vendor, you must be grappling with the choice between dropshipping and marketplace. These terms are often used interchangeably thereby giving rise to further confusion. Being a seller it is important to utilize the best strategies at your disposal to deliver a seamless customer experience. To do so, they must decide between dropshipping and eCommerce marketplace models. Let’s look at the difference between the two and what it means for your business in general: Dropshipping In dropshipping, one party sells the goods while another party that can be a manufacturer or wholesaler delivers the goods on behalf of the original seller. Therefore, with dropshipping one doesn’t have to worry about keeping stock, labeling, and shipping. While the customer receives the product from the manufacturer/ wholesaler, the branding and address are that of the seller.  If you are a startup or entrepreneu...

  Triggered by the pandemic, online shopping has witnessed unprecedented growth across all categories. This habit will stick as more and more customers continue shopping online. Whether you’re starting with an online store or are an established brick-and-mortar store that’s moving online, the eCommerce platform that you host your store on has a significant impact on your business. No matter the kind of business you operate, the success of your store will depend on the eCommerce platform you choose. The eCommerce market is growing steeply, with retail sales projected to grow about 85%, from USD 3.53 trillion in 2019 to USD 6.54 trillion in 2022. So no matter the kind of category you’re operating in, you must be strategic in your decision of choosing the right eCommerce platform for your business as a lot relies on this. Your chosen eCommerce platform should be an all-in-one software solution that empowers your business to manage everything from sales, and accounting, to marketing. W...

 The advancement of technology has digitized entire businesses and made eCommerce a highly viable option. The success of brands like Amazon, Alibaba along with homegrown brands like Flipkart and Zomato, among many others has shown that eCommerce has the capability of transforming entire territories and revolutionizing the entire market.  With the world moving online, even routine tasks like grocery shopping to purchasing stationery items are being done over the internet. People are increasingly preferring the comfort of shopping from home rather than physically visiting stores to complete purchases. The growth of AI and VR is also fulfilling the aspects associated with physically visiting a store by augmenting user experience. The world of eCommerce is quickly adapting to emerging trends and providing a heightened value to customers. India’s E-commerce revenue is expected to jump from US$ 39 billion in 2017 to US$ 120 billion in 2020, growing at an annual rate of 51 percent, t...

  LS Central customers be it in retail, hospitality, or pharmacy business, have enjoyed the umpteen benefits of running their business from a single platform. It is a retail management software that encompasses all aspects of the enterprise enabling the organization to have a clear overview and make clear and insightful data-backed decisions. LS Central is a unified commerce platform built on the capabilities of the MS Dynamics 365 Business Central platform. With LS Central, you can effectively cut down on software administration costs, and bid adieu to costly integration expenses. The software produces consistent financial data, simplifies and automates processes, and allows you to access business information whenever and wherever you want. Here’s how LS Central can strengthen your online retail business: Enable omnichannel shopping LS Central comes with in-built eCommerce integrations that allow for seamless integration with top eCommerce platforms like Magento, Shopify, etc. Wit...

Abandoned carts are one of the worst nightmares for any online retailer. Attracting potential customers to your site, having them select their desired items, add them to the cart, only to have it all abandoned at the last step is a complete loss. In the world of online shopping, shopping cart abandonment is not that surprising. Many customers change their minds when they see the final price and opt to withdraw instead of completing the purchase. Unlike offline stores where customers can be personally catered and nudged to make a purchase, online retailers have to employ other strategies to ensure a lower rate of cart abandonment. Getting customers to your online store, in itself is a difficult process, so you surely don’t want to lose them at the checkout process. What is shopping cart abandonment? Shopping cart abandonment refers to the process when customers add items to their shopping cart but leave before finishing their purchase. Cart abandonment rate is an important metric for bu...