5 Ecommerce Metrics Retailers Need To Track

Google Analytics offers several useful metrics for any website owner and to that end, it is valuable and useful.

Here we are going to explain 8 most important features that can bring fruit to your marketing efforts through your website.

This e-commerce tracking feature inbuilt within Google Analytics helps you track the sources of your website visitors.

For other platforms like WordPress, you have several value-added plugins to take care of such tasks.

This feature is particularly there to help you track business conversions.

Some of the most commonly tracked goals by a vast majority of e-commerce websites include URL Destination, Visit Duration, Page Visit, Event, etc.

Choosing the right e-commerce business model to sell your product

From the last two decades, many people have shifted from offline to online retail. It is a recent trend that has gained the attention of many businesses. But, there are hurdles for the newcomers, many of them struggle just because they do not know the right way to set up their business. There are top e-commerce developers in India that are working hard in making online marketing easier. E-commerce has become a multi-trillion dollar industry, which was initially started operating for a few products. Concluding the methods through which you can supply your products to sell over online platforms. Here are some bullet points to capture the ideas understood through the above information. So, when you build an e-commerce website, you can choose to decide the business model it is going to operate in.

Ecommerce business models are of two types which are as follows:

• B2B- Business-to-business
• B2C- Business-to-consumer

It requires an extreme change in the retail business that so far has not been borne out to a great extent, and offline retailers have in the course of the last two decades kept on progressing. Actually, the world’s biggest retailers are kept directed by many offline retailers, or retailers who were designed offline. They keep the majority of their deals are from the available retail stores. Also, if you need your own online shop then you can contact people that are ready to provide the required assistance and guide you for E-commerce Web Development Services.

Online shopping has moved to the top spot amongst the drivers of this change. While offline stores are terminated mainly due to many operational reasons, eCommerce keeps on developing at a regular pace positively. Indeed, somewhere in between 2010 and 2014, eCommerce growth reached 30 billion dollars. In recent years, growth has expanded to about 40 billion dollars. The good thing about it is that is is an ever-growing industry with high scopes in the future.

Tips to increase the e-commerce business value:

You must have general, financial and operational characteristics in your e-commerce business:

• Your growth potential must be cleared.
• Predictable key drivers can help in new sales.
• The website must be at least 12 months old.
• Traffic stats like Google Analytics with a long history are good for e-commerce business.
• A good number of repeat visitors contributes to growth.

This article means to feature the ways in which many organizations are opting to sell online by choosing from the various available methods, which in most cases are taken according to the budget of the operating organization. The article is written mainly for manufacturers/producers who are wishing to either move their business online or are starting a new business that has an effective online presence. So, if you make an item and want to sell it online, this article is for you. So, at the lower levels, you can choose the right e-commerce model to sell products from the four options listed below:

1. Selling goods directly to consumers:

The idea of selling the products directly to the customer has more recently gained a tremendous amount of popularity. The reason being it becomes more cost-effective when the goods and commodities are directly sold to the customers. As most of the margins of the people that take the product to you are reduced and only the seller gets the margin, it makes it more appropriate and helps in increasing the sales too. The only drawback is that the seller needs to have good contacts to deliver the product right away which requires large capital investments in some cases.

2. Sell items under a private label:

The easiest of all, selling items under a private label is easy. There is no involvement of marketing or building brand as the retailer takes care of all of it. Also, many of the specifications of the product are also placed by the retailer itself many industries have seen selling under a private label to be a great strategy. The idea that you have already contracted for the amount of product that you are going to send confirms that you are going to earn from it. Over 65% of the current market sales come under this category. Shopify is one such example of selling items under private label.

3. Sell in wholesale to the retailer:

Selling the product wholesale to a retailer that has already a significant market presence online can be another option. In this case, distribution and marketing are going to be the responsibility of the online retailer, however, the branding is going to be your own concern. Since the product sells on your brand name you have control over most of the specifications of the product. Amazon is an example of the most successful retailer in this field(large retailers can influence it to some extent as they can control the supplier’s sales). They are among the best e-commerce developers in India.

4. Selling products over an e-commerce Marketplace:

Marketplaces are places where a person sells their products or goods by placing their products online. However, the actual transaction happens in the physical world as the marketplace just offers you the location of the person selling the goods and the buyer comes to buy the item physically. Marketplaces are a good way to increase the visibility of your product as they help nearby people in getting information about the products that are available nearby. This also helps people sell their second-hand products too. Some major examples of marketplaces include eBay and Facebook.

There are advantages and disadvantages to every one of these alternatives, and the value of every choice is based upon various components, for example, the capacity to put resources into your image, which is based on the amount of capital you have access to.

E-commerce is basically abbreviated for electronic commerce that actually consists selling and purchasing of the products and services via electronic systems.

If talking about convenience and easiness, e-commerce store is obviously better than those brick and mortar stores.

Search engines are like the centers where all the websites got ranking and users are searching for it.

Security guards, Buying inventory, Store designs, Staff payment are some of the expenses that cannot be neglected at any cost.

Depending on the type of ecommerce businesses are running, you will be hiring your employees accordingly.

Most of the physical stores are open from 9am to 9pm but online stores are open 24*365.

While at one point of time, businesses only focused on establishing a strong market name and for that they invested in having their very own website.

However, the needs of an ecommerce business have somewhat changed over the years and currently it is considered a major necessity for any online store business to have a well developed mobile app.

For the rest 92% of cases, they prefer to use mobile apps.

Hence unless an enterprise has a well developed app to represent its interests, it is likely to lose out on a major part of its business.

Additionally, customers who shop with the ecommerce store also get back within a period of 30 days to do their next shopping with the ecommerce store.

Smartphone apps can help to enhance overall user experience