Retailers are becoming more commonplace online. As shoppers adjust their habits and become trendsetters, the strong survive while the weak vanish. Newer software solutions are helping some retailers get an upper hand. In this realm is ecommerce CRM software. Here are six reasons why it’s going to be the next big thing.
E-Retail Just Eclipsed $2 Trillion Per Year
According to the most recent reports, e-retail is set to break the $2 trillion marker in worldwide sales this year alone. As retailers scramble to figure out what trend is the next big thing, many are turning to the functionality of ecommerce CRM software to help them predict trends and sales patterns so they are as prepared as possible to cash in.
Over 100 Million Online Stores
A recent report that was published by Internet Retailer found that there are well over 100 million online stores in operation during the present day. Now this is counting nearly every store in every country. Still, the sheer volume of these online retailers is astounding, to say the least. This number reflects just how great the demand has become for ecommerce CRM software solutions at the present.
Analytics Are In Demand From Retailers
According to a recent Market 6 report, most retailers are now in the realm of needing analytics, but many are unaware of where they should turn to get them. As ecommerce continues to expand, the demand for seasonal analytics will continue to increase. With the newer batches of ecommerce CRM software that are in development, it’s unsurprising to learn that analytics are a key mainstay to their functionality.
Automating Shipping & Returns
A key function of the newer ecommerce CRM software solutions is shipping and returns automation. With direct API access, these solutions are able to connect to your online store or marketplace and shipper accounts. This enables retailers to save a lot of time by automating these previously tedious tasks for them. You can imagine how desirable a feature this is.
Predicting Seasonal Trends
Analytics are the mainstay for this software arena. Retailers want to know what trends are taking place, when they are going to happen, and how they can cash in on them before it’s too late. With predictive analysis, these programs are able to help retailers send out newsletters on time, order excess inventory and even feature sales that encourage consumers to convert more often.
Managing Overhead Cost
One more thing to consider is managing your overhead cost. With a good software solution in place, you can know how your last inventory orders sold, how long it took to liquidate the inventory, and when you need to order more. You can also know when the peak sales times are and how many units you sold. Simple features like this can help you better manage your overhead cost, so that you are never undersold, and so that you have operational capital to continue meeting your customers’ expectations.