Twirll

Starting any  ecommerce  business is fairly simple, and also does not require much initial investment. There are a number of variables that need to be in place though, and so entrepreneurs need to think this venture through. Unfortunately, the failure rate for e-commerce businesses is as high as 80%. To succeed in this field, one needs to closely examine the reasons why e-commerce business fail. Lack of cash flow - For any business to run profitably, it is important to allow easy inward and outward movement of cash. If a new company does not adequate operating cash, it is a major reason why e-commerce business fail. Solve this problem by analyzing your expenses and spreading them across days. Excessive competition - While deciding to enter into a segment of online retail, ensure that you conduct thorough research on competitors in that market. This will help you understand different players, and the possible level of difficulty in creating your niche. Trying to sell ma...

Today online retail has developed into a booming business, and virtually every company, irrespective of size, wants to jump on to the bandwagon. However, it is often quite a struggle for most e-commerce sites to begin sales. For an  e-commerce website  to take off at the start, it would be ideal to begin with the product line of a single brand, and combine it with an affiliate site. The above model is fairly different from e-commerce stores which solely rely on product sales. The following are its typical characteristics: It begins with a persona and a niche, and NOT a product You can concentrate your marketing efforts on shipping a single product Profit margin is very high Sales generated from affiliate marketing can be used to reinvest Look out for other high selling products and release latest product lines Growth projection is naturally positive To build a successful e-commerce business it requires more effort than simply selecting a brand name, listing produ...

Inventory Metrics Retailers Needs to Focus On Time is money, and in this case, inventory metrics also mean money. One needs to make the best stock decisions to positively shape one’s business. At the end of the day, business data is vital to generate actionable insights, and this data can be used for effective  inventory management . While explaining the above in greater detail, it must be mentioned that inventory metrics act as accurate indicators of stock control, allowing you to see how stock impact every small component of your business. Using inventory management techniques, you shall be able to compare your operational performance against industry standards and then benchmark the same over time. In order to do this, you need to compulsorily know the following inventory metrics: 1. Establish an understanding of inventory turnover- This defines the number of times inventory is sold per annum. You should be knowledgeable about this in order to understand why you mi...