e-Commerce and Information Products
In the last post I talked about how offline retail sales
growth has slowed to a near standstill… Doom and gloom.
Yet, e-Commerce businesses are flourishing. Why?
Forrester Research cites several reasons consumers
are doing more and more of their shopping online:
1) It’s convenient.
2) You can research products online.
3) You can purchase anything, any time - 24/7.
The research also shows that frequent online shoppers
are unlikely to slow their spending any time soon.
Generally speaking, online shoppers have higher income
levels than average consumers and are more insulated from
the effects of recession.
They also tend to be more optimistic about their financial
futures. This is GREAT news for an e-Commerce business!
However, even in a recession-proof market, you still have
to provide the kind of buying experience visitors are after
… or (click) they won’t be back.
Forrester Research suggests some key issues you need to
get a handle on if you want to convert your visitors
into sales and get their repeat business.
The #1 concern is Shipping charges!
The most common issue scaring customers away is
higher-than-expected shipping charges.
You can’t eliminate shipping costs, but you can
help yourself by NOT padding your shipping charges.
Avoid lowering your product price by falsely inflating
your shipping costs. Potential customers will likely
bail out of their shopping-cart, if the shipping charges
are too steep - never to return.
Back orders
The second-biggest cause of online shoppers’ dissatisfaction
is back-ordered products. People don’t want to wait.
You should constantly monitor your inventory levels
and your suppliers’ product levels -
- especially on your popular sellers.
Keep a close eye on your wholesaler’s inventory.
When you see they’re nearly out of an item, protect yourself
and remove the listing from your website until they restock.
It’s also smart to order a few of your best-selling items
and keep them on hand. Then, if your supplier runs short
before you can pull the item listing you won’t find yourself
in a back-order situation.
If you can overcome these basic operational hurdles, you’re
putting your eCommerce business in a position to profit.
Many home business people today avoid the back order dilemma
by selling “Information Products“.
The advantages of information products are many.
1) With a proper sales letter, the perceived value is high.
2) No shipping cost because the buyer can download the info.
3) No waiting - the download and gratification is immediate.
4) No inventory storage - the products are digital.
5) No back orders (you can sell an unlimited amount).
6) Super-High Profits…
If you would like to start your own “Information Product”
empire, but don’t know how to start, sign up for the
FREE TRAINING PROGRAM at:
back order, Back orders, E Commerce, ecommerce, Forrester Research, free training, Information Products, recession, Shipping charges
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