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Bricks And Mortar Vs Online: Can Retro Beat New Age?

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The statistics don’t make for positive reading material if you are bricks and mortar store. In 2016, 1.61bn sales were made via the World Wide Web. In the same year, online sales accounted for $1.9tn and the figure is set to rise to $4tn by 2020. In 2021, the global retail sales from eCommerce sites are due to hit 15.5%. A store owner reading this would be forgiven for shutting up shop and abandoning ship. Fighting back seems impossible, so why try?

The answer is simple: not all physical stores close. Here are the ways they are beating the online revolution and how you can too.

Join Them

Walmart is officially the biggest business on the planet with total revenue of $482bn per year. Quite an eye-raising amount even compared to Russian oligarchs and Chinese steel companies. What is just as shocking is the fact that a corporation the size of the Walmart Group couldn’t resist the digital revolution. Instead of dismissing it as a fad, the savvy bosses got in line and developed an eCommerce site which contributes to their yearly earnings. If the biggest business in the world has to adapt, so do SMBs, vintage stores, and boutiques.

Be Fast And Convenient

There’s a myth that online shopping is the quickest form of retail therapy. Heading to the checkout and paying for goods is easy but there is still a wait. Even next day delivery means customers have to go out of their way to receive a product. Fast food companies exploit this by providing the quickest and most convenient service in town. Burger King, Subway, and Dominos are pretty much served to the consumer within minutes of ordering. Lines and long waits are just two reasons people shop at home. To combat it, you have to focus on speed as well as quality.

Analyze Real Estate

One area where websites succeed is cost cutting. They don’t need a lot of things, but the most important omission is a building. Their lack of rent means the company can spend the money on other areas of the firm. You can’t because a workspace is essential, but you can cut the costs. Again looking to the fast-food industry, McDonald’s invest in prefab metal buildings to increase sales and revenue. As they fit together seamlessly, the franchises don’t have to wait long to make money. Simply bartering over the price with the landlord is a straightforward way to secure a great deal.

Don’t Mass Produce

Spotify doesn’t have SKU numbers, which means its service isn’t mass produced. There are rivals, but Apple Music and Tidal are rip-offs of the original. And that is the appropriate word to keep in mind. An SKU number implies the product or service is easy to find throughout the industry, and that is bad for business. There needs to be a legitimate reason to lure people out of their digital den which is where innovation comes into play. Locally sourced or handmade products won’t be available anywhere else, even on the cyber highway.

Can bricks and mortar beat new age? It’s not easy but it’s doable. What do you think?

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Student @ Advanced Digital Sciences Center, Singapore. Travelled to 30+ countries, passion for basketball.

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Online comparators are the best allies to help you find the loan you need

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When applying for a loan, it is common for people to look forward to having the complete information at hand in order to choose the type of credit and the financial institution that better suits their needs. Online comparators are an excellent online resource, as they explain in detail the best options for users to select the credit product with the most favourable conditions for them.

For many years now, loans have established themselves as one of the best ways to obtain the necessary liquidity to address a wide variety of issues, from financial hardship, to entrepreneurial projects, mortgages and more.

One of the countries where credit supply is one of the widest is the United States, which is due to its strong economic development in all sectors and the fact that it is one of the main drivers of the world economy.

In this sense, there is a wide diversity of ways to obtain money for a vast number of purposes. It is very common in the United States to apply for loans to financiate a trip, to pay fines, to reunify debts, to buy a house or a car, to start a business, etc.

For each type of need there are different categories of loans: personal loans, quick loans, credit cards, mortgages or government loans. It all depends on what the capital is required for, how much is needed and how the amount received is to be repaid, and the respective interest that is to be paid.

How to get the ideal funding?

It is very common to have many doubts when it comes to obtaining financing, especially in the United States, where the range of options is quite wide. This is where the internet plays a fundamental role.

Nowadays, specialised platforms can be visited on the internet to obtain detailed information on all the types of loans that exist, including comparisons of financial institutions and their products, so that the user can select the one that meets his requirements and has the best conditions.

These days, one of the types of financing that are well sought-after are quick loans, which are ideal for getting out of financial difficulties, especially those unforeseen events that sometimes arise when you do not have the necessary liquidity. These are credit products for which few requirements are asked, with short contracting times and with the possibility of receiving the amount the same day.

There are comparative websites that present users with the best fast loan alternatives available in the United States, including options for those who for one reason or another have a low credit rating or simply no credit rating at all. These alternatives are called bad credit or no credit loans.

These platforms analyse the best quick loans and disclose all the details, so that users do not get any unpleasant surprises.

Government loans are in high demand

Another type of loan that has been in high demand in the United States lately are the government loans. There is also a wide variety of alternatives for this type of loan, so it is difficult for many people to know if they are ideal candidates for one.

Digital platforms are also an excellent support in this regard. They  provide users with all the necessary information so they can find out all the details that will allow them to take advantage of the credit options offered by the US government.

There are very useful online resources that can be of great help for people to find government loans for which they can qualify, i.e. for which they may be eligible.

Among the categories of government credits that these platforms analyse are agricultural loans, education loans, commercial loans, housing loans, veterans’ loans, loan repayment loans and much more. In fact, there are web portals that allow you to check your eligibility among more than 1,000 types of benefits.

These portals usually have a loan search engine that consists of a questionnaire to be answered by the user, which allows the user to filter through all the alternatives and review only those that fit the profile and requirements.

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Strategies to Have in Place When Launching a New Product on Your E-Commerce

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When launching a new product on your e-commerce website, there are several strategies you need to have in place in order to ensure its success. You want to ensure that you create a buzz around the product before it even hits the shelves and that you have a plan for marketing and selling it once it becomes available. This blog post will discuss some of the most important strategies you need to consider when launching a new product.

Create a Buzz: 

One of the most important things you can do when launching a new product is to create a buzz around it before it even hits the shelves. There are several ways you can go about doing this. You can start by releasing teaser images or videos on your social media channels or even holding a contest where people can win the product before it launches. This will get people talking and excited about the product, and they’ll be more likely to buy it once it does become available.

Another way to create a buzz is to reach out to influencers in your industry and see if they’d be interested in featuring the product on their own channels. This can help spread the word quickly and get people talking about the product before it even launches.

You can also try to get press coverage for the product. This can be done by reaching out to media outlets and pitching them the product launch story. Getting some press coverage leading up to the launch will help create a buzz and get people talking about the product.

Marketing and Sales Plan: 

Once the product is available for purchase, you need to have a plan in place for marketing and selling it. This will include things like setting up a landing page on your website, creating social media posts and ads and reaching out to your email list. You want to ensure that you’re doing everything possible to drive traffic to the product page and get people interested in buying it.

It would help if you also had a plan for post-purchase follow-up. This includes things like sending thank-you emails, providing customer support, and offering discounts or coupons for future purchases. By following up with customers after they’ve bought the product, you can increase customer satisfaction and loyalty, and you’ll be more likely to make sales down the road.

IT and Technicalities: 

When launching a new product, you also need to have an IT strategy in place. This includes setting up a testing environment, ensuring that the website can handle increased traffic, and ensuring that all of the payment and shipping systems are working correctly. By having an IT-strategie in place, you can avoid any potential issues that could arise during the launch and ensure that everything goes smoothly.

Following these strategies can set your new product up for success. For example, creating a buzz before the launch will help increase interest and sales, and having a marketing and sales plan will ensure that you’re able to drive traffic to the product page and make sales. Additionally, an IT strategy is essential for avoiding any potential issues that could occur during the launch. Having all these strategies in place can ensure that your new product launch is a success.

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Scale Up Your Small Business And Accelerate Your Customer Base

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Small businesses can get lost in the sea of other similar businesses if they aren’t careful. There are hundreds of new businesses added to the market every day. Therefore, it is important for new business owners to know what to do in order to enhance their business and attract and win over as many customers as possible.

From improving the experience of your business website to giving customers regular discounts, here is how to scale up your small business and accelerate your customer base.

Offer the best product/service experience

Whether you are creating a new product or service to offer to customers, you will want to make it as good as possible so that the customers are not disappointed. Offering the best product/service possible will make sure to win over customers and maintain their attention. Any fault with your product/service could result in them looking elsewhere.

For instance, let’s say you are a new music teacher that wants to start a business teaching teeangers fresh out of college. If so, you will want the best equipment possible so that they can have the most fun and attain the best results. Hence, you could invest in equipment usch as Drum Machines for Beginners so that the students can create drum sounds that sound like the real thing. This will make their music creations much easier and more professional, which will help them gain more confidence in their education, creations, and results.

Improve your small businesses website experience for customers

Another important aspect to focus on when you are trying to scale up your small business and attract as many people as possible is to improve your website experience. Like a faulty product/service, if your website is difficult to use or faulty, then a customer will soon lose interest.

You should consider working with website designers so that you create the most efficient website for your small business. Thereafter, ensure to maintain its speed, SEO, and updates so that it runs smoothly.

Make more marketing efforts

Marketing techniques are important to focus on and get right if you want to enhance your brand awareness and attract more customers.

The more you focus on your marketing, the more traffic you will gain. Being active on social media, improving your website SEO, and using various means of marketing will ensure that you can reach a wider audience, which should hone in more customers and help your small business make more sales.

Build a great customer service team

Giving your customers the best customer service possible will ensure that they maintain their satisfaction. Good customer service includes:

Being friendly

Offering fast responses

Always helping no matter if there is an issue or a compliment

You should consider adding a live chat service to your website so that customers can attain immediate responses to their queries. Thereafter, you could also encourage customers to message you through your social media channels if they want to ask a question. Having one or two people monitoring the channels will ensure that the customers get a quick response.

It is always beneficial to train all members of the team to be as friendly and as helpful as possible when dealing with customers. Making sure that every customer is treated fairly will result in happy customers. Happy customers will likely be regular customers. They will provide your business with positive feedback, which will encourage more customers to try your small business and help it grow.

Ask for customer feedback

Speaking of customer feedback, this is another important task to tick off when you are looking to scale up your business.

Customer feedback will help you understand what people truly think to your business. Although negative feedback can feel upsetting, it is good to take it on board and use it wisely to adjust your business. The feedback will help you align your business with customer expectations, which will result in customer satisfaction and a more successful business.

Make good first impressions

Alike customer service, your first impression should also be top tier. If you get off on the wrong foot with a customer, then it won’t look good. Although nobody is perfect, it is smart to be friendly, helpful, and of good service. The better impression you make, the more encouraged a customer will be to come back time and time again to use your business.

Good first impressions will also filter through in conversation. For example, an impressed customer might encourage their friend to try your business. New customers equal more sales and greater success.

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