Supplier relationship management (SRM) is the set of practices and approaches that a business uses to create and maintain a friendly, productive relationship with its suppliers. The purpose of building a good relationship with suppliers is to increase the efficiency and reliability of your inventory flow, purchasing operations, and product sourcing—reducing overall costs and wasted…
Ecommerce
What Is a High-risk Merchant?
A merchant is considered “high-risk” when it runs a business that is highly susceptible to fraud and chargebacks. This can be due to the industry they belong to, the products or services they provide, or a history of high chargeback claims. When this happens, merchants go through a more rigorous process before being approved for…
What Is Dropshipping & How It Works in 2024
Dropshipping is a popular ecommerce model that requires minimal upfront investment. Learn how it works and whether it is still viable in 2024.
The Significance of Dropshipping Dropshipping is a business model in which orders placed on a retailer’s site are actually fulfilled by a third-party manufacturer or wholesaler. In dropshipping, the retailer doesn’t keep the products on hand. When the retailer receives an order, they send it to the third-party company who will then fulfill the…
Shopify POS Review: Best for Omnichannel Retail
Our Shopify POS review found that the system is best for retailers selling across multiple channels, especially if you either have or have plans to use Shopify’s ecommerce platform. Previously, Shopify POS was only available through an ecommerce subscription. However, it is now available as a standalone product. This change makes it a good fit…
What Is Social Commerce? Impact, Examples & Trends in 2024
Sell directly to your customers how and where they want.
Social commerce refers to the buying and selling of products on social platforms. Product research, discovery, and purchase are done in-app and without ever leaving a social channel. Social commerce removes friction from a customer’s buying experience, creates a more engaging environment, and generates opportunities to increase consumer interest. In this article, we discuss the…
What Is Conversational Commerce? Types, Benefits & Use Cases
Conversational commerce (also called c-commerce) is when consumers and brands connect through chat or voice assistance with the primary goal of making a purchase. Conversational commerce has gone mainstream thanks to artificial intelligence (AI) technology. The global c-commerce market is forecast to reach $34.41 billion by 2034. In this article, we’ll take a closer look…
How to Grow an Ecommerce Business & Optimize for Sales
After you’ve built your online store, your next goal should be to grow your business so you can increase profits. To grow an ecommerce business, you’ll need to identify your audience, bring traffic to your store, develop a customer retention strategy, build a community, and continuously test the market and your products. Here’s a step-by-step…
Stripe vs Shopify: Small Business Guide
Evaluating Stripe vs Shopify can be tricky because it’s not an apples-to-apples comparison. Shopify is an ecommerce platform with integrated payment processing, whereas Stripe is a customizable payment processor that lacks a point-of-sale (POS) system and ecommerce software. Both, however, are easy to use, have excellent user reviews, handle international sales, and don’t require a…