It is no secret that our lives are dominated by smartphones. And, a lot of us are glued to them 24/7. This has changed the way people shop too. More and more people are reaching for online purchases due to the added convenience. As a business, it is necessary to identify these changes and adapt accordingly. So, what can you do? Well, why not build an eCommerce app?

An eCommerce app can help you take your business to a global level and bring in more customers. In turn, this will help generate more revenue. But, what is it exactly, and how should you get one developed? Fret not! The following article will discuss eCommerce apps and break down how you can build an eCommerce app.

So, what are you waiting for? Jump right in and get ready to take your business to new heights with an eCommerce app!

What Is An eCommerce App?

eCommerce refers to the buying and selling of goods on online marketplaces. All one needs is a device, laptop, or smartphone with internet connectivity. Due to the boom in development, globalization, and increasing customer needs, eCommerce has been growing. Additionally, the touch of social media has helped people transform their brick-and-mortar shops into an online marketplace.

According to reports, the eCommerce market growth is on the rise for every industry. Although consumers can purchase goods from websites, a mobile eCommerce app can bring in a lot of benefits. Since customers look for convenience and flexibility, mobile eCommerce apps are perfect. They can help them make purchases within a few clicks and from the comfort of their homes.

Interested to know more about why you should build an eCommerce app? Keep on reading!

How Can An eCommerce App Help My Business?

Other than the increasing market demand for eCommerce apps, there are countless benefits one can reap. Some compelling reasons to build an eCommerce app and profit your business includes:-

1. Increase In Conversion Rates

An eCommerce app lets customers look through numerous products directly from their smartphones. Moreover, it is also easier and quicker to purchase items via an app compared to a website. This means that conversion rates are way higher on eCommerce apps.

2. Adapting To User Behavior

According to Forbes, COVID significantly accelerated the eCommerce boom and changed the way users shop. Now, more and more people are purchasing goods via their smartphones, and an eCommerce app is a great way to leverage it.

3. Large Number Of Payment Options

Although websites can also cater to multiple payment options like credit cards, debit cards, PayPal, and crypto, it is easier to store payment information on a smartphone. So, when you build an eCommerce app, you help customers make future purchases more quickly and easily.

4. Access To Voice Assistants

Voice search assistants like Siri, Alexa, and Google have transformed the way people search. Nowadays, more and more people are using voice search for quicker results and use it extensively in shopping too. eCommerce apps allow users to leverage this technology and get quicker results via their smartphones.

5. Direct Communication Between Companies and Customers (D2C)

Most retail shops operate with the help of a middleman, which results in a higher selling cost. This is why D2C, or direct-to-consumer, is gaining more popularity among retailers. These models help cut out the middleman, save additional costs, and increase business profits.

What Steps Should I Follow To Build An eCommerce App?

An eCommerce app can help businesses reap several benefits and significantly boost revenue. So, how do you build an eCommerce app? The following section will break down the steps you need to follow to get started!

1. Research The eCommerce Market

Before you jump right into the development process, you need a clear plan. You cannot create the industry’s best eCommerce app without knowing who your competitors are, their marketing strategies, and their target customers. You also need to find out who your target audience is and conduct studies to analyze user behavior. Thinking about the audience’s demographics, age group, and interests can also help develop an idea of what you need to be up for!

2. Set Goals And Parameters

The foundation of your eCommerce app development lies in your business goals. Some questions that you should be able to answer before developing the app are:-

• What business problems are you trying to solve? (Eg. generating more revenue, boosting conversion rates, etc.)
• Who is your target customer base? (Develop multiple user personas)
• What are the different parameters the app should fulfill?

3. Choose The Right Technology Stack

We recommend setting a budget and time frame before choosing a technology stack for development. It can help you decide whether you want to build an eCommerce app on Android, iOS, or both. Your tech stack should consist of solutions for these complex components:-

1. Front-end for the app interface
2. Back-end for server processing
3. Development, i.e. a platform with libraries and interfaces
4. Supporting technologies for app security and performance

If you want to build an eCommerce app on Android, we recommend:-

1. Java/Kotlin as the programming language
2. Android Studio for its app development tools
3. Jetpack Compose for the UI framework
4. Android UI for display customization without the help of third-party apps

Similarly, our recommendations for iOS are:-

1. Objective-C/Swift as the programming language
2. XCode/AppCode for iOS mobile development tools
3. UIKit/SwiftUI for UI frameworks

If you want to build an eCommerce app that works on multiple operating systems, our recommendations are:-

1. Flutter
2. Xamarin
3. React Native

4. Consider And Create Your Feature List

You cannot build an eCommerce app without considering what features you want to offer customers. A good starting point is adding the core functions that an eCommerce app should mandatorily have. Then, you can consider your user research results from the previous steps to build on them. We recommend focusing on the user problems you can solve and adding relevant features.

5. Design The UI And UX

Your eCommerce app should always be user-friendly and be able to grab the user’s attention. Users would not use the app or stay on it for long if it is too difficult to use. Moreover, your app design is a reflection of your brand identity. Add color schemes and appealing visuals to make a long-lasting impression on users.

6. Build A Minimum Viable Product (MVP)

An MVP contains the vital features of your app and is considered the first version. Implementing the full-fledged app plan might take a lot of time. Moreover, you need user feedback to ensure your app has everything your users need. So, we recommend building and launching an MVP to reduce risks and allocate resources efficiently.

7. Get User Feedback

After you release your MVP, it is necessary to collect user feedback and improve. This stage helps figure out what your target audience needs to help build better applications.

8. Iterate

Design trends keep on changing and so do user demands. So, what do you do? Gather continuous user feedback and constantly evolve and adapt to the market and user needs.

Conclusion

When you build an eCommerce app, you have the potential to reach a wider user base and grab their attention. It can also help you take your business to a global level. We hope the above article helped you decide on an eCommerce app for your business and broke down the necessary steps.

Want to build an eCommerce app, but do not have the technical knowledge? Worry not! You can get in touch with a good eCommerce app development company to reduce time and effort.

So, what are you waiting for? Build an eCommerce app for your business and generate more revenue!

A Vendor management system acts as a single point of control for all vendor-related activities, helping merchants manage them seamlessly. It aims to minimize problems that could affect your eCommerce business, improve its efficiency, and drive long-term growth with high ROI. 

Whether you’re a seller looking to improve your vendor management process or you’re an Amazon Vendor (a first-party seller from whom Amazon is buying goods to sell to the consumers), you need to incorporate a vendor management system as a part of your selling strategy. Read on to know why it is necessary, the processes it involves, and various steps it needs to set up one that improves your business performance, along with giving other benefits. 

The Need To Have A Vendor Management System

Since vendors supply the goods sold on any eCommerce platform, all related activities need to be monitored and metrics tracked. It helps ensure that those items are delivered to the right palace, at the right time, in the right quantity, and for the right price so that Amazon listing assistant can confidently go ahead with their job. Below are more reasons one should have an amazon vendor management system.

Onboarding Speed Increase

Customers turn to Amazon to get their products quickly. They don’t want to be kept waiting with shipping delays. This is possible only if the seller or Amazon has sufficient stock to meet the demand. Onboarding a vendor who can consistently deliver the required quantity of products without compromise in quality or other factors is vital to optimizing your sourcing process. A VMS lets you gather all information about a vendor in one place, aiding quick onboarding. 

Cost Savings

Selling on or to Amazon is a careful balancing act between avoiding high procurement/selling costs and ensuring that you gain enough profit. Saving as much as possible on your initial and operational costs can help manage this balancing act a lot. The efficiency gains brought about by utilizing a VMS can help with your Amazon product listing optimization services in cutting down on unwanted expenses. It even helps reduce administrative costs due to the reduced workforce requirement and increased operational efficiency. 

Easier Risk Management

Risks may be inherent to selling online but it doesn't mean you have to always be at their mercy. With the right strategy and use of a VMS, you can minimize their impact on your business. The presence of multiple tools and lots of data on the VMS can help you create a bespoke business strategy that mitigates a variety of risks associated with cybersecurity, compliance, finance, brand reputation, and operations.

Accurate Logistics Tracking

Timely movement of goods across vendor, seller, and Amazon's warehouses for shipping purposes is the lifeblood of an eCommerce business on its platform. Without it, you will face shipping delays and loss of customer trust in your business. But tracking the movement of product packages from the factory floor to the products’ final destinations is no easy task. 

Having a VMS lets you track every parcel with pinpoint accuracy until it reaches the intended destination. The data can also be automatically logged after confirmation from the other end, making it easy for your Amazon Product Listing Services provider to make pages go live confidently. 

Improved Brand Value and Business Relationships

Reliability is what a seller needs from their vendors, and a VMS helps on that front by consolidating all relevant information. With this certainty comes confident selling of products, in turn enhancing the seller’s and Amazon’s brand value. This increase comes back to the vendor and increases their brand value as well. 

The subsequent positive feedback loop up and down the sales chain builds better working relationships between all parties involved over time. The eased communication and process management again makes logistics seamless and efficient, improving the entire operation’s condition. 

Vendor Management System Processes

Vendor Management is a complex undertaking containing many moving parts that must work in sync to keep the business flowing. This complexity and importance mean the creation of such a system should involve meticulous planning and execution at every step. 

Since every niche present on Amazon needs a VMS with varied characteristics, it is not possible to have a one-size-fits-all approach to its creation. But some steps are similar across the board and must be adhered to by all VMS creation processes. 

Affirm Business Goals

No business can function and grow without practically achievable goals set early on. While they may see some alteration with changing market conditions over time, the core tenets should remain steadfast to act as a guide to the business’s overall functioning. 

In the case of Amazon eStore business, it is important to account for vendors too. Your business goals should be in place before the start of the VMS process. They are necessary to prevent effort duplication and enable effective vendor performance evaluation. 

Select A Suitable Vendor

Just any vendor won’t do; you must choose one that works for your business based on certain criteria. The factors that should meet your expectations include their experience, fulfillment capability, production resources, proven history of performance, scalability, product lineup, etc. 

Once done, you should establish a strong working relationship with them and make long-term deals to get the required supplies. If you’re a vendor selling to Amazon itself, then you should ask for all relevant expectations they have from a vendor before you sign a supply contract. 

Build The Applicable Vendor Management System

Once you’ve confirmed your business goals and selected a suitable vendor, you should proceed with building the VMS. You can either do this by hiring/designating a dedicated team or by outsourcing it. They will be responsible for all of its activities like ordering products, checking vendor performance, payment processing, recording, etc. 

Ensure Goal Achievement and Stakeholder Involvement

The relationship you have as a seller with your vendors, and with Amazon, if you're a vendor, is kept strong by ensuring that all agreed-upon goals are met on time. Steady and clear communication between the parties involved is a must to accomplish it. The tools necessary for communication and other activities should be shared as well to help coordinate better. 

Also, all relevant stakeholders of your organization should be involved in this entire process. This ensures that there's a decision conflict at any point due to one or more applicable persons not being aware of what’s happening. 

The Stages Of A VMS Creation

The many stages of a VMS creation are as follows:

1. Forward Your Goals and Priorities

Once you’ve set your business goals, share them with your vendors. It will help them assess your requirements and begin the necessary communications. This is vital for your vendor management strategy as it helps vendors better predict your order fulfillment needs. They can then self-assess to check if they can meet that demand and what changes they should make to keep up if they are not there. 

If you’re a vendor, ask for Amazon's goals and priorities in detail and determine what they are looking to get out of you. It will help you get an idea of your standing concerning their demands. 

2. Select Your Vendor

Shortlist a few candidate vendors for your order fulfillment needs who can do it with minimal risk and low costs. Meet with your potential vendors and hear out their concerns. If you find that you are comfortable with what they can bring to the table, then you can go with onboarding them. 

If you’re a vendor getting assessed by Amazon for hiring, meet with a representative from the company and discuss all relevant factors before agreeing to become their vendor. 

3. Negotiate a Mutually-Agreeable Contract

Once confirmed, negotiate with your chosen vendor about the particulars of your business relationship. Ask about their business objectives to know if they match yours. Reach a middle ground that all parties can agree upon where the vendor doesn't feel stressed to deliver on time and speed requirements at the cost of quality and prices. Create a few contract drafts and share them with vendors before signing on the final version after changes have been made to it that satisfy everyone. 

If you’re a vendor dealing directly with Amazon, then you should put forth your concerns to them clearly and ask for contract customization if needed. Only sign it after you’re satisfied with its terms and conditions. 

4. Get The Appropriate Tools

A complex task like vendor management requires the right technological tools to get accomplished. Select the right software and hardware in the market after assessing your requirements and their prices. It’s best to go with cloud services as on-site systems are prone to security and other issues. 

Better still, outsource the VMS tasks to a professional agency that has the necessary infrastructure in place. Outsourcing is also applicable if you're a vendor dealing with Amazon. You may get a discount for using their AWS cloud facility. 

5. Track Relevant KPIs and Communicate Regularly

Keep the lines of communication with your vendors open at all times. Schedule meetings regularly to determine present status and future courses. Use the relevant tools to track all applicable KPIs and provide the reports of their data analysis to vendors during communications. 

Have troubleshooting mechanisms in place to handle untoward situations. As a vendor yourself, ask for similar reports from Amazon regularly and question any gaps you may have in your communication. 

In Conclusion

Vendor management is a critical factor in keeping your customers happy with the timely fulfillment of quality products. It even helps ancillary tasks like Amazon PPC services since product listings can get done with confirmation of quantity, price, and other influential factors necessary to rank high. Continue to keep up with the negotiated terms and conditions of the contract with a solid VMS and you will have a thriving online business with a reputed brand. 

One of the most popular ways of making a living online nowadays is through an e-commerce store. E-commerce essentially implies buying and selling products or services online. As you can imagine, the competition is pretty high. There are some basic aspects every e-commerce store needs to function. However, to stand out from the crowd, you should consider some additional technological aspects you can implement. These technologies are increasingly advanced and as such, they have the power to personalize the whole shopping experience. Moreover, they can improve customer service and in that way boost e-commerce sales. 

To stay ahead of your competition, you can consider implementing some of the new and advanced technologies. For instance, you can start with an e-commerce ERP, which enables you to manage your business with a single software. Then, you can consider using an omnichannel platform - it enables you to integrate both sales and communication channels into your e-commerce store. Customers really love when online stores use the artificial intelligence feature that includes a smart recommendation system and a smart search - more on that later. Moreover, there are various handy pricing tools you can use to compare prices with your major competitors. 

1. E-commerce ERP

The special business managing software ERP has also a special software alternative made specifically for e-commerce. Such software is used to manage all aspects of your e-commerce business, including finances, inventory control and invoice issuance. It is a great business addition as it automates and optimizes tasks. Besides that, it also creates various reports that can be of great help when it comes to important decision-making. It has plenty of benefits for an e-commerce business. Its handy features make it an indispensable digital tool for doing business successfully nowadays. You can look up all its features online and see how it works. 

2. An omnichannel platform

Omnichannel platforms are used nowadays to stay ahead of the competition and increase profitability. This kind of platform enables you to combine sales and communication channels in your e-commerce store. You can place all the aspects into one platform, including online and physical stores, social networks and applications with the mutual aim of attracting, serving and keeping customers. This is also a great way to keep all the useful information obtained about the customers from multiple channels. In turn, the information can be used to enhance the shopping experience. 

The online shopping experience needs to be a positive one - the same as in the physical store. That means certain things regarding product management and organisation. For instance, if your e-commerce store is selling clothes, you should organize wholesale clothing in a neat and logical way, ideally in categories. That makes it easier for your potential customers to locate the items they need.

3. A smart recommendation system

A smart recommendation system feature is another feature that customers really love. Besides that, it is also a powerful tool for making higher revenue. It is believed to be the most effective e-commerce technology resource to attract, convert and retain customers. This feature uses data analysis to compose a smart virtual display of products. It shows you product suggestions, facilitating further shopping. These systems can even be customized for every shopper personally. 

4. Smart search

Currently, one of the most popular high-tech features that are implemented in e-commerce stores is a smart search. This handy option gives the customer the opportunity to search the virtual store in an optimal way. This is a crucial thing to include in your e-commerce website as the statistics show that more than 60% of sales come from the search box. Your website should show the right results quickly to have a customer buy it. A smart search has a few characteristics. It is fast and highly responsive, it has phonetic similarity features, colour search which is 100% automated; behavioural search personalized for each customer as well as voice and image search.

5. Handy pricing tools

If you run an e-commerce store in a highly competitive field, you should have in mind the prices of your competition for the same product you’re offering. A handy, quick and easy way to do that is with some pricing tools. You can use this tool to compare prices in real-time. This can help you make decisions that will make a difference in conversions. You can also compare additional features such as stock availability and shipping conditions offered by them.

These are just some of the aspects you can consider for your e-commerce store - there are plenty more. Look them up online, and choose the best ones for you. Remember that technology is developing quickly so you should always be up to date.

Do you know the proper backend framework can cut short website development hours by nearly 30%? And that's not all. Your choice of backend framework will largely determine websites' scalability, testing, database support, and other factors. So is Laravel the best framework for eCommerce web solutions? 

Unlike a generic business website, an eCommerce website has to handle more traffic, support more pages, and ensure more robust customer data security. Laravel, an open-source PHP framework, has become incredibly popular for eCommerce website development services.

What is Laravel?

Laravel is an open-source PHP framework designed to build modern, secure real-time web applications. It is beneficial for teams, keeping everyone in sync.

It comes packed with built-in tools, libraries, and commands. Since its release, the Laravel framework has surpassed competing PHP frameworks like Zend, Symfony, and CodeIgniter in popularity, according to Google Trends.

Here’s why you should choose Laravel for eCommerce Website Development over other options

Here are all the reasons you should consider Laravel for eCommerce Website Development.

Easy to Learn and Use

Laravel has a short learning curve compared to other frameworks, especially if you're already familiar with PHP. Even if you get stuck, the community is helpful. If there is some feature or functionality you need help with, there are many resources online, including podcasts, videos, and written tutorials. 

Moreover, Laravel has free packages and libraries(more than 20) that can get you started with website development in seconds. You are only required to pay for the services offered by a laravel web development company, and you can use these features without paying any other charges.

Secure Architecture

Maintaining the security of sensitive customer data is just as crucial to eCommerce platforms as other aspects of the business. With support for multiple payment gateways, the security of customer data becomes a top priority. 

One thing that makes Laravel stand out from other frameworks is its unprecedented e-commerce site security. Native defenses protect the backend database against cross-site scripting (XSS), cross-site request forgery (CSRF), and SQL injection.

Laravel takes web security to the next level with out-of-the-box authentication and authorization, email verification, built-in encrypter (OpenSSL), and hashing. Additionally, Laravel can reduce website hacking via code injection because it serves as an intermediary layer, intercepting front-end requests to the server.

Easy to Scale

Using Laravel to create a new eCommerce store or update an existing one to Laravel is easy and hassle-free. A developer or a seasoned Laravel web app development company can do that to the utmost precision. The platform also enables you to launch a smaller-scale eCommerce business and eventually scale it up.

Database Support

If you are familiar with the databases that Laravel supports, there won't be any restrictions on the kind of interaction you can build between the database and the web app.

Postgres, MySQL, SQLite, and SQL are the four database system types that Laravel presently supports. It further makes interaction with these databases simple and enjoyable using Eloquent ORM, raw SQL, and the fluent query builder.

The Eloquent ORM is Laravel's built-in ORM implementation. Laravel has the best Object-relational Mapper compared to the other frameworks. You can interact with your database objects with Object-relational mapping and relationships using expressive syntax.

High-performance Stores

Whatever it is—a website, an online business, or anything else—it needs to run smoothly to provide users with a top-notch experience. Laravel supports backend caching. When data is accessed, the website can use the cache rather than requesting information from the database. 

This tactic is advantageous since it can increase the speed and scalability of the site and prevent repeated data queries. Additionally, caching makes data accessible when a data source is momentarily unavailable.

In simpler terms, your eCommerce website will be free from undesirable lags and sluggish load times. It also enables programmers to take advantage of extra productivity and performance optimization strategies, such as reducing database indexing and memory usage.

Automated and Unit Testing Feature

Any eCommerce solution will have many advanced features, components, and functionalities. For s successful launch, these components and features must be rigorously tested. Laravel comes with PHP Unit testing support out of the box. 

You can test each module or component of your application using the PHP Laravel framework's unit testing functionality to ensure the integrated application functions correctly when all the modules are added together. 

The Laravel framework makes it quicker to check that your eCommerce website functions properly by supporting automation testing. It provides straightforward techniques for simulating users' everyday actions (such as submitting queries, placing orders, updating delivery addresses, and making payments)

SEO-Friendly by Design

Laravel is Seo-friendly by design. It comes with caching support out-of-the-box, which boosts the site's performance and makes it searchable online. Additionally, you can dynamically define your titles and keywords based on each product page.

With Laravel, you can generate URLs that are search engine friendly. Search engines will index and rank your eCommerce website quickly.

Should you hire a Laravel Web Development Company?

Laravel offers a relatively low learning curve, yet it still necessitates a solid foundation in PHP development. Developing eCommerce web solutions will be a breeze with a PHP development team. You will most likely need to hire a skilled Laravel project manager.

However, hiring a Laravel web development company is always a wise choice if you don't have the skillset in-house. Expert and experienced Laravel developers can provide you with a reliable solution in less time. Additionally, you can always keep time and resources available for other, more critical business components like the sales team, the customer service team, and the logistics team.

Simple eCommerce Website Cost in Laravel

The project scope and the number of development hours significantly impact the price. In general, agencies bill by the hour. In the US, developers charge between $100 and $150 per hour. Depending on the features of your website and the cost to launch it, a progressive web application can cost anywhere between $25,000 and $250,000.

To Summarize

The Laravel framework offers eCommerce developers unprecedented freedom to make unique, non-restrictive e-commerce websites. It provides unrivaled site security. A Laravel-built eCommerce website is also simple to scale and maintain. Not to forget the excellent community support. Whenever you are stuck or facing any issue, help is always nearby. 

Go hire a laravel web development company for your eCommerce store today without further ado. 

Author Bio

Julie Aplustill is a renowned content marketer from California, USA, associated with Closeloop Technologies - a trusted software and eCommerce website development company. She also loves to share her views on the latest digital technologies, web development trends, augmented reality and prefers diverse niches.

If you're an Amazon seller, you're probably already aware of the importance of data analysis and reporting. Selling on Amazon requires in-depth data analysis and reporting to ensure that you're making the most of your business. And if you've been selling on Amazon for a while and have accumulated a large number of product listings, it's important to analyze your sales data regularly. However, there are several Amazon analytics tools available that make your task a lot easier.

Read this article to get the complete details about Amazon Analytics.

What is Amazon data analytics?

Amazon data analytics is a set of processes and tools that help you analyze and make improvements to your Amazon business. It's important for Amazon sellers to understand how data analytics can help improve their businesses, so here are some examples:

Product Comparison: Sometimes, it can be difficult to determine which products should be included in your categories or on your product pages. By using Amazon analytics tools, you'll be able to determine which products are performing well and provide suggestions for other similar products that might be more successful.

Customer Reviews: Customer reviews play a huge role in determining whether or not someone will buy a particular product. This is why it's important to keep track of customer reviews so that you can see what customers have said about your products and make necessary changes if required.

Why is Data Analysis So Important For Amazon Marketplace Sellers?

Selling on Amazon is a numbers game. The more products you sell, the more money you'll make. But there are many other factors that go into making sales on Amazon. You need to know which products are selling well and which aren't so well-liked by your customers so that you can improve your product line and make more sales.

How Often Should I Review My Amazon Product Sales Data?

Amazon product sales data is the lifeblood of your Amazon business. With this data, you can track key metrics about your products, analyze trends and make decisions that improve your business.

The key question is, "How often should I review and analyze my Amazon product sales data?" 

The quick and simple answer to this question is, "you can review your Amazon product sales data on a daily basis."

It is ideal for dealing with uncertainties if we regularly check rather than weekly or monthly.

Which Data Analysis Tools are Recommended for Amazon Sellers?

There are several Amazon analytics tools available on the web like:

• Helium 10
• Jungle Scout
• Scale Insights
• Seller Labs
• Sellics
• AdBadger
• Teikametrics
• DataHawk
• Trendle
• ManageByStats
• Pacvue
• BidX
• Zon.Tools
• AMZ Tracker, etc

Amazon sellers can use any of them as per their requirements.

What is the Best Way to Analyze My Amazon Marketplace Sellers Data?

Sellers use all the above-listed Amazon analytics tools to track their performance, analyze data and make key decisions. These tools can help you collect data on your own listings. Moreover, these tools can also help you gain insight into your customers' behavior and improve the experience they have while shopping on your store or website.

How Do I Use Key Performance Indicators To Make Improvement Decisions on my Amazon Marketplace Seller Account?

Key performance indicators (KPIs) are a set of metrics that help you measure how well you're doing as an ecommerce business owner. Businesses use them to assess how effectively they're managing their resources and how effectively they're operating to optimize their operations and increase revenue. 

When it comes to running an Amazon store, KPIs are important because they help you measure whether or not your business is on track with its goals, whether or not it's doing what it should be doing, and whether or not it's meeting projected sales targets for the year.

Final Verdict

Hammering the final nail, it can be concluded that there is no need to let your company stagnate! Amazon analytics tools can help you figure out what needs to change so you can adjust and make more sales.

I hope you find this article useful and interesting. Stay tuned to learn more about the Amazon marketplace, FBA tools, Amazon PPC automation software, Amazon PPC, and more!

In 2017, almost 50% of all SMBs said that they don’t use any inventory tracking method or at least use manual methods, which are not very effective. Fast forward to today, technology has evolved and Real-time Inventory Management solutions have become accessible to both small and large businesses. If you are in eCommerce such as B2B or B2C, you can keep inventory updated with affordable inventory management solutions.

So, what is Real-time Inventory Management? Simply, this is an automated process that records the stock in and out of a business, and everything in between. The software, app, or platform gives you a clear picture of what is happening with the inventory system and lets you make informed decisions and react fast to supply chain needs.

Features of a Real-time Inventory Management Solution

Whether you intend to use a Real-time Inventory Management solution as part of the eCommerce solution such as Virto Commerce or as an integration with your other solutions, you should ensure it has all the important features to solve your inventory challenges.

• Effective real-time tracking – This is a feature that helps the vendor to see sales orders in stock position, goods in, sales, warehouse transfers, reserves components, and so forth. The goal of a Real-time Inventory Management solution is to show such data in real time and provide accurate reports whenever they are needed. 
  
  
• Proper reporting – Apart from seeing data in real-time on different platforms, proper reporting is important, especially when a business needs to assess the status of the business in detail. Consider a Real-time Inventory Management solution with elaborate reports that are clear, and easy to understand. 
  
  
• Unlimited SKU – Whether your business is a B2B or B2C, you should not be limited to the stock levels you can maintain in the system. Unlimited SKU (stock keeping unit) is trendy in modern eCommerce and you should not be left behind. 
  
  
• Batch tracking – This is a crucial feature for B2B that sells products on a wholesale basis. Apart from showing you the stock in and out of the warehouse, the vendor will also be on top of things like expiry dates, damages, and a lot more. 
  
  
• Serial number tracking – Another crucial feature is serial number tracking which is almost similar to batch tracking. It is important for retail outlets, as well as, any other vendor to identify their goods with a unique identifier for ease of management. A bar code scanning feature is also a crucial feature of serial number tracking. 
  
  
• Inventory forecasting – Lastly, let's mention forecasting as an important feature of a Real-time Inventory Management solution. Although this is not a feature you may point out, the solution should accomplish it using various capabilities such as powerful insights, reports, clear real-time data, and more.

Benefits of Real-time Inventory Management

After choosing the most appropriate Real-time Inventory Management solution, and putting it in place, your business will enjoy numerous benefits, it does not matter whether it is a small business or a big business.

• Prevents stock-outs – One of the dreaded events in an eCommerce business is running out of stock when the demand is still high. In fact, some eCommerce marketplaces may ban a vendor who keeps running out of stock. After all, it affects the reputation of the marketplace negatively. With effective Real-time Inventory Management, running out of stock will be a thing of the past, because it will keep tabs of the.
  
  
• Reduces unnecessary costs – Businesses spend a lot of unnecessary financial resources on this that could be avoided. An effective real-time inventory solution prevents expiry before sales, shows areas with wastage in stock, and ensures a controlled production to meet the supply chain needs. With this, an eCommerce will prevent a lot of wastage. 
  
  
• Integration and modern solutions – Fortunately, modern Real-time Inventory Management solutions are highly compatible with other solutions. These integrations reduce time wastage and reduce the chances of errors. They also come with alerts to ensure you do not miss anything. But the best thing is that you can use the platform as an app on your phone, or access the software from anywhere through cloud connectivity. 
  
  
• Inventory security and safety – Modern Real-time Inventory Management solutions use data encryption to increase data security, especially when communicating. Additionally, they make data back-up to ensure that everything is safe. Vendors may only be allowed to customize a few features while the solution does most of the back-end security operations. 
  
  
• Improved customer experience – A Real-time Inventory Management solution has a ripple effect on customer experience. Imagine running a business where customers never miss their favorite products because there are no stocks-out, or get improved products because the seller understands the supply chain demands.

Final Words

A Real-time Inventory Management solution is an important solution for any eCommerce business. All you need to get the best is to ensure the right features are available, and that it is integrated well with your existing solutions. In fact, you could enjoy more benefits than what we have if discussed in this article. It is time to take your business to the next level.