Accepting These Three Harsh Realities Will Increase Your Conversions

I remember starting my first business. I’m using “business” here very liberally. I played guitar in a band when I was fifteen, and I launched my band’s website where we sold CD-R’s burned with our demo recordings. Staring at my WordPress metrics and Paypal account waiting for orders to come in was a little heartbreaking. After a week, the only orders we had were our closest friends and my mom. I assumed success was as easy as putting up my…

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Why Centralized Inventory Management is the Key to Profitability in an Omnichannel World

By Brandon Levey, CEO of Stitch Labs. When it comes to retail profitability, a significant factor that’s often overlooked and under-optimized is inventory management. Your inventory is your greatest asset, but it can easily become one of your biggest liabilities. Annually, retailers lose $1.75 trillion due to overstocks, out-of-stocks, and preventable returns, and the combined impact of these inventory cost drivers typically results in up to 11.7% in lost revenue for individual retailers. That’s an 11% total revenue loss across…

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The Benefits and Challenges of Multichannel Selling

By Megan DeGruttola, Content Strategist at Stitch Labs. As the pace of today’s technology accelerates, the evolution of the retail landscape has also continued to advance. There are more channels to sell on and ways to reach shoppers than ever before, and smart retailers are taking advantage of these new virtual selling platforms. They understand the best way to fuel growth is by adopting a multichannel (or omni-channel) sales and brand strategy. Yet, the more sales channels and technologies you…

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How to Navigate Different Demographics Across Marketplaces

Nearly 70% of Americans shop online regularly. And why not? It’s convenient, easy, and rewarding, especially when consumers find a better deal than they would in brick and mortar stores. But of that 70%, who exactly is shopping online? And as a retailer, how can you target these demographics across various marketplaces? When you know who your customer is, you know how to interact with them. You’re not going to treat a 23 year old the same way you’d treat…

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3 Multichannel Tips to Improve Marketplace Performance

Choosing to adopt a multichannel selling strategy is a great step forward for your business, but it comes with a series of new obstacles you have to tackle. The largest is playing favorites. It’s hard to not play favorites when it comes to your selling channels, especially when one is your own webstore. Keeping a consistently high conversion rate on your own webstore is definitely important, but neglecting your other channels can be a costly mistake. If you’re selling on…

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