Many retailers are considering eCommerce as an additional revenue stream for their store. And it’s no wonder: market research firm, eMarketer, projects e-commerce sales will eclipse $3.5 trillion within the next five years. And, they say the web will account for 7.3% of global retail sales this year, growing to 12.4% by 2019.
Finally, we know that people WANT to shop online. According to nChannel.com 60% of adult Americans are happy to know they won’t have to shop in a crowded mall or store. And 71% of shoppers believe they will get a better deal online than in stores.
As a small business eCommerce may seem daunting; and you probably have a lot of questions. How will you setup an online ordering system? Ensure secure checkout? What about managing and mailing out orders?
The answer to many of these questions is to partner with you suppliers’ Drop Ship program to gain product assortment and then work with your web team to install eCommerce capabilities into your current website.
What is Drop Shipping?
Drop Ship is a program by which your customers can order online from your company and have their order fulfilled by your supplier. The benefit to you is that you do not have to maintain the inventory or manage order fulfillment. For your customer the benefit is that they can buy the same great quality products they find in your store and have them delivered to their home.
Expanded your shelf!
Another benefit of Drop Ship is the ability to increase your inventory without increasing your product investment. While at Melrose we do not piece out sets for Drop Ship, our program will allow you to offer products that you don’t have the space for, don’t have the cash flow to invest in, or that just don’t work with your store model (but feel it would sell well).
Thinking about Drop Ship for eCommerce?
If you’re thinking about Drop Ship for your store, talk to your wholesale suppliers to find out which ones offer this service and work with your web team to create an eCommerce section to your website. Our eCommerce Coordinator, Teri McNeilly, can help you get started with Melrose. Reach out to her at firstname.lastname@example.org to get started.
As you consider how to increase revenue for your shop, consider eCommerce as a way to reach a greater number of shoppers with a larger product assortment than you can carry in your store. As you look at eCommerce make sure you consider secure ordering, website setup and how you will advertise your service to new and existing shoppers.
What are considerations for your store when it comes to eCommerce? Have you had success with a Drop Ship program? What other ways do you satisfy your shoppers’ desire for an increased product assortment? Share your story with us in the comments below.