Do not Overlook Offline Sales: Integrate your E-commerce Website with Physical Store

 

Although the world is moving towards digitization and an e-commerce website may seem inevitable, offline sales are still relevant. Find out why physical store locations are useful to increase total sales and learn how to bridge the gap between your online and offline business.




To shop online or visit a brick-and-mortar store: This is the choice that every buyer has to make while making a purchase. And, as a smart entrepreneur, you need to offer customers with options and let them decide. In a world where online shopping is growing exponentially, brick-and-mortar stores are still relevant.

Why are Offline Sales Still Relevant?

In 2020, US e-commerce sales were 21.3% of the total retail sales. Although the number is higher than the ones in the past couple of years, it is proof that physical outlets still contribute a big chunk of total sales. Do you know why you should not overlook offline sales?

1. Maximize Average Revenue Per Customer

Offline sales or face-to-face sales allow you to maximize your average revenue per customer. When customers are shopping online, you can display related products to them. But, when you are selling in person, you can convince them about the benefits of buying complementary products. Customers can experience the relevance of the products in person, and thus, you get a chance to increase average sales.

2. The Ability to Evaluate the Customer

When a customer enters the brick-and-mortar store, your salesperson has the opportunity to evaluate the buyer’s behavior, learn more about his/her body language, understand his/her requirements in detail, and then offer an accurate solution. Sorting through a big product catalog online with search filters may provide convenience to a few shoppers. But, a majority of them prefer the human touch.

3. Higher Authenticity and Perceived Value

A few customers prefer in-store purchases because of the higher perceived value of physical stores. Instead of dealing with a seller over the web, customers feel that offline sales offer a higher value and greater authenticity. Credibility issues reduce when you can meet the seller in reality and evaluate the product in person instead of looking at pictures and videos online. Additionally, customers can save money on shipping by driving down to the nearest store.

4. Faster and More Accurate Feedback

Offline sales allow for faster feedback from customers. An experienced salesperson will draw out meaningful reviews from customers and offer valuable suggestions to improve their experience. If you are introducing a new product or a service, you can decode the customer response and make a few tweaks to improve the offering.

5. Build Long-Lasting Relations and Loyalty

The face-to-face sales technique is an effective way to establish a relationship and build a loyal following. A common fact is that it is cheaper to retain a customer than to sell to a new one. It makes sense if you build a relationship and leave a lasting impression on your customers. It will encourage them to visit your store and buy products often.

How to Bridge the Gap between Online E-commerce Website and Offline Store Locations?

Although the strategies for selling online and offline vary tremendously, this is for sure: Bridging the gap between bothand integrating them is necessary because, in the end, there is no such thing as good sales and bad sales. All sales are welcome. In addition to using in-store sales data to curate the online website, your e-commerce store should allow your customers to connect with the brick-and-mortar store.

1. Help Customers locate the Nearest Outlet

Display all the physical store locations on the website with the help of a dedicated Store Locator page. Create a drop-down list of all store locations and display them as location pins with exact GPS coordinates on Google Maps. Allow customers to locate the nearest pickup point by specifying the radius. This way, customers can select a convenient store outlet to finish their shopping.

2. Use Search Filters for Convenience

In addition to finding physical outlets within a specified radius range, you must provide search filters for a seamless customer shopping experience. It will enable them to filter the store locations based on different attributes such as country, state, city, and zip code. You can also include advanced filters such as currently open stores, new arrivals, brands, ongoing in-store discounts, etc.

3. Provide Accurate Store Information

If you want to bridge the gap between the online shopping experience and offline sales, provide as much store information as possible. Create separate pages for each store location and display updated store timings, contact numbers, email addresses, available payment methods, ongoing promotions, and stock availability. You can even show main product categories to encourage more revenue per customer.

4. Add “Store Availability” Feature to Each Product

If you want your customers to opt for in-store pickups, you can display product availability at the nearest physical locations. Provide a list of available products on the store detail page. Also, mention a list of store locations on the individual product detail page. So, customers will be able to navigate to the exact physical store directly from the product page.

5. Make In-Store Pickups Easier

Provide additional shipping options in the form of in-store pickups and curbside pickups at the time of checkout. This way, if customers want to save on shipping charges, they can opt for in-store pickups at a date and time of their convenience. Also, send reminder emails to customers when the order is ready for pickup. It will ensure a seamless transition from online shopping to offline product delivery.

6. Manage all physical stores in one

The one essential thing about bridging the gap between online and offline sales is convenience. As an entrepreneur, your e-commerce website should offer ease. With a simple CSV functionality to import/export physical store locations and store orders, you will be able to provide real-time information to customers. It will help them know if a specific store is open for pickup, store timings, and how to get their products on time. Include a mass order action feature so that you can process multiple in-store pickups simultaneously and manage the entire process effortlessly.

Magento Store Locator: Combine Online Shopping and Offline Sales

If you own a Magento e-commerce store, you are in luck! You will find that a well-built Magento Store Locator offers all functionalities to bridge the gap between online and offline sales. It will enable your online customers to find the directions to your nearest physical stores. The extension will make offline purchases and in-store pickups easier so that customers can save on shipping charges.

While choosing an extensionFind Article, check that it fulfills all criteria and contributes to higher sales. Work with a reputed Magento extension development company that can customize the module to fit your requirements. Seek tech support and learn more about the extension to make it work harder for you.

It’s time to integrate your online business with your offline stores!

 



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CSE news..

 

WindForce rings opening bell at CSE


CSE Chairman Dumith Fernando, WindForce Ltd. Chairman Ranil Pathirana, Vice Chairman Azki Akbar Ali, WindForce Ltd. MD Manjula Perera, WindForce Ltd. Director Moiz Najmadeen, and CSE Director Dilshan Weerasekara were among the attendees accompanied by CSE CEO Rajiv Bandara at the bell-ringing ceremony yesterday (22)

WindForce Ltd. marked its listing to the main board of the Colombo Stock Exchange (CSE) yesterday (22) by participating in the bell-ringing ceremony that is conducted upon the commencement of trading.

WindForce Ltd. Founding Chairman Janak Hirdaramani rang the bell after the opening of the market.

Making the opening remarks at the event, CSE Chairman Dumith Fernando mentioned that it was a remarkable day for the CSE as well, as WindForce Ltd. reached Rs. 3.2 billion in its Initial Public Offering (IPO) itself, the largest the CSE had seen since 2011, while giving the stock market “a significant boost”.

He further spoke of WindForce’s impact in terms of its renewable energy strategy whilst helping the planet and humanity combat climate change, adding: “Today is significant in terms of the company’s purpose,” referring to it being Earth Day.  

He also mentioned that it is one of the CSE’s goals to encourage both large and small companies to take the lead in their respective sectors.

WindForce Chairman Ranil Pathirana reminisced about the company’s initial days of establishment and its strategy in navigating the wind power sector when seeking private investment. Pathirana thanked the CSE on behalf of WindForce for expediting and supporting growth in the capital market of Sri Lanka. 

WindForce has been issued AA- (Stable) credit rating by ICRA Lanka Ltd., which is the highest rating given to a corporate in Sri Lanka at the time of the issuance by ICRA Lanka Ltd. WindForce is the first Sri Lankan company to establish solar plants in Pakistan, Ukraine, as well as in Uganda.

 

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How to Trade Commodities Online…

 


What is commodity trading? Is commodity trading profitable? How can you trade commodities online? Are you searching for answers? Watch this…..


story of commoditiy.....

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Nasa chooses SpaceX to build Moon lander

 



By Paul Rincon


This vehicle will carry the next man and the first woman down to the lunar surface under the space agency's Artemis programme.


Another goal of the programme will be to land the first person of colour on the Moon.


The lander is based on SpaceX's Starship craft, which is being tested at a site in southern Texas.



SpaceX was competing against a joint bid from traditional aerospace giants and Amazon founder Jeff Bezos, as well as Alabama-based Dynetics. The total value of the contract awarded to Musk's company is $2.89bn.


"With this award, Nasa and our partners will complete the first crewed demonstration mission to the surface of the Moon in the 21st century as the agency takes a step forward for women's equality and long-term deep space exploration," said Kathy Lueders,         

Elon Musk has been developing the Starship design for years. Resembling the rocketships from the golden age of science fiction, it is a crucial component of the entrepreneur's long-term plans for settling humans on Mars.


For now, though, it will serve as the lander that ferries astronauts from lunar orbit to the surface.


With a spacious cabin and two airlocks, allowing astronauts to exit the craft for moonwalks, it's a far cry from the cramped, spindly lunar module (LM) that carried 12 men to the surface under the US Apollo programme between 1969 and 1972.


In recent times, Nasa has chosen more than one company when procuring space transport services, giving it options if one of them fails to deliver.



But Nasa has received only $850m of the $3.3bn it requested from Congress to build the Moon lander. In a statement, Ms Lueders said that "while it remains the agency's desire to preserve a competitive environment at this stage of the HLS program", its current budget precluded it from selecting two companies, as it was expected to.


Cost is believed to have been a major factor; SpaceX's bid was the lowest of the three competitors "by a wide margin".


Ms Lueders explained: "I made a determination that it would be in the agency's best interests to make an initial, conditional selection of SpaceX."


The decision has caused a stir in Congress. Nasa is undergoing a transition of power following Joe Biden's election as President. It is being run by an interim administrator, and Mr Biden's pick to run the agency - former senator and astronaut Bill Nelson - will appear at his confirmation hearing next week.


"I am disappointed that the acting Nasa leadership decided to make such a consequential award prior to the arrival of a new permanent Nasa administrator and deputy administrator," said congresswoman Eddie Bernice Johnson, the democrat chair of the House Committee on Science, Space and Technology.



"The decision to make the award today also comes despite the obvious need for a re-baselining of Nasa's lunar exploration program, which has no realistic chance of returning US astronauts to the Moon by 2024."


Nasa is targeting the Moon's South Polar region for the first landing with astronauts since 1972. This area holds abundant deposits of water-ice, which could be turned into rocket fuel and breathable air to support a future lunar base.


But touching down here also presents challenges, because the angle of the Sun casts long shadows that obscure surface features as the craft comes down to land.


Engineers will need to navigate the problem as they refine their plans for the first Artemis landing.


SpaceX had been in a run-off against the National Team - consisting of Blue Origin (founded by Bezos), Lockheed Martin, Northrop Grumman and Draper - and defence contractor Dynetics.


It represents another milestone for the 19-year-old company founded by Musk, which initially had to overcome widespread scepticism about its plans to bring down the costs of spaceflight. SpaceX almost ran out of money, but was kept going by a fortuitous contract award from Nasa in 2008.


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How to Trade Commodities Online…

 

What is commodity trading? Is commodity trading profitable? How can you trade commodities online? Are you searching for answers? 


Commodities are an indispensable part of our lives. From the food, we consume to the oil we utilize in our vehicles. But, have you ever thought about trading these basic commodities in the market? Yes, the Commodity market is one of the largest markets across the globe. It excels the list when it comes to assets that can make you rich or double your profit. But, the majority of you do not know how to trade commodities online. 

 

In this article, we will explain each point in detail. We will wrap up the article by providing you the top broker's names who can push you towards success and boost your trading standards. Before reaching this point, we must look into the definition of a commodity and what commodity trading refers to? 

What are commodities?

A commodity refers to raw material or everyday items which is used for generating more complex items. One can see commodities as building blocks of the economy. Examples include sugar, gold, oil, copper, etc. The major factor differentiating goods from the commodity is that latter has interchangeability and is standardized in nature. It reflects two equal units of the similar commodity will be identical irrespective of the place they were produced. For instance, one ounce of silver mined in Australia will be equivalent to one ounce of silver mined in Brazil. 


What is commodity trading? 

Traders or people have been trading commodities for thousands of years. The only difference between modern commodity trading and conventional commodities trading is that people traded them physically in the past. Currently, trading occurs with the broker such as T1markets, HFTrading, etc. or on an exchange such as Chicago Mercantile Exchange or London Metal Exchange. To trade commodities online, you require an online trading account and ultra-modern trading platform that paves the way for the market and assets. 

Trading with the broker is safe and simple. It provides globally accepted MetaTrader 4, which has several advantages. These include more than 350 assets, a customized trading environment, multiple time frames, regular price alerts, latest market news, more than 60 analytical tools, lightning-fast speed, and trading on one click. 

Reasons to trade commodities online 

You must be wondering why traders are so interested in trading commodities online? What makes commodities a good investment? The answer lies in the following advantages listed below: 

1) Short selling commodities 

As commodities are traded online via CFDs, traders have the right to sell them instead of just purchasing them. It means that the value does not require to surge for traders to make gains. Moreover, unlike the stock market in the commodity market, there is no uptick rule. 

2) High returns on investment and high liquidity 

There are some goods, such as oil, gold which are relatively more volatile in comparison to others as numerous factors guide their prices. These factors include the economy's political conditions, financial status, climate, demand and supply of the commodity, and price variation due to new export and import rules or policies. Just because of these reasons, commodities can take short-term trading positions and can be very attractive. 

3) Suitable for diversifying your trading portfolio

Diversification of a trading portfolio is essential in trade. It is very well said that never keep all eggs in the same bucket. Diversifications mitigate the risk involved with trades. Commodities are an excellent way to diversify a portfolio. For instance, if you have spent on indices and stocks, analysts will always recommend adding any commodity (as per your wish) to your trading portfolio and trading them concurrently. It will help you when the stock market crashes suddenly or indices fall in value. 

4) Safe investment tool 

Whenever financial market price goes down, analysts advise people to invest in commodities as they are considered a safe investment tool at the time of sudden shock. The demand for essential items such as gold, oil, and corn always remains high. Trading commodity futures have shown tremendous results at the time of economic slowdown and market crash. 

How to trade commodities online? 

1) Opt for an online trading account: You require to open an online trading account to start trading. If you are a neophyte, you can opt for a demo trading account to practice trade with virtual cash for a limited time.

2) Choose a financial market and asset for trading: Firstly, choose the commodity market option and then select the asset you wish to trade CFDs or spread bet on. 

3) Choose to sell or buy commodities: If you think that prices are supposed to surge in the future, go long on your trade. On the other hand, if you think that price is supposed to decline, you may choose to go short on position. 

4) Enter a trade size: Choose how many CFDs or units you wish to trade or decide the spread betting or the amount per point movement. Keep in mind that in CFD trading, a single trade value can change based on the financial tool you have selected to trade. 

5) Apply risk management:  Financial risks are inevitable. They can land you in several problems, or you can even lose entire capital if not taken care of. Thus, including risk management strategies in your plan is essential. 

6) Monitor your trade: Once you have placed a trade, it requires continuous monitoring if you are day trading commodities. You must do this delicately as losses can even exceed your available balance or deposit. 

7) Close the trading position: If you have set the stop-loss order, the trade will automatically close when the price reaches the set level. However, if you are trading without a stop-loss order, you need to do this when the price falls manually. 

Top brokers to trade commodities online

Some trusted and top brokerage firm offering exceptional service at affordable fee include:

1) HFTrading 

2) T1markets 

3) PrimeFin 

The Bottom Line

If you are looking for the right opportunity in the financial market or a reward-generating instrument, you can choose to trade commodities online. It is one of the excellent methods to earn massive amounts from financial market trading. For this, you require a little bit of homework before entering the market. 


Frequently asked questions 

1) What is a commodity?

A commodity refers to raw material or everyday items which is used for generating more complex items. One can see commodities as building blocks of the economy. Examples include sugar, gold, oil, copper, etc.

2) What are the channels to trade commodities? 

You can trade commodities with a broker such as T1markets or with an exchange. But, a larger number of traders prefer trading with a reliable and trusted broker over exchanges. 

3) What are the advantages of trading commodities? 

The advantages of commodity trading, including short selling, provide high returns over investments, highly liquid, suitable for diversifying the trading portfolioArticle Submission, considered the safest instrument at times of economic slows down or market crash. 

 

 

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