Facebook and Libra are Preparing to Shakeup the E-commerce World

Libra would allow even the unbanked to shop online. August 20, 2019 8 min read Opinions expressed by Entrepreneur contributors are their own. Chances are, if you’re a merchant and you’re selling goods via Facebook, you’ve heard about Libra. Libra is one of the hottest topics around the globe right now, with everyone from politicians to the general public discussing its incredible potential. If all goes as planned and Facebook manages to get Libra off the ground, businesses and merchants will have an incredibly powerful tool at their disposal to help increase sales and boost their bottom line. Let’s meet Libra. For the uninitiated, let’s get into Libra and explore exactly what it is and how it can help entrepreneurs supercharge their Facebook stores. Libra is going to be a digital currency that’s backed by financial assets and U.S. Treasury securities, meaning that it won’t be volatile like other digital currencies. […]

Read more

How to Massively Grow Your Amazon Business in 8 Steps

Increase your conversion rate by 20 percent with these simple tips. June 17, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. This article was written by Matt Clark, co-founder and chairman of Amazing.com and co-creator of Amazing Selling Machine, who is an Advisor in The Oracles.  So you’ve launched your Amazon business and are ready to grow your sales. How do you stand out among the millions of other sellers? Focus on two factors: traffic, or the number of people who visit your page, and conversion rate, meaning the percentage of them who purchase your product. It’s a common misconception, but more traffic doesn’t necessarily mean more profit. You must be able to convert that traffic into sales — which starts by optimizing your product page. Here are eight steps to creating the perfect page. 1. Analyze your data. First, you need a benchmark. You can […]

Read more

Online Grocery Recommendations Are Lacking. 3 Young Entrepreneurs Have Created an AI-Powered Solution.

Most grocer sites ask if you’d like some toilet paper with your carrots. Halla employs AI to recommend products that make sense. June 11, 2019 4 min read Not many people buy their groceries online — only about 3 percent of all food purchases are made through the internet, according to a report by Deutsche Bank. But those rates will steadily increase over the coming years, according to analysts, and one area of online grocery shopping needs significant improvements: product recommendations. Many grocers don’t even offer product recommendations. But when they do, they tend to suck. For example, peruse the biggest two players in grocery ecommerce now and they’ll recommend the following to go with your egg purchase: chunk chicken breast and vienna sausage (Walmart) avocados and milk (Amazon). The latter is a bit better, but it stands to reason that most people would buy bread, cheese or flour with […]

Read more

This Tool Helps You Better Understand Your Site’s Visitors

HumCommerce increases conversion rates by helping you understand exactly how visitors interact with your online store. May 4, 2019 3 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. Your online shop is where you show off the products and services you’ve worked on as an entrepreneur. Completing your site pages is a huge accomplishment. However, sometimes when you’ve worked on a project for a while, you and your team can develop tunnel vision about how a customer might view and use your site. If your analytics say that you’re getting plenty of visitors, but those visitors aren’t returning or converting into sales, you’ll need to dig deep to figure out what’s going on. HumCommerce is a powerful suite of […]

Read more

Cannabis Retailers Need Answers to These 6 Questions Before Choosing an Ecommerce Partner

Ecommerce is important, so put providers to the test. April 23, 2019 4 min read Opinions expressed by Green Entrepreneur contributors are their own. Ecommerce is becoming a vital component of the cannabis customer journey. Letting people shop for cannabis like they shop for everything else just makes good business sense. Customers (or patients, depending on which state you’re talking about) want to peruse your menu, place orders for pickup or delivery, and do everything they are accustomed to when ordering detergent, shoes or a California burrito. There are several ecommerce providers in the space, all with vastly different core competencies and value propositions. Here are some key questions to ask your prospective provider to ensure you can acquire and retain loyal online shoppers — and crush the competition. Question 1: Do you integrate with any and all POS systems? The point of sale game in cannabis is crowded and retailers switch […]

Read more

Can You Still Make Money Dropshipping in 2019?

The short answer is no. April 21, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. Ecommerce continues to grow at a breakneck pace, with virtually every business and aspiring entrepreneur trying to make a buck one way or another via digital salesmanship. Nonetheless, certain ecommerce strategies are sounder than others, and some tactics like dropshipping have become less popular over time, thanks to new constraints that make it less profitable. 2019 is a year as disruptive and confusing as ever, though, making it an open question as to whether dropshipping is entirely dead or not. Many continue to assert that dropshipping is a surefire way to earn a profit. Can you still make money dropshipping in 2019? Related: 6 Routine Mistakes People Make When Setting Up a Dropshipping Online Store Customers simply must be a priority. The truth of the matter is that dropshipping is only […]

Read more

Hey, Elon Musk, Here’s What to Do Before You Launch Your New Tequila Brand, ‘Teslaquila’

Move over, electric cars and space exploration: The world’s most famous entrepreneur is jumping into the online alcohol biz. Here’s advice from someone in that industry. February 20, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. Last October 12, Elon Musk tweeted that the Tesla-branded Tequila, “Teslaquila,” which started out as an April Fool’s joke, was “coming soon”; he filed for a trademark that same week. Although Musk has had success in many avenues, from electric cars to flamethrowers, he may not have realized the challenges he faces to break into the alcohol industry, especially if he plans to sell his agave liquor online. As the CEO of Thirstie, I work with alcohol brands marketing through ecommerce, so I just might have some sage advice. Related: Need a Drink? This Startup Will Deliver Booze On Demand. That advice may be warranted because, today, online alcohol sales are still in their infancy, with less than […]

Read more

4 Simple Ways to Use Social Media to Find ‘Warm’ Ecommerce Customers

These ‘warm’ customers are just like GoldiIocks — interested in the porridge that’s ‘just right.’ They’re also exactly the people you want to target. February 4, 2019 7 min read Opinions expressed by Entrepreneur contributors are their own. Back in the good old days, businesses drove commerce by buying ads in the local newspaper, renting space on a billboard or calling people out of a phone book. Customers came to a physical storefront to do their shopping, and each business had a very limited geographical sphere that it worked in. Related: 5 Things Ecommerce Customers Actually Want From Your Store What a different world we have today: Many businesses don’t have a physical storefront or even see their customers. They sell to people all over the planet, and instead of buying ad space in the local paper, they compete for SEO rankings. As the world of commerce continues to change, the role […]

Read more

4 Ecommerce Trends to Watch Carefully for in 2019

As the online retail space grows ever more competitive, entrepreneurs will need to adapt. January 23, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. Ecommerce enjoyed a record-breaking year in 2018, with global sales revenues estimated to have reached $2.8 trillion, according to Statista. This year, this figure is expected to rise to $3.5 trillion. To put this in perspective, if the ecommerce industry were a country, it would slot into the fifth spot, ahead of the United Kingdom, whose GDP as of April 2018 was $2.61 trillion.   Related: 3 Ecommerce Trends You Must Prepare for in 2019 With such eye-opening figures, it’s little wonder there’s so much excitement surrounding the future of online retail. Amid all the hype about ecommerce, it’s easy to forget that this segment accounts for just 11.9 percent of the total retail sales around the world. Therefore, the market holds an extraordinary capacity for growth over the next decade.  Below, I identify the four trends that ecommerce entrepreneurs should pay […]

Read more

3 Ecommerce Trends You Must Prepare for in 2019

The ecommerce explosion continues, but there’s also an element of evolution. To take your ecommerce presence to the next level, take advantage of these emerging trends. January 1, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Retail ecommerce sales continue trending upward, and consumer confidence has reached an 18-year high. Conditions are ripe for brands with an established ecommerce presence, but that doesn’t mean business as usual will always suffice. Instead, the organizations that excel will be those with a forward-thinking approach to ecommerce. Ecommerce is thriving because enough companies have kept up with changing technology and consumer expectations. For example, as mobile purchases increased in popularity, ecommerce retailers began specifically catering to this shopping avenue. Mobile purchases constituted the majority of ecommerce sales in 2016, and eMarketer estimates that 72.9 percent of online purchases will be made on a mobile device by 2021. Device preferences […]

Read more

Online Retailers Are Now Tax Collectors

The impacts of the Supreme Court decision are now being felt by ecommerce sellers — just in time for Black Friday. November 22, 2018 4 min read Opinions expressed by Entrepreneur contributors are their own. South Dakota is known for Mount Rushmore, the Black Hills and — since June — shaking ecommerce to its core. The state made internet history in June when it challenged online retailers Wayfair, Overstock and Newegg to collect sales tax despite their lack of physical presence in South Dakota. In taking its case to the Supreme Court and winning, South Dakota reshaped ecommerce taxation. The Wayfair decision overturned the precedent set by the Quill case, a ‘90s Supreme Court decision, based on a ‘60s decision, establishing that retailers didn’t have to collect state sales taxes unless they were physically present — in other words, had people or property — there. Related: The Supreme Court’s Decision […]

Read more

5 Ways Ecommerce Brands Create Strong Communities

Consumers have their pick of online retail sites. Make yours irresistible to even the most skeptical of the bunch by forging a tight-knit community of brand supporters. November 20, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. If survey research by Forrester is any indication, brands have to make up some serious ground with skeptical customers. Consumers show an increased reluctance to give loyalty to companies. In fact, they’re being downright stingy when it comes to offering repeat business and referrals, and online businesses are granted no exception. Fortunately, retail businesses don’t have to take it on the chin, especially when the National Retail Federation predicts that holiday shoppers are ready to spend 4.1 percent more than last year. So how can ecommerce retailers drum up more business this season? Brands that are laser-focused on winning customers and influencing prospects have a secret weapon. It’s called […]

Read more

To Keep Up as an Ecommerce Business, Recognize That It May Be Time to Expand

A new survey of ecommerce professionals shows the industry is bullish. October 12, 2018 4 min read Opinions expressed by Entrepreneur contributors are their own. Contrary to popular belief, the most valuable resource for entrepreneurs isn’t money. Instead, it’s information. Think about it — you won’t see a penny of investment funds or revenue if you don’t know what you’re talking about. In the world of ecommerce, understanding your market and knowing what your competition is doing is critical. Related: 5 Ecommerce Secrets the ‘Experts’ Aren’t Willing to Share With You Hiring an analyst or funding your own major study sounds great in theory, but the associated costs in terms of time and money may not be in the cards. If this is the case, how do you obtain this information to get a leg up on your competitors? One source: the Ecommerce Performance Indicators and Confidence (EPIC) study. Published by […]

Read more

Everything You Need to Know About Instagram’s New Shopping Features

The app is giving influencers and brands new channels on which consumers can discover them. September 18, 2018 2 min read Influencers and brands have two new ways to sell products to users scrolling and tapping through their Instagram feeds. After a summer of testing shopping buttons that drive purchases via Stories, the Facebook-owned app has launched them for businesses in 46 countries. It’s also begun rolling out a personalized shopping section in the Explore tab, which Instagram redesigned earlier this year to feature AI-powered channels categorizing content based on topic (e.g. travel, art, decor). The shopping tab will be a place for users who know they want to browse and potentially buy, with Instagram’s algorithm serving up brands the user already follows or would likely be into, based on past activity on the app. Meanwhile, the shopping bag stickers in Stories will give users a chance to not just […]

Read more

Is Drop Shipping Really a Good Idea?

Weebly founder David Rusenko isn’t a fan of drop shipping. He believes we’ve flooded the world with enough cheap crap. We don’t need any more middlemen flooding out Instagram feeds with knock-offs. But is he right? What’s wrong with middlemen doing the marketing legwork? I’ve been around the web a time or two and have seen drop shipping touted as the next affiliate marketing. But I’ve encountered few who’ve made it work. Here’s why you should be careful with one of the hottest trends in e-commerce right now. 1. What is Drop Shipping? I use the word middleman literally. If you sell or make lanyards but don’t really care to market your lanyards, a drop shipper is a great way to get your product out there. A drop shipper essentially sets up shop and sells your product as if it’s theirs. Often, a drop shipper works directly through a wholesaler […]

Read more

Three Guaranteed Ways to Boost Your Mobile eCommerce Conversion Rates

In 2017, Black Friday and Cyber Monday Shopify alone saw a 10% increase in mobile sales and 67% of sales were mobile sales. If you haven’t figured it out by now, mobile trumps desktop use by two-thirds. Are you targeting the majority? If not, you’d better get on board this very second. Every moment you spend keeping a non-mobile-friendly e-commerce site alive is dollars lost. Even if you’re just turning the page and reconfiguring your e-commerce site, you can benefit from these five e-commerce conversion-boosting tips. 1. Does It Pass the Five-Second Test? A handshake takes a mere second to accomplish. One study in 2011 showed that if you have a weak handshake, you appear overly passive to anyone you meet. One second could equal a lasting impression in social situations. Fortunately, as an e-commerce guru, you have 5x more time to make an impression on your leads. That’s only […]

Read more

5 Hot Trends That Will Continue to Change Your Ecommerce Horizons in 2018

Chatbots, personalization, international sales and better protection against fraud are all helping you to sell more. Give thanks. July 13, 2018 8 min read Opinions expressed by Entrepreneur contributors are their own. Recent data released by the U.S. Census Bureau shows impressive growth for the ecommerce industry, with online revenue steadily eating into an additional 1.5 percent of total retail sales every year over the past several years. Related: It’s (Almost) Summertime, and Customers Are Distracted. Here Are 5 Ecommerce Trends You Need to Pay Attention to, to Keep Customers Listening. As retail giants and traditional storefronts continue to cut costs or even shut their doors, we can’t help but wonder how the future of ecommerce will look. Between the announcements that Toys R Us was filing for bankruptcy and Walmart had halted hiring for the holiday season, it’s clear that digital commerce is putting a big dent in its brick-and-mortar competitors. So what are the next growth frontiers in online retail? The […]

Read more

6 Ways to Quickly Improve Your Conversion Rate and Make More Money From Ecommerce

Optimize your digital strategy and make more money. July 11, 2018 6 min read Opinions expressed by Entrepreneur contributors are their own. It’s one thing to get people to visit your website. It’s quite another to attract qualified leads who will ultimately turn into paying customers. When you run an e-commerce business, learning to master this distinction and optimize your conversion rate is essential if you ever wish to generate a profit. The thing is, running an e-commerce store isn’t the same as other entrepreneurial endeavors. Networking and other popular B2B sales tools aren’t as applicable when trying to reach the everyday consumer. So how do you improve your conversion rate and build a strong base of loyal customers? Here’s a closer look at some of the things you can do that will help you learn how to best optimize your efforts. 1. Narrow your target audience. Far too many e-commerce […]

Read more

5 eCommerce Tips to Help You Compete With the Big Kids

In a world where two internet giants own the entire eCommerce world, one lone entrepreneur seeks to steal the coveted “Piece of the Pie.” Many have failed, a handful have succeeded. It is up to you, entrepreneur, to convert leads and sell products. How will you proceed? The battle for the eCommerce sphere continually feels like some Hollywood blockbuster script. And it might seem like you’re the underdog, nay, the sewer rat, in this game. But with eCommerce sales predicted to hit over 4 trillion dollars by 2020, there’s plenty of the market to go around. The question is, how do you break in? How do you build an ecommerce business to compete with the big boys? Well, I’ve got five tips to help you on your journey. 1. Remove Customer Fears Amazon’s reliance on the US Postal Service might seem like a boon at first glance. They’ve somehow cut […]

Read more

3 Branding Secrets for Ecommerce Success on Amazon

Going the extra mile is essential when building your ecommerce brand. May 13, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. When was the last time you purchased something from Amazon? If you are anything like me and most Americans, it probably wasn’t very long ago. In fact, in certain cities, you can have products delivered to your front door within hours of placing the order. Amazon has become the “everything store” that everyone knows and trusts, so using the platform to sell is a must for most ecommerce stores. Related: Guide to Starting a Fulfillment by Amazon Business Selling on Amazon has become a popular hustle, but with so many companies competing in a crowded market, how do you stand out? How do you compete with multimillion-dollar ecommerce empires and build a successful business through Amazon? I’m a big believer in asking those with situational knowledge […]

Read more
1 2