A series of articles have been exploring ways via which e-commerce merchants can reduce their
expenses to ensure a maximum profit. They were advised to keep track of all
expenditures, to choose their courier company wisely and to optimise the use of
warehouse space. This post will look at two more tips.
Changing your inventory
Speaking about reducing storage costs, you can save some more money by removing
items that are not performing so well from your online store. However, you must think very well before changing
your inventory since this might upset regular customers. Nonetheless, if the
underperforming products are bulky, you might consider this option. Moreover,
selling fewer items can facilitate order fulfilment, which can reduce delays
during big sales periods.
Customer retention
One of your aims as an e-commerce merchant is to attract new clients. However,
alongside that, you must focus on customer retention. One of the benefits of
having regular shoppers is that you can design advertising strategies more
easily. As such, you spend less money on marketing for each sale. This means
that you should place a lot of importance on loyalty campaigns. To drive
up customer retention, you can leverage SMS and email
marketing and offer regular customers bonuses and special discounts.
Implement strategies to retain customers ©
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