What is Merchandise?
Merchandise means buying and selling goods or commodities to another business or customer. Groceries at a supermarket, clothing in a retail store, gadgets on a website, or raw materials in a manufacturing facility are all examples of merchandise. If someone can sell or buy something, it is considered merchandise.
How does eCommerce merchandise work?
E-commerce merchandise refers to manufacturing or sourcing goods and selling them online through a platform. Here’s how eCommerce merchandise works
Step 1: Manufacture or source products
After researching your target market and audience, you manufacture the product or source products from a manufacturer or wholesaler.
Step 2: Set up an online store
Set up an online store on eCommerce platforms like Shopify and Woocommerce and integrate it with your supplier’s platform—list products on your store and set pricing for your products. Your eCommerce store will help your customers browse and purchase products directly.
Step 3: Inventory management
You can work with print-on-demand and dropshipping companies like Qikink to manage your business hassle-free without maintaining inventory. Or you can buy products in bulk and store them. Manage your inventory and keep track of the movement of your products to avoid stockouts and excess inventory.
Step 4: Promote your products online
Promote products online to generate sales and spread brand awareness. Implement marketing strategies to drive traffic to your website. You can also use digital marketing techniques such as social media advertising, search engine optimization (SEO), influencer collaborations, email marketing, and content marketing to attract potential customers.
Step 5: Order processing and fulfillment
After a customer purchases from your store, you fulfill the order or pass the order information to your supplier to fulfill the order on your behalf.
What are E-commerce Merchandising examples?
The top 3 e-commerce merchandising strategies are
1. Eye-catching homepage
To make your web page attractive, include large pictures, graphics, movies, and virtually any material that will catch the customer’s attention. It should also be simple to use. Consider the layout and collaborate with designers to build an appealing yet basic homepage, keeping in mind that it must be accessible on any device.
2. Make the Checkout Process Simple
A consumer’s purchasing choice can be emotional and difficult. You don’t want to do anything that could cause new clients to reconsider their views. Confusion or difficult checkout is a sure-fire method to put a stop to transactions.
Keeping track of abandoned carts is the best method to gauge this. Optimize the procedure to be as simple and easy as possible, even if it means paying a little extra for payment processing or user experience design.
3. Merchandising Based on Collections
Grouping your items into collections makes it much easier for customers to locate what they’re searching for and discover similar products to their initial reason for buying. This is ideal for customers with specific purchasing intents and general visitors who are interested in your brand but don’t know what they want just yet.
Best practices for online Merchandise store
Here are 5 best practices for online merchandise stores.
- Gather as much data about your target market and audience as possible\
- Make navigation simple, quick, and mobile-friendly.
- Examine competitor SEO rankings and target keywords.
- Invest in high-quality photos and excellent lighting. You may save money by creating your own photo collection.
- Promote products throughout the checkout process to encourage upselling or cross-selling.