Retail business operations comprise of several transactions, so the hassle in keeping things on track also increases. Readout this PPT and find how technology helps get rid of these hassles to keep business running smoothly. https://www.cogneesol.com/retail-wholesale-accounting-services

1. Top 6 Online Retail Hurdles
That Can Be Eliminated
With Technology
Cogneesol

2. A lot has changed in the online retail
market with the advancement of
technology as the graph shows a
steady climb from around 1% of retail
sales in 2000 to close to 16% in 2019.
(Source)

3. BY 2023, ONLINE RETAIL SALES IN
THE ASIA PACIFIC WOULD REACH
$2.5 TRILLION.
AMAZON COULD MAKE UP 50% OF
US E-COMMERCE SALES BY 2021.

4. However, the online market faces some hurdles
which can be eliminated with technology.
Following are the top six

5. SOLVING INVENTORY ISSUES
INVENTORY MANAGEMENT-

6. #1
PROBLEM: DIFFICULT ORDER
FULFILLMENT
Solution: Implementation of the inventory
management system can help automate
repetitive tasks related to order and
inventory. The software can also help you
redefine your warehouse space based on
picking needs and facilitate batch picking
over single picking.

7. #2
PROBLEM: ITEMS LOW OR OUT OF
STOCK
Solution: With an automated inventory
management system in place, you will never
run out of inventory, or will have enough
advance warning to notify customers or
compensate them in out-of-stock situations.
The software can also help teams identify
and prepare for seasonal rushes. Hence, the
system allows you to have perfectly
transparent inventory management.

8. ELIMINATING MANUAL WORKLOAD
AUTOMATION -

9. #3
PROBLEM: BURDEN OF MANUAL TASKS
Solution: If most of the tasks are done by hand, the
requirement of human capital increases, which can
prove to be time-consuming, costly, and prone to error.
Automating various aspects of a project leads to an
enormous boost in efficiency as it helps reduce
mistakes.
By the use of automation, the email marketing
messages and social media can be scheduled.
Automated notifications can be sent to the stakeholders
about their upcoming tasks. Payments can be
automated, and the ordering process can run 24/7.

10. Solution: In the online retail world, one-time
customers are prevalent, and it becomes hard to
create repeat customers, especially if you use
manual marketing methods. CRM software can be
used to automate the process of emailing a batch
of the targeted audience.
Automating the communication through defined
e-commerce software helps build customer
relationship and prompts them for repeat
#4
PROBLEM: ONE-TIME CUSTOMERS AND
LACK OF LOYALTY

11. ELIMINATING ONLINE RETAIL PROBLEMS
SHIPPING MANAGEMENT -

12. Solution: Shipping is a very crucial part of the
online retail system as shipments must reach the
customers on time.
A shipping management system will enable you to
choose the best shipping method for the best
price and also notify you of any delays in the
shipping process. This helps you to keep your
customers informed in advance.
#5
PROBLEM: SLOW SHIPPING

13. Solution: Reports show that at least 30% of online
purchases are returned. Hence, customers want
that, this process should be hassle-free and quick.
Manual methods in this regard can lead to
delayed processes and errors.
Shipping management systems can create and
send return postage labels, provide companies
with analytics on returns, and process returns and
approvals automatically. Using this software can
save you both time and effort.
#6
PROBLEM: DIFFICULT REFUNDS AND
RETURNS

14. Surviving the e-commerce competition
requires efficient strategies and perfect
implementation of the same. Utilizing the
above-mentioned technologies for various
hurdles that an online retail market faces
can help them achieve tremendous growth.
However, with the right technology in
place, human resources that have expertise
on this technology is also important.
CONCLUSION

15. AS AN E-COMMERCE BUSINESS, IF YOU ARE
THINKING OF OUTSOURCING YOUR PROCESSES,
CONTACT COGNEESOL..

16. Cogneesol is an expert in providing
accounting services for retail & wholesale
business and deals with processes related
to a large number of transactions. Our
professionals are trained on the latest
technology software and can help you run
your bookkeeping, inventory management
& updation processes with ease.

17. Contact Us
www.cogneesol.com
info@cogneesol.com
+1 646-688-2821