The challenges of E-commerce businesses in nigeria - Ebook version
[TipTuesday] E-Commerce Options for Small Businesses
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Transcript of [TipTuesday] E-Commerce Options for Small Businesses
E-Commerce Optionsfor Small Businesses
THREE MAIN MODELS
Which is right for your business?
➔Store + Shipping➔Store + Pickup➔Shipping Only
1. Store + Shipping
Retailer sells both through a brick-and-mortar storefront and
online channel.
You don’t need to sell ALL of your in-store products online. Think about:
● Only selling most popular items online (or heavily stocked products)
● Selling a custom/specialty line of products online to reach larger customer
base (You’ll compete less on price if the items aren’t available from many other sellers)
● Great way to expand offering with digital catalog. “We don’t have that in-
stock, but we can order it for you.”
+ +
1. Store + Shipping
Don’t forget to plan for all of the what-ifs of offering e-commerce as part of
your business:
● Storage costs of additional inventory
● Shipping methods and costs
● Vendor drop shipping
● Return policy
● Can your current staff handle order fulfillment or will you need to hire?
+ +
2. Store + Pickup
Retailer sells through a storefront and online channel, but
doesn’t ship. Offers in-store pickup or digital-only goods.
Things to consider:
● Provides customers online shopping opportunity without a lot of the
planning/execution
● No need to worry about shipping costs
● Increases store traffic and chances of additional purchases
● Digital options: sell gift cards or classes online that can be printed
+
3. Shipping Only
Retailer sells items only online and ships.
Things to consider:
● No storefront needed - low overhead costs
● Still need to consider storage costs or third-party fulfillment
● Need to compete more on originality than price
● Shipping and mail returns back in play
+
Shoppers who buy from
a business both in-store
and online have a 30%
higher lifetime value
than those who shop
using only one channel.
Final Thoughts
Prepare for e-commerce by following these 4
steps:1. Define your business goals
2. Choose your e-commerce selling option
3. Establish policies & procedures (shipping, returns, etc.)
4. Create a budget
If you work through these steps and the numbers make sense,
you’re ready to try e-commerce as part of your strategy!
We know e-commerce.
EXPLORE OUR OPTIONS →