This comprehensive guide will equip you with a deep understanding of the Cost of Goods Sold (COGS) and its significance for your business. By reading this article, you’ll learn how to calculate COGS, understand the differences between COGS and operating expenses, and explore methods to reduce your COGS, ultimately enhancing your business’s profitability. Key Takeaways: […]
Shopping Cart Abandonment: Reasons, Effects, & What You Can do to Prevent It Shopping online is not so different from shopping in a store. As customers, we all have certain expectations and bullet-points we need to have met, as well as encountering millions of other distractions throughout our shopping journey that may interact with our […]
In this article, we explore the concept of “Economic Order Quantity” (EOQ), a crucial formula in inventory management. We delve into its definition, the factors needed for its calculation, and the benefits and challenges associated with it. By the end, you’ll grasp the importance of EOQ in optimizing inventory levels, reducing costs, and ensuring efficient […]
Dark Stores 101: What is A Dark Store & What Are the Order Fulfillment Models? Since we’ve been moving forward speedily in this pandemic world, all we need is isolation and instant gratification. And this is valid in our every action, from social connections to shopping. This being the case, traditional retailers feel the need […]
Omnichannel: What is Omnichannel Retail & How Does Omnichannel Ecommerce Work? Omnichannel is one of the most popular terms used in ecommerce and online retailing today. But what does omnichannel mean? What is the true meaning that brings ecommerce platforms benefits and revenue? Instead of just presenting your customers with multiple ways to purchase products, […]
3PL: Everything You Need to Know About 3PL Companies & Warehouses Order fulfillment is an essential part of any ecommerce business operation. As your online business grows, so do your fulfillment procedures and warehouse management options, making it much more challenging to tackle in-house logistics operations. In order to expand your fulfillment strategy, you may […]
