With E-commerce taking the market by storm and capturing a major portion of consumer spending, several fly-by-night E-commerce companies have sprung up. However, will all of them be able to sustain themselves is the big question. Promotional tactics have changed and evolved.
The industries offering B2B services are witnessing continuous evolution. The current trends have forced these industries to switch or upgrade their strategies, particularly in product catalog management. Perhaps, multichannel and e-commerce industry are front-runners in changing B2B product catalog management.
Since last decade, Indian retail market has witnessed drastic changes in the attitude of consumers. Prior to its evolution, consumers preferred purchasing from local retailers after examining the product physically. However, now, they have largely shifted towards online shopping. Introduction of new technology, affordable internet, and value-to-money products are some of the key points on which online retail business is riding.
Often, it is seen that companies run after acquisition of new customers and every sales strategy revolve around that. Perhaps, marketers have acknowledged that acquisition is a synonym for marketing. But this isn’t true! Experts have discovered that a company has to spend seven times more money to draw new customers than retaining the existing ones.
In the recent decade, the glory of e-Commerce sites has increased dramatically. It is understandable as people have very limited time due to their hectic schedules. Their shopping instincts are taking a backseat in this grim scenario. However, online retail services have emerged as a wonderful solution for every shopping need.
Online retail sites have made tremendous growth in recent years. Their marketing strategies have also shifted the gear to a next level. Numerous online web stores are already floating on the virtual platform. There is a serious need of analyzing the stats of online marketing.