Tag: Fulfillment Companies

Posted on

ECommerce Growth Projections for 2023 to 2026 – What’s in Store

Image of a graph trending up sitting on a hand.

As you adjust your business goals for the new year, knowing what to expect can help. The Global eCommerce Sales Growth Report through 2026 shows promising trends for online businesses. Keep the following news in mind when writing your goals for 2023.

Increased Online Sales

Experts are expecting online sales to increase every year from now until 2026. For 2023, global eCommerce sales are projected to hit $6.3 trillion. Sales are expected to increase to $6.9 trillion in 2024, $7.5 trillion in 2025, and $8.1 trillion in 2026.

The increase of nearly $2 trillion over the next few years is a result of more and more people turning to online stores rather than brick-and-mortar businesses.

Traditional Retail Sales vs. eCommerce Retail Sales

Online retail sales are continuing to take up a larger share of all retail sales on a global scale. As of 2022, online sales accounted for 19.7 percent of retail sales. This is expected to increase to 24 percent by 2026.

With online sales making up nearly a quarter of all sales within a few years, it’s important for eCommerce business owners to make sure they’re prepared.

Boosting Your Online Business

The latest projections for global eCommerce sales mean that it’s time to make adjustments to your own business. This can help you take advantage of the increase in online purchases in order to help your company grow.

With more consumers being comfortable shopping on mobile devices, make sure your online store has processes in place to provide secure transactions. Partnering with a fulfillment warehouse might also be a smart move to make, since this ensures that customers are able to get their orders on time.

Get With Our Fulfillment Experts Today

If you’re looking for a dependable fulfillment warehouse to partner with your business, contact Medallion Fulfillment and Logistics.

Posted on

Five Tips for Planning Your eCommerce Promotions for 2023

Man in a warehouse smiling by boxes ready to ship out.

Now is the ideal time to start planning your business goals for 2023. Whether you’re interested in improving your online store’s performance by partnering with a fulfillment warehouse or looking for ways to boost business, the following tips can help you plan your eCommerce promotions for this year.

Customer Loyalty

Focusing on customer loyalty helps ensure repeat business for your eCommerce store. Loyal customers can also bring more business to your store by telling others about what you have to offer. Consider starting a rewards program, sending out newsletters, or taking other steps to encourage customer loyalty.

Specific Incentives

Come up with specific incentives for your customers based on their shopping habits and interests. Using customer analytics can help you discover this information. Offering incentives targeted toward your customer base can help you improve your chance of running successful promotions in the new year.

Engagement

Staying engaged with customers through social media and email can help you spread the word about upcoming promotions for 2023. Set up email and social media campaigns that focus on letting customers know about promotions ahead of time and reminding them just before they start.

Cross-Selling

Offering two or more items at a discount or promotional rate can encourage customers to purchase from your store more often. Cross-selling can also help your customers learn more about different kinds of items your online store offers.

Micro-targeting

Customizing promotions for smaller groups of customers, also known as micro-targeting, can help boost business for your online store. Examining data about your customers can help you determine which groups to target and what kinds of promotions to offer.

Your #1 Solution for East and West Coast Fulfillment Services

The shopping holiday crunch may be over, but your need for effective fulfillment services doesn’t end. Medallion’s comprehensive programs are specifically designed to accommodate the ebbs and flows of your particular company.

Consider our robust Amazon replenishment warehousing services meet Amazon’s standards at a more cost-effective price.

If you’re looking for a fulfillment warehouse that offers reliable service, please contact Medallion Enterprises. We also offer a wide selection of services to help your online business grow.

Posted on

Christmas and New Year’s Hours

Holiday table setting

The holidays are here! We wanted to take a moment to say thank you for your business and to share with you our holiday hours for Christmas and New Year’s.

Medallion and Sprocket Express’ 2022-2023 December and January Closures

Our holiday season hours are as follows:

Christmas: Closed Monday December 26th

New Year’s Eve: Monday January 2nd

Thank you again for allowing us to be your warehouse and fulfillment partner.

Posted on

Thanksgiving and December Holiday Hours

Close-up of African American man carving roasted Thanksgiving turkey.

Medallion and Sprocket Express’ 2022-2023 Holiday Season Closures

Our holiday season hours are as follows:

Thanksgiving: Closed Thursday and Friday November 24th and 25th

Christmas: Closed Monday December 26th

New Year’s Eve: Monday January 2nd

Thank you again for allowing us to be your warehouse and fulfillment partner.

Posted on

Offer Free Shipping the Smart Way for the 2022 Holiday Season

Learn how to offer free shipping the smart way.

Today’s savvy consumers have come to expect free shipping as a perk of spending their money online. But as the retailer on the other side of that equation, it may sound not so great. Turn free shipping for customers from your fulfillment warehouse into a win-win proposition this holiday season with these helpful tips.

How to Offer Free Shipping the Smart Way

Shopkick is a shopping app company that partners with major retailers such as Target, Old Navy and Disney Stores. According to their survey of holiday shoppers, free shipping was the top benefit expected by 94 percent of respondents.

So, the question is not if you’ll offer free shipping, but how. You can resign yourself to accepting it as the cost of doing business, or you can use these creative suggestions from experts to offer free shipping without sacrificing your profit margins.

1. Build shipping costs into the sticker price.
This is the easiest and most common way to cover free shipping. When you factor the costs into the sale price of your products, the difference is negligible and greatly outweighed by the perceived benefit of free shipping.

2. Optimize packaging.
When is the last time you reviewed your packaging standards? Elements like oversized boxes and excessive filler can unnecessarily drive up your shipping costs. Proper packaging keeps shipping expenses manageable while reducing your carbon footprint for additional savings.

3. Boost average order value.
If a customer can be enticed to increase the dollar value of their order, you realize a greater profit with only an incremental change in shipping costs. There are a few ways to accomplish this:
• An order includes multiple purchases of the same item
• Free shipping kicks in at a specific minimum order threshold
• Offer free shipping on a select number of items with higher profit margins

4. Tie free shipping to customer loyalty programs
Amazon Prime launched its growth to more than 200 million subscribers with the promise of free shipping. But you don’t have to confine this strategy strictly to paid membership services. You can simply offer free shipping as a perk for repeat customers.

5. Offer additional shipping options.
It is said that time is money, and for some people, that means they are willing to pay for it. Yes, most people are in a position to wait for standard shipping if it means getting it for free. Others are in more of a hurry, whether they have a pressing need or they’re just impatient. Expedited shipping options provide flexibility as well as another way to offset the costs of free shipping.

6. Offer event-based free shipping.
Instead of blanket free shipping, consider using strategic timing. Create a set schedule on certain days and times or run flash sales where you “randomly” announce free shipping for sales during a limited period of time. Both plans will build excitement in shoppers and encourage return visits to your site.

7. Partner with an experienced fulfillment warehouse.
Let’s face it. Selling is what you know and love. An experience fulfillment warehouse can offer advantages, such as good relationships with carriers, that keep shipping costs down while providing superior service to your customers. In the meantime, you’re free to work on building your business.

Medallion: a Fulfillment Warehouse for All Seasons
‘Tis the season of the most lucrative time of the year, but your business doesn’t end when the holidays do. Keep your eCommerce shop running on all cylinders 24/7. Contact us at Medallion Fulfillment & Logistics to learn more about our innovative, cost-effective solutions that can be customized to fit your particular needs.