Medallion Fulfillment & Logistics
The News/Blog for Medallion Enterprises
Hello from Medallion!
The holidays are almost upon us. 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’ 2020-2021 Holiday Season Closures
Our holiday season hours are as follows:
Christmas: Closed Friday December 25th
New Year’s Day: Friday January 1st
Thank you again for allowing us to be your warehouse and fulfillment partner.
In the increasingly crowded and competitive world of eCommerce, Amazon remains the gold standard. The impact of the online retailing behemoth has been so primal and far-reaching that marketing experts have coined a term for it: “Amazon Effect.”
As the leader in California and Massachusetts fulfillment services, we work to stay on top of trends and innovations influencing the industry. Here’s what you need to know about the Amazon Effect and how it applies to your business.
Shifting Buyer Expectations
Amazon’s principal effect has come in the area of buyer expectations. Consumers are demanding a buyer’s journey be “frictionless and immediate,” and these expectations cut across the digital arena to goods and services purchased in brick-and-mortar locations.
These three benefits top the list of what retailers are expected to provide today:
• Free shipping, which is most prominently featured in Amazon’s Prime membership program. While shipping costs can be steep, Amazon has found that it’s paid off in powerful customer loyalty and add-on sales.
• Speedy turnaround time, where customers receive orders in days rather than weeks. Amazon Prime’s free shipping takes only two days, and same-day delivery is available in more than 10,000 locations.
• Easy access, with a variety of options for ordering and delivery. For example, Amazon offers delivery or pick-up for grocery orders and certain items are eligible for subscriptions where orders are entered and delivered automatically.
Generational Differences and the Millennial Mindset
Not surprisingly, younger consumers who have spent their entire lives with technology are more demanding when it comes to eCommerce fulfillment and delivery. A 2018 survey of online shoppers in the U.S., Canada and U.K. found that less than 50 percent of respondents between the ages of 18 and 34 were fully satisfied with their orders.
Other studies have uncovered the “Millennial Mindset,” which Amazon has embraced with great success. The Millennial Mindset is a group of six brand values that buyers from 18-34 rate highly in their shopping experience:
• Social Circle: Is a brand popular within a buyer’s circle of family and friends?
• Self: Does a brand generate an emotional connection?
• Innovative: Does a brand lead its field in creative advancements?
• Trusted: Does a brand have consumers’ best interests at heart?
• Purposeful: Does a brand contribute to the greater good?
• Accessible: Is a brand easily assimilated into a buyer’s lifestyle?
While this mindset originated with Millennials, it’s having a ripple effect through other generations. At this point, Generation X has adopted the mindset nearly as completely as Millennials have.
Countering the Amazon Effect in Brick-and-Mortar Stores
• Use locations to complement eCommerce, not duplicate or compete with it.
• Engage high-tech solutions to track in-store behavior
• Leverage mobile apps with mPos, location-aware coupons and personalized service.
California and Massachusetts Fulfillment Services that Exceed Customer Expectations
Medallion Fulfillment & Logistics and Sprocket Express provide a comprehensive set of eCommerce services that scale to meet your specific needs. Contact us to learn more about why we should be your first choice in cost-effective and efficient California and Massachusetts fulfillment services.
Are you familiar with the “power of three?” Studies show that three is the sweet spot when it comes to the brain’s ability to grasp concepts.
This principle can simplify your plans for boosting your company’s online sales. Focus on optimizing these three opportunities for a well-rounded approach that produces steady growth.
1. Grow Your Customer Base
Not surprisingly, this is often the primary goal of most companies. Gaining new customers expands your reach in the marketplace and offsets attrition from accounts that drop off due to business closings and other factors.
The trick is to set yourself apart from the competition by demonstrating that your product or service can best solve a prospect’s problem. This requires a thorough knowledge of your target audience along with compelling content on your website.
Customer conversion is essential, but it’s the most expensive and time-consuming way to increase online sales, which is why you can’t afford to ignore the other two methods.
2. Grow Your Average Order Size
Once a customer makes the decision to buy from you, the hard part is over. You’ve established a level of trust that makes them willing to spend money on your product or service.
Effective ways to increase order size include:
• Upselling a related product, such as suggesting a belt to go with a pair of pants.
• Offering a discount for multiple quantities.
• Selling an upgrade to a higher level of an item, such as a cell phone with more memory.
• Bundling similar items, much like Amazon does when they suggest an additional book on the same topic.
• Suggesting complementary products, such as batteries to go with the kids’ holiday toys.
• Providing options for longer commitments, perhaps a one-year membership instead of one month.
• Selling extended warranties.
• Including a menu of add-ons.
• Offering expedited delivery.
• Showing products other customers have bought at the same time as the current item.
3. Grow Your Number of Repeat Sales
It’s a well-established truism in sales that it’s less expensive to keep existing customers than to find new ones. Satisfied customers pay benefits in repeat sales, plus they’re more likely to provide referrals.
Promotions can play a major role in bringing past customers back for more. Send follow-up emails with coupons, sales and suggestions for similar or related products.
Selling online doesn’t mean you can ignore customer service. It’s actually even more important, because buyers can find new suppliers from the comfort of their living room. Superior customer service is the best way to make sure your company makes a lasting impression.
The Leader in California and Massachusetts Fulfillment Services for Online Retailers is Medallion!
At Medallion Fulfillment & Logistics, your success is our success. Our comprehensive offering of California fulfillment services provides everything you need, from warehousing and order picking to credit card processing and shipping.
Let our California and Massachusetts fulfillment services company handle the details so you can concentrate your time and energy on growing your online sales.