This post was updated to reflect current trends and information.
Currently, many businesses are operating their own eCommerce stores on Shopify or Amazon to sell their products and services over the Internet to clients and consumers, all over the world. This is a great way to increase sales and brand awareness.
United States: top 10 online stores
The e-commerce market in the United States is constantly evolving. According to Statista’s forecasts, in the coming years, retail sales of B2C e-commerce in the US will grow rapidly: from 315.6 billion US dollars in 2018 to more than 565.7 billion US dollars in 2023. The most popular online store in the United States is, of course, Amazon.com, the second most popular is Walmart.com
As you can see in the graph above, at the top of the e-commerce rating are the 2 largest retailers:
Amazon.com, Inc. is a global e-commerce corporation that provides online retail, consumer electronics, digital content and other services such as daily deals and local groceries. The greatest part of the company’s revenue is generated from third-party seller revenues, subscription services, and AWS activities. Due to quality standards and global reach, Amazon is considered one of the most valuable brands in the world.
Walmart, Inc. is one of the biggest retail chains offering low prices and immensely varied products, giving Walmart a competitive edge.
Challenge of efficient e-commerce transaction
Whatever you choose, open your own online store on one of the most popular e-commerce platforms such as Shopify, WooCommerce, BigCommerce, Magento or sell on Amazon, or deal with Walmart, Home Depot, Target, etc. it is very beneficial for companies of all size and various industries to expand their online business.
However, many executives still do not consider a full integration between there online store, and their business management system (ERP, CRM), as a must and important option to adopt.
Efficient supply chain management and prompt exchange of the necessary information between trading partners is the key to the success of your electronic business and the high satisfaction of your customers.
The main problems that online store owners may encounter when they omit a full integration between their store and their ERP are as follows:
- They must hire more staff to manage their supply chain, in order to respond to growing customer demands.
- It is difficult to balance incoming demand and production (in case the company is a manufacturer)
- Problematic transfer of inquiries and information between several business partners involved in the supply chain channel.
The challenge with supply chain management is to synchronize the supply chain with consumer demand and measure the productivity and success rate. Therefore, below are 3 useful tips to overcome these challenges:
Integrated ERP Solutions
Having one platform to manage and run a business can make all the difference. A fully integrated software system will be able to efficiently manage an eCommerce and retail business and eliminate the need to key-in information from the online store to the management system manually.
Useful reading: Must-Have Integration between E-Commerce and Business Systems
As mentioned previously, the ability to balance product demands from an eCommerce store and supply chain demands is very important. Therefore, to do this would be to empower the eCommerce platform with EDI capabilities, to exchange data in real-time with suppliers and partners.
Useful reading: The most used EDI messages in the supply chain management
Modern Business Solutions
A scalable integrated IT solution, such as the one suggested by EDI2XML, is needed to be able to electronically exchange information by parsing data of different formats, like X12/EDIFACT, XML, CSV or Json, and translate EDI from one format to another. On top of that, the solution should be able to easily integrate with different systems and communicate with different partners using modern and secured communication protocols such as AS2, sFTP or API (Web services).
Improve your eCommerce management and supply chain by implementing and integrating with the best tools and solutions.