Business

Online Business Success Stories – The Secrets Behind Their Growth

E-commerce offers countless opportunities. Finding your footing and maintaining success as a vendor is obviously no simple task.

36% of Amazon merchants have stopped selling in the last few months alone, succumbing to the challenging circumstances of an already competitive market combined with the effects of COVID-19.

Here are the companies that defied the odds to create successful ecommerce businesses that function well even in the harsh conditions of the present. Together with our friends at ShipBob, we conducted interviews with each company in order to provide inspiring success stories and helpful advice. Browse the merchants on our list below to find out how they were able to increase the return on their e-commerce investment.

Find Your Own Rhythm | McCombs Supply

McCombs Supply has experience in traditional retail as well. The brick-and-mortar main store of the third-generation, family-owned business opened in Lancaster, Pennsylvania, in 1953.

Despite operating an online store for more than 18 years, McCombs continues to experience significant YoY sales growth throughout its inventory of commercial and household appliance parts.

Nothing changed from last year. In the wake of COVID-19, stores all throughout the country closed their doors, while McCombs witnessed an 11% increase in online sales.

Vice President Ken McCombs III gives a variety of reasons for this accomplishment. In addition to stocking essential items for at-home living, McCombs has a well-established system for predicting demand; prior to the start of the season, when most retailers were rushing to stock up on inventory, McCombs had already placed a sizable order, requiring working outside the company’s typical purchase-order cycle and extending lead times for some SKUs from 45 days to 90 days.

Moreover…

McCombs also credits the success of his team’s early multichannel and “deep inventory” expenditures. While the bulk of marketplace vendors depend on Amazon for at least 60% of their annual sales today, McCombs’ revenues originate from sources including its BigCommerce webstore, eBay, and Walmart Marketplace for close to 75% of its total sales.

“You don’t want to merely have what everyone else has, but also what everyone else doesn’t have,” was his parting advice.

The more merchandise you have, the more money you can make.

Customers may continue to purchase from your brand if you have a good balance of “A” products (things that you sell “all day long”) and “B” products (items that sell less frequently but are highly valued by customers).

Build Your Brand with BAKblade

BAKblade is on a mission to give guys all throughout the nation “clean confidence.” BAKblades ergonomic body groomer gives the ideal shave, whether you’re trying to reach places on your back, chest, or abs. It has been featured by media outlets like Mashable, Discover, and the Today Show.

Early on in the COVID-19 outbreak, demand for the company’s products fluctuated and even significantly declined as consumers concentrated on purchasing necessities. However, the company’s established brand awareness helped to support sales and even drove sales higher than anticipated as the nation reached the “self grooming” phase of panic buying.

According to Matt Dryfhout, founder and CEO of BAKblade, “We have witnessed a 20% boost over our expected revenues between the U.S. and Canada.” “Having enough inventory and a sizable web presence has helped us successfully navigate these waters,”

Over the years, BAKblade has aggressively grown its brand. When you visit its website, its branding makes an impact and inadvertently makes you giggle.

Its homepage pays homage to the blue, bow-tied gorilla in its emblem by saying, “Whether you are modestly hairy as a chimp or terribly hairy as a silverback gorilla, we’ve got your BAK.” This branding is carried over to BAKblade’s storefront and listings on Amazon, where enhanced brand content (EBC) that expertly showcases its cutting-edge technology is used to promote the company.

One of the most up-to-date and impressive instances of a company utilising the strength of an exquisite D2C webstore and active third-party markets is BAKblade. Through marketplaces, they can connect with a large, well-established customer base and gain more than 7,400 reviews and 5-star ratings, which will help them build their brand awareness and attract repeat visitors to their own website.

In the background, the business uses ShipBob, a top 3PL, to maintain quick shipping for all of its multichannel orders. No matter where a buyer purchases from—Amazon, eBay, or their website—BAKblade consistently provides a satisfying customer experience, bolstering the authority of their brand. ‍

For Your Information: BAKblade is currently offering a promotion where you can receive 15% off your order. Simply include BARGIN15 in your check to save!

Felina: Use Your Marketing Creativity

Felina enables women to treat themselves occasionally, whether in dire situations or just on a regular basis. Besides, Felina has been producing luxurious, reasonably priced intimate and lounge apparel since the early 1980s. The business owns numerous product lines and brands that are offered at Target, Costco, and other department stores.

Felina has established itself as one of the top 15 leggings sellers on Amazon online. According to Neil Popkin, the head of e-commerce, e-commerce is the area of their business that is expanding the quickest. Additionally, the business has adopted a startup-like strategy to promote its products across several markets.

However, the COVID-19 epidemic in the beginning of 2020 had a negative impact on the clothing sector. Stay-at-home orders for Felina also resulted in the closure of its warehouse, which brought fulfilment to a grinding halt. Despite this, the business managed to maintain getting orders.

Moreover…

Even if an order isn’t going to ship right away, Popkin said, “[we asked] ourselves how to leverage this time to be more strategic with our emails and create campaigns that people would engage with.

The business tested techniques including a buy-one-get-one 50% off deal and a 15% discount when a customer donated $1 to a charity among the numerous concepts the team considered. The team also tried out a brand-new loyalty programme that offered incentives for customers to return before or after the epidemic in order to redeem their points.

Positive feedback resulted: Felina changed the course of its sales, encouraging additional purchases and preventing complaints and order cancellations, despite delayed delivery timeframes.

Popkin emphasises the value of proactive communication now as well. Customers’ faith in Felina has grown as a result of keeping them informed as they wait for their products. In the future, Popkin believes that e-commerce will significantly increase in most businesses. His team’s success will be sustained in the months and years to come thanks to the strategies they developed while at home.

Source: online business Singapore , how do you start your own business online

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