Business

An ecommerce site is a business. Our Management & Finance category addresses online payments, funding needs, employee issues, merchant profiles, key metrics, multichannel and omnichannel strategies, cross-border analyses, inventory management, accounting topics, sales taxes, and much more.

Business
Turn Off Your Phone, Says Agency Founder

November 6, 2020 • Eric Bandholz

Most entrepreneurs in 2020 are uber connected: phone, text, email, Slack — you name it. But to Arri Bagah, the founder of Conversmart, an ecommerce agency, always-on connections means non-stop interruptions. "It's a matter of taking control of my time — trying to be less reactive and more active," he told me. "Receiving all of those notifications prompts you to react.
Business
Your Ecommerce Platform Can Help with That

November 5, 2020 • Armando Roggio

The coronavirus pandemic has encouraged many entrepreneurs and small-business owners to either start selling online or significantly expand their ecommerce operations. Evidence of this trend can be found in Shopify's June 30, 2020, quarterly report. The company achieved a 28-percent increase in subscription revenue for that three-month period.
Business > Merchant Voice
Should you buy a failing ecommerce brand?

November 4, 2020 • Peter Keller

Have you been itching to get into ecommerce? Perhaps you've watched a slew of training videos. You're ready to take the plunge. There are a few ways to get into the ecommerce game.
Finance
SPACs: 2020’s Most Popular Method of Going Public

November 3, 2020 • Marcia Kaplan

The traditional IPO has mostly been the domain of large, high-profile companies that had received hundreds of millions in venture capital over a period of years. This year, however, traditional IPOs have been overtaken by a method that has been around for roughly 20 years but has gained traction only in the past two.
Business
October 2020 Top 10: Our Most Popular Posts

October 30, 2020 • PEC Staff

Since 2005 we've published thousands of articles, webinars, and podcast episodes to, hopefully, help ecommerce merchants. What follows are the most popular articles that we published in October 2020. Articles from early in the month are more likely to make the list than later ones.
Business
Pros and Cons of Composable Commerce

October 29, 2020 • Gagan Mehra

The term "composable commerce" refers to joining multiple components to meet a merchant's specific needs. Example use cases include multiple sales channels, cost control, specialization, and the need for modular construction.
Business
Automobile Sales Are Moving Online

October 29, 2020 • Armando Roggio

For many consumers, a car or truck is the second largest purchase they will make after buying a house. In July 2020, for example, the average new vehicle price in the United States was $38,378, according to a Kelley Blue Book release. Despite the cost, automobile sales could be moving online.
Amazon & Marketplaces > Merchant Voice
My response to negative Amazon reviews

October 27, 2020 • Richard Stubbings

In last month's post, I described instances of giving preference to an Amazon customer rather than one from my own site. I hated that. It is one of the reasons I scaled down my Amazon listings. For me, customer service is paramount. It is one thing an independent retailer can do better than the large box shifters.
Fraud Prevention
Crooks Are Creating Synthetic Shoppers

October 26, 2020 • Armando Roggio

The ongoing global pandemic has forced the rapid expansion of ecommerce and a general migration toward digital transactions. Unfortunately, Covid-19 also may be fueling an increase in so-called synthetic identity fraud.
Payments
Get Ready for Digital-first Credit Cards

October 25, 2020 • Mike Eckler

In September 2020, Mastercard announced the expansion of its Digital First Card Program. Introduced in 2019, the program is a series of systems and procedures that enable credit card info to be downloaded directly to a mobile wallet. The expansion aims to increase awareness and improve access to existing digital card-issuing technology.
Amazon & Marketplaces
Winners on Prime Day 2020? Non-Amazon Sites

October 19, 2020 • Marcia Kaplan

Amazon’s delayed 2020 Prime Day event ran for two days — October 13 and 14 — as it did last year. While it does not release total revenue for Prime Day, Amazon touted in 2019 that Prime Day sales exceeded the prior year’s Black Friday and Cyber Monday sales combined. This year Amazon did not make such a claim.
Business
For Omnichannel Retailers, Hedgehogs Beat Foxes

October 18, 2020 • Armando Roggio

In his 2001 book "Good to Great," author and researcher Jim Collins sought to explain "why some companies make the leap [from good to great] and others don't." His answer plays out over about 300 pages, and it includes the Hedgehog Concept.
Business
‘Gated’ Product Launch Leads to $250,000 in 1-day Sales

October 16, 2020 • Eric Bandholz

Jordan West launched Little & Lively, a direct-to-consumer children's apparel company, with his wife, Carmen, six years ago in Canada. The business has grown to mid-seven-figures in revenue selling through its website, mostly. He's a master at creating demand for his products before they are available for purchase.
Payments
The Wirecard Fiasco: Digital Payments Gone Wrong

October 14, 2020 • Mike Eckler

What would you do if your credit card processor and merchant account provider were fraudulent? That's the reality for many thousands of worldwide businesses that relied on Wirecard, the Germany-based financial technology firm that is now in bankruptcy proceedings, having committed, allegedly, sham practices for years.
Amazon & Marketplaces
Can Walmart+ Compete with Amazon Prime?

October 11, 2020 • Marcia Kaplan

Walmart launched its premium subscription Walmart+ on September 15. The service offers unlimited free deliveries on orders over $35, up to a five-cent per gallon discount on gas at Walmart and Murphy fuel stations (Sam’s Club stations will be added shortly), and scan-and-go purchasing at any of its physical stores.
Business
Native Deodorant Founder on Scaling to $100 Million in 2 Years

October 9, 2020 • Eric Bandholz

Despite reaching a whopping $100 million in revenue in just two years, Moiz Ali, the founder of Native deodorant, says the initial version was less than stellar. "We had a pretty mediocre product," Ali told me.
Amazon & Marketplaces
Amazon Best Sellers in the Home Office Furniture Category

October 8, 2020 • Raphaël Menesclou

The demand for home office furniture has exploded since the beginning of the pandemic. Given how many companies are considering making remote work permanent, the "Home Office Furniture" category on Amazon is worth looking at closely.
Business
5 Content Marketing Ideas for November 2020

October 5, 2020 • Armando Roggio

The U.S. presidential election, family-oriented observances, blogging, and even entrepreneurship are all good topics for your business's content marketing in November 2020. Content marketing is the act of creating or curating content, publishing that content, and promoting it with the aim of attracting, engaging, and retaining customers.
Business
Real Men Wear Makeup, Says DTC Co-founder

October 2, 2020 • Eric Bandholz

Jon Shanahan wants men to wear makeup. He's a co-founder of Stryx, a direct-to-consumer manufacturer of concealer and tinted moisturizer for males. The company launched in 2017. Shanahan joined shortly afterward, having created his male grooming channel on YouTube.
Business
September 2020 Top 10: Our Most Popular Posts

September 30, 2020 • PEC Staff

Our mission since 2005 is to publish articles, webinars, and podcasts to help ecommerce merchants. What follows are the 10 most popular articles that we published in September 2020. Articles from early in the month are more likely to make the list than later ones.
Business
2020 ‘Time Machine’ Elevates All of Ecommerce

September 30, 2020 • Armando Roggio

The ongoing global pandemic has accelerated retail and B2B trends that make it relatively more difficult for some businesses to survive while upping the competitive bar for the entire ecommerce industry. These trends include everything from an increase in online sales and the growth of click-and-collect shopping to how software is built and integrated.
Payments
The Potential of Real-time Payments for Ecommerce

September 29, 2020 • Mike Eckler

Real-time payments are immediate transfers of funds from a payor to a payee. The topic is trending and for good reason. The promise of immediate settlements and instant access to funds is compelling, especially for merchants frustrated by their bank's policy of holds and reserves.
Local Business
Mall Owners Become Retailers Amidst the Pandemic

September 29, 2020 • Marcia Kaplan

The Covid-19 pandemic and subsequent store closures have brought new momentum to the decline of brick-and-mortar retailing, especially malls. More than 50 percent of the department stores that anchor malls in the U.S. will permanently close by the end of 2021, according to real estate investment firm Green Street Advisors.
Business
‘My Wife Quit’ Founder on SMS Marketing, SaaS Platforms, osCommerce

September 25, 2020 • Eric Bandholz

In 2007 Steve Chou's wife, Jennifer, wanted to spend more time with their growing family. So she quit her job. Fast forward to 2020, and Bumblebee Linens, the Chou's ecommerce company, is prospering. Steve is now an ecommerce celebrity, having launched the "My Wife Quit Her Job" blog, podcast, and YouTube channel.
B2B
Covid-19 Exposes Inefficiencies in B2B Accounts Receivable

September 24, 2020 • Armando Roggio

The ongoing pandemic has exacerbated long-standing inefficiencies with the B2B accounts receivable process, such as manual entry, little standardization, and errant data. Accounts receivable personnel have historically overcome many of these problems, but an increase in remote work may require B2B sellers to move to a more automated or integrated process.
Business
Covid-19 Is Driving Some Brands to DTC

September 21, 2020 • Armando Roggio

The coronavirus pandemic has accelerated the pace of digital transformation in retail, prompting some brands to focus on direct-to-consumer channels. The retail and wholesale industries have long been undergoing an evolution toward ecommerce, digital brands, and DTC sales. But Covid-19 changed retail abruptly.
Business
A Passion for Cosmetics Leads to $1 Million in First-year Sales

September 18, 2020 • Eric Bandholz

The YouTube-to-ecommerce business model may be the best way to build an audience of customers. It worked for my company, Beardbrand, when I posted beard-grooming videos on YouTube. And it worked for Lisa and Paul Jauregui. Lisa’s passion for cosmetics led to her YouTube channel, which educates consumers on the use and selection of those products. And that audience generated customers for BK Beauty, a direct-to-consumer cosmetics brand that the Jauregui’s launched in August 2019.
Business > Merchant Voice
After 20 years of ecommerce, change is the only certainty

September 17, 2020 • Richard Stubbings

Designing, building, and launching a website is just the beginning of an ecommerce business. Attracting and converting visitors is the next, all-important step. A website alone does not guarantee anything. But the most critical factor in long-term success is the ability to change and adapt.
B2B
Getting Your B2B Team on the Digital Train

September 16, 2020 • Lori McDonald

The pandemic has accelerated the digital transformation of many B2B companies. Implementing ecommerce and other digital tools requires rethinking how your organization operates and how it interacts with customers. It's an opportunity to improve sales and back-office efficiencies.
Payments
4 Payment Methods to Integrate for the Holidays

September 14, 2020 • Pamela Hazelton

Convenience and security increasingly impact online selling. That's especially the case for the upcoming holiday season, as consumers will likely seek flexible, seamless payment options. Here are four payment methods to consider for this year's holiday selling.