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April 2002 |
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10 ways to increase profits
Retailers selling online are focusing on profitability, say results of a new study just out from the Direct Marketing Association. The results came from analysis of 100 leading e-retailing sites by The E-tailing Group Inc., Chicago-based consultants.
These are the top 10 things that The E-tailing Group says online retailers are doing to build their bottom lines:
- Developing content that provides detailed information
for consumers to make a buying decision.
- Using interactive technology to add value to the online
shopping experience and increase sales, such as zoom, color change and 3-D
technologies.
- Minimizing the number of clicks to checkout and improving
“quick-to-shop” times to avoid cart abandonment.
- Communicating with customers via targeted e-mails that
include merchandising tactics and providing timely accurate responses to customer
service inquiries.
- Investing in improved search technology that allows consumers
to search by multiple factors.
- Offering relevant cross-sells and up-sells throughout
the site.
- Offering timely gift services, including gift centers
and comprehensive gift searches.
- Providing real-time online information about product
availability and order status.
- Structuring promotional offers without forfeiting profitability,
such as basing free shipping on order size.
- Integrating multi-channel operations for customer convenience
and cost savings.
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