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The Online Footwear Industry in Australia
The industry remains fragmented with players with low market share according to a June 2015 market research report.
73% of online shoe retailers offer discounts on products
Provide Discounts earn more
Online Shoe Industry Is Tough
No Single Player Holds More Than 5% Of The Market Share
More efforts need to be put into their marketing processes
Low entry barrier + high number of stores = Weak players in Industry
6 Tactics to Standout in the Online Shoes Industry
Recognize What to Sell
Push inefficiencies out of the sales and admin
Leverage through Cross-Selling
Provide Discounts for higher Revenue
Create space for niche products
Do not forget Social Media
6 Tactics to Standout in the Online Shoes Industry
Recognize What to Sell• Add value to design
• Use high quality material
• Invest on branding
• Pay attention to customer service and relations
• Differentiate your product offerings
6 Tactics to Standout in the Online Shoes Industry
Push inefficiencies out of the sales and admin
Hiring a good Virtual Assistance company for these back-end admin tasks could be the best way to improve efficiency
Increase the efficiency of sales and admin from a “manageable” state of mind
2. Outsource Admin Tasks1. Use a Good CRM
6 Tactics to Standout in the Online Shoes Industry
Leverage through Cross-Selling
Cross-selling can be a good revenue stream for e-commerce online shoe stores
• heel stoppers,• heel grips,• hosiery• compression foot sleeve• gel cushion• feet blister plasters• heel cushions
• shoe care cream
• shoe care sponge• shoehorn• socks• sunglasses • and wallets.
Focus on these products to increase your revenues
Items that are being sold along with footwear are :
6 Tactics to Standout in the Online Shoes Industry
Provide Discounts for higher Revenue
73% stores discounted their select footwear products
6% of stores have discounts on their available footwear collection
• A tool to generate sales
• A tool to clear stocks on a continuous basis
Discounts:
6 Tactics to Standout in the Online Shoes Industry
Create space for niche products
less than 2% of stores sell
niche products
• Make space for niche complementary products for higher ROI • differentiation as a part of your red ocean strategy
6 Tactics to Standout in the Online Shoes IndustryDo not forget Social Media
Social media marketing is cost- effective and is therefore attractive to online retailers
We found that 17% of stores have presence on all these social media forums. This means, online shoe stores look to engage customers’ across multiple platforms and forums.
01020304050607080
72%54%
44% 33% 33%
Presence on Social Media
Final WordsFollow 6 steps suggested in the presentation to make your online shoe
business stand out in an already crowded e-commerce industry
Apart from the ideas mentioned above, hiring a Virtual Assistant firm for cost-efficiency and higher productivity, can work out to your
competitive advantage.
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