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Recession impacting sales of sites with large average order sizes

Discussion in 'eCommerce' started by Bluehops, Jul 6, 2022.

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  1. #1
    I've got an eCommerce store which sells kids furniture and has an average basket size of approx. £300. Sales are struggling at the moment (likely due to recession) so I'm trying to kick start things again.

    I'm trying to understand more from some e-commerce store owners which also have largish average order sizes to see if you've been equally affected.

    Specifically, I'm trying to understand more about:
    - how you optimise your customer conversion
    - how you consider new payment methods to increase conversion (such
    as Buy Now Pay Later),
    - Offer and discounts you put on to increase conversion, and
    - how you manage your inventory efficiently to reduce costs.

    As well as my e-commerce store I'm a fully qualified accountant, so if I can give you any free advice around the finances of your e-commerce store, I'm happy to return the favour.
     
    Bluehops, Jul 6, 2022 IP
  2. tech-guyz

    tech-guyz Member

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    #2
    There are many payment method services. I personally use WooCommerce as it has most of the payment gateways you need, IE credit cards, Paypal Applepay and more.

    But for buy now pay later, look at Affirm https://www.affirm.com/
     
    tech-guyz, Jul 8, 2022 IP