In the United Kingdom, The Financial Services Authority (FSA) was formerly the regulating authority for most aspects of the EU's Payment Services Directive (PSD), until its replacement in 2013 by the Prudential Regulation Authority and the Financial Conduct Authority. The UK implemented the PSD through the Payment Services Regulations 2009 (PSRs), which came into effect on 1 November 2009. The PSR affects firms providing payment services and their customers. These firms include banks, non-bank credit card issuers and non-bank merchant acquirers, e-money issuers, etc. The PSRs created a new class of regulated firms known as payment institutions (PIs), who are subject to prudential requirements. Article 87 of the PSD requires the European Commission to report on the implementation and impact of the PSD by 1 November 2012.
Incompetech is one of my go-to places for great royalty free music. The site was created by composer Kevin MacLeod and has tons of music, categorized by genre and feel. In the site’s FAQ you’ll see that the music on the site is free to use for your video soundtrack. Kevin just asks that you place a credit within the video. My favorite music on this particular site are the tracks in the Silent Film Score section, but you can find all sorts of great stuff from horror soundtracks to polka, rock, pop and everything in between.
E-commerce allows customers to overcome geographical barriers and allows them to purchase products anytime and from anywhere. Online and traditional markets have different strategies for conducting business. Traditional retailers offer fewer assortment of products because of shelf space where, online retailers often hold no inventory but send customer orders directly to the manufacture. The pricing strategies are also different for traditional and online retailers. Traditional retailers base their prices on store traffic and the cost to keep inventory. Online retailers base prices on the speed of delivery.
The guide opens by providing Basic lessons that are curated to help you learn the essentials needed to quickly get your eCom store live with 4 products and start selling to customers within your country in 1 language and 1 currency. Starting with 4 products and keeping things local is an intentional lesson plan. The Basic lessons will introduce you to setting up products in a digestible way so you can take on the rest of your inventory and internationalize your eCom store with confidence in the Enhance level of the guide (coming soon). These 4 products will also give you an online presence so you can sell while you build!
At this stage, you’ll be itching to get the store out into the World Wide Web. However, make sure you’re well prepared to measure the success of your launch – defining your key performance indicators upfront will help you track your progress and performance and fix any issues as they emerge. Other important things to take care of include setting up your social media profiles, getting the email marketing ready, installing Google Analytics, doing keyword research, defining your shipping strategy and finalizing the launch promotion plan. Yes, that’s a lot of work, but a good start is half the job done. When you complete the checklist, try running your store through the Shopify store grader to catch errors if there are any.
Establishing a clear, strategic direction that’s truly motivating, communicating frequently and openly, staying humble and grounded, listening carefully and empathetically, and providing a supportive work environment that’s open, transparent, non-political, and fully meritocratic are some qualities that leadership should possess to keep employees motivated and working for the company’s best interest. Giving freedom, establishing transparency between teams and leaders, acknowledging peer-to-peer relations, and eliminating room for politics are powerful strategies for leaders to keep their employees motivated.
With Shopify, we've been able to create 3 customized web sites; NaykedApparel.com, NaykedPromos.com and NaykedWholesale.com that target three different demographic groups with unique buying habits. Shopify has enabled us to quickly and without a lot of coding experience, create unique shopping experiences that have resulted in increased sales for all 3 sites.
Ad targeting can be the key to a successful online business. Zapier makes that manual process a cinch, by automating the data between Shopify and Facebook. Once you have configured this integration, Zapier will monitor every new paid order in Shopify, adding the events to Facebook's Offline Conversion tracking to help you narrow your targeting for the best possible leads.
The online shopping industry, or e-commerce, is a continuously growing and evolving marketplace. The .ECOM TLD offers a credible and intuitive namespace for all e-commercial businesses, whether brick-and-mortar, SME, or Fortune 500. Having a recognizable TLD like .ECOM works as form of marketing, because users are able to easily identify the purpose of a site by the extension used. .ECOM benefits not only businesses but customers and review forums as well.
I think the thing about Shopify is that they allow you to integrate your offline and online systems, instead of having them separated and trying to reconcile your business data. Think of it as backend integration and support. If you change your backend data, such as pricing, inventory levels, etc, everything is sync’d up allow you more time to grow your business. (if you haven’t see our thoughts on Shopify POS yet, see this)
As a business owner with a background in Graphic Design we really appreciate Shopify's great looking existing store theme's. Shopify allows us to focus on our core business and not only shows off our Poseidon Surf brand visually but allows us to sell a multitude of products with ease. Another benefit is that many of our staff and new staff is familiar with Shopify which makes product updates even easier.
The downslide was the human component.The recruitment failed to keep pace with the growing demands and the latest rules and regulations on the subject were not known.The attrition rate was too high.The recruitment was very fast and indepth checking could not be done,with the result the pilferages were og high magnitude.The Technology was not in RIGHT place and the shipments were often loaded for different destinations,which were consequently rectified.
I agree that Shopify’s lack of volume discount and quantity breaks is frustrating and something that they need to address. I believe they were looking into adding this into Shopify 2, but it doesn’t look like it ever materialized. As you noted there are a fair few apps and add-ons that can add this feature for an additional cost but I agree that it should be built into the native interface.
E-commerce brings convenience for customers as they do not have to leave home and only need to browse website online, especially for buying the products which are not sold in nearby shops. It could help customers buy wider range of products and save customers’ time. Consumers also gain power through online shopping. They are able to research products and compare prices among retailers. Also, online shopping often provides sales promotion or discounts code, thus it is more price effective for customers. Moreover, e-commerce provides products’ detailed information; even the in-store staff cannot offer such detailed explanation. Customers can also review and track the order history online.
Business-to-administration (B2A) refers to transactions conducted online between companies and public administration or government bodies. Many branches of government are dependent on e-services or products in one way or another, especially when it comes to legal documents, registers, social security, fiscals and employment. Businesses can supply these electronically. B2A services have grown considerably in recent years as investments have been made in e-government capabilities.
However, e-commerce lacks human interaction for customers, especially who prefer face-to-face connection. Customers are also concerned with the security of online transactions and tend to remain loyal to well-known retailers. In recent years, clothing retailers such as Tommy Hilfiger have started adding Virtual Fit platforms to their e-commerce sites to reduce the risk of customers buying the wrong sized clothes, although these vary greatly in their fit for purpose. When the customer regret the purchase of a product, it involves returning goods and refunding process. This process is inconvenient as customers need to pack and post the goods. If the products are expensive, large or fragile, it refers to safety issues.
If you find yourself in need of support, then Shopify has one of the best teams in the industry. Regardless of which pricing plan you decide on, the company has 24/7 full customer support, which includes phone support as well as chat and email support. Another great form of help offered by Shopify is the access to a sizeable support system directly through their website, including user forums, tutorials and FAQ’s.
E-commerce has allowed firms to establish a market presence, or to enhance an existing market position, by providing a cheaper and more efficient distribution chain for their products or services. One example of a firm that has successfully used e-commerce is Target. This mass retailer not only has physical stores, but also has an online store where the customer can buy everything from clothes to coffee makers to action figures.