Navigating high costs and unpredictable volumes: Strategies for North American ecommerce

As North American businesses, we have been facing tough inflationary times for what seems like forever. At last, it looks like we may be through the worst of it with inflation trending down, which has led to rises in the North American Stock Markets. Reasons to be cautiously optimistic finally. That said, the reality of rising costs remains, which is still impacting business sales, growth and revenue. For those of us in ecommerce, the current economic conditions remain challenging.

Challenge 1: High Costs Threaten Profit Margins

This single reality is squeezing both demand and margins. Naturally the right decision is to find ways to reduce costs wherever and whenever possible, just as long as it does not impact our customers. After all it is far easier to retain an existing customer than acquire a new one.

Solution: Prioritize Your Customers

This is the time to really prioritize your existing customers and the experience they have with your brand and products. Maintaining your brand promise in challenging times is tough to do but crucial for long term prosperity. It is also time to acquire new customers, companies that want to partner, not only in tough times but in good times too.

Challenge 2: Unpredictable Volumes

High costs for your customers have resulted in declining sales volumes for many ecommerce businesses. With the high costs of interest rates, gas, groceries, and everyday living, customers are even more selective with purchases, prioritizing spending and seeking out deals. This results in unpredictability for ecommerce businesses and creates difficulty with forecasting.

Solution: Explore New Partnerships

The economic facts and uncertainty present an immediate opportunity to look to new markets, to generate new revenue and grow new partnerships. By casting a wider net and reaching out to potential buyers, both new and old, at home and in new countries, we can navigate this period of belt tightening and position ourselves for short-term and long-term success. Finding the right partner with the proven expertise is a game changer.

Landmark Global: Your Trusted Ecommerce Parcel and Logistics Partner

As an ambitious ecommerce business, finding a proven parcel and logistics expert can be the make or break. At Landmark Global, we understand the unique challenges facing North American ecommerce businesses because we have been enabling our customers’ growth since before ecommerce had a name. We not only provide a service that is cheaper, better and faster than anyone in the industry, we also act as your global business resource sharing our knowledge and learnings. The only way to succeed is to work together. We put you and your customers first. The proof lies in our client base; we partner with some of the world’s most iconic brands.

Our ability to quickly navigate and understand your changing needs and those of your customers is our strength. Together we can navigate the current challenges and help you grow. Our full suite of services including parcel delivery, fulfillment, custom trade services and ecommerce technology make Landmark Global the best choice in tough times and beyond.