Should You Add Buy Now, Pay Later Options to Your E-commerce Site?

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There have never been as many ways to pay online as there are today. Nor has it ever been more important to make sure you offer your consumers their preferred option. For some, that might be a long-trusted Visa or Mastercard. Others may prefer Apple Pay, PayPal, or another digital wallet. And, increasingly, consumers are choosing to use buy now, pay later solutions when they checkout. But what is this payment solution? And is it time you added buy now, pay later to your website? Read on to get my views on the topic. What is Buy now, Pay Later? The name says it all. “Buy now, pay later” literally lets consumers buy a product and have it delivered while delaying payment until a later date. This option is very similar to the old-school layaway method, in which stores let consumers reserve an item while paying it off in installments. Once all payments were made, they’d then be able to take the item home. Buy now, pay later offers an even more consumer-friendly alternative to layaways. There’s no need to wait to access the item until it’s paid off in full—consumers only have to wait for their items for as long as they take to reach their doorsteps. You’ve probably seen buy now, pay later payment options at checkouts in many places you shop. Mattress company Leesa partners with Affirm. Anthropologie partners with Klarna. Sezzle partners with Bodega. Unlike layaways, consumers don’t necessarily use buy now, pay later to fund expensive purchases. They use the payment method to buy all kinds of things, from everyday needs like clothing and homeware to big-ticket items like fitness equipment. While there are several options for buying now and paying later, they all broadly offer the same thing. The consumer gets to make repayments over several installments (typically between two and four) or in full within 14 to 30 days. Failing to pay will usually result in a fee, but not always. One of the reasons buy now, pay later solutions are proving so popular is because they offer consumers an easier way to access credit. Unlike credit cards, which require users to hand over a lot of information and pass a rigorous credit check, buy now, pay later providers only ask for a consumer’s name, email address, date of birth, and billing address. The solutions also mirror the purchasing habits of young consumers …

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Shopify Review

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Disclosure: This content is reader-supported, which means if you click on some of our links that we may earn a commission. One platform where you can sell just about anything to anyone anywhere? That’s Shopify in a nutshell. But once you unpack it, it’s easy to see why it powers over 1 million websites and manages billions in sales. Gone are the days when you had to figure out how to start an ecommerce site from scratch. With Shopify, having a virtual storefront up and running is possible in a matter of minutes. It offers you plenty of marketing tools to make your store a success from the start. Whether you’re a small business starting up or you’re already raking in millions in sales, Shopify is an extremely powerful ecommerce website builder that helps your online business empire run smoothly, capture sales, and grow. Shopify Compared to The Best Ecommerce …

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The Best Credit Card Processing Companies (In-Depth Review)

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Disclosure: This content is reader-supported, which means if you click on some of our links that we may earn a commission. There are many touchpoints along the customer journey. The transaction is of course one of the most important, if not the most important. So, the way in which you accept payments matters for both you and the customer. You need to have the right software and/or hardware in place to make sure transactions are simple and secure for both parties. Not only that, as a business owner you need to know that you’re not shelling out cash on inferior services or unnecessary additional fees. Therefore, this post will cover everything you need to know about choosing the right credit card processing company. Plus, I’ll introduce my top picks for a wide range of businesses of different sizes and with different needs. The Top 10 Credit Card Processing Companies Square …

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Best Business Credit Cards

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Disclosure: This content is reader-supported, which means if you click on some of our links that we may earn a commission. A business credit card is much more than just a convenient payment method; it’s a way for you to earn rewards and benefits for your company. The best business credit cards offer features like purchase protection, membership rewards, travel insurance, and some even pay you cash. Your next big purchase could result in a free flight, a free night in a hotel, or even a few hundred dollars back into your pocket. You can’t get these types of benefits if you’re using checks or ACH transfers for business purchases—credit cards are the only way to access these perks. But all business credit cards are not created equally. Navigating the waters and trying to find the best option for your business can be tough, especially with hundreds of choices to …

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6 Alternatives to Amazon For E-commerce

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With a net worth of $1.7 trillion , Amazon has dominated the e-commerce sector for years, leaving many of its competitors in the shade. But are there alternatives to Amazon? With an audience as vast as Amazon, small business start-ups and solo entrepreneurs flock to the site to sell the products, get established, and build their enterprises. Despite the audience Amazon offers, you may want to look for other online venues to list your items . There are many good reasons to broaden your e-commerce horizons. First, it makes little sense to put all your eggs in one basket. Second, selling on a wider range of marketplaces gets your products in front of a larger audience. And finally, looking at the other choices available could save you money on fees, or get you closer to your target buyers. Below are some viable alternatives to Amazon. We’ll look at their advantages, …

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How to Use Instagram Shopping to Drive Product Sales

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Have you used shops on Instagram? With over a billion active users and growing, Instagram may already be one of your favorite places to promote your e-commerce store. However, lots of opportunities exist for marketing on the channel , so it can be a great place to build a follower base and get the word out about your products and brand. What if you could take passive interaction to the next level and actually buy and sell directly from the platform? That’s possible with Instagram shopping. This can be enticing for Instagram users and e-commerce shops who want to keep their interaction, from discovery to sale, right there on Instagram itself. What Is an Instagram Shop? Instagram shops are an option for Instagram account holders who have e-commerce brands to sell directly from the Instagram platform. They provide a way for Instagram users to interact and shop with brands they …

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The Good and Bad of Deadstock Products for E-commerce

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E-commerce retailers face many obstacles in the realm of online business. A common yet persistent issue is deadstock products. The accumulation of deadstock inventory can drive up operational and warehouse costs. As more products enter the warehouse, the cost of storing unsold items can drain the valuable financial resources of your business. What’s more, seasonal trends and products make it difficult to eliminate deadstock products completely. How to solve this problem? This article explains how to avoid deadstock and how to get rid of it when it piles up in your warehouse. Let’s start with the definition for deadstock first. What Does Deadstock Mean? Deadstock is synonymous with dead inventory. These are items that haven’t been sold and are very unlikely to sell. If you don’t use an inventory management system, these goods likely pile up and remain forgotten in your warehouse. An alternative definition of “deadstock” refers to goods …

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Best Merchant Services

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Disclosure: This content is reader-supported, which means if you click on some of our links that we may earn a commission. Merchant services exist to help businesses process credit card payments. You might know them by the name “credit card processors.” Regardless of what you call them, choosing the best merchant service isn’t easy. The “best” one is the one that is right for your specific business, and each of the following services offers particular features that may work for one company, but not for yours. That’s why, in this guide, I’m catering to each type of business and finding the right merchant service for your needs. The Top 6 Merchant Services: Square Flagship Merchant Services Helcim Payment Depot Fattmerchant Stripe How to Choose The Best Merchant Services For You Before we get into the best merchant services, we need to understand the criteria used to make these decisions. Keep …

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What Shifts in Product Demand Mean for SEO

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Posted by SabrinaBomberger If you’re working in e-commerce through the COVID-19 crisis, you’ve likely noticed some wild shifts in the way your products are viewed and consumed by the public. After all, the needs of the entire world have changed in some capacity. It makes sense that purchasing habits have, too. This shift in demand might require an equal shift in your marketing strategy. As an SEO, you need to make sure that you understand the new demands on your product in the given market, and ensure any on-site changes are SEO-friendly. These strategies apply not only in the midst of our current pandemic, but also during any rapid or unexpected change in product demand. E-commerce sites are facing two very different scenarios With my own e-commerce clients, and as a consumer myself, I’ve noticed two ways that the COVID-19 outbreak is affecting product demand: 1. Your product is suddenly …

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How to Create an Ecommerce Website

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Disclosure: This content is reader-supported, which means if you click on some of our links that we may earn a commission. The future of ecommerce shines brighter than ever. E-retail sales account for 14.1% of all retail sales across the world. Statista has predicted that the above figure will grow and reach 22% in 2023 . Despite global economic uncertainty, ecommerce continues to thrive and grow at a steady rate. The U.S is the second largest ecommerce market in the world, with $586.9 billion . See what I mean? And like how every shiny thing isn’t gold, starting a thriving ecommerce business isn’t easy. There’s so much that goes into creating an ecommerce website. The first place to start your online business journey is to select the best ecommerce website builder—one that’s efficient and affordable. This does sound daunting, but it really isn’t. Read on as I teach you how …

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Influencer Marketing for E-commerce: Tools and Tips to Grow Your Brand

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To have a successful e-commerce platform, you have to pay to play. Some of the top US brands spend billions on advertising to secure their internet advertising space. If you can’t keep up with the big companies that spend billions of dollars on their advertising campaigns, there are still a few ways you can get your brand noticed. One such method is an influencer promotion campaign. It’s a quick and effective way to help with brand recognition. You could also invest in some tools that will make working with influencers simpler. In this guide, we will break down these unconventional forms of marketing. How Using Social Media Influencers Can Grow Your E-commerce Brand Influencer marketing is the practice of working with well-known social media users to grow your brand. For example, if you have a popular skincare line, you might have a well-known lifestyle influencer try your product and tell …

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