Automate Your Shopify Store
Learn about the best ways to automate your e-commerce business and manage your inventory across multiple Shopify stores.
MultichannelAchieve Effective Multi-Channel Inventory Management for ShopifyInventory management by itself is undoubtedly hard to monitor, but what about multi-channel inventory sync and management?
Keeping track of your inventory across multiple channels is so challenging most of the time that a multitude of organizations have stepped up. They're focusing on the implementation of best practices and automation software to help you keep everything under control.
This article will explore what multi-channel inventory management is as well as some of the best software to enable you and your customers to get the most out of your Shopify experience.
What Is Multi-Channel Inventory Management?
Multi-channel inventory management (also known as multi-source inventory) is very similar to standard Shopify inventory management with one notable exception: your inventory could be located anywhere around the world and sold through many different channels. This includes retail stores, wholesalers, marketplaces, e-commerce, and warehouses.
Multi-Channel Inventory Management in Practice
Let's say you have an e-commerce storefront on Shopify and decide to sell computer equipment at an affordable price. Inventory management and order fulfillment are fairly easy to keep track of because there are only mouse and keyboard combo sets listed for sale, and all customer orders come through Shopify.
Soon you decide to expand your inventory to include monitor screens. You also start to dream about selling your products everywhere and decide to set up additional storefronts on other platforms: Etsy, eBay, and Amazon. Before long, a large number of orders come through all the platforms, making it suddenly exponentially more difficult to track stock levels.
For example, if you have 25 mouse and keyboard combo sets ready to sell, you could set your inventory to 25 on all your storefronts. However, you're now at risk of overselling. You can try to keep track of everything manually with a spreadsheet, but if you want to keep up with demand, you're either going to have to write a whole lot quicker or adopt a new solution.
That new solution is multi-channel inventory management.
Best Practices for Multi-Channel Inventory Management on Shopify
You want to get the best out of your Shopify storefront—for both you and your customers so that they'll keep coming back for more. Below are some of the best practices to implement for multi-channel management on Shopify:
Perform Regular Audits
Regularly check and double-check your inventory to prevent either overselling or ordering in too much supply for the demand you have. Correct inventory metrics will ensure other calculations, such as your inventory to sales ratio, provides you with the correct analysis.
Eliminate Manual Processes
If your store is doing well and your inventory is flying off the shelves, it's not possible to write down all the information needed fast enough. To keep up with high demand and bulk edit your inventory, you have to upgrade to something more automated.
Use the Right Inventory Management Integration for You
Find the right inventory management integration solution for you and your setup. A wide variety of inventory management apps are available, and not all of them will provide the same functions and benefits.
Multi-Channel Inventory Management Software for Shopify
As previously mentioned, if you want to keep up with high demand, you're going to have to adopt some form of automation. To that end, here are a few of the top-rated apps that you can integrate into your Shopify store with ease:
Multi-Store Power Sync by Egnition is ideal for B2B and B2C businesses. The app automates your inventory and product data synchronization allowing you to save time, manage multiple sales channels, and keep inventory in check.Multichannel Importer by CedCommerce imports from eBay, Amazon, and Etsy and has a free plan available.LitCommerce Multichannel Sync by LitCommerce boasts an easy integration and allows you to import and sell on a variety of platforms, including Etsy, Amazon, and eBay.
Why Should You Use Multi-Channel Inventory Management?
Multi-channel inventory management is an extremely useful practice because it introduces more automation to your inventory management, thereby ensuring you don't over- or under-order inventory and removing the risk of overselling across multiple platforms.
InventoryPreventing Obsolete Inventory in Shopify: 4 Best PracticesAs a Shopify store owner, you may face considerable difficulties if your inventory becomes obsolete.
Obsolete inventory refers to unsold products that are no longer useful or in demand.
Preventing obsolete inventory is essential to avoid wasting valuable resources that could be put to use elsewhere. Although you can dispose of obsolete inventory, it's preferable to prevent it in the first place to minimize your store's losses.
To help you decide how to prevent obsolete inventory, we'll look at four best practices you can employ in your Shopify store to achieve this goal.
» Not sure whether you have obsolete inventory? Here's how to identify it
1. Optimize Your Demand Forecasting
Optimizing your demand forecasts is one of the best strategies to stop obsolete inventory. Precisely calculating consumer demand for your products can help prevent both understocking and overstocking, which can lead to unsold goods.
Using reliable software can help you predict demand more accurately and guarantee you never have too much product on hand. Also, it's crucial to consider seasonal variations and other elements that could affect demand.
» Make the most out of your Shopify inventory forecasting
2. Perform Regular Inventory Audits
To avoid having obsolete stock, you should conduct inventory audits often. This involves physically counting and confirming the inventory levels in your store for improved inventory management.
While end-of-year inventory audits are useful, they might not be enough to prevent obsolete stock. Instead, performing audits more regularly like monthly or quarterly may be a better idea to ensure the early detection of at-risk inventory before it becomes obsolete.
3. Avoid Impulsive Stock Orders
Before placing large product orders for your Shopify business, carefully evaluate your inventory requirements to prevent outdated inventory. While ordering items in bulk can be a good way to save money, you should opt for realistic product amounts and set accurate reorder dates to avoid accumulating unsold inventory.
It's crucial to stay away from rash stock orders based on a hunch or a trend. To make wise order decisions, evaluate your sales data and base your orders around it.
4. Use Reliable Inventory Management Software
To prevent obsolete goods in your Shopify business, dependable inventory management software is a crucial tool. Using real-time inventory tracking can help you adjust your products accordingly and minimize the possibility of financial losses.
In addition to helping you prevent obsolete inventory, reliable inventory management software can help you keep better track of your stock in all aspects, maintaining the constant performance of your Shopify store.
» Learn how to get rid of obsolete inventory with ease
Keep Your Shopify Store Financially Stable
Shopify store owners may suffer severe financial losses as a result of holding outdated goods. By learning how to prevent obsolete inventory and putting these recommended practices into effect, you can ensure your Shopify store keeps operating steadily without having to clear deadstock products.
To make the most out of your inventory, make sure to prevent obsolete inventory before it becomes a problem by opting for automated inventory management, improving your demand forecasting, doing routine inventory audits, and avoiding impulsive stock orders.
Out-of-stockTop Shopify Tips: How to Manage Out-of-Stock ItemsAs a business owner, it is important to keep track of your inventory. Not only is it necessary to ensure that you always have the products that your customers want, but also to avoid overstocking or understocking your products. A good inventory management system will help you keep track of your stock levels and ensure that you are never caught off guard.
4 Best Tips to Improve Your Shopify Inventory Management
Shopify provides several options for managing inventory, and here we'll cover the best practices for implementing them.
1. Deprioritize Out-of-Stock Items
When products sell out, it's important to move them to the end of the collections section of your store. This ensures that your customers can still see them but that they're not as prominently featured as products that are currently available for purchase. Additionally, by moving the sold-out products to the end of the respective collection, it will be easier for customers to find the products that are available for purchase.
2. Use a Custom CSS "Sold Out" Badge
When a product is sold out, you can use the custom CSS tag "sold out" to indicate this in your Shopify store. You can use this tag to change the text color, background color, or font size of the text to indicate that the product is no longer available. You can also use this tag to create a custom message that will appear when someone tries to purchase a sold-out product.
Although this is not everyone's cup of tea, those Shopify owners that have CSS coding skills or have a developer on hand can simply add a customized script to any product listing. Failing this, some Shopify themes will have built-in badges that can be turned on and off in the product's settings. Be sure to check this out before committing to using a custom script.
3. Make Use of Alternative Product Apps
In addition to "sold out" badges, store owners can make use of third-party apps that can add related product sections to Shopify product pages. This allows for more flexibility and organization on the product pages and can help increase sales by providing more information to shoppers.
There are several options in the Shopify App Store, the best of them being Bestsellers reSort and Out-of-Stock Police.
Automatically push your out-of-stock items in real time.Get alerts sent to your inbox or the app when products are running low or out.Avoid losing organic traffic by hiding out-of-stock items in a strategic manner.
4. Turn on Back-in-Stock and Preorder Notifications
To combat out-of-stock products, shop owners can also use back-in-stock and preorder notifications, both of which can be turned on in Shopify to help store owners manage their inventory. Back-in-stock notifications notify customers when a product they are interested in becomes available again, while preorder notifications allow customers to reserve a product before it becomes available.
For back-in-stock notifications, you'll have to use a custom alert app, while for preorder notifications, you can use Shopify's in-house settings. To do this, tick the Continue selling when out of stock box in the product's Inventory section. By doing so, you will still be able to continue selling the product when out of stock. The only difference is that the order will be completed when your store once again has the product available in its inventory.
» Discover the simplest way to add a Shopify back-in-stock notification form
Don't Take Your Products off the Market
Unpublishing products that have sold out may seem like a quick fix, but it actually hurts your SEO and rankings and frustrates your customers by sending them to error pages.
It is, therefore, preferable to use methods such as pushing out-of-stock items to the bottom of your collection, applying "sold out" badges to your products, or implementing automated collection rules to simplify your out-of-stock inventory management.
» Learn how to mark a product as "sold out" in Shopify
Learn more about Egnition's Out-of-Stock Police and how it can help you improve your out-of-stock inventory management:
Product organizationShopify Inventory ForecastingForecasting inventory for Shopify is the process of predicting how much stock needs to be kept on hand in order to meet customer demand. This is done by analyzing past sales data to identify trends and patterns and then using that information to create a forecast for future demand.
Reasons to Use Inventory Forecasting
Demand Planning
Inventory forecasting can help plan for future demand. If a merchant has an idea of what their sales are going to look like, they can order the correct amount of inventory, ensuring that they are not overstocked or understocked.Production Planning
Forecasting can also help plan for future production needs. By knowing how many products a store is likely to need in the future, online store owners and their suppliers can ensure that they have the resources in place to produce products ready for purchase instead of having to manage out-of-stock products.Avoiding Shortages
Inventory forecasting can help businesses identify potential issues with their inventory levels and take corrective action before shortages occur.
How to Forecast Inventory in Shopify
Shopify has a few inventory forecasting methods online merchants can use to stay on top of their inventory, three of which we will cover in just a moment. Shopify stores have in-built sales, inventory, and marketing reports that can be leveraged to track sales and order trends, including sales finance reports, sales over time, sales attributed to marketing, and inventory sold per day.
As handy as these reports can be to inventory forecasting, it should be noted that the ability to access them will depend on the store's current subscription plan. Some stores that are on lower-tier Shopify plans may not have access to all the reports mentioned above.
1. Use Your Store's Analytics Page
Using this feature, you can gain insight into how your inventory is likely to look in the future. Of course, there's one downside to this. If your Shopify store is brand new, you'll lack accurate data to make predictions on how much stock you are likely to require during the next sales period. The good news is that, as your business grows, you'll have the ability to make progressively more accurate forecasts.
2. Use the Shopify Fulfillment Network
The Shopify Fulfillment Network (SFN) is a service that allows Shopify merchants to have their products stored and shipped by Shopify and is available in the United States, Canada, and the United Kingdom. It offers merchants a number of benefits, including lower shipping costs, no required packaging or shipping supplies, and automatic order tracking.
The SFN can help inventory forecasting by providing an automated system to manage and track inventory levels. This system can help to predict when stock is running low and needs to be replenished. Additionally, it can help to identify trends in customer demand, which can then be used to adjust inventory levels.
3. Use Shopify's Stocky
Stocky is a feature available to merchants that use Shopify POS Pro. Essentially, Stocky gives automated suggestions on the products and quantities a merchant should order to meet customer demand. This built-in feature uses recent order history to predict how much stock you'll need and when it's the best time to order.
Here's how to use Stocky for inventory forecasting:
From Stocky's dashboard, navigate to Purchases > New Purchase Order.Determine whether the purchase order is for a supplier or vendor.From Generate, click Using Suggestion.Proceed to enter the remaining relevant details, and then select Create Purchase Order.Once the order is created, send it off to your suppliers and manufacturers for fulfillment.
By creating a purchase order in this way, you are using Stocky's automated inventory forecasting features to make orders based on your store's previous order history. It's a foolproof way of getting your inventory stocked with just the right amount of products every time.
Have a Preview of the Future
Overall, inventory forecasting provides a number of benefits to businesses and can be a valuable tool in managing and planning for future inventory needs so you can avoid selling when out of stock.
Two of the many available third-party Shopify apps, Out-of-Stock Police and Bestsellers reSort, can automatically manage inventory once the initial planning stage has been completed.
Learn how Bestsellers reSort can help you save time and money by organizing your inventory more efficiently:
Product organizationHow to Manage Your Shopify Inventory BetterIf you run a shop in Shopify, you probably want to get the most out of your inventory, which means managing your stock carefully and efficiently. "Shopify inventory" is the term used to describe the products sold and stored through the Shopify platform. Inventory management in Shopify refers to the process of organizing inventory along the supply chain.
How to Manage Inventory in Shopify
When a merchant signs up for a Shopify account, they are provided with access to a hosted e-commerce store, as well as a suite of tools to manage how Shopify works.
Shopify inventory is broken down into two categories: products and variants. Products are the main items sold and stored in a Shopify account, while variants are specific versions of a product, such as the colors and sizes.
Utilizing Shopify inventory management helps you minimize the cost of holding inventory by helping you determine when it's time for products to be replenished or to buy more materials to manufacture them.
Inventory Tracking
Shopify has a built-in inventory management system that helps you manage your Shopify merchandising and keep track of sales. The inventory area of Shopify allows you to track and view inventory while adjusting inventory levels. This feature lets you see the history of inventory adjustments for products and variants that are being tracked by Shopify.
You need accurate inventory in your Shopify store for your customers to place orders. To view or adjust inventory levels for a product, you must first set up inventory tracking. Shopify lets you track inventory history for products up to 90 days in the past.
Follow these steps to enable inventory tracking:
Go to Products in your Shopify admin.Select the product you want to track by clicking on the name.If the product has variants, select the variant you want to track.In the Inventory section, select Track quantity.Check the box Continue selling when out of stock if you want consumers to be able to buy the item even if it's out of stock.Enter the quantity information for each site in the Quantity section.Click Save.
Please note
If you add or edit a variant for the online store and check Continue selling when out of stock, you can sell products even if your inventory is zero or less. Deselecting this option will prevent customers from purchasing the product since you do not want to sell a sold-out product.
» Learn what causes the "Inventory not tracked" message in Shopify and how to avoid it
Managing Out-of-Stock Inventory
Running out of stock is a common problem for Shopify sellers, and here are four strategies for managing out-of-stock items:
1. Move Sold-Out Products to the Bottom of Your Collections
An effective strategy to manage out-of-stock inventory is to simply move it to the bottom of your collection.
Unfortunately, there is no built-in way to do this in the Shopify admin. However, there are several third-party apps, like our own Out-of-Stock Police, that can handle it for you automatically.
2. Hide Out-of-Stock Products
Hiding products from your Shopify store until you are ready to sell again can be accomplished in a few easy steps. Here's how you do it:
Go to your Shopify Admin and click Products.Select Product List.Select the product that you want to edit.If you are adding a new product, select Add a product.Under the visibility section, do not check Online Store if you want to hide the product.
3. Forecast Your Inventory
The goal of inventory forecasting is to predict future demand for products and to ensure that the correct level of stock is available to meet that demand instead of trying to keep selling when out of stock. Several different methods can be used to predict future demand. The most common method is trend analysis, which involves studying past sales data to identify patterns and trends. Other methods include market analysis, consumer surveys, and sales forecasting.
Apps like Out-of-Stock Police let you view statistics per collection and create custom reporting thresholds to know exactly when to replenish stock.
4. Add a "Sold Out" Badge
You can include a badge indicating that the item is "sold out." This allows your customers to immediately determine the availability of your merchandise.
Syncing Inventory Between Multiple Shopify Stores
Creating and maintaining an online store is a cinch with Shopify. Shopify inventory management, on the other hand, may quickly become a source of frustration for business owners with multiple shops.
Fortunately, with apps like Multi-Store Sync Power, it is possible to sync your Shopify inventory in real time. Your inventory will automatically update across all shop locations when you make changes, including adding or removing products.
To summarize, managing inventory is one of the most important aspects of running a successful e-commerce business. By using these tips, you can ensure that your inventory is always available to your customers.
» Is your inventory spread across multiple locations? Automate your multi-channel inventory management with the best Shopify apps
All-in-one image masterShopify Variant Image Management: How to Add, Delete & Hide Your ImagesRunning a Shopify store means you know how important it is to have enough high-quality product images that showcase your merchandise in the best possible light. And if you're offering products with multiple variations (such as different colors or sizes), you'll need variant images to give your customers the full scope.
However, your product variant images need to be properly managed if you're hoping to enhance the customer experience in your store. Knowing how to add, delete, or hide your Shopify variant images can help you create a seamless shopping experience for your customers, increasing the likelihood of them making the purchase and boosting your bottom line.
How to Add Variant Images on Shopify
You can easily add multiple images to variants on Shopify by following these steps:
Log in to your Shopify account and navigate to the product section.Click on the product you want to add variant images to.Scroll down to the "Variants" section and click on the image icon next to the relevant variant.From the pop-up menu, select the "Add image" button and upload your images. Note that you can only upload certain file types and image sizes.Select the image that corresponds to the variant and click "Done."Click "Save" to confirm your changes and finish adding your variant images.
Changing Your Variant Images
Once you've added images to new variants, you'll be able to change them again later. Here's how to navigate Shopify to change a variant image:
Log in to your Shopify account and navigate to the product page where the variant image is located.Scroll down to the "Variants" section and find the variant with the image you want to change. Click on the "Edit" button next to it.In the "Options" section of the editing screen, click on the "Change" button below the image.Click on "Add Image" to upload a new image or select one from the preloaded options to replace the existing variant image.Once you've picked your preferred new image, click "Done" to confirm your selection.When you're done making changes, click "Save" to update the product variant with the new image.
How to Delete Variant Images on Shopify
Sometimes, you may need to delete variant images on your Shopify store, especially if they're outdated or the product variant is sold out. Here are the steps for removing variant images to keep your product information fresh:
Go to your Shopify admin dashboard and navigate to the "Products" section.Click on the product that you want to edit.Scroll down to the "Variants" section and select the variant you want to remove the image from.Click on the ellipsis (three dots) next to the "Bulk edit" button on the pop-up menu.Select "Remove image" from the drop-down menu.Click "Save" to confirm the changes.
How to Hide Variant Images on Shopify
Instead of permanently deleting your variant images, there may be cases when you just want to stop displaying them for a while, like when a particular product variant is currently out of stock. That's when hiding variant images on Shopify can come in handy—and this is how to do it:
From your Shopify admin panel, click on "Online Store" and then "Themes."Scroll down and click on the ellipsis (three dots) next to the "Customize" button for your current theme.From the drop-down menu, select "Edit code."In the left sidebar, click on "Assets" and then "Add a new asset."In the "Create a blank file" section, name the new asset file "custom" and add a ".css" extension (e.g., custom.css), then click "Done."Open the "custom.css" file and add this code:
.product-single__media-item[data-variant-id="VARIANT_ID"] {
display: none;
}Replace VARIANT_ID with the ID of the variant you want to hide the image for. You can find the variant ID by checking the URL—the ID is the number at the end of it.Save the changes to the "custom.css" file.
Using this code, you'll be able to hide the variant image while keeping the variant itself available on the product page.
» Want to hide the whole product variant instead? Follow these steps
Optimize Your Variant Images
While properly managing your variant images is vital for your store's success, this alone is often not enough—you also need to make sure they're well-optimized. By optimizing your images, you can improve page load times and enhance the overall customer experience in your store.
Remove background, resize, and center variant images with easeChoose between JPG and PNG formats and set your preferred qualityAutomatically generate ALT text for variant images
With a solution like the All-in-One Image Master app by Egnition, you can quickly optimize multiple variant images at once to save time and effort. The app's helpful features let you easily compress and resize images, add watermarks, and even convert file formats to ensure your variant images are optimized for the web. Plus, its user-friendly interface makes it easy to navigate even if you're not a tech wizard.
» Find out what Shopify does to optimize your images
Manage Your Shopify Variant Images Like a Pro
Including Shopify variant images is incredibly important for enhancing customer satisfaction and helping your products appeal to a wider audience to promote Shopify store growth. However, you need to properly manage your Shopify variant images relying on the steps above to reap their full benefits.
What's more, you should dedicate special attention to optimizing your variant images for the best results, which is where an app like All-in-One Image Master comes in handy. By combining optimization with careful variant image management, you can quickly and easily realize the full potential of having variant images in your store.
InventoryExcel Inventory Forecasting: Tips, Tricks & TechniquesAccurate inventory forecasting can help you reduce inventory waste and prevent obsolete inventory in your Shopify store while promoting financial health by ensuring adequate stock levels are always available.
Inventory forecasting, or e-commerce forecasting, helps e-commerce store owners better manage their inventory by predicting future product demand based on real-time inventory trends and historical metrics, such as past sales data.
To reap the benefits of accurate inventory forecasting, such as supply level optimization and refined pricing and sales strategy, you can try what many brands do and use Microsoft Excel to conduct your inventory forecasts.
However, while Excel can give you useful insights into sales trends and demand changes, it can be difficult to make out exactly how to forecast inventory in Excel—but we bring you useful techniques and tips to make the process easier.
» Supercharge your Shopify inventory forecasting
3 Techniques for Creating an Inventory Forecast in Excel
Excel is a popular tool for demand forecasting because it's cost-effective and can use conditional formatting. Although it can be error-prone and a bit time-consuming, it can still be an effective inventory forecasting tool that can help you ultimately improve your inventory turnover if you know how to use it properly.
1. Moving Average Technique
The moving average method can help you predict your future inventory demand by looking at the average value of past buyer trends and patterns over a given period. This method "moves," because it takes new data into consideration. For example, if you choose to calculate your average over a 3-month period, this method will use the data from January, February, and March. But next month, the data from February, March, and April is used instead.
Using an average gives you a baseline and helps combat fluctuations that might give you an incorrect reflection of your inventory demands. You can use this formula to calculate your moving averages:
Moving average = Select the revenue earned from the current month + X number of prior months + apply this formula: =AVERAGE(Data Range)
2. Linear Regression Technique
The linear regression technique predicts demand by comparing two different variables—for example, the number of umbrellas sold vs. rainfall amounts. In this example, if you’re forecasting umbrella sales, you'd use the rainfall amount as your independent variable and compare it to the number of umbrellas sold over a certain period to predict future demand more accurately.
To employ linear regression in Excel, follow these steps:
Create three columns and choose one to contain each of the 12 months:
Fill the other two columns with data related to the variables you wish to examine (e.g., rainfall in millimeters and the number of umbrellas sold):
Select the two columns with data and insert a scatter chart into your spreadsheet
Add a linear trendline to the data points:
Your finished graph should resemble this:
3. Exponential Smoothing Technique
Exponential smoothing predicts demand by smoothing out historical data, such as seasonality patterns and confidence intervals. Follow these steps to implement this technique yourself:
Go to the Data menu in Excel:
Select "Forecast Sheet":
Pick a suitable chart (e.g., column or line chart):
Select your end forecast date:
Click "Create" to generate a worksheet with a sales forecast:
» For more accurate forecasts, consider your pipeline inventory as well
3 Tips to Optimize Excel Inventory Forecasting
When using Excel for inventory forecasting, the data isn't always perfect as it can only give you static information. However, you can make the most of Excel's features by optimizing your inventory forecasting using the following tips:
1. Customize Visual Data
Excel offers several customization options that you can use to optimize your inventory forecasting and avoid having to get rid of obsolete inventory. For example, you can customize the visual timeline for specific ranges with color coding and other visual cues that make it easier to understand the data at a glance.
2. Choose a Suitable Forecast Function
While creating inventory forecasts in Excel, you'll be able to use different forecast functions to guide your forecast predictions, such as:
FORECAST: Predicts a future value with linear regressionFORECAST.LINEAR: Has the same purpose as FORECAST, just for newer versions of ExcelFORECAST.ETS: Used for exponential smoothingFORECAST.ETS.SEASONALITY: Calculates the length of a recurring pattern in a timeline to detect seasonalityFORECAST.ETS. CONFINT: Calculates the confidence interval for a forecasted valueFORECAST.ETS.STAT: Determines a specific value based on exponential smoothing forecasting
3. Rely on Third-Party Apps and Templates
Finally, you can also leverage Excel's existing functionalities with third-party software and pre-made forecasting templates. You can simplify the whole process by using tools like Asana, Salesforce, and Monday.com, or downloading free excel templates like this one from HubSpot.
» Get helpful demand insights by tracking your inventory on Shopify
Simplify Your Excel Inventory Forecasting
While Excel is a powerful tool for inventory forecasting, it can also be tedious. However, you can streamline the process and create a more accurate inventory forecast using techniques like linear regression, moving averages, and exponential smoothing. Excel's customizable visual data and third-party software or templates can help you further optimize your inventory forecasting.
Understanding how to properly use Excel for inventory forecasting can help you make better decisions about your stock levels and ensure you have the right products at the right time.
Order to discountShopify Discount Codes: Expert Tips and Examples You Can TrustFor Shopify store owners, running promotional discount codes is a smart strategy to boost product awareness and sales, because it can reward your loyal customers and draw in new ones.
In fact, research on consumer behavior shows that over 60% of consumers would purchase an item online at a discounted price. This is why you should consider implementing Shopify promo codes in your store to bring in new customers on the hunt for a good deal.
Shopify Discount Code Examples
Every Shopify plan allows you to create discount codes, making it easy to offer attractive deals to your customers. For example, you can set an end date for the discount's validity, choose how many times the discount can be used, set a minimum number of orders before the discount is valid, and even combine discounts to incentivize your customers.
Consider these Shopify discount code examples to get started:
Percentage or Fixed-Amount Discount
By reducing prices either with percentages or specific, monetary amounts, you can have more control over the discount amount compared to other discount code types. This is because these discounts aren't necessarily linked to minimum order values or quantities.
Both types of discounts can increase sales by encouraging your customers to make a purchase or even buy more than they planned.
Example:I recently used a Shopify discount code before checkout to get 15% off my purchase, which motivated me to buy more items than I originally intended.
» Easily create a percentage discount on Shopify in a few steps
Free Shipping
Free shipping discount codes waive the shipping fees your customers would normally have to pay when placing an order. These codes are typically entered at checkout.
Compared to other discount code types, free shipping codes are often easier to execute since they don't require complex calculations or adjustments to product prices. Additionally, free shipping can be more attractive to customers since it directly saves them money and provides a clear benefit.
Example:I got a free shipping discount on a skincare products website! This was great because it let me purchase additional items since I knew I wouldn't have to pay extra for shipping.
Buy X Get Y
Buy X Get Y discount codes offer your customers a free or discounted item when they purchase a specified amount of products—for example, "Buy 2 shirts, get 1 free." These codes can incentivize your customers to purchase more items and help you move inventory.
So, you can clear out obsolete inventory by gifting customers items that may not be selling as well. Additionally, you can increase customer loyalty by providing a reward for making a larger purchase.
Example:A Buy X get Y discount helped me get a free bottle of vitamins after buying two other supplement products. This promotion pushed me to buy more vitamins than I planned to at first, and I ended up with a bonus bottle I was able to try out for free.
» Learn how to identify obsolete inventory before setting discounts
3 Tips for Effective Discount Codes
To maximize the impact of your discount codes and drive more conversions, you can try the following strategies:
1. Customize the Discount Code Name
Customizing the discount code name helps create a stronger connection between the code and your brand while also making it easier for customers to associate it with a specific promotion. By choosing a name that reflects the purpose of the code, you can communicate the value proposition more clearly to potential customers.
Example:After deciding to run a promotion for 20% off on all the products in my store, I used a customized code like "20OFFTOYS" to communicate the discount amount while also reflecting my brand's messaging.
2. Add a Discount Timer
Discount timers can create a sense of urgency and encourage your customers to act quickly and take advantage of the deal before it expires. This creates a sense of excitement and can drive sales by motivating customers to make a purchase immediately.
Example:While offering a discount of 15% off on all the hoodies in my store for the next 24 hours only, I used a countdown timer on my website to clearly communicate the expiration time to my customers and spark action.
3. Share Discount Codes via Push Notifications and SMS
Push notifications and text messages are highly effective in promoting discount codes as they can help your business reach customers directly and instantly. By sending targeted messages to your customers, you can increase the visibility of your discounts and drive more sales.
Example:I've benefited from receiving push notifications and SMS sharing from my favorite clothing brand, which alerted me to their latest sales and discounts. This made me more likely to make a purchase, as I was reminded of the brand and the discounts available.
» Automated emails can also help you notify customers about out-of-stock items
Make the Most of Your Discounts With Egnition
Generate personalized discounts from any orderAutomatically calculate percentage and fixed-value discounts or free shippingFree plan available
Shopify discount codes can help you continue to attract new clients and boost revenue. You can increase brand awareness and consumer loyalty by targeting promotions and tailoring discount code names.
To help you make the most of your discount codes, apps like Egnition's Order to Discount make it easy to manage your customer loyalty programs and maintain client satisfaction using the auto-calculation feature.
Multiple storesManaging Multiple Shopify StoresThere are various considerations to make before setting up a new Shopify store, from choosing the right plan to the best inventory management options. If you want to run multiple shops on Shopify, it’s important to have the right strategies in place to keep your multi-site business running smoothly.
3 Reasons to Manage Multiple Shopify Stores
1. Strengthening Your Brand’s Value
Many businesses with luxury brands have outlets or off-price sales to appeal to diverse audiences. This strategy is perfect for businesses with prominent brands. Having your main store as well as another store where price-conscious customers can get cheaper products will prevent you from devaluing your other products and your store brand.
2. Entering International Markets
You can use Shopify's multi-store feature to streamline the process of expanding into other markets. Having distinct Shopify stores makes it easier to adapt your brand to a locale's culture, purchasing patterns, demands, and values. Expanding your brand into new areas can open the door to discovering new clients and broadening your business' reach.
3. Trying Out Different Business Models
You can also use multiple Shopify stores to experiment with different business models. Whether your approach is B2B or B2C, operating multiple Shopify stores allows you to modify your messaging and product presentation, as well as better target your consumer base.
Problems With Operating Multiple Shopify Stores
The multi-store approach complicates inventory tracking and order management, which may be its most significant shortcoming. When customers place orders from different sites for the same product pool, it may cause confusion, delays, and inaccuracies.
In addition, managing multiple shops and duplicating content can be a cumbersome task and divert your attention from many other duties you must complete to keep your business functioning successfully.
» Supercharge operating multiple Shopify stores by solving the common issues
4 Strategies for Managing More Than One Shopify Store
1. Choose the Right Shopify Plan for Your Business
Separate Shopify plans for multiple stores
Shopify merchants are most familiar with the Basic Shopify, Shopify, and Advanced Shopify plans. However, none of them support multiple Shopify stores on the same account. If you already have a Shopify plan, the simplest way to get more stores is to purchase more plans. Multiple stores on Shopify Plus
If you want to manage more than one store on one account, you need to buy a Shopify Plus Plan. This works well for high-volume businesses with massive traffic. Starting at $2000/month, this plan includes ten stores, with each extra store costing $250. Once you log in to your Shopify admin, you can navigate between your multiple Shopify storefronts associated with the same email address.
» Each store needs a separate account, but you can use the same domain
2. Use PIM to Manage Inventory and Orders
Despite Shopify's policy of not allowing managing more than one store from a single account, there's a more cost-effective solution than signing up for a Shopify Plus plan—installing a product inventory management (PIM) system to centralize your inventory.
Using the interface of a PIM app, you'll be able to see how your inventory is distributed throughout all your locations and boost your multi-channel inventory management. When your inventory is synced across multiple stores in this way, making a single modification to your inventory, product details, images, or orders will reflect in all your stores.
» Easily handle multi-store inventory with the best inventory management systems
3. Consolidate Customer Support
Centralizing your customer support is as useful as managing inventory from one place. Having a single customer support system that consolidates all your customer order data and queries will save you time and help you monitor support tickets and other communication for minimum slip-ups.
4. Have a Cohesive Theme
A strong, consistent theme with enhanced visual design helps reinforce your brand identity. Your multiple Shopify stores should be designed around a cohesive central theme. While your products and messaging should be customized for different markets, you don’t want to stray too far from the original design of your site that customers are already familiar with.
» Use the best practices for managing multiple Shopify stores to your advantage
Supercharge Your Multi-Store Management With Egnition
Synchronize inventory levels and update product data across multiple locationsFull multi-location support for maximum flexibilityFree plan available
Operating multiple Shopify stores is a challenging undertaking, but it's worth it considering the increased potential sales, better positioning, and more targeted marketing efforts. In addition to keeping our multi-store management strategies in mind, you'll be able to reap these benefits sooner with the help of a dedicated app like Egnition's Multi-Store Sync Power.
Allowing you to automatically sync your inventory levels across multiple locations, this app can greatly facilitate your multi-store management and help you boost your store's bottom line more easily.