If you think you’re up-to-date with all the changes for state-level tax nexus regulations, sorry to say, you’re mistaken. eCommerce sales tax is a complex topic, but we’re here to help you.
We’ve seen a flurry of states adding or adjusting requirements, and we expect even more in 2019. For a comprehensive view of the status of each state as of November 26th, please visit Sales Tax Support.
With a total of 33 states having already enacted a nexus, and more to come, how can eTailers prepare their business to manage all of the new requirements?
- Review your sales by state – You should have access to automatic reports that monitor your progress toward reaching both the sales and transaction threshold which trigger a tax nexus in each state.
- Obtain current Tax Tables by state – Once you reach a threshold, you should be prepared to calculate and collect the proper taxes for each state where you have a tax nexus. You will also need to register with the appropriate agency in those states to receive permission to collect taxes.
- Finalize your reporting and remittance strategy – Can you manage the manual reporting and remittance of taxes on a timely basis? Or will you need to engage the services of a third party to help? The answer to this question will tell you whether sales tax collection will become a manageable process or a nuisance for your business.
Freestyle is prepared to help our customers with reporting options within M.O.M. and optional third-party integrations for those who need assistance. Don’t let this become a burden for your business. Reach out to us at: email@example.com
The first milestone of the holiday sales season is over, and we hope that what Amazon calls the “Turkey Five” was everything you hoped for. You worked hard, chose the right products to feature and raked in the receipts.
Don’t think of this as hitting the pause button, but it is time to take stock of, well, what you have in stock.
Some helpful suggestions:
Customer Profile – Knowing your customer is key – their buying habits and hopefully their loyalty is something you can build on. But how can you leverage that information in a way that sets you apart from your competitors?
If you’re a practitioner of Recency, Frequency, Monetary Value (R-F-M), you can use the data you capture to highlight your best and most recent/promising customers to maximize sales potential over the next few weeks.
Not familiar with R-F-M? You can read more about the concept in our two-part series on the Freestyle blog, Customer Scoring in M.O.M. Using R-F-M and How to Implement R-F-M in M.O.M. – these provide all of the information you need.
Inventory Matters! – Now is the time to make sure your commerce site inventory and system of record are in complete, synchronous harmony with each other.
Remember that you can’t sell what you don’t have in stock, well, not without getting into trouble with your customers. Our customers here at Freestyle are focused on inventory every day of the year, and the lesson that we take from that is using spreadsheets to juggle inventory levels across channels is never sustainable. In fact we take joy in having helped end that nightmare for our customers by supplying the tools they need to synchronize inventory across all their sales channels.
Deadlines Ahead – Every one of your customers expects their carefully selected gifts will arrive on time, and to accomplish that you need to know when to ship. The USPS has a lot of helpful information about shipping deadlines during the hectic holiday season.
If you would like to join the discussion please enter a comment below, and if you’re looking for a gift for yourself, a new order & inventory management solution could be just what you need to make your next holiday season merry and bright. Contact us at firstname.lastname@example.org to learn more.
For many eCommerce businesses, understanding the buying habits of Gen Z and turning that knowledge into a successful marketing plan is something of a Holy Grail. The mere fact that this generation is different than the oft-discussed Millennial consumer was a revelation to many, but as we know the technology native Z’er has a different perspective on brand loyalty than the technology adapted Millennial shopper.
No matter the route taken to arrive at the destination of Gen Z sales, it is impossible to understate the economic value of a successful or even moderately productive effort to reach this market. If as some estimate, the buying power of this group can reach $143 billion, that is a lot of sales up for grabs.
One factor that plays into the wheelhouse of modern eCommerce businesses is that Gen Z values a cohesive, easy-to-transact sale on mobile devices, something that we have been preaching to our customer choir over the past year. In fact, the experience within a sale is something that weighs heavily with this consumer group. Measuring and adapting to the preferences of Generation Z as a group and noting the preferences and purchase history of each consumer is something that can prove to be a real challenge to eComm’s lacking the ability to track and segment business. The lesson to be learned is that the success of a marketing plan can be impacted by the system that executes the sale.
For an interesting take on how you can help to build on your strategy to capture business with Gen Z, read “What Gen Z wants for Christmas” from Marketing Dive.
Comment below to join the conversation about Gen Z. Contact us at email@example.com to speak with us about how you can support your front-end strategy to reach Gen Z with a superior back-office application.
Two iconic but troubled retailers took steps to resolve questions about their future this week although their actions can be seen as taking each in a different direction.
JC Penney announced that their vacant CEO position will be filled by Jill Soltau who, until now, filled a similar role for Joann Stores. The company was badly in need of direction and has much to do to secure its financial wellbeing, making this hire now gives Soltau the ability to have some impact on how Penney plans for the Holiday season and in many ways that will be a key factor in how the market views her and the future of the company. Read more about Solatu’s new role as CEO.
Sears shared very different news with the announcement of the closing of eleven stores and that layoffs in some stores would be begin on December 23rd. Sears CEO Eddie Lampert is in negotiation with creditors to restructure debt and to sell assets. The proposal included warnings about near term financial problems. You can learn more about the issues facing Sears and what the future holds for the brand.
What is the future of these two retail giants and is it possible that one or both can survive long term in the new retail climate? We have seen other large retailers fail and while there is some finality to one version of a retailer we also know that they can be reincarnated as FAO Schwarz prepares to reopen a store in New York City. There is also news about a potential revival of Toys R Us.
It is very hard to predict the fate of JC Penney and Sears or whether this incarnation of both stores would necessarily be the last one.
If you have any questions or comments, please contact us at firstname.lastname@example.org.
With the holiday’s fast approaching, we wanted to share posts from last year where we spoke about key areas of an order management system to get the most out of your system during the holiday season.
We wanted to revisit these posts for you that way you guys can get an idea on how exactly these area’s can greatly impact you to have a strong holiday season.
We also will revisit our on-demand webinars we ran last year showing you the inside of Multichannel Order Manager (M.O.M.) so you’re ready to take control of this holiday season, making this one more so than last one the most important holiday season ever.
We covered last year:
- Order Promotions
- Order Entry Essentials
- Ways to Drive Free Shipping
- Shipping Workflow
- Inventory Management
- Protecting Yourself from Phishing Emails
- Reduce Mistakes and Save Money – Warehouse Essentials
- Holiday Returns Management
As always keep a look out on our blog for any latest news, trends for this holiday season.
In our latest eBook we tackle the ever so challenging task of understanding the Nutraceutical industry and how a strong back office system can mean all the difference in the world.
In this eBook, we look at the Nutraceutical industry and how to implement a strategy to manage your complex inventory requirements with a system like Multichannel Order Manager (M.O.M.).
This eBook is available to anyone who is interested in reading about inventory and order management, those who sell in the nutraceutical space and to those who have an interest in the industry and want to see some of the trends impacting the space.
To read more about it, visit our information center. To learn more about what we can do to improve operations for Nutraceutical industry companies, contact us at email@example.com.
In our latest Customer Success Story, we look at long time M.O.M. user, Byrd Cookie Company and how the introduction to M.O.M. Shipping Powered by Shippo has allowed them to ship out products in record time.
We show the two integrations and how they work well with one another, we also hear from Byrd Cookie themselves as they talk about the improvements on the shipping side of things since M.O.M. and Shippo began an impactful partnership.
Watch the webinar where Shippo joins us as we talk about our integration. You can also read about Byrd Cookie’s successes on their shipping process, right on the Shippo site. You can contact us at firstname.lastname@example.org, for a hard copy of the Success Story or any questions regarding the integration between the two.
JC Penney is one of the iconic retail brands in the United States and a place where most of us have shopped. The trouble facing retail giants has visited Penney’s and the past few years have not been kind to the giant with declining sales and store closures being frequent news.
The ship was righted somewhat by former CEO Marvin Ellison who has since moved on to Lowe’s and some triage has been practiced, helping stem the red ink. But recently announced quarterly results have spurred analysts to downgrade the chain’s credit rating and the remainder of 2018 seems to be shaping up as challenging, to put it kindly. The situation is not as grave as what faces Sears and some positives are in place, but the downgraded credit rating will make it far more expensive for the next CEO to borrow the capital needed to chart a new direction.
This news continues what has been a trend of tough headwinds for some retailers while similar department stores like Macy’s, Kohl’s and Neiman Marcus have enjoyed better, if not spectacular results.
All of this makes us wonder how the financial situations of the broad spectrum of large retailers will affect the upcoming holiday season and how their profit and inventory challenges will affect the strategies of pure play eCommerce sellers. It is entirely possible that we will see aggressive pricing from JC Penney both in store and online as they look to move excess inventory in the 4th qtr. Will that be a winning strategy or just further triage? How will smaller companies compete, that is question we will be studying.
For more insight into what lies ahead for JC Penney please visit here.
If you have questions or would like to share your thoughts, please leave a comment or contact us at email@example.com.
Tax policy continues to be the single most discussed topic in the eCommerce industry and it is clear that our customers and prospects are spending considerable time reviewing their new tax collection and reporting tasks.
Our mission at Freestyle is help our customers understand their obligations and to explore the partnerships we have available within our solutions to help them comply with all the changes. The steps we have taken to inform them include the MOM focused webinar held on the August 9th (recording here) and the Webinar we are holding with Avalara, one of our partners, on August 23rd.
During the webinar Avalara will provide their thoughts on the SCOTUS decision and detail how their solution will help eCommerce companies to collect, report and comply with the coming tax changes.
To register for the webinar please visit here.