Insurance ProvIders

Online purchase transactions have gone through the roof in The United Arab Emirates and the entire GCC region, as there’s an array of merchants, who are now utilizing eCommerce softwares, such as Shopify. By using softwares such as Shopify they are able to provide people with their products and/or services online. The amount of eCommerce stores has increased drastically in these regions in comparison to The United States, Europe or even in India where the eCommerce sector is much more progressive.

In the last three years or so – this region’s eCommerce sector has been able to take pride in their double digit increase. Though, there are still some common, particular eCommerce pain points, which often slip through the cracks and tend to cause many issues to all eCommerce stores and businesses nationwide.

Below you will find some of the most daunting eCommerce pain points, which eCommerce businesses from all regions are faced with on a regular basis. Here you will also, find some solutions to these eCommerce pain points.

1. Online Management of Inventory & Products. In regards to the list of products that you might have in display on your eCommerce website – have you utilized a competent inventory control system, which automatically syncs to your eCommerce store and your inventory? Moreover, are you getting alerts and/or notifications in regards to your products in and out of stock, changes in prices, special deals, add ons to wish lists, users/visitors shopping as guests and the likes… ?

If you are just getting started and you’re a small business – you’ll be able to save a lot of money by starting off with an eCommerce software, which allows integrated, inventory control. As your eCommerce store begins to grow, later you can benefit from the many advantages of POS Tools and other options available to eCommerce online stores.

2. CMS and Administration. Do you have experience in managing and/or handling the admin panel or the content that goes on your eCommerce online store? Surely, someone in your team is familiar with such platforms and can manage these for you. Moreover, eCommerce content and admin panels can be easily handled with CMS and Shopify.

3. Choosing Payment Gateway Providers. For starters, you need to know the difference between payment gateway providers and the many features that they provide and which are actually beneficial to your eCommerce online store. Moreover, you need to make sure that you are connecting with regional/local gateway providers, as you can only utilize payment gateways that adhere to your region’s requirements and laws.

Payment solutions, such as – credit card or debit card payments are the top payments used globally. These payment methods should most certainly be integrated onto your eCommerce online store. Get in contact with applicable, payment gateway providers, as this is a much quicker and safer way in ensuring your business cash flow.

Listed above are only three of the most common pain points in eCommerce, but we have offered super easy and quick solutions to these common pain points.

In the world of e-commerce, uniqueness rules over others. The e-commerce industry grows rapidly as everyone wants to open a store online to sell unique products. Even teenagers are also showing interest in start-ups with setting up a store online. Among the many fields, fashion products and accessories find a huge business. But, the competition is strict. You will get a new company every day promoting their online stores. So, a customization option is a needed feature if you want to make your store look different. Not only does it add a unique look, but it also gives your store essential personalized functions for your consumers.

There are many e-commerce platforms that allow you to build a store online quickly, including BigCommerce, Shopify, WooCommerce, and more. These platforms have their share of advantages and disadvantages. But, BigCommerce is performing well when it comes to offering a customized store to clients. These stores come up with a huge benefit to grab your consumers’ attention. The below-mentioned factors describe why you need a custom e-commerce website.

Customize your products as per the interest:

Your aim of e-store is to meet your consumers’ demands. This can only be served by a custom online shop. If you have a store of fashionable dresses, you need some personalized filter options like sizes, colors, and fonts to help buyers. If you copy a template, it will not fulfill your all requirement. Since variables are different, you need some special features to mention them. Remember that a well-structured store serves people in the best way and is successful in retaining consumer’s interest.

Store for your unique shipping option:

These days, most of the business stores offer a variety of products that need different shipping options. Your consumers will be happy to get their favorite name for their order shipments. Only a unique store designed consciously will offer such benefits. You can choose BigCommerce platform for designing a store that can easily be changed as per your requirements.

A custom e-store for multiple vendors:

You may be working with multiple vendors and everyone has a different requirements. So, customize options help them use the best way to ship their products. When you have many vendors, your profit earning goal also enlarges. If the services are satisfying for your partners, getting success will be easier.

A store that offers promo-codes and discounts:

Discounts and promo-codes lure audience the most. With a custom e-commerce store, you can plan unique promo codes on the purchase. In e-commerce industry, this move has been recognized as an attractive step. When you design a customized store, you can generate as many discounts as your business needs.

Integrate your store with backend software support:

Backend software is necessary for performing many functions. Integrate the software with the store and easily do some complex works. You may need a software support for tracking your order. So, always opt for a customizable store that allows you to use features of your demands.

Different needs of your customers:

The requirements of consumers are different. While some want an easy purchase, some love to visit an organized store with products in a right place. As people make a purchase decision after several visits, you have to give priority to their wishes.

Need different credit card processors:

Pre-built themes do not always process all credit cards. It may disappoint your buyers and can be a reason for leaving your pages without any action. Add different credit card processors so that you can make your customers happy.

Security concerns:

You have to make your store secure if you want more and more consumers. When the talk is about e-commerce, security issue holds a major importance. You should take a strict step to protect consumers’ confidential data and the payment card details. When you opt for a custom e-commerce store, your store will get boosted with such necessary details.

Managing inventory is important:

An inventory management is a prime concern for all e-commerce companies. When you have a healthy amount of stocks, your company will also run well. To maintain this critical concern, you need to connect vendors with the inventory management system. When your product inventory is running low, the system will generate the order and send it to the vendors automatically.

BigCommerce offers you an easy customize option to help your buyers find products and buy them quickly. Visitors can use a filter option to sort products. This e-commerce platform presents a customer-friendly catalog to buyers.

It is important to have a customize store for you. It helps you with a better exposure and a better profit option. Choose your platform, on which you want to build your store.

This startling figure comes from a recent review of the financial advice offered from the big four banks by the Australian Securities and Investment Commission (ASIC).

Even more startling: 10% of advice was found to leave investors in an even worse financial position.

Through a “vertically integrated business model”, Commonwealth Bank, National Australia Bank, Westpac, ANZ and AMP offer ‘in house’ financial advice, and collectively, control more than half of Australia’s financial planners.

It’s no surprise ASIC’s review found advisers at these banks favoured financial products that connected to their parent company, with 68% of client’s funds invested in ‘in house’ products as oppose to external products that may have been on the firms list.

Why the banks integrated financial advice model is flawed

It’s hard to believe the banks can keep a straight face and say they can abide by the duty for advisers to act absolutely in the best interests of a client.

Under the integrated financial advice model, there are layers of different fees including adviser fees, platform fees and investment management fees adding up to 2.5-3.5%

The typical breakdown of fees is usually as follows: an adviser charge of 0.8% to 1.1%, a platform fee of between 0.4% and 0.8%, and a managed fund fee of between 0.7% and 2.1%. These fees are not only opaque, but are sufficiently high to limit the ability of the client to quickly earn real rates of return.

Layers of fees placed into the business model used by the banks means there is not necessarily an incentive for the financial advice arm to make a profit, because the profits can be made in the upstream parts of the supply chain through the banks promoting their own products.

This business model, however, is flawed, and cannot survive in a world where people are demanding greater accountability for their investments, increased transparency in relation to fees and increased control over their investments.

It is noteworthy that the truly independent financial advisory firms in Australia that offer separately managed accounts have done everything in their power to avoid using managed funds and keep fee’s competitive.

The banks have refused to admit their integrated approach to advice is fatally flawed. When the Australian Financial Review approached the Financial Services Council (FSC), a peak body that represents the ‘for-profit’ wealth managers, for a defence if the layered fee arrangements, a spokesman said no generalisations could be made.

There are fundamental flaws in the advice model, and it will be interesting to see what the upcoming royal commission into banking will do to change some of the contentious issues surround integrated financial advice.

Many financial commentators are calling for a separation of financial advice attached to banks, with obvious bias and failure to meet the best interests of clients becoming more apparent.

Chris Brycki, CEO of Stockspot, says “investors should receive fair and unbiased financial advice from experts who will act in the best interests of their client. What Australians currently get is product pushing from salespeople who are paid by the banks.”

Brycki is calling for structural reform to fix the problems caused by the dominant market power of the banks to ensure that consumers are protected, advisers are better educated and incentives are aligned.

Throughout, history, we have experienced, a variety of economic conditions, and circumstances, including, recession, inflation, and somewhere, in – between! For a few years, we experienced, very – low inflation, largely, caused by a variety of conditions, world – wide, and largely, disrupted – by, the ramifications, and impacts, created and caused, by this horrific pandemic! Currently, we seem to be experiencing, a serious amount of inflation, created, by many factors, including, but, not, limited – to: post – pandemic ramifications; Supply and Demand issues, caused, to a large – degree, by, supply – chain, issues; maintaining, unrealistically – low, prolonged period of near – record – low, interest rates, etc. With, that in mind, this article will attempt to, briefly, examine, consider, review, and discuss, 6 potential dangers, from prolonged periods of inflation, and why, it is important to know, and understand, options and alternatives, to attempt to choose, the best – path – forward!

1. Cost of Living: Some factors, determining, the Cost of Living, include: wages (and wage growth); prices, etc, and how wages, are, or, aren’t able, to keep – up, with the increase in costs, etc! Most realize, we have, in the past – few months, experienced, a huge, jump, in pricing, most – apparent, in the food stores, restaurants, and, nearly, everything, related – to, day – to – day, existence, etc!

2. Federal Reserve: In recent times, the near – historic – low, extended period, of interest rates, has, in addition, to the intended measures (helping businesses, and the economy, in trying – times), has caused a Real Estate, Sellers Market, and, a huge rise, in home prices, in most parts of this country! In addition, it created a surge, in consumer use of credit, because, borrowing, appeared, cheaper! However, most economists forecast, many of these supports, and maintaining, such low rates, will, gradually, be reduced (or minimized), probably, beginning, next year. What impact will that have, and will we see, the historic reaction, which has been, when rates rise, it helps reduce inflation, etc?

3. National economy/ conditions: Largely, because of a world – wide, supply – chain, set of obstacles/ challenged, many industries, have experienced, challenges, in terms of, getting sufficient amounts of needed materials, etc! Go into, nearly, any store, and you will see, more – sparse, shelves, than we have seen, in recent memory! In addition, building supplies, products, food, toys, cars and car parts, etc, are under – stress, because of this!

4. Worldwide economies/ economic conditions: Nearly, every nation, is experiencing, economic issues and challenges! The United Kingdom, because of worldwide, as well as specific national trends/ causes/ conditions, has been largely, impacted! Since, we live, largely, in a global economy, when there is any disruption, in the supply – chain, it affects, everyone!

5. Stock and Bond Markets: Because of several reasons/ factors, the United States Stock Market, has benefited, significantly, and experienced, significant increases, in the price of stocks. In addition to the obvious ones, because, interest rates, have been, so low, many investors, believed, stocks, were, nearly, the only game – in – town! When, if, interest rates, rise, bond rates, will rise, and existing, bond prices, will adjust, and drop!

6. Immediate, intermediate, longer – term ramifications/ impacts: The immediate impact of inflation, is, usually, rising prices, and, wages, which, usually, rise, at a far – lower rate! In the intermediate – period, we begin to see, weakening economic trends, and in the longer – term, depending on how long, it ensues, there are often, several, undesirable ramifications, and impacts!

Don’t take inflation, and its risks, for – granted! The more you know, and understand, the better prepared, you will be!

Although, we hear, a lot of opinions, about, interest rates, and their trends, and impacts, very few people seem to understand, the significance, and importance/ relevance, of these rates, in several areas of our lives! After, many decades of involvement, in political campaigns, leadership, leadership training/ planning, real estate, financial sales and consulting, etc, I strongly believed, one benefits, by understanding, more about these, and how they affect, many things, in our lives! Whether, related to personal, organizational, and/ or, public finance/ spending, home ownership and related costs, credit – related issues, business matters, stock and bond pricing, etc, interest rates, truly, significantly, matter! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 5 of these areas, and how the cost – of – money, makes a significant difference.

1. Bond prices and interest rates: The price of a bond, generally, is inversely – related to interest rates! When these rates go down, prices, rise, and when they go up, the inverse occurs! Bonds have, what is known, as, a par – value, which is the price, paid, at the end of the term. Markets usually set these at 100, which represents $1,000 per bond, at maturity. However, during the period, the pricing can rise or fall, which impacts, liquidity – related issues!

2. Mortgage rates: For the last few years, we have been witnessing and experiencing, record – low, mortgage interest rates, which have helped the overall, real estate/ housing market, especially, in terms of, pricing increases! In most areas of this country, we are seeing, home prices, at their highest levels, ever, by a significant, dramatic amount! When this rate, is low, a home buyer is able to buy, more – house – for – his – bucks, because, his monthly payments, are so low! Consider, however, what might be the potential ramifications, and impacts, when these rates, will, inevitably, rise?

3. Consumer credit: Low costs of borrowing, help the automobile industry, in terms of consumer financing, etc! Although, not as much as other vehicles, rates on credit card debt, are lower, and there are often, shorter – term, promotions, offering deals! However, since, most of these are variable, and based, on some index, etc, what happens, when there is an increase, in this?

4. Business borrowing: Another area affected, is business cost of borrowing! Presently, they have had access, to relatively, cheap – money, which helps in reducing the costs of borrowing, overall operations, purchasing inventory, etc. But, what happens, when this, ticks – up?

5. Impacts on stock market prices: For some time, because bonds have paid so little, in terms of dividends, etc, many have considered, the stock market, the only game, in – town! In addition, many corporations, have seemed, better – off, than they probably are, and we have witnessed, a higher, ratio of prices to profits, than in the past! How long will this last? How high can it go?

Many factors impact these issues, especially: actual and/ or, perceived inflation; consumer confidence; politics/ government actions/ the Federal Reserve, etc. The more you know, and understand, hopefully, the better – prepared, you will be!