Fairfield, New Jersey, resident Keith Mirchandani is a graduate of the owner/president business management program at Harvard Business School and has worked in the housewares industry for almost 30 years. As the president and CEO of Tristar Products Incorporated, Keith Mirchandani has experience with e-commerce and direct-to-consumer sales.
E-commerce is a continually growing segment of business that has made major advancements in the last decade. It has opened up the marketplace, and businesses are flocking to online platforms to sell their goods and services. Every year trends fluctuate in the sector, and 2021 will feature some specific tendencies.
A major boom in e-commerce competition is expected in 2021. With a very accessible marketplace for new businesses, overhead costs cannot compare to traditional retail. E-commerce-based businesses will have to do more to survive against heavier competition or risk failing.
Getting orders to consumers will be a big factor in determining success, as fulfillment becomes a top priority. Shipping costs must be competitive, and businesses will need to strategically plan every part of the shipping process to ensure they can get orders to customers faster than the competition.
Analytics will become increasingly important for businesses to succeed in the online marketplace. Being able to effectively target the right demographic, and having the right content, marketing, and advertising, will all rely on studying advanced analytics to get the most out of market research.
Keith Mirchandani 