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2. This is a familiar quote attributed to the 19th century
American philosopher Ralph Waldo Emerson. This
quotation is frequently used to stress that product
innovation is the key to success in business. Most
businessmen know that product innovation is only one
element in building a successful business. Management
schools now find it necessary to conduct seminars titled
“The Better Mousetrap Fallacy” to emphasize that many
factors beyond an innovative product are required to
succeed in the market.
Build a better mousetrap and the world will beat a path to your door
3. The e-retailing industry has its own version of the Better
Mousetrap fallacy, illustrated in the chart below (from
www.pinterest.com)
4. E-Retailers offer an interesting range of
products through an attractively designed
website, establish a convenient payment
process and wait for customers to beat an
electronic path to their portals. A chilling
statistic says that 97% of the new e-
commerce businesses fail. The silver lining,
however, is that the 3% that succeed, make
handsome profits.
5. A March 2015 publication titled the “UPS Pulse of the
Online Shopper” reports on a study of on-line
shopping behavior in the US, Europe, Asia, Brazil and
Mexico. The study was conducted by Comscore for
UPS. Some of the major findings from this study are
summarized in the charts below from the
publication (accessible at www.ups.com).
10. The UPS study clearly highlights the
importance of an e-retailer
• BEING ABLE TO SERVICE CROSS BORDER
CUSTOMERS
• BEING ABLE TO MEET SHORT DELIVERY
EXPECTATIONS
• AND TO BE ABLE TO OFFER FREE DELIVERY.
11. THE BETTER MOUSETRAP IN TERMS OF INTERESTING
PRODUCT LINES ON A WELL DESIGNED WEBSITE WITH EASY
PAYMENT PROCESSES NEEDS TO BE BACKED UP BY AN
EFFECTIVE ORDER FULFILMENT PROCESS THAT CAN ASSURE
CROSS- BORDER DELIVERY AT COMMITTED TIMES AND AT
COSTS THAT CAN BE ABSORBED IN THE PRODUCT PRICING.
THE EFFICIENCY OF THESE BACK-END PROCESSES COULD
DETERMINE WHETHER THE E-RETAILING BUSINESS REMAINS IN
THE 3% SUCCESSFUL BUNCH OR SINKS INTO THE 97% BASKET
OF FAILURES.
12. YAKIT PROVIDES THE TOOLS THAT CAN HELP
MANAGE THE BACK-END ORDER FULFILMENT
PROCESS FOR CROSS-BORDER SALES WITH COST
AND TIME EFFICIENCY. FURTHERMORE, THE
INTELLIGENCE BUILT INTO GUARANTEEING DUTIES
AND TAXES UPFRONT ENABLES THE E-RETAILERS TO
BUNDLE THESE COSTS INTO THE PRODUCT PRICE
AND ENABLE FREE SHIPPING WORLDWIDE. NOW
THERE’S A VALUE PROPOSITION THAT IS FAR FROM
FALLACY.
13. If you want to know more about our cross
border delivery, please fill out the online
form on our website and tell us a little about
your Ecommerce site.
Yakit on +1 408 645 0086.
www.yakit.com