E-commerce has become one of the most booming industries today. Technological advancement and changed customers’ behavior has added fuel to the expansion of the e-commerce industry.
If recent studies are taken into account, more than 94% of transactions will be made online in 2024. This number is huge. That being said, we can’t ignore the brutal competitions in the industry. More than half of the e-commerce businesses fail to meet customers’ expectations and fall to ground soon after their rise.
To be a part of this ever-growing industry, you should make sure that you’re adopting the right way and taking the right resources on board to garner significance in this competitive industry. Having feature-rich VoIP phone service tops the list. This one technology has all the powers to level-up your operations, streamline things, please customers, and make data available immediately.
Let’s find out how VoIP can do this.
Your success depends on the quality of customer service
In the e-commerce industry, businesses don’t get a chance to please customers with face-to-face interaction. It’s just the telephonic conversation, email or SMS exchanges, or a video call (in special cases) that keeps both ends connected. That’s why your phone service, or the hosted phone system must be unified, comprehensive, and around the clock available if you seek success for your e-commerce business.
Well, nothing can help you achieve all this as much as a business VoIP phone service will do. It comes with numerous features specifically designed to please the callers. There is call forwarding (ensures no caller has to wait for long), IVR (to offer immediate self-assistance), on-hold music (makes waiting time pleasant), unified communication (gives customers the freedom to contact you the way they want), and CRM integrations (brings every information at a centralized place).
All these features of VoIP phone service are more than features. They are the tools to win the customers’ hearts, increase customer loyalty, and offer impeccable customer service. When you have them by your side, success is sure.
Around the clock availability
The number 1 reason behind such a mammoth success of the e-commerce industry is that it allows customers to buy all hours of the day. So, you should also offer customer service at all hours of the day. But how is it going to happen?
Using a hosted phone system, you can set-up multiple location customer service centers without investing a huge amount of money. As it can work from a mobile device, your agents can work while on-the-go. This has also helped e-commerce businesses to overcome the time limitations. Using VoIP, your agents can answer important calls beyond the work hours.
To make your customer service more independent from the time limitations, you can hire an off-shore team where the time-zone is different. For example, if you run an e-commerce business in the US, then you can deploy a customer service team in Asia. This way, you need not force your agents located in the US to answer a customer’s call in wee hours. Your agents based in Asia can answer late-night customer calls without having qualms as s/he would be enjoying the morning tea or already set to work.
The point to ponder here is that all of this can be done at a very low cost. You don’t need to burn out a huge chunk of your limited investments (if you’re a small business). Buying a virtual phone number is cheaper than your lunch.
This type of availability has helped e-commerce businesses to ensure around-the-clock customer service available with the same surety, which they claim in offering around-the-clock buying experience. Only VoIP has that power.
Hassle-free up-selling
No matter which business you run, you must never lose a single business opportunity. However, convincing customers to buy anything is not as easy as it seems from the surface.
What if we tell you that you can sell while your customers are waiting for a call to get answered?
Yes, you read that right.
It is possible, and your business VoIP phone service makes it happen. As we have already told you that it comes with a feature called on-hold music, you can use this feature to up-sell without making any efforts. Instead of using standardized music, you can use a promotional message.
You’ll be astonished to know that 16% of persons have already made a purchase like that. Can selling be easier than this? We doubt the big time.
Final words
Though VoIP phone service is a boon for every industry, its significance in the e-commerce industry is beyond imagination. Once implemented right, this enables e-commerce businesses to upkeep the promise of around-the-clock availability without making any compromise on quality service.
In summation, if you’re planning to start an e-commerce business or already running it without VoIP, open your arms for VoIP and unleash various growth opportunities. Get your virtual mobile phone number today and redefine success for your e-commerce business.
UK-BASED Nanak Hotels recently acquired the 60-room Kings Court Hotel, a 17th-century property in Warwickshire, England, for £2.75 million. This is the first regional acquisition by the privately held firm led by British Indians Harpreet Singh Saluja and Karamvir Singh.
Nanak Hotels, which operates a UK property portfolio, plans to invest in the property's refurbishment and repositioning, according to a statement from Colliers International UK, which brokered the transaction.
“We’re excited to bring Kings Court Hotel into our portfolio as our first Warwickshire acquisition,” said Saluja. “It has a solid foundation and loyal customer base. We see potential to develop the hotel while preserving its heritage.”
The West Midlands hotel, on a 4.2-acre site between Alcester and Redditch, began as a 17th-century farmhouse and now operates as a hospitality business with public areas, event and conference facilities and wedding capacity for up to 130 guests.
The hotel’s previous owner said Kings Court had been central to their work for over 30 years.
“It’s been a privilege to grow it into what it is today,” the owner said. “As we retire, we’re pleased to see it pass to a new owner who shares our commitment to hospitality and has a vision for its future.”
“The sale of Kings Court Hotel drew strong interest due to its size, location and trading performance,” said Josh Sullivan and Peter Brunt of Colliers International UK. “We’re pleased to have completed the transaction with Nanak Hotels and look forward to seeing how they develop the asset.”
In February, UK-based Shiva Hotels, led by founder and CEO Rishi Sachdev, secured $372m (£289m) to renovate The BoTree in Marylebone, London. Separately, Indian tech firm Oyo announced a $62m (£48m), three-year plan to expand its UK hotel portfolio by acquiring inventory and securing leasehold and management contracts, supporting 1,000 jobs.
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PRIYA NAIR has been appointed as the CEO and managing director of Hindustan Unilever Ltd (HUL), effective from August 1. She will be the first woman to lead the company in its history.
The announcement was made by HUL on Thursday (10). Nair, who currently serves as president, Beauty & Wellbeing at Unilever, will take over the role from Rohit Jawa, who will step down on July 31 to pursue other interests.
She has been appointed for a five-year term and will also join the HUL board, subject to necessary approvals. She will continue to be a member of the Unilever Leadership Executive.
Nair began her career with HUL in 1995 and has held various roles across sales and marketing in the company’s Home Care, Beauty & Wellbeing, and Personal Care businesses.
Between 2014 and 2020, she served as executive director, Home Care and later as executive director, Beauty & Personal Care from 2020 to 2022. She then moved to a global role as the chief marketing officer for Beauty & Wellbeing at Unilever, and in 2023, was named president of the business.
Under her leadership, the Beauty & Wellbeing division has grown into a more than £10 billion global business covering hair care, skin care, prestige beauty, and health and wellbeing, including vitamins, minerals and supplements.
She has overseen brand building, innovation, revenue growth, digital transformation, and profit delivery.
Speaking on her appointment, HUL chairman Nitin Paranjpe said, “Priya has had an outstanding career in HUL and Unilever. I am certain that with her deep understanding of the Indian market and excellent track record, Priya will take HUL to the next level of performance.”
Nair’s appointment comes after Jawa’s two-year term, during which the company focused on volume-led growth. “On behalf of the Board of HUL, I would like to thank Rohit for leading the business through tough market conditions and strengthening its foundations for success,” Paranjpe added.
Over her 28-year career, Nair has built and managed several leading consumer brands. She is recognised for turning around underperforming businesses and leading cross-functional teams.
The Indian executive has also served as an independent director on the board of a publicly listed Indian company, a board member of the Advertising Standards Council of India (ASCI), and a member of several government-backed partnerships and industry bodies.
Nair currently lives in London with her husband and daughter.
(with inputs from PTI)
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The Canary Wharf business district including global financial institutions in London.
THE UK economy contracted unexpectedly in May, marking the second consecutive monthly decline, according to official data released on Friday. The figures present a challenge for the Labour government as it attempts to revive economic growth.
Gross domestic product fell by 0.1 per cent in May, following a 0.3 per cent contraction in April, the Office for National Statistics (ONS) said in a statement.
Economists had forecast a 0.1 per cent increase in GDP.
The data comes at a time when prime minister Keir Starmer's government is dealing with global challenges, including US tariffs and persistent inflation.
The Labour government’s fiscal strategy relies heavily on economic growth, particularly after recent reversals on welfare cuts and winter fuel payments for pensioners.
Finance minister Rachel Reeves described the figures as "disappointing" and said there was "more to do."
Labour has announced plans to reduce red tape and has unveiled a multi-billion pound investment programme aimed at the National Health Service and infrastructure to boost growth.
In separate data published by the ONS on Friday, UK exports to the United States increased by £0.3 billion in May. This followed a record fall in April when President Donald Trump's tariffs took effect.
"Growth is becoming incredibly difficult to achieve for the government," said Lindsay James, investment strategist at Quilter.
"The plans put in place so far are unlikely to move the needle in the absence of improving business and consumer sentiment in an environment of ongoing cost pressures," she added.
ONS director of economic statistics Liz McKeown said there were "notable falls in production and construction" which affected GDP in May.
She said the decline in production was led by "oil and gas extraction, car manufacturing and the often-erratic pharmaceutical industry."
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The bank's commitment to green lending reflects focus on sustainability (Photo: Getty Images)
BANKING major State Bank of India (UK) has cut interest rates on its buy-to-let mortgage products to help landlords reduce borrowing costs.
The bank said the rate cuts would help landlords invest in rental properties and meet growing demand for rental homes across the UK.
For the Standard Product Range, interest rates have been reduced by up to 35 basis points across all Loan-to-Value (LTV) tiers for five-year fixed-term products. In the SPV Product Range, rates have been cut by up to 40 basis points. Additionally, a flat fee has been introduced on larger loans for limited companies, aiming to simplify the lending process, a statement said.
The Houses in multiple occupation (HMO) product range has seen significant improvements. Rates have been reduced by up to 90 basis points on two-year fixed products and up to 50 basis points on five-year fixed products. Non-green properties now benefit from a flat rate of 5.15 per cent for five-year terms.
Fees for five-year products have also been lowered to 1.50 per cent for 50 per cent and 65 per cent LTV. Furthermore, green properties receive an additional discount of 10 basis points. Also, pricing for Multi-Unit Freehold Blocks (MUFB) has been brought in line with the HMO product range, offering similar rate reductions and terms.
Abhishek Sahay, chief business officer at SBI UK, said the bank wanted to support landlords with better lending deals.
"We understand the importance of service standards and have added capacity to our underwriting team to process applications in a timely manner," he said. "We recognise the crucial role landlords play in the UK housing ecosystem, and these rate reductions are designed to help them thrive in a dynamic market."
He added that the bank's ongoing commitment to green lending reflects focus on sustainability and reduction in the carbon footprint of the housing sector.
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Starlink will next need to acquire spectrum from the government, build ground infrastructure, and carry out testing and trials to meet the agreed security requirements. (Photo: Reuters)
INDIA’s space regulator on Wednesday granted Starlink a licence to begin commercial operations in the country, removing the final regulatory barrier for the satellite internet provider.
The company, led by Elon Musk, has been waiting since 2022 for licences to start operations in India. It received an initial approval last month from India’s telecom ministry and was waiting for clearance from the space regulator.
The licence, issued by the Indian National Space Promotion and Authorization Centre (IN-SPACe), is valid for five years.
Earlier on Wednesday, Reuters reported, citing sources, that Starlink had secured the licence from IN-SPACe.
Starlink is now the third company to receive approval to enter the Indian satellite communications market. India has previously cleared applications from Eutelsat’s OneWeb and Reliance Jio.
The company will next need to acquire spectrum from the government, build ground infrastructure, and carry out testing and trials to meet the agreed security requirements.
Musk and Reliance Jio’s Mukesh Ambani had disagreed for several months over how spectrum should be allocated for satellite services. The Indian government later supported Musk’s position that spectrum should be assigned, not auctioned.