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1). ANSWER :
GIVENTHAT :
The two major challenges for business growth in case of Online Retailers are the following:
- Choosing the right technology partner: The technology being used by the online retailer can limit the growth of business for the online retailer. Outdated technology can throw online retailers out of business in a rapid manner. Choosing the right shopping cart solution, inventory management software, customer analytics are the key areas to focus while choosing the right technology partner for the business to grow seamlessly.
- Retaining customers for long term profitable growth: Retaining customers is much easier than attracting the new ones. Proper customer relationship management must be used strategically to get the most out of the existing customer base in increasing the customer life time value.