In an age of razor thin attention spans and low customer loyalty, data is the new oil. Ecommerce companies are leveraging this valuable, yet largely untapped resource to deliver customized deals that grab users attention and lead to purchases.
Major players like Amazon and Alibaba are recognized for leading the way, using tools like ecommerce analytics to derive valuable customer and web insights.
E-commerce is the ultimate future of all business interactions. A major part of the traditional business domain has transformed itself to the online domain. In a traditional business area, the whole concept of logistics is all about available stocks. In other words, it concerned about stock availability and renewal time to time. E-commerce has got entirely new avenues to deal. The traditional stock concept or logistical support is out-of-date for a digitized network of an online ecosystem. No doubt, the whole idea of inventory management in e-commerce has witnessed dramatic change. The importance of detailed insights into e-commerce inventory management is predominant. ComTec Solution provides crucial insights which are indispensable in inventory management for any e-commerce segment. Those vital insights are readily available on inventory dashboard for e-commerce.
Consumer or customer is always pivotal to the growth of any business. Every popular brand takes care of its customers. There are two traditional perspectives. Firstly, it is important to increase the customer base. Secondly, it is essential to retain them. Here in lies the significance of a good brand. A good brand emphasizes on constant customer support. No doubt, this isn’t any easy task as a business organization should be aware of the changing needs of the customer base. Side by side, the customer base is diversified in nature. Every customer or consumer is unique in taste, choice and other parameters. When it’s the case of e-commerce portals, the whole idea of customer support becomes more interesting. ComTec Solution plays a vital role in providing crucial data insights in their customized eCommerce analytics dashboard which we are going to discuss below:
The whole idea of marketing synchronizes the idea of business. Theoretically, the term ‘marketing’ is very close to the word distribution. In reality, marketing calls for effective distribution bringing best benefits to the product or brand. Whether any marketing campaign or strategy is bringing benefit to a brand or not, is a tough question. For any marketing campaign, marketing dashboard is indispensable. The best answer to Marketing dashboard for e-commerce is ComTec Solutions. It gives vital insights and quantitative analytics which we are going to discuss in the following.
For any e-commerce portal, sales sector is one of the strongest factors to evaluate or decide on policies and strategies. E-commerce is different from traditional business transactions. E-Commerce parameters are segregated on the basis of digital audience based on the consumer behavior. A sales dashboard is not an eye-opener, rather a vivid approach to understanding those parameters. E-commerce Analytics helps bridge the gaps and issues and help make faster business decisions. In the following, we will discuss interesting insights available on sales dashboard for e-commerce, provided by none other than ComTec Solution.
E-commerce has brought about a fundamental shift in the way consumers shop.
According to research data from Statista.com in 2016 “An estimated 1.61 billion people worldwide purchased goods online amounting to a staggering 1.9 trillion US dollars in sales”. This trend is getting stronger with a projected sales value of 4.06 trillion US dollars by the year 2020.
In an incessant contest for people’s attention, e-commerce enterprises today are coming up with innovative marketing and sales strategies to create customer experiences like never before. The cornerstone of these strategies is customer data, demographic and behavioral which is being leveraged through the use of advanced analytical tools to gain an in-depth understanding of the customer’s shopping behavior.
Setting up an online presence and successfully selling your merchandise via an electronic medium is no longer enough. Perhaps years ago, you could sell online and hope that your customers would return again and again to your website, but in today’s cut-throat online environment you have no choice but to underpin your online presence with three pillars that will support your retail endeavors – Customer Loyalty, Personalized Marketing, and Omni-channel Marketing.
All of these have to be built brick by brick and using a tool such as an ecommerce analytics solution will make this job much easier to accomplish.
Globalisation has completely revolutionized the market economy and has changed the way companies try to gain a slice of the market share. More so, in the retail space. To succeed in this cut-throat economy, businesses have to increasingly lean on strong and efficient supply chains.
Hence the need for all online stores to have a well-oiled supply chain management system, to be successful. No wonder that these business players gear up to face the challenges of ever evolving customer needs and market volatility, by continuously reinventing themselves. Most of this reinvention is happening in the supply chain space. Some of the supply chain concerns of online stores ought to be the following.
It is impossible to drive ecommerce strategy without an objective analysis of key performance indicators (KPIs) and business metrics. If you are running an ecommerce store, chances are that you are already using some kind of basic data analysis tools to keep track of your sales and operations.
The question is – Are you using right tools and technologies? and are you leveraging them to get the maximum return on investment possible?
The good part is that ecommerce, as a business, inherently generates loads and loads of operational and customer data that can be leveraged for generating rich actionable insights. Smart e-retail enterprises are already deploying state of the art technologies to leverage this data as a sustainable competitive advantage.
hese technologies are focused on generating, aggregating, visualizing and analyzing data generated across devices, channels, and touch points. Irrespective of the scale at which your ecommerce store operates, it is worth exploring some of these technologies that have the potential to deliver stupendous ROI for your ecommerce store within a short span of time.
So you have your own online retail site. Great stuff! You have selected a killer range of merchandise to sell, spent many dollars in creating a stunning website, ensured that payments are kept safe and secure, and done your best to market your site through friends, family, and social media. Your number of customers is slowly creeping up but how do you improve the traffic to an online store?
Here are five things that you should investigate to help drive those numbers.
The cost in hard currency, time and effort to attract new customers to your online presence is extremely high. Research has shown that it can take over a year of return visits and repeat purchases for the on-line retailer to recover the cost of attracting a customer in the first place. You then have to ensure that every customer that frequents your online store is viewed as a potential return customer and building that elusive concept of trust and loyalty should be close to the top of every online retailer’s to do list.