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on 17th December 2018 / by nisha
Inventory management software is an application software for businesses to track sales, orders, product inventory levels, deliveries, etc. It is a tool used for organizing inventory data that decades back was stored as hard copies and endless spreadsheets that was time consuming to analyze. E-commerce businesses use inventory management software to avoid product outages and overstock. Components of an Inventory Management System The major components of an inventory management system are: Product Tracking This gives information on product inventory, activity graph and report. Asset tracking can be done using desktop software, mobile apps, barcodes , RFIDs etc. Restock Notification A digital inventory management software can be programmed such that when the inventory level of products reach its reorder point, the system automatically notifies the store manager. The reorder point for each product can be set taking into consideration the lead time( i.e the time taken for the product to reach the store after an order is placed) and the buffer stock ( in case of emergencies say there is a delay in stock arrival). The reorder point can be set higher for high demand seasons. Product Identification Data on products and the order level can be fed into an inventory management system using product identification methods. Any information related to the product can be got using the barcode, RFID and other wireless methods of product identification. QR codes and NFC tags using smartphones as scanners are other identification methods that are used. These above components provide efficient inventory optimization methods while opening the way to a fully automated demand forecasting system. Having explored the major components of an inventory management system let’s now see what are its benefits: Benefits of integrating Inventory Management System to your site Time saving, better decision making capabilities, reduction in unwanted inventory and spending are some of the benefits of having an inventory management system for ecommerce sites. Other benefits include Central Access Having an inventory management software help in accessing the inventory from a common dashboard that helps in management. Decisions Based on Real Time Data The Inventory Management System (IMS) gives better insights into inventory levels real time. Enhanced Operational and Supply Chain Efficiency Integrating IMS to ecommerce systems provide access to the product giving better insights for efficient supply chain management. Front and Back Office Under One Portal With online inventory management tools, audits can be performed quickly and anywhere without having to be in person at each store location. Inventory and Personalization Now with the onset of better data analysis and personalization tools, the scope and benefits of an inventory management system have gone up several notches. Visibility of Real-Time Inventory Making the stock level of products visible to the customer provides a two fold purpose. This will ensure that the products that are out of stock are not recommended for purchase. Low stock inventory will encourage the customer to buy the product. To truly optimize your inventory, you have to fully understand your product sales pattern and customers. You have to know the demographics of your customers, their buying habits or budgets. We at Zyxware Technologies have been building robust web applications for our clients in the ecommerce sector for more than a decade. We work with Magento and Drupal platforms to make the best possible package that suits your business. We ask questions. We observe. We analyse. Then we propose an inventory management system that befits your business process and help integrate it to your ecommerce site or even help build the ecommerce site. To get in touch with us click here! Ecommerce Inventory Management Software Personalization Leave a reply Your email address will not be published. Required fields are marker *
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on 17th December 2018 / by jake.rheude
Next time you’re in a crowded location, count out ten people. Eight of them will have used a mobile device for online shopping, and at least three will do all their online shopping solely on that mobile device1. If you’re an e-commerce store owner, the eight are great news. However, those three might be giving you some anxiety because you’re not sure the best way to reach them. You’ve heard about the promise of mobile apps and the benefits of a responsive website but aren’t sure where to put your development dollars. Not to worry, we’ll look at the core features of each and give you some suggestions that’ll make the choice a bit easier based on your brand and target markets. What’s Up with Native Apps? You’re probably familiar with apps on your phone, whether they’re called mobile or native apps. A native app is one that was built specifically for an operating system and sometimes is adjusted for an individual device. Such development enables the app to use the specific hardware and features of the mobile device, like its accelerometer, GPS, email, social apps, camera, and more. For an e-commerce brand, an app can be both an online store and a way to view a customer account. Your user will fire up the app and have access to their order history, current order status, and be able to shop your store, among other things. It can be anything from Amazon’s app to your local veterinarian’s app that allows you to refill your pooch’s flea prevention with just a click. The wonderful thing about an app is that you can completely control it. You get to set up the entire user interface, options, notifications it delivers, and so much more. Because an app is downloaded and tied to a specific account, it means you can collect a lot of customer data and show that individual user the offers and coupons most relevant to them. Personalization is at the heart of this interaction, which could increase your chance of sales. The other major benefit is that apps can automatically deliver information to your users, such as deals. Notifications are easy to view, and a single click gets them right to your content. Plus, if you combine this with email marketing, you get multiple chances to reach someone with a personalized offer. The big downside with an app is that you must create multiple versions for different operating systems, and sometimes different phones. There’s a whole lot of testing, and it is continuous. You must ensure the app works on all platforms whenever you make an update and review it across impacted devices whenever there is an update to a major operating system. Two requirements for an app to be successful are: It has to work whenever the user clicks, andYou have to make a compelling enough offer that they open your app consistently.Does a Responsive Website Make Sense? Responsive design is among the most favored design styles right now because it allows you to create once for any screen size. In this architecture, your website automatically arranges itself based on the width of the browser. It prioritizes content and moves things around when you’re working on a mobile device and makes the layout appear as clean and useful as possible. The great news here is that this is automatic once your site is live. You use rules to define how this all reacts, and the site takes care of the rest. It allows you to build once for use on any browser of any size. It’ll even respond when someone on a PC has their browser window maximized or smaller. Dynamic movements can be difficult to plan out, so there’s plenty of testing before your site goes live. The good news is that you don’t have to do much testing and reconfiguring once you’re happy with it. The main testing elements are when you decide to incorporate additional content, plugins, or pages with your website — you want to make sure that new chatbot doesn’t block photos on the mobile version while also isn’t too small to be seen on a desktop browser. For today’s apps, there are a variety of plugins that you can use for things like shopping carts. However, in general terms, it will usually be easier for you to add new features and support for third-party tools on a website because there’s less custom code. Shoppers will appreciate the fact that they don’t have to download a specific app to see your content and that they can buy however they want. If they see something on their phone but aren’t comfortable using a credit card on it, they can simply navigate to your site on their laptop and make a purchase. If you’ve got customer accounts where they can sign in and save a shopping cart or items to a wish list, you’ve just made it that much easier to make a purchase on a preferred platform. The major downside for a website is that it isn’t as interactive as an app and you can’t always support things like gestures or advancement movements through the accelerometer. You’ll also have to get people to sign up for emails to broadcast to reach them; there’s no inherent messaging like you get on an app. How Do You Pick What’s Best? Two factors guide the decision for a responsive website or an app: money and audience. If you can afford the development of a custom app, and you have an audience that has demonstrated a desire to shop on an app, then that’s definitely a good reason to go for it. The cost for developing your own app will depend on your requirements. Beyond that initial cost, there’s another thing to consider about your app: not everyone is going to download it. If one of your brand’s core cultural aspects is exclusivity, then that’s great. If not, you’ll have to get a website anyway, and it’ll most likely be responsive. Responsive websites are relatively inexpensive and, today, there are plenty of tools and services you can use from third parties to do things like improve your shopping cart, add lookbooks, link to CRM and order management tools, and much more. For your app, some partners have APIs that you can use, but you’ve got more custom development here too. A responsive website is always a must-have in today’s environment. A great app is a perfect way to maximize sales through direct personalization if you can afford that development pricing and have a hungry audience. Reference 1. https://www.statista.com/topics/1185/mobile-commerce/ App Development Ecommerce Responsive Design Leave a reply Your email address will not be published. Required fields are marker *
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on 17th December 2018 / by ijas.ansari
Efficient Inventory management is critical for any ecommerce store. Inventory management system tracks inventory levels, orders, sales, and deliveries. The system makes sure that you have the necessary resources available for the seamless functioning of your ecommerce store. A lag in the operations of the store can cost money, customers and even create a not so good impression. A robust inventory management system will help to deliver orders to customers on time, receive necessary resource on time and ultimately improve efficiency of the ecommerce store. Common Inventory Management Systems Manual Management using Spreadsheets This system can be very difficult to keep track of and requires a lot of time to keep everything updated. Imagine updating a spreadsheet every time you made a sale or ordered more inventory. Automated Management using a Hosting Platform (Shopify) This system is highly useful if you sell your products through only one channel (amazon, ebay, etc..) or if you sell only through your own online store. Read a detailed comparison series we did on SaaS based Ecommerce systems, Shopify and BigCommerce. Automated Management using Ecommerce Software Solutions Automated system created specifically for ecommerce stores will automatically upload your product details onto your website, and other channels with the push of a button. They also provide features like automate order fulfillment and inventory quantity updating. Features of Automated Ecommerce Inventory Management System Product Management Inventory management system lets you group products by sale, category, type, season. It can sort products according to price, vendor and inventory level automatically. It can also set up and sell unlimited number or types of product through online store. Product Variant Management An inventory management system assists in managing several variants of a single product. You can simply offer any number of variants for a single product to reflect different sizes, materials, colors and more. And every variation can have its own price, weight, and ID. Tracking Inventory Inventory management system can seamlessly track inventory, set up automated reminders to place orders or to manufacture more product when necessary, and update inventory numbers when you receive a new inventory. This will help to avoid having too little or too much stock on hand at a time. Inventory Management Insights Get insights on how your inventory is moving. Analysis of the incoming data can help pinpoint your flaws in the operation and where the opportunities are. It can help you to plan future orders, forecast sales, design special promotions, campaigns and create successful marketing strategies. The main purposes of using an inventory management system is: To maintain a balance between inventory Tracking inventory as it is transported Keeping track of product sales and inventory levels Reduce product wastage Avoiding reduction in sales due to out-of-stock situations A robust shipping and handling system can boost the efficiency of your inventory management system. Therefore it is essential to consider how you effectively manage your e-commerce shipping and handling including your inventory, storage, packing and shipping. We, at Zyxware Technologies can help integrate an inventory management system that is right for your retail site and bring to the fore all the advantages that go with it. To get in touch with us, click here! Reference Jillian Knox, “eCommerce Inventory Management Best Practices”, Blog, Published Feb 2016, Nchannel.com , Accessed 13/07/2017 Moosa Hemani, “How to Do Inventory Management for Ecommerce Stores”, Blog, Published Oct 2016, Awesomecommerce.com, Accessed 13/07/2017 Bill Widmer, “Inventory Management 101: The Short Guide for Ecommerce Entrepreneurs”, Blog, Published Aug 2016, Abetterlemonadestand.com, Accessed 14/07/2017 Ecommerce Leave a reply Your email address will not be published. Required fields are marker *
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on 22nd February 2018 / by chithra.k
Remember a very popular game which came out some years back and caused ripples of excitement for at least some months - yes, you guessed it right, it was Pokemon Go. With the user’s smartphone and camera, the game turned the real world into an augmented reality world which included Pokemon. Augmented Reality (AR) is an interesting field, just like Artificial Intelligence and if you think it is only meant for games, then think again! What is Augmented Reality? Augmented Reality is a technology that superimposes a digital image on a user’s view of the real world. With the help of advanced AR technologies, the information about the surrounding environment of a user becomes interactive. As interesting as it sounds, the applications of AR are equally exciting. Augmented Reality and E-commerce When it comes to purchasing a particular product, the touchpoint a shopper should travel beyond is the question, “Is this product the right choice for me?’. Of course, chatbots, personalization etc added to your site can help your customers to a certain level, but AR can be used to provide a ‘better’ user experience to your customers. AR into Reality Various brands have already adopted Augmented Reality. IKEA, a Swedish home furnishing brand is allowing their users to envision how their furniture would fit into the shoppers living or bedroom. Similarly, if you would like to purchase a watch from Jurawatches or shoes from Converse using their Converse Sample app, they would definitely help you decide which watch or shoes will best suit you. AR Helps to Narrow the Gap Between Digital and In-store Experiences Augmented reality can be used to bring a seamless experience for shoppers. As an example, let us look into a demo of a product built by Acquia Labs, which shows how AR can be implemented for the same. The video above shows how Alex, a shopper communicates with the AR application to purchase items from a fictional store. Using the augmented reality overlays, the mobile application helps Alex to find where the item in her list is located at and which brand should she buy. The app provides information about the price, the ingredients and also reviews of all the products in the store detected by camera. The application is built using ‘Drupal 8’ and augmented reality library, ‘Vuforia’. AR and Search The current state of AR can be used to decide how the future of search is going to be. As people use mobile phones more often for their each and every need, we need to broaden how search will work on mobile devices. A situation where people may move beyond a site’s search box is not very far. Also situation is not far when a user directs camera to find reviews about a shop or information about a building. As more and more brands are opting to provide a fine digital experience to shoppers, all retailers must rethink their online selling strategy and adapt things like AI and AR whenever possible. Get in touch with us to know more. Augmented Reality Ecommerce Leave a reply Your email address will not be published. Required fields are marker *
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on 14th February 2018 / by victoria.greene
It is no secret that e-commerce is big business that’s getting bigger. Conservative opinions predict online retail sales are expected to reach $4.5 trillion1 by 2021. What’s also true is that it’s an industry evolving at an exponential rate. As rapid technological advances combine with the requirements of consumers for an increasingly personalised and efficient user experience (UX), it’s crucial that you pay attention to the latest developments. By staying on top of these changes, your business will arm itself with the tools needed to gain new customers and increase brand loyalty. This post looks at six trends which will shape the e-commerce industry in 2018 and what they mean for your own business. Recommended reading: Step Up Your Customer Service Using Chatbots 1. Augmented Reality to get real When all reality becomes augmented will it mean that reality itself ceases to exist? Such questions are best left for the philosophers, but what’s certain is that augmented reality (AR) is here to stay and will play a huge part in the future of e-commerce. TechCrunch have predicted the AR market will reach $83 billion by 2021. That’s fantastic news for consumers. A tool like ARKit, for iOS 11, has made it much easier for developers to implement AR strategies. A great example is IKEA Place. Using their phones, customers can see what IKEA’s furniture will look like in their actual home. They no longer have to rely on a tape measure and their imagination. Expect many more online retailers to follow suit. Credit: ARKitTry not to think of your online shop window in the traditional way. Imagine what it could look like in an augmented universe - picture how you can present your offerings in order to best showcase them to your customers. 2. Stand and deliver – quickly In the crowded online world, delivery times and the availability of flexible shipping can make or break a business. Finding ways to increase efficiency is now an essential part of your ecommerce strategy. It’s here that Amazon’s dominance is most obvious. In a recent press release, the retail giants announced that they shipped more than 5 billion items via their Prime one-or-two-day shipping service in 2017, with their fastest delivery time being an almost unfathomable 8 minutes. Amazon are now offering a one-hour delivery service in some areas. Competitors will have to up their own logistics game in order to have any hope of keeping up. How efficient is your own delivery system? You could partner with a logistics company to provide your customers a more convenient service? 3. User Generated Content, easy as 1 2 3 User-Generated Content (UGC) is going to be more influential than ever this year and it’s no surprise; social shares, reviews and scrolling carousels of customer photos are ideal ways to boost SEO while providing an invaluable service to consumers. What’s great about UGC is that it is real content which you don’t have to create yourself. It has been said that a customer is 97% 3 more likely to purchase after having interacted with UGC and there’s no doubting that this type of content is incredibly effective. What’s more, it’s a way of obtaining genuine feedback on product/ services and solidifying relationships with the customer. Credit: PexelsWork out what your customers can do for you and what you can give them in return. Perhaps offer entrance into a monthly raffle for those who share relevant UGC images. It’s a win-win. 4. Checkout before they get out The evolution of online checkouts looks set to reach a vital stage in 2018 - with the demise of the traditional payment form. The expiration of Amazon’s one-click patent means that even more mobile shoppers can experience a streamlined checkout process. Options such as Apple Pay, Paypal, Android Pay and Amazon Pay are here to stay. A clunky transaction is one way of putting off potential customers. It’s therefore no wonder that businesses want to upgrade their checkout mechanisms and, in doing so, increase impulse buys. Credit: FlickrConsider streamlining your checkout system, removing those outdated payment forms and adopting a one-click mechanism. 5. Boom of the subscription box The popularity of subscription services looks set to accelerate this year. With an increase of 800%4 between 2014 and April 2017, it’s a market that will continue to grow. The success of companies like Stitch Fix and Ipsy, who send out personalised clothing and make-up items each month, has led to the likes of Under Armour and Gap offering their own subscription service. It’s not just fashion. Subscriptions services are available for curated record collections, razor blades and recipe ingredients! These monthly packages offer value for money (the content is often discounted), personalisation and efficiency to the consumer and guarantee recurring customers for the retailer. By providing a service that is personalised and ensures value for money, you’ll be able to turn those occasional browsers into lifetime customers. 6. It’s good to chatbot While the machines haven’t taken over the world just yet, chatbots have changed the sales potential of the ecommerce and retail world5. There’s even potential for these little helpers to address the ROBO (Research Online, Buy Offline) balance, a particular concern to businesses with no offline presence. The beauty industry has pioneered this technology, such as Foundation Finder, and shown that chatbots are no longer just a way to help with FAQs. Powered by algorithms, they are able to improve UX by acting as a virtual personal shopping assistant who can give customers the individual advice often missing in the ecommerce world. With that in mind, it’s no wonder that 48%6 of consumers prefer to connect via live chat over other means of communication. We predict that these bots are here to stay, and we’re welcoming them with open arms. Credit: FlickrEven if you’re not in a position to incorporate chatbots into your ecommerce infrastructure, now is the time to familiarise yourself with the technology. Start with the brands that you admire, how do they use these virtual assistants? So there you have it - Six ecommerce trends that also offer opportunities for all online businesses. By embracing technology, streamlining and improving the consumers UX, it’s possible to create an ecommerce platform that will be the envy of your competitors. If there’s an overarching theme it’s that these trends will make the online customer in 2018 more fulfilled than ever before. That can only be a good thing for all concerned. References: 1.  Statista.com 2.Tim Merel,’The reality of VR/AR growth’, blog, published January 2017, Techcrunch.com, accessed January 2018 3.  Business Insider 4. Richard Kestenbaum, ‘Subscription Businesses Are Exploding With Growth’, article, published Aug 2017,  Forbes.com, accessed January 2018 5. Lauren Ufford, ‘Chatbots for Retail:What Are They and How Retailers Can Use Them to Spark Sales’, blog, published June 2017, Shopify.com, accessed January 2018 6. Whitney Blankenship, ‘ 6 Ecommerce Trends to Jump on for 2018’,blog, published October 2017,  Divvit.com, accesssed January 2018 Ecommerce Leave a reply Your email address will not be published. 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on 24th January 2018 / by chithra.k
The importance of synonyms, search suggestions and semantic search were discussed in the article "Search in Ecommerce: The Vital Little Details". These now are already quite commonplace and can be considered as standard features available in search. The next leap towards making search a smooth experience came with the evolution of Artificial Intelligence (AI). Intelligent Search - Current trends Thanks to Artificial Intelligence, the systems in place today are well aware of the context in which a user is accessing a page and are able to recommend or show contents based on the user context. AI is revolutionizing the experience of the online shoppers and retailers. While shoppers benefit from seamless experience, personalized recommendations and efficient support, retailers are able to capture volumes of data which can be used to drive more sales. In this article we focus on the recent AI trends that are being used by big retailers. Context-Based Personalization Using Natural Language Processing (NLP), which is one of the main fields in AI, it is now possible to bring about an interaction between a user and the website. Previously, all of the commands were run separately, but now a context-based conversion or conversational AI is getting popular. With the user’s page visit history and his interactions on various occasions, a context is created exclusively for him and is used for further communication with him. The result in improvement of this field is that now a user can place an order even via a chatbot or using voice commands. The improvement in the field of NLP has led to the emergence of chatbots, voice search, and visual search. Chatbots Bot guided commerce is the latest trend in the online retail sector. Today, with the backing of Natural Language Processing and Machine Learning, Chatbots are being used by different brands to provide customer support, recommend products and increase sales. Gartner predicts that by 2020, a person will have more conversation with bots than with their spouse. The business advantages of including chatbots in your retail site include Better customer service Create brand loyalty by providing personalized experiences to shoppers Reduced human resources and cut down customer service cost When it comes to managing thousands of one-to-one communication with consumers, retailers can use chatbots to decrease the gap between consumers and businesses. Chatbots with the ability to recommend products and learn from the interactions can help shoppers to find a product in less time. When you try to include a chatbot into your store, make sure you add a context aware chatbot. For instance, say you have an online flower delivery shop. When a customer provides you their email id/phone number and says that they would like to place an order for a bouquet of flowers, the chatbot can look up the previous orders of the shopper and can help ease the checkout process by asking questions that include" Would you like to order a hand tied bouquet of 12 yellow roses ? (Context: You had previously ordered a hand-tied bouquet of 12 yellow roses)", “Do you want this to be delivered to xxx? (Context: From your previous delivery address)”, “ Would you like to use COD? (Context: Your last payment method was COD)” etc. The chatbot can definitely reduce the time the shopper requires to purchase a bouquet rather than a non-contextual chatbot that may have more questions like, which bouquet he wants, how many roses he would like to have and what should be the delivery service, payment method etc. As per the ubisend 2017 survey conducted in UK, 1 in 5 consumers would consider purchasing goods and services from a chatbot. Checkout some e-commerce brands who have already included chatbots in their service. eBay Kip Voice Controlled E-commerce With the introduction of digital voice assistants like Alexa, Google Now, Siri and of course chatbots, the wind is blowing towards the conversational ecommerce. Once the convenience of these technologies are identified by shoppers, there is going to be a boom in conversational ecommerce. According to ‘Walker Sands 2017 Future of Retail Study’ that surveyed more than 1600 US consumers, one in 5 customers (19%) have made a voice purchase through Amazon Echo or another digital home assistant, and another third (33%) plan to do so in the next year. The best example of voice controlled e commerce today, is Amazon Alexa. Amazon claims that with its ‘2017 Holiday Season Sale’, millions of Prime members voice shopped with Alexa for gifts, Amazon devices and everyday household essentials. Echo Dot, Fire TV Stick with Alexa Voice Remote were among the most purchased items. Once the accuracy of the voice search is more precise, it is sure that the voice commerce is going to be more popular. Visual Search 2017 witnessed the emergence of VisualDiscovery tools in Pinterest. Pinterest introduced these tools claiming that it can see the world like you do. When you are out and when you see something that catches your eyes and if you don’t know how to convert this to search keywords, you can click the image using the Pinterest camera and see the item or related items as pins. You can try the lens on a dress and see the related items and you may get ideas on what other items goes along with it. You can point this to any food items and you may get interesting recipes. Source Not much later, Bing also announced their project Bing Visual Search with the tagline connect your camera to a deep search experience. Using the Bing Visual Search it is possible to get information about an item inside a picture. Say you see a home decor image and if you are interested in a particular chandelier, you can use the magnifying glass symbol and select the chandelier. Bing runs the visual search instantly and will provide you with the related items. Visual search reduces the number of steps the customer must take to purchase a product. Users don’t have to query and wait for the product they require. It also helps users who are “spearfishing” ie, who search for one specific product. More targeted results can be obtained using visual search. Slyce and Cortexica are two examples of tools that make it easier for retailers to integrate visual search into their sites. As the technology behind the visual search is being improved, let's look forward to more exciting developments from it. Using Drupal 8 and Drupal commerce 2.x, it is possible to bring fully integrated experience with the above technologies to the user. To know more about integrating the chatbot that best suits your business, get in touch with us! Ecommerce Customer Service Chatbots Personalization customer experience Leave a reply Your email address will not be published. Required fields are marker *
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on 11th January 2018 / by webmaster
Disclaimer: Image is for representational purpose only One of Global retail industry’s big events “NRF Retail’s Big Show 2018” is set to start on January 14th, 2018. It will be an important three-day conference that is also one of the largest gathering of retail leaders promising discussions and revelation of the latest industry trends. Industry leaders who have proved themselves in their business from all walks of life talk about the challenges faced and how it was overcome. When: January 14- 16, 2018 Where: Jacob K Javits Convention Center, New York City URL: https://nrfbigshow.nrf.com The Event features 18,000 retailers representing 3500 companies with over 300 exhibitors and over 35000 attendees registered to participate from 95 different countries around the world. To say it will be huge is an understatement. Some of the well-known figures in the industry like Tommy Hilfiger Martin Barthel Head of Global Retail & Ecommerce Strategy Facebook Arianna Huffington Founder of Huffington Post Doug McMillon President and CEO Walmart will be speaking along with almost 300 other prominent leaders in the industry. One interesting section will be the Innovation Lab. Innovation Lab at NRF 2018 The Innovation Lab at NRF 2018 will bring into sharp focus the technologies that are transforming retail through exhibits, demos and presentations. Listed in it are Retail 2020 Retail 2020 is to highlight the transformation that advancement in technologies promise. Transformation in a shopper’s journey (consisting of Awareness, Shopper Consideration, Engagement, Service and Post Purchase Experience) using the most recent advances in augmented reality, artificial intelligence, machine learning, facial recognition, big data, robotics and more. Emerging Technology Showcase Hands-on demo of products including devices using AR/VR, CGI, Robotics and wearables that should make everyday life and business more productive. Other topics listed that will be interesting in the Innovation Lab stage are Robotics and AI: Trailblazing technology for future retail Digital transformation and consumer expectations Emerging technologies to transform marketing and engagement Disruptive Technologies Fortitude of the Brick and Mortar Stores Logistical and post-sale transformative technology Retailing ethics in the age of artificial intelligence This will be an event worth following!! Reference: https://nrfbigshow.nrf.com Ecommerce News Leave a reply Your email address will not be published. Required fields are marker *
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on 05th January 2018 / by chithra.k
Having taken care of the nitty-gritty details related to search in the previous article Search in E Commerce: The Vital Little Details, it is time to concentrate on some of the other important aspects - ‘faceted search’ being one of them. In this article, we will be explaining how facets can be used to provide relevant search results and thereby increase the conversion rate. Displaying thousands of search results is not the only way you should be attracting your potential customer, it can also be by helping them to figure out the exact product they require. The right method to achieve this is by introducing ‘Facets’ to your search page. Categories Defining categories can be considered as one of the basic foundation of an e-commerce website as these are used to create facets and is presented to the shoppers to filter their search. While determining categories it should be done such that the categories are simple enough for the user to easily navigate through the products. It doesn’t mean that you should add maximum categories. But whatever you add should be simple enough and should easily convey its meaning to the shopper, so that they can use it to filter out the search results. Deciding categories is usually done during the information architecture building phase. One tip while deciding categories is that, you should not only rely on the generic product filters like price and availability. There should be more product specific filters like style, usage, brand, occasion etc depending up on the products in your site. Faceted Search Faceted search is the technique which allows a user to access information organized according to a faceted classification system by applying various filters. The properties of a product can be used as a facet which help the shoppers to get to the exact product they require. Why faceted search? Faceted search can be used to control the presentation of search results. It gives shopper the power to drill down using a navigation path and reach the product he or she requires. Faceted search has already become a prominent feature of commerce sites. When compared to the hierarchy style navigation system, faceted navigation can yield 20% 1increase in conversion rates. Most of the giant e-commerce sites are using this technique to help the shoppers to achieve the same. The three different facet types are Standard facets Hierarchical facets Range facets Standard facets as checkboxes Standard facets as links Hierarchical facets Taxonomy values can be displayed retaining hierarchy using hierarchical facets. Range facets Price, range, dates etc can be displayed using range facets. Optimizing faceted search You should not just blindly add as many facets as you like to your search page. This can cause an adverse effect. While adding faceted navigation to your search, You should not over crowd the page with too many facet groups. You should limit this to 5 or 6. You should not add too many facet options under a single group, this should be treated using 'Show more links'. Putting the most used facets on top rather than displaying facets in alphabetical order will be more effective. You might have experienced the power of faceted filters first hand. To summarize, here are the benefits of faceted search in writing, Faceted search helps shoppers to filter, sort and buy Faceted search provides improved user experience Faceted search is easy to use and implement Faceted search increases the chance of conversion rate of an ecommerce site by 20% Facets and Drupal Using Drupal and Apache Solr, it is possible to implement a facet based search system within a short span of time which will be scalable and most adaptable. In Drupal 8, Search API module along with Facets module can be used to setup faceted search with Apache Solr. If you’d like to find out how more about how we can integrate your Drupal website with Apache Solr and faceted search to enhance the user experience , get in touch with us! 1. https://searchspring.com/blog/faceted-navigation-converts.html Ecommerce Search Conversion Rate Leave a reply Your email address will not be published. Required fields are marker *
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on 28th November 2017 / by harikrishnan.v
Online merchandising has experienced a rapid growth over the past several years. This has lead to the emergence of a number of e-commerce systems that helps merchants to sell their products and services. Both proprietary and open source e-commerce systems come with a handful of features. There are times when we feel confused about choosing an e-commerce system that best matches our unique requirements. This article will help you to sort out your dilemmas. It was back in 2011, that the first version of Drupal Commerce platform was released. Since then it has been evolving according to the changing market structure and consumer requirements. Drupal Commerce is the only e-commerce system that is built on top of an enterprise content management system. Recently, Drupal commerce released its latest version Commerce 2.x, which helped it to enter into the new league of enterprise commerce that offers more customization, scalability, and robustness. Drupal Commerce 2.x is built for Drupal 8. Marrying Drupal Commerce with Drupal is an ideal solution for organizations that wish to build a merchandiser platform that needs customizations at various levels. When using Drupal commerce module with Drupal, we get a tightly integrated solution that elevates e-commerce and content marketing up a notch. As the data flow seamlessly between the two systems, it can be harnessed to deliver great customer experiences. Also, new feature additions will not affect the communication between Drupal and Drupal Commerce. Given below are some of the use cases where Drupal Commerce can be used. Product Customization Gayle is a company that sells Gypsum boards to contractors and installers. Gayle delivers marketplace features like quote generation and mass order placements on their platform. This helps users to generate a quote for products and make online payments for the same. It is the flexibility of Drupal commerce that allows Gayle to deliver custom features in the portal and customize the order management process. Yell Fish is a company that sells frozen fish. It delivers fish in various forms and quantities. For increasing the community engagement, they have created a community portal that showcases editor picked recipes. Along with recipes, Yell Fish also lists the ingredients that are needed for preparing that dish. This provides the customers the ease of ordering all ingredients as a bundle. Product bundling feature in Drupal Commerce has been utilized to make this happen. Feature Customization Klaro is a garments dealer. They do have both wholesale dealers(B2B) and consumers(B2C) in their customer base. To deliver an optimum digital experience to both of these customers, they decided to build a merchandiser platform that addresses the needs of both dealers(B2B) and consumers(B2C). Dealers usually search for products based on their specifications and model numbers. Also, they purchase in large numbers. So it’s essential to have an order list feature that help dealers to organize their order. Dealers usually purchase using their credit. On the other hand, consumers purchase directly from Klaro using online payments. Consumers also have options to try products virtually and confirm the order. Both dealers and consumers share a common inventory, but with a different pricing model and purchase mechanism. Drupal Commerce works well for all the use cases mentioned above. Let’s check the general implementation approach that can be taken to build a merchandiser platform using Drupal and Drupal Commerce. Implementation Model As Drupal offers a great deal of digital marketing support, the product catalog can be displayed using Drupal. For the e-commerce system, Drupal Commerce can be used. Advantages of using Drupal Commerce Safe and secure e-commerce system Drupal and Drupal Commerce delivers updates at a regular basis. This will help the system to be updated and secure against threats. Customizable Both Drupal and Drupal Commerce can be customized according to business needs. This is not possible in SaaS systems. Digital marketing enabled system Using Drupal for product catalog display will help to bring out the digital marketing capabilities of Drupal. Scalability Being built on Drupal and Drupal Commerce, the system facilitates scalability to next level. This includes feature additions and allows for integration with multiple systems. License free Unlike SaaS or proprietary e-commerce systems, Drupal Commerce is open source and there is no licensing cost or usage limits. You can customize it as you wish. Zyxware has helped several organizations in building merchandiser platforms to serve their customers in a better way. Our e-commerce experts work with the client to understand their business problems and implement a solution that best addresses it. Read a case study on how we helped a ticket-selling business set up a merchandiser platform that suits their custom requirements. To know more about how we can help you, get in touch with us! Ecommerce Drupal Commerce Leave a reply Your email address will not be published. Required fields are marker *
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on 21st November 2017 / by Nisha.Oommen
Developments in machine learning has a great influence on the e-commerce sector. Online purchase is steadily on the rise, allowing companies to capture all kinds of data on the customer experience, including what are customers interested in geographical location of visitors what time it the sales most or least when does traffic peak on the site for how long they are on any given product page what is the preference of the items what are the items sold most on any particular given day of the week what other products are they looking at what do they buy what are the triggers of the decision from the last window browsed before the purchase how are they affected by rates, reviews and coupon what is the optimal discount rate that triggers the purchase Data received thus helps to make informed decisions based on the knowledge acquired through analysis. It makes it easier to collect and process the data, helps to see factors that went previously unforeseen. What is machine learning? Machine learning is defined as the science of getting computers to act without being explicitly programmed1. Based on pattern recognition and computational learning theories in artificial intelligence, machine learning uses the study and construction of algorithms to learn from and make predictions on data2. Data driven predictions or decisions can be made using algorithms and building the right model for data inputs. Machine learning is used for computing from a variety of data sets where designing and programming with least error and highest accuracy is not possible. Applications of machine learning in the e-commerce industry Cross selling/ Recommender Systems 'You may also like ' Section: Using a customer's past browsing and purchase history, what will they likely want to purchase in the future? This refers to making predictions based on the previously available data i.e what kind of product can I recommend for you? Query expansion While the customer types in on search, this feature allows autocompletion suggestions using the most likely search terms. The algorithms takes into account frequencies of specific search terms as well as the particular customer profile (e.g. previous product views, age range, previous search terms). Personalized discount Using prediction, you can try and figure out the optimal discount at which will a customer succumb. Minimize the number and rate of discount you give while maximizing the number of conversions you can get. Sentiment and trend analysis Evaluate the public perception of a product based on sources like social media. Churn Prediction Prediction can be made on when customers’ interest for a particular product or feature will cease to be profitable allowing for countermeasures like cross selling. Deciphering the characteristics of churners allows a company to reach out to churners, update the product or even discontinue a particular product line. Inbound and outbound logistics optimization How many of what thing do you need and where will we need them? Fraud detection Match the data received against different data points and extract fraud scenarios. One instance can be matching the shipping address against the address on the credit card: it can raise a red flag if it does not match. Product classification Products can be sorted automatically to speed up inventory management and improve customer navigation. Wallet share estimation Information emerging from the data analysis can give the proportion of a customer's usual spending in a category allowing the business to identify upsell and cross-sell opportunities. Dynamic pricing Automatically adapt price as a function of supply and demand. Uber is a classic example of usage of dynamic pricing. The surcharge applies when demand surpasses supply like during rush hour. It is a major way to optimize revenue. Supply and demand analysis and forecast/ Inventory Forecast Make production and distribution more efficient by predicting market demands. Demand forecasting is all about understanding consumer demand for goods or services. Knowing how much stock to keep means avoiding unnecessary spending on overstocking or surplus on the one hand and avoiding the other extreme i.e sales lost due to lack of inventory or supply of goods. This enables lean inventory and prevents out of stock situations. Chatbots and automatic answering of phone calls This feature in e-commerce has been developed through speech recognition/synthesis and natural language processing via deep learning. Target market Understanding the target helps you determine exactly what your products or services will be, and what kind of customer service tactics work best. Merchandizing and Inventory Management When to start stocking and how many. This is particularly applicable in the case of perishable goods. Product launch From the data, prediction of customers most likely to buy can be targeted for product launches. Channel optimization Optimal channels can be targeted based on behavioral characteristics. Discount targeting What is the probability of inducing the desired behavior with a discount? Market Basket Analysis Market basket analysis helps in determining what products customers purchase together. For instance, market basket analysis might tell a retailer that customers often purchase bacon and egg together or shampoo and conditioner together, or beachwear and suntan lotion so putting both items on promotion at the same time would not create a significant increase in revenue, while a promotion involving just one of the items would likely drive sales of the other. The right algorithms in machine learning help in the above processes. Major Challenges of Machine Learning are Acquisition of relevant data Interpretation of data analysis results Building the most accurate Machine Learning model without too much bias With the advances in machine learning, more and more applications are emerging in the fields of e-commerce and healthcare. References: 1. Machine Learning: Stanford 2. Machine Learning: Wikipedia 3. Influencing Customer Through Infinite Personalization 4. Top 5 Machine Learning Applications for E-commerce 5. Data Science Use Cases in Kaggle.com 6. What are the applications of machine learning in the e-commerce industry? Ecommerce Machine Learning Leave a reply Your email address will not be published. Required fields are marker *