MULTICHANNEL MERCHANT » ECOMMERCE
Traditional algorithms like “bought this, bought that” and “viewed this, bought that” are getting old. And, although Amazon has branched out from this strategy a bit with different wording, it’s the same idea.
It’s time for forward-looking companies to capitalize on social and mobile behaviors, glean customer insights and lay the groundwork for the benefits of predictive analytics. These investments may not pay dividends immediately, but over time will define truly great and personalized customer experiences.
Retailers who release new applications and updates too fast with defects and gremlins could easily lead to disgruntled customers and damage to a company’s reputation. When speed and agility are critical, a rigorous quality assurance testing process will go a long way toward keeping you in the race and ahead of the competition.
But despite the growing percentage of traffic, ecommerce conversion rates remain much lower on mobile devices and tablets, signaling a greater need to focus on an omnichannel user experience for all visitors, regardless of device.
Rue La La has hired JP Morgan Chase to seek strategic alternatives, including finding a buyer, and Gilt Groupe is seen as the leading contender.
Global ecommerce is fast becoming a mainstream objective as companies look to other shores for new opportunities as the domestic market becomes saturated.
During a keynote panel discussion at the eTail East 2014, attendees were introduced to the acronym “STS” better known as “Straight to Smartphone.” Panelists recognized that mobile is fundamentally different than ecommerce. And while so many shoppers are gravitating to their smartphones, conversions are lower than other channels.
Trust is important to any relationship and in the retail industry the trust between a consumer and the retailer is vital in order for a purchase be made on your website. You don’t need to be a big brand in order to gain the trust of a consumer.
Amazon Local Register will offer brick-and-mortar world a lower swipe fee than banks. And it will also give Amazon a glimpse at how omnichannel consumers shop.
Experts and executives talk about steps being taken to avoid the holiday shipping snafus that caused delays and angry customers in 2013.