How do Business and e-commerce connect,
An eCommerce platforms deal with Product Management, Merchandising, Pricing, Promotions, Personalization, Search
Now what is Product Management, We shop a product seeing its description , relevant contents right ?
Where do those contents come from, so for instance if we are having a website with more than 10000 products, how do you effectively manage those. ?
An eCommerce PIM manages your master catalog of products. It takes product data from every location and centralizes it into one place.
You and your team can edit and manage all your product information at once from the PIM’s interface: e.g., item numbers, references, catalogs, SKU data, images and videos, translations, localizations, documentation, etc.
Your PIM could provide product information to all sorts of stakeholders, from internal business operations through to suppliers, manufacturers, wholesalers, and customers.
Many companies consider a PIM when they have thousands of products to manage, but even stores with a limited number of products may invest in a PIM system. Despite a seemingly limited product count, they might have a high set of variables and customizations.
Some of the real Pros of PIM is,
.Time Efficiencies from Reduced Manual Data Entry
. Consistent, Precise, Information
Will take up and write more about PIM in the coming days,
Now getting into merchandising.
We hear these terms very frequently right? , How does this play a role
The most important function of e-commerce merchandising, whether you have a small or extensive product catalog, is guiding your customers through the buyer’s journey.
While nearly every visitor to your brick-and-mortar will interact with the same visuals, smells, and associates while walking into your store, there are many different paths a customer can take to end up on your e-commerce site.
Merchandising can help ensure every customer who visits your site has a similar, on-brand experience, no matter how they arrive on your site or how they navigate around once they get there.
Merchandising helps you take control of how your brand is perceived and how visitors to shop, while also driving brand engagement and awareness.
So if you are selling a product, it should come under the brand, and that brand should be taken in by the customers
Now Pricing? I am not going to go much deeper in pricing because, we all know very well, it is the only thing we are care of, I will be posting about how e-commerce company targets customers to promote pricing in my future post.
Some people ask me where do you see yourself in 5 years, This is most asked questions in interviews, Well I say, not looking at the price tag when I’m shopping. 😉
Promotions, This is a regular thins when a website does, puts its products on discounts,
Offers free shipping for purchases over a certain amount, Schedule a promotion for a period of time,
We are big fan of big billion days in Flipkart & Amazon’s Great Indian Sale.
eCommerce personalization means showing individualized offers, product recommendations, and other content to your visitors based on their previous actions, demographics, and other personal data. Personalization ensures that your offers are relevant.
This is a huge topic in the eCommerce which has been evolving since AI came into picture,personalization, the word itself says it wants to get personal with you, gather your data through cookies and search histories and display what you need.
I will cover up more on this , because of this my most favourite Subject on E-commerce.
Search
We search for something because we really need it, that’s why we enter into an e-commerce website,search improves the business, these statistics may not be new to you: while only 30% e-commerce visitors use site search, conversion rates through site search can be up to 50% higher than the average.
Everything you need is there, everything as a website manager needs to do is show them what the customers needs….
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