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Data and E-Commerce How Global Retailers Are Adapting

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Are offline and online retail channels different from each other? Both channels aim to optimize the customer experience, drive traffic & frequency, increase basket sizes and improve sales & margin. Yes, the goals of each channel are the same, but the access to data in the e-commerce world is a major difference. It ultimately improves the channel’s ability to deliver the aforementioned objectives.

As part of the Rubikloud team, I’ve had a front row seat to some jaw dropping big data and machine learning projects. (Yes, we are more than a software company!) Luckily, the fixes to retail’s big data and e-commerce challenges are not too difficult, when you have the right tools. Below are four ways we’ve helped global retailers adapt to the data-rich e-commerce world to sell more products.

Published in: Retail
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Data and E-Commerce How Global Retailers Are Adapting

  1. 1. Data and E-Commerce: By: Avi Mizrahi How Global Retailers Are Adapting.
  2. 2. Are online and offline retailers really that different?
  3. 3. Both channels share similar goals: Drive Traffic & Frequency Grow Sales, Margin & Volume Optimize Customer Expereience Increase Basket Size & Spend
  4. 4. Yet, the access to online data is a major difference. The abundance of data poses some common challenges for large multi-channel retailers. 
  5. 5. Here are four powerful ways retailers are using data to optimize e-commerce sales.
  6. 6. 33% 1. Prioritize site search. Of visitors use site search. Rubikloud's research shows: 66% Of those who used site search purchased something. Search
  7. 7. What are you looking for? PRODUCTS SERVICES GUIDES Let's Get Going! Our products are guaranteed to last and our service to you is outstanding. CONTACT It's imperative to have a prominent, well functioning, search capability.
  8. 8. 2. Optimize Customer Journey Maps. 88% of US customers research products online before buying. Make it easy for them to find and purchase products on your site.
  9. 9. Low Converting Journeys Abandoned Carts High Converting Journeys Frequent journey path analysis will ensure your site is optimized for sales conversions. Use tools to visualize and prioritize the various customer journeys.
  10. 10. 3. Know the preferences of desktop vs. mobile consumers in your retail vertical. According to recent IBM research, "smart phones browse and tablets buy." Yet, desktops are still king (77% of total) when it comes to online spending. Understand consumer preferences now and in the future before investing in technology.
  11. 11. 4. Understand your customer data. Takes Too Long, Rarely Uncovers True Insights 80% of insights 'hunting & gathering' can be automated Prone To Errors Due To Poor Data or Methodology Fails To Bring Data Together From Organizational Silos Traditional retail analysis and shopper marketing research:
  12. 12. Automate your insights discovery process to improve speed and data driven decisions. Automated insights frees up significant time (up to 50%) and improves accuracy when analyzing data from across the retail organization. It informs teams of relevant insights (NOT reports), so they can take direct action to improve sales, margin, and volume!
  13. 13. Use Data To Optimize e-Commerce Sales: 4 Ways Retailers 1 2 3 4 66% 77% 88% Prioritize e- Commerce Site Search Who Use Search, Buy Research Online Before Buying Online Sales Come From Desktops  Time Savings Optimize Customer Journey Maps Understand Digital Channel Preferences Leverage  Automated  Analytics  50%
  14. 14. This SlideShare is based on a LinkedIn post I wrote. To read it click here.   If you like the article, please give it a thumbs up and feel free to connect  with me.

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