Ecommerce Merchandising
Article | March 18, 2024
No physical Clover POS device? No problem! Never miss a sale again with the Clover Virtual Terminal.
The Clover Virtual terminal allows you to process payments at your convenience from wherever you are, no terminal necessary. All you need is a phone, tablet, or computer and you will have access to your business anytime, anywhere.
Through the Clover Virtual Terminal you can accept both credit and debit card payments safely and securely with Clover’s PCI compliant environment and end-to-end encryption. Unlike other virtual payment platforms, there are no additional monthly fees or crazy high processing rates with the Clover Virtual Terminal, transactions are charged at the keyed-in rate.
Some of the other useful features and benefits of using the Clover Virtual Terminal are:
Request customer payments by email and allow customers to pay you by credit or debit card online.
Take care of all incoming payments: in-store orders, mail or telephone orders, or invoices.
Send digital receipts via email.
Store your regular customers’ card information securely for faster transactions.
Protect against fraud with address verification service (AVS) and card verification value (CVV).
Another way to streamline your payments and get help you get your money faster using your Clover Virtual Terminal is the easy and convenient Clover Invoicing.
As a business owner, you already have a lot on your plate. Chasing customers for payment shouldn’t be one of them. Using Clover Invoicing makes the payment process smooth and painless! Your customers will receive their invoice by email, which provides them with a link to a hosted checkout page for a convenient way to pay by card – from the comfort of home.
In addition, Clover invoicing will enhance your record keeping by allowing you to keep track of all of your sent invoices and payments received in the Clover Dashboard and eliminating unnecessary paper clutter.
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POS Solutions, POS Retail
Article | January 12, 2024
Thank you to all of our sponsors and partners!
Our MPC20 conference is going virtual to keep you safe, but the content is more valuable than ever. As the world battles COVID-19, we turn our eyes toward mobility, risk mitigation, and virtual workplaces. Digital commerce is literally keeping most businesses in business.
By registering now, you are guaranteeing your opportunity to hear from experts from many of the world’s largest brands including U.S. Bank, Zelle, Aliaswire, Pinterest, PAID, Heartland, Intel and IBM.
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POS Solutions
Article | February 14, 2024
Optimize your ecommerce merchandising strategy with ecommerce top-tier tools and solutions. Perfectly manage and present your product data to enhance customer interaction and achieve ecommerce success.
Contents
1. Merchandising in the Age of Ecommerce
2. Strategic Product Placement: The Heart of Online Merchandising
3. Visual Merchandising: Crafting Compelling Digital Narratives
4. Leveraging Data for Dynamic Merchandising
5. Featured Ecommerce Companies and Tools
5.1. Bloomreach
5.2. 1WorldSync
5.3. Algolia
5.4. Bluecore
5.5. Bridgeline
5.6. RichRelevance
5.7. Shopware
5.8. Coveo
5.9. EDITED
5.10. Akeneo
6. Summation: A Nod to Ecommerce Merchandising's Critical Impact
1. Merchandising in the Age of Ecommerce
Ecommerce has seen a staggering rate of adoption and growth, reshaping consumer behavior and business strategies alike. It has transformed the world of traditional retail, making the transition from physical stores to digital platforms a critical move for businesses worldwide. The essence of ecommerce merchandising lies in creating an online environment that mirrors the tactile and visually rich experience of in-store shopping, adapting to the habits of the modern online shopper.
Despite the economic downturn during the pandemic, the ecommerce sector witnessed significant expansion, becoming the primary channel for many sellers and buyers. The global ecommerce revenue saw a remarkable increase of approximately 19% during the initial phase of the pandemic in 2020, showcasing the resilience and adaptability of the digital marketplace. An effective ecommerce merchandising strategy is a blend of smart product placement, dynamic visual storytelling, and insightful data-driven decision-making. It aims to create a compelling online environment that mirrors the physical retail experience, ensuring that products not only reach their target audience, but deeply resonate with them.
With 95% of purchases expected to become online by 2040, understanding the intricacies of ecommerce merchandising should be every retailer's raging priority.
[Source: angroid]
Prior to the pandemic, ecommerce accounted for only seven percent of grocery retail sales. However, this figure climbed to ten percent amid the pandemic, illustrating a significant shift in consumer shopping habits toward online platforms. Small and medium B2B companies worldwide also felt the positive ripple effects, with the US small business ecommerce revenue share jumping from 17% to 19% and a notable 31% overall increase in ecommerce penetration. The rapid evolution of ecommerce has made it an essential part of the global retail landscape, with continuous growth expected in the coming years. Merchandising in ecommerce focuses on leveraging digital tools and platforms to effectively reach and engage consumers, driving conversions and loyalty. It mirrors the intuitive, sensory-guided experiences of physical stores within the digital realm, fostering an environment where products not only find their audience, but also resonate with them on a profound level.
Let’s delve into the multifaceted approach required to refine your ecommerce merchandising strategy, ensuring your online store not only meets, but exceeds the expectations of today's discerning consumer.
2. Strategic Product Placement: The Heart of Online Merchandising
Ecommerce merchandising is the harmonious blend of strategic product placement, compelling visual storytelling, and data-driven decision-making in an online setting. Incorporating top PIM softwarecan significantly enhance this blend by centralizing, organizing, enriching, and distributing product data across multiple channels and platforms. Having said that, product placement remains at the heart of online merchandising embedding itself into the very essence of customer engagement, conversion optimization, and brand loyalty.
2.1 Harness the Power of Strategic Product Display
Elevate your ecommerce platform with the precision of a gallery curator. Think of your online space as an exhibition where each product is a masterpiece, meticulously placed to capture attention and inspire action. The strategic arrangement, coupled with compelling visuals, transforms the casual browser into a committed buyer, underlining the importance of aesthetics in digital commerce.
2.2 Leverage Data-Driven Wisdom for Unmatched Precision
In the realm of digital commerce, data is the compass that guides every decision. Employ data-driven insights to tailor your offerings to the nuanced preferences of your audience. This approach sharpens marketing strategies and elevates customer experiences, turning insights into actions that drive growth and customer satisfaction.
2.3 Craft Immersive Shopping Experiences
Imagine crafting an online environment so engaging that it rivals the allure of physical stores. Through innovative use of technology and storytelling, create an immersive shopping journey that captivates from the first click. This digital alchemy involves weaving together vivid product narratives, seamless navigation, and personalized touchpoints that improve customer experience and resonate with your audience on a profound level.
2.4 Empower Your Brand with Visual Storytelling
Visuals speak louder than words in the digital bazaar. Employ dynamic visual storytelling to showcase your products in a way that tells a story, evokes emotions, and ignites the imagination. This method highlights the uniqueness of your offerings and builds a memorable brand identity that stands out in a saturated market.
3. Visual Merchandising: Crafting Compelling Digital Narratives
The visual aspect of your online store plays a critical role in capturing and maintaining the interest of potential buyers. High-quality images, engaging videos, and immersive layouts are essential for improving product discovery and enhancing their value and appeal.
3.1 Tips for Maximizing Visual Impact
High-Quality Product Imagery: Use high-resolution images that accurately represent your products. Offering multiple views and zoom functionality helps customers get a better sense of the product, leading to increased confidence in their purchase decisions and making ecommerce experience more enticing to shoppers.
Lifestyle Photography and Videos: Beyond mere product shots, incorporate lifestyle images and videos that show your products in use. This helps customers visualize the products in their own lives, enhancing the emotional connection and perceived value. Implementing lifestyle photography and videos bridges the gap between online shopping and the tangible feel of a physical store.
Consistent Branding: Ensure that your visual content aligns with your brand identity. Consistency in style, color schemes, and messaging reinforces brand recognition and builds trust with your audience, fostering a fulfilling customer experience every time they browse product pages.
3.2 Homepage Optimization
Your homepage serves as the gateway to your brand’s world. It should encapsulate your value proposition, highlight current promotions, and guide visitors towards key products or categories. Engaging content, coupled with clear CTAs, lays the foundation for a journey ripe with potential for discovery and conversion.
3.3 Product Grouping and Categorization
Organize your offerings in a way that reflects the natural browsing and buying patterns of your target audience. Effective categorization and content marketing enhances discoverability and simplifies the decision-making process for customers, thereby reducing friction and bolstering sales.
3.4 Personalization and Recommendation Engines
Utilize data analytics and AI-driven tools to offer personalized product recommendations. This not only enhances the user experience by making it more relevant and engaging but also increases the likelihood of upselling and cross-selling.
4. Leveraging Data for Dynamic Merchandising
The ability to collect, analyze, and act on data is a powerful advantage of an effective ecommerce merchandising strategy. Ecommerce platforms are treasure troves of insights into customer preferences, behaviors, and feedback.
4. 1 Customer Behavior Analysis
Monitor how visitors interact with your site. Which products are they drawn to? Where do they spend the most time? Insights from these behaviors can guide adjustments to your merchandising strategy, ensuring you’re always aligning with customer interests.
4.2 A/B Testing
Regularly test different elements of your ecommerce site, from product placements to the design of CTAs. This iterative process allows refining the ecommerce merchandising approach based on concrete data, optimizing the user experience and increasing conversion rates.
4.3 Feedback Loops
Encourage and analyze customer feedback. Reviews, ratings, and direct feedback can provide invaluable insights into product performance, customer satisfaction, and areas for improvement. Mastering ecommerce merchandising is a journey of continuous learning, experimentation, and adaptation.
By focusing on strategic product placement, leveraging the power of visual storytelling, and harnessing data for informed decision-making, online shopping experiences can exceed customer expectations.
5. Featured Ecommerce Companies and Tools
The ultimate goal of ecommerce merchandising is not just to sell products, but to build lasting relationships with customers, fostering a sense of loyalty and trust that propels brands to new heights. Here are ten ecommerce solution providers that empower digital merchandising with their signature capabilities.
5.1Bloomreach
Bloomreach is pioneering the art of digital experiences with a vision that transcends mere convenience. The company is dedicated to delivering experiences that are not just incredible but also unforgettable, transforming everyday digital interactions into something extraordinary.
Key attributes
Business Empowerment: Enabling companies to create compelling digital narratives.
Visionary Outlook: Setting new standards in the digital experience landscape.
Enriched Global Presence: Influencing lives and businesses worldwide.
Digital Craftsmanship: Fusing simplicity with spellbinding experiences.
Growth Catalyst: Transformative experiences as a driver for business growth.
5.21WorldSync
1WorldSync champions product content orchestration, simplifying content creation and distribution to power ecommerce and digital retail with accurate, consistent information. As a leading commerce network, 1WorldSync boasts an impressive influence, powering 87% of the world’s top brands and retailers.
Key attributes
Content Orchestration Leader: Focused on high-quality, relevant content.
Market Influence: Serving top brands and retailers globally.
Business Performance: Demonstrated impact on efficiency and conversions.
Innovative Ownership: Supported by Battery Ventures for continued excellence.
Comprehensive Information Access: Local and global product information reach.
5.3Algolia
Algolia defines the epitome of search and discovery in the digital realm, harnessing AI to instantly connect users with what they seek. According to a Forrester Consulting study, customers gain a 382% return on investment with less than a six-month payback period when deploying the Algolia Search and Discovery platform.
Key attributes
End-to-End AI Platform: Combining NLP and vector search on a unified API.
Scalable Search Experiences: Servicing billions of queries for global brands.
Unmatched Performance: Delivering over 100,000 search interactions per second.
ROI Champion: Proven financial return for customers utilizing its platform.
Global Growth: Expanding from Parisian roots to a commanding presence in San Francisco.
5.4Bluecore
Bluecore is transforming retail marketing through data intelligence, making personalized, cross-channel communication not just possible but efficient and compelling. The platform's automation capabilities are transformative, precisely targeting the "who, what, when, and where" for each individual shopper, ensuring that every message is highly relevant and timely.
Key attributes
Data-Driven Marketing: Seamlessly integrating data into campaign workflows.
Automated Precision: Tailoring communication for individual shopper profiles.
Trusted by Major Brands: Endorsed by over 400 leading global retailers.
Revenue Growth: Focused on driving customer retention and predictable growth.
Cutting-Edge Solutions: A dynamic platform for evolving retail marketing needs.
5.5Bridgeline
Bridgeline excels in amplifying online presence for businesses, offering a suite of tools that elevate traffic, conversions, and ultimately, revenue. One of their prominent products is Hawksearch, which provides a suite of digital experience solutions. These include feature-rich ecommerce and content management capabilities, turn-key site search and merchandising, SEO optimization tools, and more.
Key attributes
AI-Powered Insights: Advanced site search tools for customer satisfaction.
Robust Revenue Tools: Focusing on site search, merchandising, and SEO.
Hawksearch Advantage: Comprehensive digital experience solutions.
Strategic Partnerships: A vast network of partners enhancing digital strategies.
Innovative Technology: Utilizing AI for smart recommendations and sales.
5.6RichRelevance
RichRelevance, now Algonomy, personalizes digital experiences, propelling growth and brand devotion for some of the most celebrated retailers worldwide. Algonomy's technologies are adept at bridging the gap between marketing and commerce, a crucial aspect for digital marketing leaders.
Key attributes
AI-Powered Personalization: Bridging marketing with commerce effectively.
Life-Cycle Spanning Experiences: Offering real-time, scalable solutions.
Global Expertise: A San Francisco-headquartered company with a worldwide reach.
Industry Leader: Trusted by iconic B2C and B2B brands and retailers.
Customer-Centric: Crafting experiences that resonate on a personal level.
5.7Shopware
Shopware has cemented its role in digital commerce, providing an omnichannel platform designed for flexibility across various business models. Shopware's global network of 1,600 sales, technology, and solution partners contributes to a stable and supportive ecosystem.
Key attributes
German Ingenuity: Established in Germany with a growing North American presence.
Customizable Architecture: Headless, API-first, and open-source for unique experiences.
Extensive Partner Network: Supportive ecosystem with over 1,600 partners.
Impactful GMV: Processing over 20 billion USD in Gross Merchandise Value.
Comprehensive Solutions: Aiding mid-market to enterprise-level merchants.
5.8Coveo
Coveo leads the charge in powering digital experiences, utilizing AI to craft interactions that are both intuitive and transformative for global brands. For enterprises to achieve the AI-experience advantage at scale, Coveo believes that it is imperative to deliver semantic search and generative experiences at each customer and employee interaction.
Key attributes
Experience Powerhouse: Millions served with billions of interactions.
AI-Experience Advantage: Mastering the business-to-person dynamic.
Enterprise Backbone: Delivering semantic search and generative experiences.
Visionary AI Integration: Anticipating the needs of customers and employees.
Competitive Edge: Experience as the front line for every business's success.
5.9EDITED
EDITED is at the cutting edge of retail analysis, providing automated solutions that empower retailers to thrive through data-driven strategy optimization. Its platform is particularly valuable in the fast-paced retail environment, where understanding market trends, competitor moves, and consumer preferences is crucial for staying ahead.
Key attributes
Retail Intelligence Pioneer: Merging business analytics with market data.
Data-Driven Decisions: Turning insights into profitable retail strategies.
Agile Market Response: Keeping pace with fast-moving retail dynamics.
Actionable Insights: Empowering retail professionals to grow profits.
Competitor Analysis Expertise: Navigating trends and consumer preferences.
5.10Akeneo
Akeneo offers a robust PIM solution, orchestrating product information to enrich and expedite the journey from product management to market. The Akeneo Product Cloud is a significant offering from Akeneo, a SaaS-based solution that orchestrates, activates, and optimizes product experiences across various channels such as e-commerce, mobile, social commerce, and more.
Key attributes
PIM Excellence: Streamlining and enhancing product information management.
Product Cloud: Orchestrating experiences across diverse sales channels.
Collaborative Tools: Enabling teamwork for faster product readiness.
Tailored Solutions: Catering to various industries with specific needs.
SaaS-Based: Offering scalable and flexible product information management.
6. Summation: A Nod to Ecommerce Merchandising's Critical Impact
With a significant portion of consumers conducting online research for major purchases and engaging in spontaneous 'micro-moments' of shopping, the need for an optimized online retail environment has never been more critical. As the competition is fierce and the expectations of potential customers are rapidly evolving, the significance of refined ecommerce merchandising strategies cannot be overstated. A well-orchestrated approach to online merchandising, leveraging high-quality product photography, significantly enhances the visibility and attractiveness of all offerings to the online shopper. Harnessing customer data effectively allows for a personalized shopping experience, fostering a stronger connection between a brand and its audience. Moreover, integrating social media into the ecommerce strategy amplifies a brand’s reach and opens up new avenues for engagement and customer acquisition.
The desire for virtual try-on experiences is a testimony of ecommerce evolution and highlights the growing demand for interactive and personalized ecommerce experiences. As such, ecommerce merchandising has cemented itself as a cornerstone of online retail, essential for attracting attention, driving sales, and delivering personalized shopping experiences that resonate with the modern consumer's expectations.
However, amid escalating competition and narrow conversion windows, the necessity for instantaneous inventory and merchandising refinement is paramount, yet unattainable without automation. This implies merchandising managers must embrace ecommerce merchandising task automation for critical operations. Also, through searchandising, owners of ecommerce stores can leverage the ability to spotlight particular items, including those with high margins, top sellers, or those relevant to the current season. By focusing on these dynamic aspects, along with strategic visual merchandising, businesses can secure their position in the competitive online marketplace.
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POS Solutions
Article | March 23, 2022
How much does it cost to install a point of sale (POS) system?
It’s a question that we get all the time and the answer might surprise you.
If you’re trying to grow a retail small business, you probably don’t have all the money and resources in the world to commit to an expensive retail POS system.
Moreover, finding the best retail POS system for your growing small business is easier said than done, especially if you don’t know what features to prioritize in your search.
So, what’s the good news? Finding the right POS system for your business is as easy as 1-2-3 and installing a POS system is actually quite affordable!
How Much Does it Cost to Install a POS System?
The short answer: it depends and varies by POS type and by vendor. We've seen POS installation costs range from $0-$700. Installation costs come on top of the upfront hardware costs (up to $1,600), monthly software fees (anywhere from $9-299 per month) and payment processing fees.
When it's all said and done, your total cost of ownership for year one can range from $1,200-$6,500. Controlling POS installation costs is key in minimizing first-year total ownership cost.
There are two types of costs to consider related to installing a POS system: time costs and financial costs. The most significant delays come when the POS system isn’t pre-configured for your unique business. In this scenario, you may spend a considerable amount of time aligning the system with your sales processes.
Additionally, if your inventory management, employee payroll, and other tools are built inside separate programs, you may need to spend time integrating and combing these systems, thus increasing POS installation costs.
Finally, if the provider doesn’t offer online software guides or tutorials, you may spend your time figuring out features and functionality on your own. Without these helpful resources, you’ll spend a considerable amount of time fumbling through the system. No one has time for that!
These time costs tie directly into financial costs. Instead of spending time installing a POS system yourself, you could be spending that time ringing in sales!
Here are some of the other things that influence POS system installation costs.
Number of Stations
If your POS system isn’t pre-configured so that you can “plug and play,” you’re most likely going to require an on-site technician to install your POS. Often, the total number of stations influences total installation cost. The more stations you have, the more time the technician has to spend installing them, and the higher your installation costs will be.
Type of Software/Hardware
This is another downfall of not purchasing an all-in-one retail POS system that comes pre-configured. Some software and hardware come with additional installation costs because they require more time for your on-site technician to complete.
These costs can also be looked at from the type of POS system you purchase: on-site, cloud-based, or hybrid.
On-site POS systems typically take the most effort to install, meaning a higher financial cost. Cloud-based and hybrid POS systems are easier to install, but installation time is dictated by whether the software and hardware is pre-configured or not.
Advanced Features
Many advanced POS system features may require additional time and additional cost for a technician to install.
iPads or other mobile devices for staff to use when serving customers
Handheld scanners for inventory
Payment hardware and their corresponding security systems or software
Data or product migrations from your previous POS system
Number of Users
Certain POS providers price their system based on the number of users. This can also affect install costs. If you require an on-site technician and/or you don’t have access to a tutorial for adding users to the system, the technician will most likely have to do that for you. Again, this means more time spent installing your POS system, increasing the total installation cost.
Training
Some POS providers will wrap POS system training into installation costs. This will require an investment of time from key stakeholders, including management and employees.
Some POS providers will also charge you for additional training outside of the initial training session. If they don’t have online training resources, this means every new employee will either need to be trained by the provider (costing you money) or trained by you or another staff member (costing you time).
POS Nation Reduces the Cost of Installing a POS System
With a POS Nationall-in-one retail POS system, setting up your hardware is easier than you’d think. The benefit of purchasing a full point of sale system from us is that it’s a plug-and-play solution. Take it out of the box, plug everything in, and it’s ready to go! Our team of technicians pre-configures your hardware so you don't have to worry about any installations when it arrives. Most of our advanced features are baked right into the software. There are some that cost extra, but most are pre-installed, making us a more powerful and affordable solution.
Additionally, you are assigned a customer success manager. Their goal is to help you get up and running as quickly and smoothly as possible. They will schedule a hardware setup appointment with you. During this call, they will assist you with:
Remote hardware setup
Hardware testing
A test transaction on the pinpad
Any basic training they can cover during the appointment time
They will book as many training sessions as you need to solidify your understanding of the software and its many functionalities.
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