POS Solutions
Article | March 18, 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 Retail
Article | May 10, 2024
“Software-led payments is more than just ecommerce or online invoicing, as many software platforms are starting to offer solutions for card present transactions.”
- Caleb Avery, CEO of Tilled
The omnichannel retail marketplace has been witnessing a surge in recent years. A buyer has a natural tendency to check the details of the products or services on the internet. But a single purchase may involve different channels like apps, websites, store walk-ins, etc. For example, a customer may conduct online research and purchase an item before picking it up from a retail store; or, conversely, he may go to a nearby mall and inspect the product first before purchasing it online.
Therefore, retailing has become increasingly about providing multi-channel or cross-channel experiences to customers. If the merchant misses out on his goods being offered on any channel, it will harm the customer experience (CX).
In such a circumstance, deploying a POS system built for multi-site store networks that takes care of the maintenance of the website and all the locations in the chain simultaneously is a blessing for the retail sector. The point of sale is now an important part of an eCommerce plan for a business and a key part of its ongoing marketing strategy.
Drive Loyalty and Sales Using Your Omnichannel POS
A retailer's point of sale is the hub of every business action, wherein sales, marketing, inventory, customer management and customer service merge. But what many still don't realize is its powerful role in unlocking customer loyalty and higher revenue.
With a modern and adaptable point-of-sale system, lengthy transaction times are minimized and may be boosted while simultaneously processing more consumers, enhancing the customer experience.
Your omnichannel POS should permit the configuration of several payment methods. Customers can choose various payment methods, such as credit cards, digital wallets, PayPal, and cash.
POS data should be utilized in all company decisions in today's society. Additionally, POS data is essential for merchandise planning. For example, if a product is not selling quickly enough, sell-through and sales-by-margin analytics can influence your pricing decisions and allow you to adjust accordingly.
A common misconception about POS is that it is only a point of contact between your clients and your business. However, when its tremendous capabilities are utilized, it becomes a tool that helps you understand your clients, enhance their experience, and guarantee you are prepared to meet their demands.
Importance of Using POS and Ecommerce Integration
Combining CRM and POS software enables staff members to review and update client information instantly. You can develop new sales methods based on customers' interests and previous purchases. The omnichannel point of sale integrates with Tally, Quickbooks, etc. You may export order receipts from all channels directly.
With omnichannel POS, your firm is accessible to customers 24 hours a day. Customers can purchase at one store and receive delivery from another, as well as other choices designed to improve the shopping experience.
A retail eCommerce platform with seamless integration benefits both businesses and customers.
Bottom Line
Innovation in omnichannel retailing and investment in the POS system's digitization helps track and fulfill online, and offline customer needs. It goes without saying that the future of POS and retail are closely intertwined. In the coming years, POS will see a radical shift. Now is the optimal time for laggards to catch up or risk falling behind.
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POS Solutions, POS Retail, Ecommerce Merchandising
Article | June 7, 2024
You have to be living in a cave if you haven’t experienced e-commerce already!
No, we aren’t really bluffing when we say this. With a business model that is growing steadily at 23% year-over-year, aren’t e-commerce markets the place to be?
Further, to add on, 2020 has been a year like no other in recent history. The events of the coronavirus pandemic that marked its spread on a global scale, worked wonders in bringing us closer to e-commerce than we ever were.
The e-commerce industry was the backbone of humanity amidst the time of pandemic and uncertain lockdowns across different countries around the globe.
Considering the fact that e-commerce has been suited to the trend amidst the pandemic, let’s have a look at how the world’s largest democratic, India, which is also one of the hot spots for e-commerce giants, has kept up with its buying and selling during 2020.
Let’s get started!
The total “your order is placed successfully” notification so far:
Beginning its spree of three months, lockdown in the country was enforced in the last week of March. Being the innovators of ‘jugaad’(alternative way of solving or fixing a problem), Indian’s were prepared for the event, giving the e-commerce sites, a taste of dip with 2.40% on the overall orders placed (Yes, we should also consider the events of lockdown on courier facilities). However, this wasn’t it as the highest dip was about to come in April 2020, giving a 10% blow to the e-commerce industry.
While these were the lower points, the e-commerce industry has experienced a boom in orders placed after April, marking the highest for the year with July.
However, we are not done with the sales yet!
Wonder which particular segment was the king of sales amidst the entire pandemic drama?
Guess…
Seems like we Indians love our gadgets really well, yes, it was the electronics!
With ‘unlock 1.0’ in action, we had our carts prepared for checking out, the e-commerce industry in India witnessed a growth of 162%. However, this was just a mere aid to the losses as June faced a setback again!
Interestingly, September marked a change in the charts, making the highest number of orders placed in e-commerce platforms, marking a 43% spike in electronic sales.
How Indians sold in 2020!
2020 has been a year like no other (in both senses of the word). The extended lockdowns and social distancing helped our local kiranas (General Store) to share the platform beside some large enterprises, allowing businesses of all forms to adapt to hyper-local e-commerce.
Conclusion
Ecommerce has earned its rightful place as the most preferred shopping mode for us Indians. Thankfully, the markets have picked up with their pace, post the events of Unlock 1.0.
For any business, one of the best news that they can conclude the year with is the fact that consumers are no longer using digital platforms for their daily needs. Online platforms have earned their rightful place, making it the perfect time to depend on e-commerce business. Lastly, have also secured the 9th position in global growth.
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POS Solutions
Article | April 15, 2021
For many years, payment terminals have been a vital tool for businesses that complete their customer transactions in-store. The familiar hand-held devices have reliably taken card payments and offered simple additional services like mobile phone top-ups, cashback or electronic tipping solutions.
However, with recent technical innovation, boosted by the urgency surrounding Covid-19, the humble payment terminal is shedding its hard exterior - no longer is it, as some would argue, simply a commoditised, hardware-based necessity. As many within the payments space have predicted, the payment terminal is truly becoming a digital enabler and vital pivot point of modernisation for any business that accepts electronic transactions.
The Android Operating System leads the way
Today, payment terminals come in many forms. Though the traditional, handheld counter-top devices remain, many businesses now use off-the-shelf smartphones or tablets enabled with SPOC and CPOC technology.
Regardless of their physical form, truly modern payment terminals share a commonality – enhanced functionality which allows businesses to update and adapt quickly to changing performance, environments, and customer needs.
The Android operating system has been at the centre of a latest wave of innovation, facilitating the rise of mobile payment devices - pushed hard by the likes of Visa - and supporting the budding versatilities presented by Open Banking and PSD2 initiatives.
Combined, this new choice and flexibility has the potential to deliver significant advantages to businesses deploying Android point-of-sale (POS) solutions. These include integrated EPOS, strong authentication, and an array of alternative payment methods such as bank-to-bank payments, QR codes and even crypto currencies.
It’s about more than being just Covid-ready
Getting the timing right to make adjustments and improvements is now a focus for businesses across the UK as we start to emerge from Covid-19 restrictions and resume face-to-face interactions. The conventional payment terminal can play a central part in engineering the essential adjustments needed to create a Covid-safe environment – the new £100 contactless limit being the most obvious example.
However, functionality provided by the latest payment terminals allows businesses to do more than just make their premises Covid-ready.
For more commercial gains, payment terminals running on the Android OS allow for this same POS functionality but combine it with other essential business systems such as stock management, visual itemisation, and centralised booking systems.
As well as providing greater visibility of a business’ health and finances, more information also means friction points such as wait times and queues in store can be better managed. More data about customer behaviour also makes the in-store experience more customisable, for example, businesses can use this data to identify their busiest periods, explore seasonal changes or test new product lines and structure their staff planning and stock levels accordingly.
Coupled with more vital operational efficiencies, payment terminals can allow for a speed and flexibility of payments that can directly enhance the bottom line.
As the pace in retail environments ramps up to match that of the pre-Covid days, meeting new customer expectations and new environmental changes will be critical in staying relevant. An ability to accept the latest types and methods of payment could actually play a part in helping a business survive through difficult economic times.
Bolstering cash flow will also take on added importance as businesses rebuild. Payment terminals powered by better internet connections mean transactions are already faster, but internet speed alone is not enough. Today, terminals can be updated in ways that allow merchants to process those transactions faster still and get funds deposited into bank accounts in batches throughout the day, often completing within the hour.
Payment terminals and Big Data
With data becoming the bedrock of all modern businesses, it is the Android operating system’s ability to generate such an impressive wealth of data that adds to its compelling proposition. The value of Big Data and analytics to filter large volumes of information and uncover actionable insights is well known to the business world. Useable information can help leaders learn about their customers, make better decisions and, ultimately, produce more revenue. Customer data, for example, makes it possible for a business to learn about the buying behaviours of an individual customer or of defined customer segments.
When a business knows the time of day (or night) their customers shop and what type of purchases they make, it becomes easier to plan when inventories are stocked and with what items. Android payment terminals can provide data in a way that offers easy visibility of key trends and which specific hours of the day produce the most sales, allowing businesses to investigate possible reasons and react accordingly.
Such knowledge can then be used for a variety of purposes including the ability to upsell to future customers with greater success and the tactical arrangement of items in store. Crucially now, it will also enable businesses to maintain a Covid-safe environment by planning ahead for in-store activity and capacity limits.
With hundreds of applications already available to download from the app store, it’s important that SMEs are able to use this scale of choice to their advantage rather than become overwhelmed or distracted by it. Indeed, by taking the time to explore the apps available, smaller businesses can find the tools which allow them to level the playing field by bringing their operational efficiencies in line with larger brands and by leveraging the solutions that allow them to compete on customer service.
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