Business Reporter: Avoiding retail cannibalisation
While eCommerce sales grow, some retailers are seeing online sales cannibalise in-store sales
LONDON, May 4, 2021 /PRNewswire/ -- In an article and video published on Business Reporter, Roland Gossage, the CEO of eCommerce search software company GroupBy, describes how some retailers have seen sales drop during the pandemic despite having an eCommerce website.
Those retailers have failed to deliver the same high quality user journey across their brick-and-mortar, mobile and desktop stores. This means that online sales have merely replaced in-store sales.
Creating a positive user experience starts with the search functionality that powers the online experience. To prevent consumers being frustrated by empty search results, website owners need search engines that will translate, identify synonyms, and correct misspellings.
Personalisation of the user experience is also important. Machine learning algorithms can be used to surface or suppress products based on a variety of factors including brand, style and price preferences, previously purchased items and location. Machine learning is powered by data. Gathering this and analysing it effectively enables retailers t understand their customers' online behaviour, and allows them to continuously improve their metrics.
Another essential strategy is to remove all friction from the process. Payment needs to be seamless, with multiple options. And delivery must offer a variety of choices including same day and collect in store.
According to Mr Gossage, transforming online retail does not require expensive re-platforming. Instead, API-first micro-services can be used, removing friction and generating improvements in a matter of weeks. At the same time, manual effort is reduced, freeing up analysist and marketing executives for activities that generate additional value.
To learn more about increasing eCommerce conversion rates read the article.
About Business Reporter
Business Reporter is an award-winning supplement published in the Sunday and Daily Telegraph, City AM and online, delivering news and analysis on issues affecting businesses to a global audience. It also hosts conferences, debates, breakfast meetings and exclusive summits.
GroupBy's cloud native technology powers the world's most relevant and highly converting eCommerce websites, while reducing manual effort. Our SaaS-based suite provides industry-leading features for data enrichment, search, navigation, personalization, merchandizing and SEO and is backed by our white-glove service. We excel with complex, large-scale B2B configurations and in dynamic, high volume B2C scenarios. Founded in 2013, GroupBy is headquartered in Toronto, Canada and has offices in Austin, Texas.
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