The landscape of the retail industry has been already shifting towards optimisation of everyday operations by applying digital technologies. Global retail tech spending was to reach $203.6 billion in 2019, according to Gartner. The COVID-19 outbreak accelerated the...
The ecommerce industry is booming with an estimated 25 percent of the global population shopping online in 2020. This number is most likely much larger with the COVID-19 pandemic. For budding ecommerce business owners, or those who have been in the online retail space...
According to research published by the behavioral marketing company SaleCycle, 82 percent of online orders in the first half of 2019 were abandoned without being converted into a purchase. Research agency The Baymard Institute, meanwhile, found that the average...
In the fast-paced eCommerce sector, relevancy is a critical success factor. Your online business needs to stay at par with advancements in marketing technologies and tactics to survive—leave alone dominate. But how do you stay relevant in an industry that keeps...
Knowing and understanding your customers so the right product can be presented and sold to them in the appropriate way is the route to overall business success. Thanks to advances in tech and ever more sophisticated marketing techniques it’s possible to gain much...
Look around you: online grocery shopping is now a reality, whether you’ve begun to take advantage of it or not. It’s most prevalent in sprawling urban areas given the population density of bustling cities, but retailers like Amazon are already looking into strategies...
Relationships have become a significant factor for success in any venture and knowing how to cultivate it is what separates the truly successful from those who are not. Cultivating a relationship with website users Before the emergence of the internet, which led to...
Over the past several years, the retail industry has undergone a tremendous transformation. With the rapid growth of eCommerce, spearheaded by tech giants like Amazon, retail has become as much as an online experience as a physical one. And it’s spreading like...
Personalization on an eCommerce website is not unusual in today’s consumer-driven world. Customers want brands to know them; to offer products that fit in with their own needs and preferences. They want to have the same kind of experience as shopping at a store...
With the constant innovation and increase in online shopping, so too come insidious cyber criminals with more fervor and creativity. They can send you and your employees shady messages or worm their way through the tiniest security discrepancies that can result in...
In the field of marketing, the term “engagement” is thrown around a lot. Just about every type of campaign will be aimed at boosting “engagement rates.” For instance, success in social media marketing is often measured by engagement indicators such as likes, shares,...
Every business with a physical footprint that deals in tangible goods will eventually run into optimization issues with their supply chain. It's a simple factor of business: If something can be shipped poorly, it will be. Whether poor driving efficiency or less than...
The SAP S/4HANA, also referred to as the SAP Business Suite 4, is usually defined as an accelerated business suite helping businesses to simplify financial transactions and analyze data in real-time, by undertaking the next generation technology. Ever since SAP...
Improved performance is of prime concern for any business or enterprise, and companies in the 21st century are using business intelligence-gathering systems for this purpose. The order fulfillment cycles use the root cause or the post-mortem data analysis for the...
You would probably already know that big data analytics is a trend that has been gaining momentum in a variety of fields. And it is actively used in digital technology development. Huge data volumes are processed every day by machines to help us get a result that we...
Salesforce, the global leader in CRM, announced new innovations across its Commerce Cloud platform that enable companies to bring artificial intelligence, visual search, inventory availability services and more to an entirely new generation of commerce experiences....
User experience (UX) was one of the top trending topics for businesses this past year. You can barely browse through any business blog or magazine without seeing something about improving the UX of your website. Obviously, UX is important and influential over...
We recently interviewed Evan Gappelberg, an accomplished entrepreneur and CEO of NexTech AR Solutions, which brings augmented reality (AR) to the masses by creating an AR ecosystem featuring eCommerce solutions for websites. We spoke a lot about augmented reality in...
When was predictive pricing born? Reportedly, at Japanese rice exchanges in the 17th century, which used rice stock analysis to describe the behavior of the stock market and make predictions about future trends and prices. Today, four hundred years later, retailers...
You would’ve heard of driverless cars. The technology would soon be redefining the way people commute, not only around the world but between and in cities as well. Driverless technology is not only being applied to personal vehicles, but also to commercial...
Big data is a top trending buzzword. But, unlike overused buzzwords such as ‘omnichannel marketing’ or ‘growth hacking’, big data is very underhyped. According to IBM, 62% of retailers report that the use of big data is giving them a serious competitive advantage....
![60 stats & trends that will define the future of eCommerce [Infographic]](https://www.crayondata.com/wp-content/uploads/2022/05/eCom-374x288-1.png)
Electronic shopping was introduced back in 1979 when English inventor Michael Aldrich connected a modified TV to a transaction-processing computer via telephone line and opened the information systems for secure data transmission. This technology became the foundation...
Chatbots are conversational tools, capable of engaging multiple users to give structured responses to the most basic queries. Due to their instantaneity and ease of use, they have demonstrated significant potential on E-Commerce websites. As users face issues getting...
Artificial Intelligence or AI is expected to be in major demand by retail consumers due to its ability to make interactions in retail as flawless and seamless as possible. Many of us do realize the potential of AI and all that it is capable of, along with the support...
For years the retail sector has been making use of customer data to propel their own marketing campaigns forward. What remains to be seen in this regard is, how the future of better data collection and technology, coupled with an enhanced need for customer...
AI is everywhere now! A study shows by the year 2020, 85% of the enterprises will be overtaken by Artificial Intelligence. With its effective methods AI is finding a drill in every industry at its best. Now the question rises as to what effect will AI have in the...
Gazing into the customer’s mind has never been more accessible, and retail companies are taking notice of this and acting up. Big Data is a modern crystal ball which can help eCommerce actors make the most of their offer, pinpoint their niche with high accuracy and...
Understanding your customers and how they'll behave is one of the most important things every salesman is aware of. However, it can be much harder to understand their behavior for online businesses. Nevertheless, it's possible with the help of Predictive Analytics to...
Live chat is one of the best means of communicating with your customer. After all, if there is a user surfing on your website, odds are that he is at least thinking of buying your product or service. Live chat is a way of nudging him from his current state of...
Marketers and big data have something in common: both of them share a profound desire to discover as much as possible about their target audience. However, unlike some marketers, big data can virtually answer any question one could have about the ways to increase...
We are using data in so many different ways today across all different industries. Data helps businesses to operate more efficiently and smoothly, it makes information sharing possible, and provides clients and customers will new levels of service. Well now data,...
There are a few things that matter quite as much in the business world as efficiency. Whether it be in relation to employee productivity, vendor relationships or otherwise, an efficient business is a successful business. This couldn’t be truer when it comes to supply...
As the world of online retail continues to grow at an incredible rate, the information that is possible to collect and analyze also grows along with it. We are able to access an amazing amount of detailed information, to help our online businesses make more informed...
The fashion industry sets styles and trends in apparels and accessories. It is a huge industry that is dynamic and is intrinsically subject to quick changes. For those who work in fashion retail, optimizing the inventory for each season is a huge challenge. In...
For the last few years, it seems like the concept of Big Data is inescapable. Wherever you look – whether it’s Forbes, Tech Republic or even Fortune – everyone has to say something about Big Data. But when you take a closer look and realize the potential of Big Data,...
Gaining (and maintaining) customer loyalty can significantly boost revenue for retailers. However, as the needs and demands of today’s consumers change, customer loyalty is not as easy to come by. Research by Access Development reported that 79% of customers would...
In the digital era where consumers are just as likely to purchase online as in a brick-and-mortar location, delivering a seamless channel experience has become the new competitive imperative. Retailers are ramping up their investments in omnichannel and multichannel...
Today, there’s a lot of buzz around a few words. Data: the big, the small, the relevant. Social media, contextual marketing, going viral, and influencers. Digital advertising, mobile first, e-commerce. Everyone splashes around in the shallow end of tech trends. They...
I was in New York recently, it was — 13°C, on a January morning. Being woefully unprepared for the cold, I immediately walked into the Uniqlo store on Fifth Avenue to check out their Heattech vests, long johns and socks. Much to my dismay, their long johns were out of...
With the emergence of multiple data-generating channels and streams, data is growing at an explosive pace. IDC, a market research firm, forecasts a 44-fold increase in data volume between2009 to 2020. This explosion in data volumes is mainly due to the increase in the...
In one of my previous posts, I talked about how showrooming is causing offline retailers to lose business and how big data can help them attract and retain their customers. If they are your regular customers who have the store’s loyalty points card and if you’re...
For years now, bar codes have been a staple on merchandise of all shapes and sizes. With an incredibly low costs, bar codes have been the go-to method for tracking inventory in retail. However, RFIDs (radio frequency identification) are quickly rising in popularity....
Businesses have been collecting feedback from their customers for a long time. Knowing if the customer is satisfied will help in retaining the customers and creating a sense of loyalty among them. Satisfying customers, improving their experience and delighting them...
For years, fashion industry has had previous data and intuition at its disposal to predict customer demands which is now becoming quite irrelevant considering the fast-changing fashion trends and the tough competition in the market. More so, with more and more people...
The White House has released a report titled "Big Data and Differential Pricing" which examines the concern that companies use the consumer information to charge different prices to different customers -- a practice that economists call price discrimination. The...
![Putting data to work to create seamless circular commerce [White Paper]](https://www.crayondata.com/wp-content/uploads/2022/05/retail-12.jpg)
How can retailers transform Big Data into uber-relevant o ers that make a customer’s purchase activities highly predictable and increasingly profitable? It’s not by focusing on which channel initiated the shopping journey: Rather, today's mobile-enabled customers’...
Do you know how e-commerce website are able to predict and recommend products that a consumer is more likely to buy? Well, the trick lies in their recommendation engines! A recommendation engine is a system which helps people choose what they want, in an easy and...
Remember the time you went to an electronic shop near you to see how it feels like to hold a Samsung Galaxy Note 2 with a 5.55 inch touch screen and what titanium grey looks like? Or to a branded garment store to see for yourself the difference between crimson and...
Big data is the buzz word of 2014. But big data will really play an enormous role in e-commerce in the near future. Of course online retailers already using cookies to store data from the shopping cart to get information about the customer behavior and needs. IP...
I just got an email from an ecommerce website: they are offering a discount of 30% over and above the regular discounts for this weekend. I decided to check the site – on my phone – for a pair of casual shoes that I’ve been planning to buy. There were 3640 options –...