In the first part of our article on efficient promotion methods, we discussed the price-based tactics of sales promotions. One should say that these methods are effective only in the short run. In contrast, non-pricing methods can bring a long-lasting positive effect. So, let’s consider those approaches and find out what are the main pros and cons of each of them.
Convincing a buyer to make a purchase is not an easy task. Before buying something, people compare different options. For some consumers, the price is important, others pay attention to the quality, and someone wants to buy goods provided with additional services. Therefore, it is necessary to carefully choose certain sales promotion methods depending on your business goals.
Recently, we made an overview of the e-commerce market to determine the CMS most preferred by online stores in 2017. Since our last study conducted in March 2016, many things changed. A number of e-commerce platforms made their way in the leaderboard, however, some solutions lost their positions. So, the current standings are presented below.
To achieve success in the e-commerce field one should be guided by such inviolable rules of trade as the measurement of key performance indicators (KPIs). Simply put, measure everything that can be measured and you will eventually understand the indicators influencing capital formation and be able to correct them in time.
As you already know the Magento team has renamed its products just recently. Now, the CMS is available as Commerce Edition (formerly Enterprise Edition) and Open Source Edition (formerly Community Edition). Lately, the team introduced the release candidate of its platform – Magento 2.2 that should provide users with a whole new experience of work with the platform. In this article, we will find out what to expect with this new release. But first, let’s remember how it all began.
Internet business development is based on huge data streams, so the result of any online business performance depends on the ability to work with them. In this context, artificial intelligence (AI) is not only the present of internet trade but also its promising future. Today, marketers, internet sellers, and distributors are already starting to use personal assistants, chatbots, automated merchandising and retargeting systems – but this is just the tip of the iceberg.
The most obvious ecommerce trend is that online sales grow and obtain all the characteristics of the global digital market, including indispensable involvement of big data, data exchange and standardization. Successful ecommerce becomes too complicated to be build individually. The rising competition makes merchants engage third party services like data aggregators enhancing different aspects of the sales process, including product pages and reviews, sales statistics, etc. Below we’ll highlight some services proved to be ready to add more value and insight to any online store and for any seller.
The idea of cashless society appeared in 1990s, when non-cash payments became popular in everyday life. As a result, some economists developed a theory of an absolutely cashless economy without paper money used for transactions or savings. Since then, the amount of digital transactions raised manifold in the whole world, still none of the countries was able to completely remove cash from use. The number of non-cash transactions in the whole amount of payments made by citizens of a country shows how close it is to be able to negate cash totally.
Ecommerce chatbots are gaining popularity and considered to replace humans in the area of shopping consulting just in several years supposedly. There are two reasons for this phenomenon, economic and technological. The chance to build and implement human-like digital consultants appeared with the development of the corresponding technology and the process of users migration from applications to messengers.
Prescriptive and predictive analytics are among the advanced ecommerce trends of this year and turned to be widely used by online stores as well. The number of engaged users and dedicated software applications increased manyfold in recent years. So, what is the reason for this tide?
