6. AI Technology to Ensure Constant Service
AI can help today’s online retailers deliver an optimised customer experience on and off their ecommerce websites by using collected business and customer data to make better business decisions and more accurately predict the future.
Artificial intelligence isn’t just a novel technology implemented for its “cool factor.” Implementing AI has the potential to impact any number of business functions across your organization.
7. Composable Commerce
Composable Commerce is an architecture made of many different services and tools, integrated to provide the complete marketing, sales and service lifecycle, whilst keeping the customer experience and business needs at the forefront. This kind of modular approach enables the selection of best-in-breed solutions for each unique business that needs to assemble a customized tech stack.
Using the composable application approach, digital experiences are assembled as required, depending on the customer and touchpoint requirements, and delivery of an “ecommerce site” may be just one of these experience types.
Marketplaces and sales channels fit nicely in an composable commerce solution; they simply become additional ‘modules’ in an ecommerce stack.
Leveraging marketplaces to boost your brand
For the consumer, purchasing from marketplaces is easy, convenient, and enjoyable; it’s the place to be for your brand. Brands selling on marketplaces tend to see consistent sales as well as additional value in the form of credibility, search engine performance, global reach, and much more.
If you’re looking to expand your business to a marketplace, you’ll want to make sure your products are set for top performance. Marketplaces require more product data than you might expect — and the stronger your products, the better your results.
To ensure your products are set up for success, the data needs to be clean, enriched, structured and customer-friendly – this is where a PIM solution comes into the picture. By centralising your product information in a single repository, PIM enables you to create a single version of the truth, leaving no chances for inconsistencies. This centralised data is then distributed across all marketplaces. PIM can also be used to boost advertising on marketplaces for better product experiences, enhanced traffic, reduced returns, and higher conversion rates.