How Smart Merchandising Can Improve Your eCommerce Business
Smart merchandising is the use of AI-driven algorithms to automate and deliver real-time decision making for teams based on sales data insights. It helps to drive efficiencies in retail operations while also improving shopping experiences for consumers.Go here:https://www.retailexpress.com/
Effective smart merchandising is key to attracting and converting shoppers on your website. It involves the intelligent organization of your product assortment and how it’s presented, including techniques for cross-selling, upselling and leveraging search results, product galleries, banners and dynamic homepage collections.
Smart Selling: How Intelligent Merchandising Boosts Customer Engagement and Sales
The most powerful way to improve online sales is to understand your customers’ behavior and how they interact with your products and services. This is why intelligent merchandising uses data, user experience best practices, and the right eCommerce technology stack to transform visitors into paying customers.
This is why companies that have implemented smart merchandising solutions have been able to achieve significant increases in revenue and sell-through rates. The ability to track and measure the impact of new merchandising activities on sales, revenue, margin and stock levels allows you to make informed decisions and optimize your merchandising strategy in real time.
By understanding consumer demand you can accurately predict and adjust inventory levels to avoid out-of-stocks and overstocking that hurts profits. It also makes it easier to plan your replenishment needs by identifying the optimal price point that will maximize sales and profit margins, while reducing carrying costs and increasing customer satisfaction.