Boost online sales and move inventory
Using the built-in analytics of an automated e-commerce platform, vendors can monitor product rankings and track competitor performance. Data-backed decision support makes it simple to carry out price adjustment and product catalog optimization, improving performance and increasing sales on marketplace channels.
E-commerce automation can also help brands lower inventory costs by reducing overstock.
An assessment of data for a set period of sales can help vendors better understand buying patterns and plan inventory, anticipate peaks in demand, and reduce losses.
Limited-time discounts and significant markdowns pushed via social media channels are just two ways vendors can eliminate excess inventory. Data analytics offer reliable consumer purchasing insight to optimize pricing and determine the ideal length of promotional offers.
Reliable data that are updated automatically across digital marketplaces provide the visibility for vendors to assess and adjust their stock levels—a key performance indicator impacting vendor ranking on the marketplaces.
Promote and increase brand awareness
Online fashion marketplaces invest considerable resources to acquire traffic from various sources.
Key to their strategy is the continual renewal of the marketplace’s overall product offering. When individual sellers provide items in high demand, they are rewarded with greater visibility.
Marketplaces feature popular products and ranges on the home page, push items via e-mail and cross-sell and up-sell through related product suggestions. This degree of exposure can significantly increase brand awareness.
Products and ranges become more familiar to consumers while also garnering attention on social media.
Fashion marketplaces’ tremendous potential to expand reach and attract a larger audience make it paramount to satisfy their product quality and publication guidelines.
By maximizing the impact of individual product listings, vendors can also maximize brand reach, sales and profitability.
E-commerce automation delivers capabilities to publish relevant, complete product listings and descriptions that conform to marketplace guidelines, as well as powerful analytics to track and improve performance by incrementally adjusting offerings.
Gain valuable insight from data analytics
E-commerce automation lets you harness the power of performance data to increase the efficiency of your marketing campaigns and boost online sales.
Purpose-built software solutions automate integration across all e-commerce platforms, enabling concurrent analysis of all data sources at the speed and scale of your fashion business. Data analytics can reveal insight to:
- improve product assortment and availability,
- update product attributes,
- optimize product description copy and visuals,
- continually improve product quality,
- adjust pricing and promotions,
- and take into account valuable customer feedback.
Larger data sets acquired over multiple seasons can furthermore enable vendors to respond to influxes in demand, new trends, and changing customer preferences.
Drive engagement to grow revenue
The key benefit of a marketplace presence is personalized interaction with customers.
By using e-commerce automation to drill down into deeper customer insights, fashion vendors can deliver a product offering more in line with consumer expectations, winning loyalty at the same time.
To maintain brand loyalty, e-commerce automation offers the data and insight to inform the customer experience and foster engagement.
By harnessing e-commerce automation data, vendors can simplify product searches and recommendations for customers, making it easier to locate items they like.
Data analytics can also deliver the decision support to tailor product offerings and promotions to customer preferences. These positive customer experiences reinforce brand loyalty, leading to repeat sales, increased business and boosted revenue.
What are the benefits of a multichannel sales strategy?
- Lower the cost of acquiring new customers by selling on established platforms.
- Generate online sales without building or running a proprietary website.
- Increase brand reach by leveraging digital marketplaces’ larger target audience.
- Improve product offerings by gaining insight from customer reviews.
- Raise your profile by benefiting from marketplaces’ PR budget and strategy.
- Gain a social media presence through marketplace posting and publishing campaigns.
Making the most of marketplace opportunities
Accessible and scalable, digital marketplaces allow fashion companies to quickly expand their product catalog, grow their business diversify revenue streams, and reduce supply chain risk.
For consumers, marketplaces offer an endless array of choices and personalized experiences with the ability to quickly comparison-shop.
To make the most of all that online marketplaces have to offer, e-commerce automation solutions place a full suite of digital capabilities at fashion vendors’ fingertips to boost sales and support long-term customer loyalty and branding strategies.