IQLECT
9 Benefits Of Analytics IN Ecommerce 1 Personalized Recommendations for Customers
of consumers prefer receiving personalized messages and offers f rom brands
75% BUY
BUY
BUY
BUY
BUY
of consumers state that they’re more likely to buy f rom stores that offer a personalized experience
88%
BUY
2 Keep an Eye on Consumers' Buying Habits
Constant eye on consumers’ interests Can improve the ongoing relationship Tailors the offer / discount to the consumer's requirements
3 Optimize Pricing To Maximize Profits Historical product pricing Animus X390 USB Mouse
Animus X390 USB Mouse
272 customer reviews | 31 answered questions
M.R.P: ₹299.00 Price: ₹239.00 You Save: ₹60.00(20%)
M.R.P: ₹299.00 Price: ₹120.00 You Save: ₹179.00(60%)
BUY NOW
BUY NOW
Inclusive of all taxes FREE Delivery by Tomorrow 9pm Order within 3 hrs 25 mins.
Inclusive of all taxes FREE Delivery by Tomorrow 9pm Order within 3 hrs 25 mins.
M.R.P: ₹299.00 Price: ₹239.00 You Save: ₹60.00(20%)
M.R.P: ₹299.00 Price: ₹120.00 You Save: ₹179.00(60%) Today
2 days ago
Customer activity
272 customer reviews | 31 answered questions
Preferences & order history Competitor pricing Desired margins on the product Price based on available inventory
4
Forecast Inventory for the Next Season Can track the preferences of visitors and fill a store with relevant products Give you real-time information about demand forecast Determine the volume of sales of a particular product Increase revenue and reduce storage expenses
5 Measure Your Marketing Measures ad clicks, engagement time of the visitors on your site Figure out whether or not your marketing strategy is working Can determine your Return on Investment (ROI) and fine-tune your marketing strategy for the future
WEB TRAFFIC
6 Personalize Customer's Shopping Experience deal
People love to view the Deals of the Day
80% off
Highlight the Deal of the Day so customers can view that first
of the day
60% off
Analytics helps retailers study user behavior The product landing page is most likely to engage the customer and convert them by getting them to make a purchase
7 Analyze Information to Detect Fraud
Detection of f raud based on customer behavior and patterns Before processing the transaction, request customer approval
8 Get to Know your Customer Better Understand the types of customers, their demographics, their behavior as well as the churn cases
Useful in determining the product strategy and any realignment needed in order to meet revenue and business goals
From promotions to launch in order to maximize conversions of visitors
9 Build a Strong Retargeting Strategy
Most people don’t buy on the first visit Keep your brand in the customer's mind Can boost sales Helps reduce shopping cart abandonment
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IQLECT Visit www.iqlect.com to learn how your business can better deliver customer service excellence through real-time data analytics. sources:https://medium.com/@briannawillsss/18-major-benefits-of-e-commerce-business-for-retailers-customers-in-2015-63c5fc87f679 https://www.oberlo.in/blog/20-ecommerce-advantages-and-disadvantages https://www.oberlo.in/ebooks/get-sales-dropshipping/website-personalization https://conversionxl.com/blog/predictive-analytics-changing-world-retail/?hvid=352IDw https://www.shopify.com/blog/14681601-google-analytics-for-ecommerce-a-beginners-guide