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Charlie Taylor

This is how companies can increase their e-sales – through inspiration from physical stores

Published: April 13, 2022, 2:48 p.m.E-commerce is growing strongly year after year, and its development curve shows no tendency to slow down. But despite this, the potential for improvement in various online stores is still great – and there is much to learn from the traditional, physical alternatives. That is the opinion of Dennis Konrad, Head of Marketing at Bizzkit. When visiting a physical store, we are immediately met by its range. In a clothing store there is one structure, and in a grocery store another – where, for example, dairy products are always in a specific place. It is not a coincidence, but rather many years of research, says Dennis Konrad, Head of Marketing at Bizzkit. – In the physical stores, research has been done in the area for decades on how, and where, the products should be placed. There are an innumerable number of academic articles on how everything should be done in the most optimal way possible, in order to earn as much as possible, he says and continues: – Something similar has not really existed in e-commerce. We at Bizzkit have changed that through our brand new tool.

E-commerce needs to be improved

More and more people are turning to e-commerce, and after the pandemic of recent years, the number has increased further. For companies, it is therefore high time to make sure to optimize their websites to maximize potential sales – a fact that is easier said than done. – There are two trends when it comes to e-commerce. Either there is an opportunity to sort the products in, for example, alphabetical order, price and to decide for yourself what is to be displayed through different filters. The simple sorting can also be combined with bestsellers, which are manually selected by the company’s e-commerce team. It provides far from the same experience that a customer gets from visiting a physical store, explains Dennis Konrad. The second, more advanced alternative is seen primarily in larger companies. There, they have recently started using artificial intelligence in their e-commerce, he continues. By tracking who you are, your buying patterns and what you are usually interested in via data, this AI tries to present suggestions that can be of high relevance. A step forward from the manual approach – but a step that comes with several limitations. – Extremely large amounts of data are needed, and depending on how many visitors your web shop has, it can take a long time before this AI succeeds in doing what it is intended for.

Increase sales with Bizzkit

When a consumer visits an online store to shop, there are usually two approaches, to manually navigate around through categories, or by searching for a product directly. After extensive research, Bizzkit found that 80 percent choose the first option, and thus chose to focus on this selection. – What we saw was that their buying behavior did not differ significantly from those who visit a physical store. They are looking for what they are primarily looking for, but are at the same time open to experimenting and finding alternatives. The absolute majority do not know exactly what they want, and there a physical store can entice them to go into specific corridors where there are products that the store wants to sell more of. – The reasons why you want to sell a certain specific product are of course many. It could be that there are far too many in stock, that they have a large profit percentage per item or that it is extremely popular, for example. We wanted to offer a tool that did something similar, and we have succeeded. Bizzkits tool offers several opportunities to, for example, integrate data from a variety of areas, such as through Google Analytics and ERP systems. With the help of data that shows what has received the most clicks, what is most in stock, what means the most profit and the like, sales managers can fine-tune the tool’s parameters – and thus change which products are visible on the website. It is also possible to do different split tests where it says in black and white what works better than anything else. The tool was launched in January, and last year a beta test was done together with one of Bizzkit’s customers. After a 30-day period of various optimizations and adjustments, they could see that the end customers’ shopping basket increased by five percent, and that sales increased by ten percent. Bizzkit has seen positive results in a short time, among other things by making the service as simple as possible. enable quick adjustments on the website and to be able to split-test different options. – Our customers have succeeded well and they have really appreciated getting a proper knowledge of the parameters that benefit sales. This knowledge can also be used in future product developments. It is important that you get a proper knowledge of which parameters benefit your sales, says Dennis Konrad and concludes: – We at Bizzkit have a large platform intended for e-commerce. Our vision is to be the solution to companies’ challenges and problems, and that’s exactly what this service does.Read more about Bizzkit and how to get the optimal product order

Info about Bizzkit

Invest in your company’s success with a future-proof e-commerce platform that suits all business processes and customer journeys. Bizzkit is a modern and flexible platform, with fully integrated PIM, DAM, CMS and Commerce Boosters, Bizzkit offers the strongest software base for ambitious B2C webshops and B2B trading solutions. Bizzkit, which was founded in 2003, is among the three most used e-commerce platforms in Denmark and last year it was acquired by the Swedish company QNTM Group. The article is produced by Brand Studio in collaboration with Bizzkit and not an article by Dagens industri

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