Great technology and a unique selling proposition are not enough reasons for customers to buy more. Retail needs smart data to run their business better and the broken relationship between ecommerce and bricks-and-mortar retail will have to be mended sooner rather than later.
The broadening of the ‘search circle’ means your search criteria need to become more nuanced. Plan beyond the single data point of a postcode or location to keep sight of people as they move in and out of the boundaries of their local area.
To ‘manage, monitor and move home’, disruptor brand Twindig enables buyers to track the property of their dreams before it comes onto the market. By exploiting the power of data, its customers can ‘find and follow any home’, whether currently available or not. This extends Twindig’s presale pipeline and gives them earlier engagement with future buyers than their competitors.
In this on-demand talk from the SAP Together Works Photo Editing Services Summit, part of Econsultancy Live, Maria Morais, Business Development and Strategy Director at SAP, gives examples of what good looks like in store digitalisation, smarter logistics, fulfilment, inventory management and how the precise alignment between supply and demand is crucial to the circular economy transformation.
Beauty and personal care was the most popular category of the day, with sales up 190% compared to the start of the same event the year before. Accessories and sports apparel were the next biggest verticals for sales growth, recording 80% and 75% increases respectively.
The pandemic has seen a rapid uptake of online and mobile commerce in India. Statistics from IBEF show that the country’s ecommerce order volume grew by 36% in 2020, while the total market is predicted to reach $18.2 billion by 2024 (a CAGR of 57%). These figures from Myntra prove what big ecommerce brands have to gain in the region and emphasises the magnitude of the shift in consumer behaviour.