Tuesday, 14 May 2013

2.5 Personalised Service, Predict Market Trends & Reduce Wastage

  To make the online shopping experience the best possible, many businesses will attempt to personalise their services, which is usually done by creating a customer database, and then filling it with as much information about the customers as possible. These databases may have information such as actual sales from the site, preferences gained from surverys, personal information gained from competitions and possibly about the links clicked on and the time spent on the pages.
  If the business uses this information correctly, then it is able to target customers as individuals, for their specific needs, not just general shoppers. By using this information they can also find out different information, such as what pages are successful, gaining the most sales, find pages in the site where customers drop out, predict future sales based on their customer-base prefers and tailors its stockholding to predit sales and thus reduce wastage. Reducing wastage is more specific to food retailers rather than clothing, as if too much stock is ordered and does not sell, this can result in stock being thrown away. By knowing what stock is selling the most, or worst, or when there is offers on, the retailers can look at potential trends and know how much stock to order.

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