Secure repeat business using information and merchandising

Inventory Management

Most merchants strive to win over repeat business . However, getting repeat business is no easy task. Merchants can rely on their eCommerce operations to provide them with information about why customers are shopping with them and what they need, but retailers still need to put the data into action if they want to encourage people to take specific actions. Merchants need to use this data to their advantage in order to offer relevant suggestions to customers.

“For example, a consumer visiting a specific product or product category is likely looking to purchase a certain item, whereas a consumer searching for sale items is likely looking for good deals,” Practical eCommerce explained. “In both cases, visitors’ preferences and their purchase histories can be used to personalize the experience and target them with the right promotions to increase sales.”

Leveraging merchandising to bring customers back for more

Once retailers have come to grips with the data and information they have on their prospects, they can begin using merchandising aggressively to get people back to the online or offline store and making purchases.

Merchants have a lot of options for utilizing their inventory to score repeat business. For example, a retailer could offer different item collections for limited times and promote these collections to people who have purchased similar items in the past.

A retailer could offer different item collections for limited times and promote these collections to people who have purchased similar items in the past.

Retailers could also consider the up-sell or add-on route. Once merchants have observed shoppers purchasing one specific item, they can try to sell additional items or try to up-sell them on a higher value product. For example, if someone buys a pillow, they may also be interested in bedsheets, pillow covers, comforters and other similar items.

In some instances, retailers could even try giving away free items to spur repeat business. The goal is getting people back into the store and shopping, so while merchants may take a loss on the free item, they may make even more by selling additional items.

Repeat business is something that every company should aim to achieve. With the right data and appropriate inventory management strategies, retailers can go a long way in encouraging customers to make more purchases.

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