How are multi-device eCommerce sales evolving?

19/12/2019

Angela de la Vieja

Online sales already comprise a large percentage of the purchases made in our day to day. This is an inescapable reality. Marketplaces, eCommerce businesses, and brands that sell directly through the web have doubled their efforts to make this a much stronger sales channel, taking a decisive step towards understanding the purchases of tomorrow, which isn’t very far away at all.

To this mass of purchases, we must add the remaining factors surrounding online stores and digital businesses. The fact is that factors like the device being used play a fundamental role in choosing a responsive design that is attractive to the user – and even come into play when choosing promotions.

The reality of eCommerce businesses is now multi-device, so when the time to do all of your sales and strategy planning arrives, you’ll need to consider all of the aspects that being multi-device entails. According to different studies, there’s some illuminating data about the multi-device paradigm within digital sales.

For example, mobile sales now account for almost half of the purchases made online, overcoming the barrier predicted by studies such as the 2017 Ditrendia report. According to the same study, at that time, 10% of buyers already used up to three devices to carry out their purchases (smartphone, tablet, and PC).

In Spain, smartphone penetration is at nearly 95%, one of the highest percentages in the world with more than one phone per adult. In addition, 85% of people admitted to using distinct devices to carry out their purchases (even if it was in a unique way each time). Even though the year hasn’t ended yet, the figure for multi-device sales will be at least 75% on mobile, according to IAB Spain’s annual study.

Where does the need to use more than one device come from?

According to Google with respect to the micro-moments through which a digital user passes, when users use their smartphone to carry out a search, they’re 51% more likely to complete a purchase. This, a priori, is too important of a piece of data to ignore. But we mustn’t lose sight of the three scenarios in which the multi-device capacity can insert itself as a decisive factor:

The mobile as a tool for direct purchasing
The smartphone as a pathway to the completion of the purchase on a PC
Online consultation from any of the above before completing the purchase in a physical store

All of these possibilities combine themselves with the continually growing use of portable devices whose instant search component (who doesn’t carry their mobile phone with them at all times?) simply can’t compete with the static nature of a computer when it comes to use.

The opinions of other users, reviews, alternate purchases, online price comparison, and feature searches are the most frequent queries carried out that are directly related to the multi-device purchases initiated on the mobile phone.

How to take advantage of multi-device sales

The use of multiple devices when consulting information about a business and to complete a purchase has a clear advantage for digital businesses: user traceability. Now that we’re increasingly connected, we use applications for everything and these, in addition, connect to each other. For marketing strategies, this is the closest thing to the philosopher’s stone ever encountered, which comes closely followed by experts in new techniques like big data.

Thanks to this technological development, it’s possible to pinpoint the interests of a user based on their searches, the places they visit (online and in-person, thanks to geolocation), and even the profiles that they follow on social networks.

Within the multi-device reality, this capacity to obtain and manage data does nothing but increase. The connection is much broader, lasts longer over time, and, above all, is personalised. Purchases that begin on the mobile phone and that are finalised on the computer, shopping carts that are abandoned and that are later recovered through an email… the options are infinite. That makes it necessary to create patterns that help each business understand their options in order to offer users the products they need in a manner that’s continually more accurate, arriving at the most opportune moment for purchase.

11/11/2022

Consumer behavior: How can behavior tracking be effective for setting the right pricing strategies?

Behavior tracking is becoming massively popular today. As a result, pricing strategies born from studying consumer behavior are a merchant's dream come true. If done right, it can conquer every market for the business quickly. With abundant data available, the strategic makeover of the pricing models is becoming easy for companies.

What is behavioral tracking, and how is the data beneficial in pricing?

For a quick understanding, behavioral tracking refers to gaining in-depth knowledge and insights into consumers through their web data. Their browsing habits, spontaneous decisions, shopping interests, and preferences come under behavioral tracking.

How can enterprises use customer behavior data?

Companies can use customer behavior data as a tool to strengthen their hold on the market. A customer’s preferences, values, and tendencies allow businesses to work in sync with them through the collected data. Apart from this, customer behavior can also aid in:

Tailoring customer needs for customer retention

Personalization is becoming the heart of a company’s growth. No matter in which area an enterprise is functioning, tailoring the services, products, and solutions is becoming increasingly crucial. Uniqueness and personalization attract the crowd like no other.

Increasing the overall value

One of the best ways customer behavior data affects a business is by upgrading the value of customers for the business. The customer’s characteristics allow the company to target the people that match the business prospects well.

Optimizing every type of content

Everything that is up for digital display requires content. You must have seen companies unveiling their products or services through advertisements and making the initial public appearance. Two essential sales strategies – upselling and cross-selling comes through content optimization.

Pricing Strategy

Last but certainly not least is the influence of customer behavior data on the pricing strategy. The pricing strategy essentially constitutes content derived from data analysis. Companies need to have a dynamic approach to the pricing system to attract the right customers.

17/02/2015

Saint Valentine’s Day, always a good opportunity

V-Day is looming, a long-awaited date for all and also a good occasion for the eCommerce. According the study conducted by Prosper Insights and Analytics, it is forecasted the average consumer expense that day will be the highest in last years. Furthermore, 25% of them will buy online, which means an increase of 4% regarding 2014 (The US department of Commerce). This is, therefore, a key date where market competitiveness increase and which could be assumed as a big opportunity for our business or, a big fail if we do not adopt the correct strategies.

How to turn this event into an opportunity? To achieve this goal, we need to adapt our prices to this hostile environment, i.e. we need to develop an appropriate Dynamic Pricing strategy that allows us to adapt our prices to the variations produced in supply and demand and to position us ahead of our competitors. In V-Day, the frequency in changes will be higher, carrying it out each hour or even each minute. It is estimated that 65% of leader retailers have the ability to respond quickly at these variations, such Amazon. For this reason, it acquires great importance the correct use of a software specialised in price motorisation of competitors. Do not miss the time and adapt your business to new adversities.

28/12/2022

Which are the best footwear marketplaces to sell on?

Footwear marketplaces are booming. The last decade has seen the launch of new specialized marketplaces with millions of different users. Among them are Spartoo, Sarenza and Farfetch, portals with international reach. Their main value is that they unite hundreds of footwear brands, as well as offering clothes and accessories. Although each has its own characteristics, they are all vertical marketplaces, i.e., they focus on a specific area, and their sales categories are interrelated. For sellers, these portals provide an opportunity to expand sales channels and drive the globalization of their e-commerce business. We explain how to sell on these footwear marketplaces so that you can assess whether they align with your plans for the future and then start defining a possible pricing strategy.