Category: Product Tracking

GTINs: How important are they to your products?

Arguably one of the most talked about (and agonised over!) features these last few years, GTINs have become an integral part of Google Shopping and – by extension – buying and selling everywhere on the digital shelf.

But despite being a headache for most online retailers, GTINs are also hugely beneficial if you want to see better results from your shopping ads.

In this article, we explore the importance of GTINs and show you how to use them correctly when managing your product catalogue.

Product information management: A definitive guide

If you’re a business that sells a lot of different products – especially on the digital shelf – then it must get overwhelming managing them all.

Don’t worry, we understand.

But how exactly can you ensure both consistent quality and service when there are so many loose ends floating around?

Well, a product information management system is one way to keep tabs on everything you do online marketing-wise – as well as how well certain products and channels are performing.

In this article, we explain why product information management is so important to growing your ecommerce business.

How to measure price elasticity and maximise profit

Stock, stock, stock – sometimes it can feel never-ending!

Whether you have a physical retail space with plenty of room to store items out back or you’re trading exclusively on the digital shelf, managing stock levels – and how much you sell them for – is essential.

Price elasticity of demand plays an important role in helping companies make important gains as they retail their goods/services. But what exactly does this mean? And more crucially, how can you use price elasticity to your competitive business advantage?

In this article, we explore price elasticity and discover ways it could benefit your brand on- and offline.

What is catalogue management?

Whether you’re Pepsi pleading your case over a Harrier jet or an excited supermarket looking to push Christmas goods, there’s no getting around the fact that catalogues come in handy.

But what if you operate as an ecommerce brand on the digital shelf?

To companies trading online, catalogue management is an important part of business success. In fact, it may be even more crucial than if you own a brick and mortar store!

Effective catalogue management allows you to expand your product line, engage proactively with customers and organise inventory in a much more efficient way.

In this article, we look at catalogue management for ecommerce brands, and explain how to better manage online product catalogues so you can sway shoppers from your competition.

What are inelastic products?

Ever wanted a product so much you paid above and beyond for it?

Would you still have bought that product if the price had gone up by, say, 100%?

When it comes to buying from the digital shelf or brick and mortar stores, price has an undeniable influence on customers’ decisions. If a product is too expensive, they simply won’t pay for it; too little and it could look cheap!

Balancing price elasticity and inelastic demand is crucial if you want your business to succeed. But what are inelastic products, exactly? And why do they have so much appeal?

In this article, we investigate the phenomenon of inelastic products, including why they should matter to brands and how they could help your business grow.

Why is average unit retail (AUR) important?

Every business currently trading should have a good idea of how they’re doing as far as sales go.

They should also be keeping a watchful eye on their inventory. Is there enough stock to satisfy customer demand? And if not, how can this be fixed?

Average unit retail (AUR) helps businesses know where to focus their sales efforts, whether they’re operating from a brick-and-mortar location or across the vastness of the digital shelf.

In this article, we explain exactly what AUR is, why it’s so important, and how you can use it to help improve your business’s sales.

How to minimise checkout abandonment

Imagine a shopper has had their eye on one of your products for a really long time. They’ve done all their research, ticked everything off their own internal checklist – they’re ready to go.

Now imagine, for some reason or another, they won’t convert. Can’t bring themselves to do it.

Eventually, they abandon their cart altogether, leaving you (once again!) without a sale.

Checkout abandonment is a common occurrence on the digital shelf, mainly because of the choice customers have nowadays. How are you going to create a sense of certainty with a purchase when they’ve got all this competition staring them in the face?

In this article, we explore what causes checkout abandonment and how you can prevent it from harming your business’s bottom line.

What is product cannibalisation?

As a thriving business, launching products is always an exciting time.

You’ve got the initial anticipation, then the launch date itself, and finally (hopefully) the inflated sales figures that follow.

But some companies experience negative consequences on the digital shelf after releasing the brand-new product they’ve worked so hard to perfect; instead of attracting customers from other brands, they end up stealing sales from themselves. This can be explained through one increasingly common phenomenon: product cannibalisation.

In this article, we look at product cannibalisation in detail, covering what it is, the potential causes and impact, as well as tips on how to avoid making the same mistakes as other businesses.