How to Maximize your Ecommerce Profitability

• Focus on profitability, not popularity. Find out the three significant problems created by showing the same popular products to everyone. Instead, prioritize products based on what’s right for each unique customer and what maximizes profits.
• Personalize the customer experience. Why does this matter? Because according to research, “71% of customers expect one-to-one personalization” McKinsey. But what about the large percentage of customers who don’t authenticate when making a purchase? The thing is, you already have what you need.
• Automate your ecommerce platform. With artificial intelligence you can free up merchandisers by reducing the number of merchandising rules by 90% while increasing the profit margin at the same time. This enables your merchandising team to make data-driven decisions — so they can focus on more strategic issues.
• Ask crucial questions to your ecommerce search and recommendations vendor so you can evaluate all of the options on the market and find the right choice for your business.

In the face of rising customer acquisition costs, increases in product returns, and rapid markdowns, the ability to pivot is paramount. This is why the right technology can be what breaks your store — or elevates it into an amazing digital experience that provides tailored options for customers on a one-to-one level. That also takes profitability into account.

Find all the details on how to unlock your ecommerce profitability!