E-commerce: Conversion Rate Optimisation
Apply predictive analytics to increase conversion rates and gross purchases
Predict revenue and conversion rate for each product.
+ Increase overall conversion rate across product assortment
+ Determine the highest price for each product
+ Increase revenue
Having a large assortment of products is great to offer customers, though managing a huge catalogue is hard without the right tools.
Often, category pages are filled with SKUs with lower conversion rates while the potentially high sellers don’t get any views. This problem gets multiplied when product prices don’t match customer demands. The key is figuring out how much and how fast each product should be selling and then reorganising category pages taking this data into account.
With Arch’s cloud based predictive analytics, merchandising team gets detailed view into how each product is performing and take action to promote potential top sellers to make them real top sellers. The result: higher conversion rates across the assortment and more revenue for the company.
+ Increased conversion rates by algorithmically finding out potential top sellers and promoting them.
+ Increased revenue per vender manager by giving them the tools to manage their assortment.
+ Decreased stockout of high selling products.