Retail and eCommerce highlights this week include: Intellimize a marketing intelligent personalisation and website optimisation company expands its eCommerce capabilities with real time revenue attribution and optimisation. Research survey findings from Mitto highlights omnichannel communications support in eCommerce. Searchspring launches Searchspring Live Indexing. Flowspace partnership supports fulfilment for eCommerce marketplace sellers across Mirakl’s client set. Bold Commerce and Citcon integration enables sellers to conduct global commerce at scale.
Intellimize provides frictionless eCommerce experiences for growing brands
Intellimize, a marketing intelligent website conversion and dynamic personalisation platform has launched real-time revenue attribution and optimisation for its eCommerce solution. The platform aims to make good on the company’s commitment to make every ad dollar count.
Intellimize eCommerce customers can now optimise the customer experiences that grow revenue faster. The latest release enables users to improve ROAS by optimising toward a revenue goal. It also quickly identifies the revenue channels, audiences and website content that would most benefit from new personalisation. Ecommerce conversion rates continue to fall in the US, averaging 1.53% as of February 2022. Intellimize is committed and poised to reverse this trend.
By creating a frictionless buying experience from product view to purchase, Intellimize enables eCommerce customers to personalise positive shopping experiences that turn casual browsers into repeat customers.
Two-Thirds of Gen Z favour text messaging over email during eCommerce interactions
Mitto, a provider of global omnichannel communications solutions has published the results of a survey that explored consumer behaviours and communication preferences when interacting with ecommerce brands. The survey revealed that 90% of consumers find it important for brands to interact with them on their preferred channels. Whether that is SMS, social media or chat apps.
As eCommerce brands work to meet consumers’ mobile commerce and payments demands, the research shows they can benefit from integrating fintech solutions and an omnichannel strategy that enables immediate and seamless interactions on a variety of communication channels.
Mitto found that the type of interaction the customer is having with a brand influences the preferred communications channel. For quick questions or confirmations, including two-factor authentication (2FA), 46% of survey respondents favoured text messaging over email. This number was even higher when looking at Generation Z and Millennials as more than two-thirds preferred SMS.
The option for real-time payments is important to more than 40% of consumers. Similarly, third-party integration within payment platforms, including PayPal or Apple Pay, is vital as this made it more likely that 41% of consumers would make a purchase. But these payments need to be immediate and secure, which brands can facilitate via SMS and other digital channels.
Speed is especially critical when it comes to 2FA as 58% of consumers expect a 2FA text message immediately. If they have to wait to receive this, 41% would consider abandoning their purchase. 86% of individuals would prefer that brands confirm their identities for large purchases. Furthermore, 47% wanting confirmation for all purchases greater than $200. More than half believe SMS is the best way to communicate during these confirmation exchanges.
As the level of eCommerce continues to increase, pay-by-link options remain an untapped market as less than half of respondents have used this method, but those who have reported it to be both quick and easy. SMS is the preferred channel for pay-by-link payments with 30% favouring this over email due to faster response times. This was a priority for 27% of all respondents and almost 70% of Generation Z and Millennials. The research findings are based on a Pollfish survey of 1,000 Americans. The survey ran in May 2022.
Searchspring launches new product live indexing solution
Searchspring, a provider of site search, product merchandising and eCommerce personalisation has launched Searchspring Live Indexing. The solution quickly presents accurate data to shoppers, improves the shopper experience, and creates lasting customer loyalty. The company says Searchspring Live Indexing automatically makes changes to products in minutes. This means merchants can present the right shoppers with the right products at the right time.
Ecommerce retailers add to and edit their product catalogues frequently. As a result, these catalogues are frequently out-of-date, causing headaches for merchants and shoppers alike. Dozens of merchants are already using Searchspring Live Indexing to overcome this challenge to drive a better experience than traditional database indexing.
Product information, including out-of-stocks, pricing, and details such as color and sizing, is kept up-to-date. This is especially critical during high-volume shopping periods like flash sales or Black Friday, and eliminates surprises for shoppers. Furthermore, Internal teams can work together quickly and effectively, as price, inventory, and merchandising changes are reflected in minutes.
Searchspring Live Indexing is immediately available for customers on the Shopify platform. It will be rolled out across additional eCommerce platforms throughout this year.
Flowspace named US fulfilment partner for Mirakl-powered marketplaces
Flowspace, the software platform powering independent ecommerce fulfilment, announced today that it has been named an official fulfilment partner supporting Mirakl-powered marketplaces nationwide.
The partnership allows marketplace sellers on the Mirakl Connect platform to access Flowspace’s suite of software, including OmniFlow Visibility Suite and Inventory Flow, which provide real-time visibility into inventory and orders, and its flexible Fulfilment Network, to ensure prompt, reliable fulfilment profitably and at scale.
Flowspace’s partnership with Mirakl follows the Paris and Boston-based company’s recent $555M fundraise at an over $3.5B valuation, and its announcement that it has exceeded $100 million in annual recurring revenue, with more than $4.3B transacted on Mirakl-powered marketplaces in 2021.
US retail ecommerce sales alone are predicted to top $1 trillion this year, and both digitally native and established brands are scaling omnichannel operations as they seek profitable growth amid increased competition and rising customer acquisition costs. Marketplaces offer an opportunity for brands to attract and engage more buyers, increase operational agility, and grow faster and more profitably.
Flowspace software, embedded within strategically located fulfilment centers nationwide, enables fast, affordable, omnichannel fulfilment for brands selling on marketplaces powered by Mirakl, as well as virtually anywhere online, with integrations to every major shopping cart and sales channel.
For every $100 spent online, brands spend $20 on fulfilment and logistics to get the product to the end customer, per McKinsey. Flowspace’s flexible network, omnichannel integrations and centralized dashboard equip brands with the tools they need to provide the fast, affordable shipping customers demand, wherever they shop online.
Worldwide, Mirakl’s technology powers more than 300 marketplaces in more than 40 countries, helping companies transform to platform businesses. Mirakl-powered Marketplaces include Belk, The Kroger Co., Madewell, and more.
Citcon and Bold Commerce open-up 150 digital wallets for retailers and DTC
Citcon, a mobile wallet payment provider enabling global commerce has integrated its unified payments API into the Bold Commerce. Bold Commerce provides headless checkout experience solutions. The Citcon and Bold Commerce solution enables retailers and DTC brands to accept and process more than 150 payment methods. This includes popular digital wallets, local payment schemes, and credit cards preferred by overseas customers through one integration.
According to the Bold Commerce Checkout Benchmark report, more than half (53%) of shoppers who proceed to checkout, abandon the process before completing their purchase. In Asia Pacific eCommerce market, carts are often abandoned during checkout when customers can’t utilise their preferred local payment method. Prioritising the checkout experience, which includes providing easy access to preferred payment methods, can dramatically decrease cart abandonment issues. This drives greater revenues and improved customer experience.
The Citcon full-stack payments solution encompasses payment processing and gateway services. As well as reporting and fund settlement all through a single API integration. Integrating this capability into Bold Commerce checkout platform enables merchants to serve overseas markets from Asia Pacific to Latin America. In addition to domestic consumers who use these payment methods, to accept and process transactions seamlessly and securely.