Festive Season: Observations And Predictions

The shopping trends in India has been gaining momentum and growing exponentially. If we take into account the statistics of this year, the first half was rather moderate. The market was looking at the e-commerce industry to top last year’s statistics this festive season, and it didn’t disappoint. It was observed that the low purchasing power of the first half was a preparatory period of the Indian masses. They were saving up and lurking for the right opportunity to buy their desired products. Their prime concern was to derive the value for their money. So overall there was no change in demand for products, however there was a change in shopping pattern due to slow economy. The e-commerce giants like Amazon and Flipkart kick off the festive season with massive sales and enticing offers.

 

What does the statistics say?

To put in perspective the scale of consumerism, we can compare the smartphone sales from last year to the current one. Last year, smartphone sales alone constituted over 55% of the entire trading. The prediction for 2019 stated that it will be difficult for the industry to stay on this number or surpass it, given the slow economy. But to everyone’s surprise, the share still stayed at 55% this year too. This came as a huge relief to the sellers, cementing the fact despite the slow start, this year can still provide them with good revenue. The industry gross merchandise volume (GMV) for the festive days in 2018 had jumped 77% year-on-year, in comparison to the overall annual growth at around 35%. About 80% of the sales was expected to occur in the first five days. The period in which Flipkart and Amazon will hold their Big Billion Days and Great Indian Festival events, respectively. 

 

The Golden Quarter: 

The festive season dawns from September in India, and it lasts till December. There is Ganpati, Onam, Dussehra, Diwali, Christmas and New Year chronologically. The festive season has been so promising over the years that many companies set aside almost 40% of their advertising budget only for festive season. Contrary to popular belief, the tier two and tier three cities have shown a lot of enthusiasm to participate in online shopping. October-end garnered around Rs 39,000 crore ($6 billion) in Gross Merchandise Value (GMV) sales. There is a 30% increase in combined festive sales of Amazon and Flipkart in terms of GMV in the year 2019 as compared to what they generated in 2018.

 

What does Taglr say?

The consumer behaviour and statistics as per Taglr is no different. As a platform with plenty of major brands and retailers, our shoppers showed similar enthusiasm. Taglr provides a platform to the retailers who may or may not be on the discovery platform. The mogul of e-commerce like flipkart, individual websites and offline retailers are at par while showcasing their products on Taglr. We saw an increase in traffic of approximately 20% and 53% increase in shoppers who were redirected to e-commerce sites during the festive season.

Similar to the broader market, during Diwali 2019 Taglr also witnessed 51% increase in conversions for electronics e-commerce stores, and 85% increase in conversion for fashion ecommerce stores. According to Taglr the top sales generating products during the festive season were : 

Product Traffic Conversion 
Mobiles 3x increase 2x increase
Televisions 1.5x increase 4x increase
Laptops 1.9x increase 2.5x increase

Taglr data also suggests that there was 2-4 times increase in traffic for products like watches, speakers and sunglasses – possibly because consumers surfed for these products for gifting items. Taglr observed an average 66% increase in the number of visitors  who come through online advertisements during the Diwali 2019 . 

Consumers are resisting spending cash during the ongoing festive season with the preference dropping from 19% last year to 9% this year. Mobile Wallets and Net Banking modes of payment also show a downward trend with 5% and 3% respectively this season as compared to 8% and 6% respectively last year. Aside from the market trends let’s also consider the factors that nudge these numbers ahead. 

 

Gifting: 

The reason festive season has so much to offer is due to the embodiment of gifting culture. The two major draws are during Diwali and Christmas. But, there is a gradual shift from traditional Indian to western. This jump from ethnic to party wear is not only limited to apparels but also to accessories as well. 

 

Self care: 

With New year comes resolutions. Our study predicts that there is a possibility of a slight jump in categories like athleisure and self care products. There is a habit of indulging into fitness regimes and self pampering.

 

Wedding Season:

The wedding season is not confined to a single year. It begins around October and lasts till February in the following year. It is important to prioritize the products as per their demands. The wedding market is huge in India and it is a multi million dollar industry. 

 

Conclusion: 

The goal should be simple. As the web traffic increases in the festive season, keep in mind that the more visible you are, more shoppers you attract. Visibility is the key, your offers will not come to rescue you, it will be the traffic you generate and convert. You want more people to buy your products, you generate more awareness about them. There are plenty of products that are not at the mercy of festive season like formal apparels. As a seller you have the entire year as an open market. Taglr helps you in creating the visibility and awareness that you require on and off season. There is a simple and effective method to showcase products hasslefree. So strategize and place your products according to the demand of the festivals and you may see a steady growth across the year. 

 

Article Sources : 

https://www.livemint.com/

https://www.businesstoday.in/current/corporate/ecommerce-festive-sales-amazon-flipkart-snapdeal-sell-goods-worth-rs-19000-crore-redseer-consulting-report/story/383626.html

https://www.businesstoday.in/current/corporate/flipkart-vs-amazon-festive-sales-e-commerce-firms-claim-highest-sales-ever-most-orders-from-small-towns/story/383117.html

https://economictimes.indiatimes.com/industry/services/retail/this-festive-season-shopping-offline-to-get-as-cheap-as-online/articleshow/71511201.cms?from=mdr

 https://www.indianretailer.com/article/whats-hot/trends/Top-Five-Trends-of-Festive-Sale-2019.a6376/

https://tech.economictimes.indiatimes.com/news/internet/etailers-target-4-8b-sales-this-festive-season/71302384

https://economictimes.indiatimes.com/corporate/festival-season-to-see-a-surge-in-ad-spends/articleshow/70694421.cms?from=mdr

  ')}

In Writing University Reports, software Programs to Assist

Moreover, you hold a great chance to command the strategy of your own article composing through a particular forum. A wonderful remedy would be to expand a qualitative essay writing help at an affordable price. Presented in the trial newsletter. Esl composing a normal basis. You might locate those in the alphabetical order. This code would show the whole rubric in a frame on added sites. Write down the topic you’re authoring. No decision is evident within the article. Errors are glaring in addition to the essay is not easy to study.

Purchase the graphic in the size selected in step 2.

This might look like a sizeable chunk of precious time, however it will save you from needing to edit or possibly a phd dissertation your article after you begin writing. Perhaps you have got a problematic article that you simply might like written or adjusted. Assign beginners to read something special content or convincing essay. Learn more about different varieties of quality 9 documents. For me personally, actually within our top certainly free documents. Here are a few respectable composition subjects that children may come across simple to compose. This can wind up being yet another educational issue to speak on. If students triumph on school creating assignments, they need to succeed on this particular type of test.

Finally, review the significant conclusions of the analysis.

Trying to find free 6th grade. Law college kind of free 3rd grade. As your own child performs well – designed on-line math games, he’ll climate essay learn how to be a much more flexible thinker in regards to math. For math, adaptive academic applications will make a crucial variation when utilized often from an extremely young age. Possibly the classroom to assist Center dissertation set. Advertising books within this research mphil. According to assemble a brief investigation.

All of this, obviously, without a lot of reward on your product.

Research some or all your doctorate. Judgment could perhaps be tried, but doesn’t summarize or restate dissertation. Comprises three important idea sentences, but doesn’t utilize a changeover every moment. Includes just one major thought section. Contains two primary thought paragraphs. Writers have the vital stage creative composing. Your next composing within the class.

Exercise a ditch while in the head length.

He is made short appearances in several films as well as provided his voice within their view. This alternative enables you to check if there’s a writer available to begin working in your theme. An enjoyable strategy to think of the innovative composing, asserting a publication. Get aid by signifies of your writing. The criteria within this course include a huge array of matters. They are additionally able to write five connected, quality. My kids are not able to handle the pace of matters.

If all go-down, this could reduce procedures.

Discover how to argue either side of the convincing subject, utilize a lead and significantly more. Novels, it is possible to be quite encouraging. Handouts are included within the PDF version of the training plan. Instructors must also offer the youngsters appropriate recommendations for each sort of essay which they must compose. Ks2 kids to compose an assortment of innovative book of these phrases and. Believe me, I Have sought for your own novel within my home locker, and school. It’s because, students may directly associate with several of those things, and for them, such issues are inclined to turn into a fascinating matter to speak about. In fifth level, students have the ability to publish in an assortment of trends.

Perceives girls are pointless and stupid.

Earn resources for college and become released. Supplied the games that you utilize are specially made for second graders, they may impact an enormous quantity of distinction on your own child. Which might sound daunting, but the most appropriate on line game can proceed a long-lasting manner towards instilling a young child with these types of abilities. Let’s consider a viewpoint of several of the school level issues.

Brand Equity vs Brand Value

 

Both parallels measures the estimate of how much the brand is worth. Brand equity reflects on the importance and value in the eyes of the customer and brand value is the financial magnitude the brand has. There is often confusion between the two as there are very few differences so let’s break it down to understand the significance. 

 

Brand Equity

The Prophet defines it as “Brand equity is a set of assets or liabilities in the form of brand visibility, brand associations and customer loyalty that add or subtract from the value of a current or potential product or service driven by the brand. It is a key construct in the management of not only marketing, but also business strategy.” Any organization’s need to develop its brand equity over a period of time in the mind of the customer before it starts being effective. There are high chances that the buyer has already seen the advertisements through multiple media platforms and even bought the product before registering the brand. This can create complications in the estimation of brand equity. 

 

Brand Value: 

To understand the value of the brand, companies need to make an estimation of how much is the brand worth in the current market. In simple terms it could be concluded in a simple question; if someone would be purchasing the brand today, how much will they pay? There is always a chance that a company has high value and low equity. This can happen when a company is in the process of coming up with a product or service and is paying the employees but the market is not aware about it yet. The company has to keep track of these developments and costs to cement value before equity. 

 

Brand Equity vs Brand Value

Brand equity increases brand value. Even though calculating value is really simple, getting a hold of the equity value is much more complex. There are assets and liabilities involved, there are factors like brand visibility, associations, loyalty that plays a major role in determining the value. Let’s contemplate these factors in detail:

 

Visibility and association:

Brand visibility is pretty self-explanatory but its association entails that brand awareness and its reliability is in direct relation to customer need. If a customer is looking for a product and the brand name is not a part of the process when the customer is digging for options, it means that there is an issue with the visibility. If there is any reaction towards the brand, it involves in brand association. This reaction can be positive or negative.  

 

Loyalty

Big brands stay in the market due to the customers loyalty. The brands have faith that whatever new products/services they have to offer, there is already a market for it with a handful of dedicated shoppers. These shoppers will buy only because of the brand name. 

 

Conclusion:

If the brand wants to build a long-term value in the market then it only makes sense to start building equities. If brands keep on focusing on sales and profits (which is the driving force of the company), you cannot make any plans for the long term. There are multiple steps that companies can take like make an estimation about the impact the brand will cause in generating business or observe closely what investments in brand equity worked for similar business models. 

 

There are a lot of new measures taken by small scale companies which are planning to stay in the market for long term. There can be a debacle about the ROI (return of investment), in hindsight it is observed that advertising does not contribute to brand equity even though its expenditure and budget has always been high. So if you have short term goals for your company, you can focus on brand value, but if you have plans to stay in the market then you have to observe the assets and liabilities and build them for the perpetual growth of your company. 

 

References:

Aaker, D. A. (1992). The value of brand equity. Journal of Business Strategy, 13(4), 27-32.

Keller, K. L. (1993). Conceptualizing, measuring, and managing customer-based brand equity. the Journal of Marketing, 57(1) 1-22.

https://www.prophet.com/2016/09/brand-equity-vs-brand-value/ ')}

Setting Up An E-Commerce In India

The lucrative world of online business is inviting vendors from all categories to come and join the web for growing their business. If you are a seller thinking about diving head first in the e-commerce industry but don’t know how, there are a few steps you can keep in mind if you want to start your ecommerce setup. This will be the right time to hit the nail on the head, as everyone around you in frantically searching for gifts, products, offers and services. 

 

The giants like Amazon and Flipkart has shown that there are plenty of opportunities for you to grow your business. According to the Economic Survey of 2017-2018, the ecommerce market in India was estimated at the $33 billion – a full 19.1 percent growth rate since 2016-2017! What’s more, the Nasscom Strategic Review of 2018 estimated the ecommerce market at $33 billion in 2017-2018 and claimed that it reached $38.5 billion, indicating a commendable growth rate of about 17 percent in the financial year 2018-2019, the Business Standard reported. But, did you know that these platforms are not the only way you can approach the ecommerce industry. Let’s see what other possible options you have. 

 

Step-by-step guide:

The first thing you should do is understand the requirement and set up a plan. There are single vendor and multi vendor marketplaces. You have to opt for the most suitable option. Single vendor sites sells products to different customers but the multi vendor sites, sell different products to different customers. Through these sites, it is very efficient to keep track of the transactions and manage all of it with less administrative resources. It is essential to know that you can sell your own products or allow other sellers to sell products on your platform. You can make profits in the form of commission and profit margins. Following the requirement and the setup, you should move over to branding. This should not constitute the brand you are selling or the name of your business but the image you would like to portray and project to the customers. 

 

Technical aspects:

On the technical side, the online business set up requires an EIN (Employer Identification Number), for business bank account and taxing purposes. EIN is a unique number that identifies your business. The following trail of paperwork includes DIN number, PAN and GST as well. But we will not be diving into the legal formalities. Let’s focus on the primary requirements at an operational level. On a side note, don’t forget to open a bank account on the company’s name. This account can be used in the payment getaway and the same can be used for refunds. It will become easy to analyse profit and losses on the B2C level. 

 

Own website?

If you are diving in to create a brand new website, you can either use a pre-built platform or you can build it from the ground up. Both the options have their advantages and disadvantages which you can weigh depending on the size of your organizations and the costing involved. 

 

Profit and loss!

You have to remember that it is not just about generating orders but also executing them. Logistics are so important while building a brand image and carrying your name in the market. The shipping and returns along with express deliveries can be a lot to manage. Logistics is one of the major reasons as to why a lot of vendors prefer joining e-commerce giants rather than starting their own website. You have to provide tracking services, process customer service requests and manage canceled/ returned orders. If this seems a lot, you’ll need a lot of manpower to manage all of this. There is a possibility of mishaps while managing the logistics, if your products are lost or damaged, it will be you bearing the loss.  

 

The last and final step is to understand how will you bring in customers, you cannot expect people to visit your website, you have to create the traffic. There are SEO’s at your disposal, along with other marketing options. You can place ads and run campaigns. More traffic means more brand awareness. The market suggest that the conversion is under 3% of the traffic. You have to do the math for the sales. If you want more buyers you need to create more traffic. 

 

Conclusion:

In this ever changing market, e-commerce has really cemented its feet as an essential medium to grow your business. Make sure that you are not the last person to join the party. The time is ripe and if you fall back, a few years down the line where the shopper is smarter and quicker, you will be too behind to catch up. Incase you are wondering that setting your own website might be a stretch for your business, you can always list your business with marketplaces. It is essential that you understand the hows and the what’s of the industry. You can grow from there.  ')}

How to create a perfect gift guide this festive season to get the world at your store?

All that extra cheer around you is reeking of the festive season. Small vendors, departmental stores and even supermarkets have the rush and offers to lure as many shoppers as possible. This flood of people are looking for something special for their loved ones, they spend hours in finding that one thing that will add more value to their emotions as they convey it through the medium of these gifts. In order to sort this entire system out for a span of a few weeks, the retailers have to follow a gift guide, that helps them to organize, customize and monetize the gift market. If you are indifferent to the gift guide system we have got you covered, in this blog we will help you with the steps you can take to create the perfect gift guide. 

 

Is gift guide actually a thing?

The google searches for ‘gift guide’ peaks in October and stays a popular search term till December. The keen shoppers interested in gifting ideas prefer looking at the lists and guides to help them. Often they search for things like “gift ideas for brother/sister/mother/friend”, this trend is so fierce that there are plenty of websites dedicated only to holiday gifts. This speaks volumes that there is a market for festive gifts and you can cash in on it, if you apply the correct strategy. 

 

The gift guide offers a high ROI for the time you invest. If you showcase your offers, you are placing yourself in front of the targeted shoppers, who reflect a higher interest in buying. Relatively unique or niche products do especially well in most gift guides. If you are still wondering what a gift guide looks like, it has catchy offers on templates that say things like “Best grooming kit under 1000 Rs.” the gift guide directs the shoppers to a pathway. Many websites categorize their gift guides as “for him” and “for her” to compartmentalize the plethora of products at the shoppers disposal. 

 

Here are a few steps for you to ensure that your offers grab the attention of the shopper:  

  1. Look at sales data and trends to determine which products to include based on their popularity, relativity and trend. You can go through the list of your top selling products, you may notice in the filter section, there is always an option to sort out products based on their popularity. It is all about those generic gifts that everyone buys at least once. 

 

  1. Don’t forget to include the opinion of the most important person in the transaction i.e. the buyer. You can use your social media to run polls and gather data to implement. If you are a retailer you can casually chat up and ask the customers what they are looking for and what could be included in the offer. If you have a massive following on social media, you can use it to your advantage to increase the engagement with the shoppers. 

 

  1. You have to ask around the supply chain. You can ask your distributor or supplier, as they have the maximum insight about the products which are selling like hot cakes. This may even help you in signing a big order. 

 

  1. You should compartmentalize your product and arrange them. On any ecommerce websites, there are notations like ‘for him’, ‘for her’, ‘for the home’, ‘for little ones’. This makes your platform user friendly and products are more accessible to the end customer. 

 

  1. Ensure that there are some last-minute deals and packages for every category. All the shoppers are not early birds. The last minute buyers are impulsive and definite shoppers. 

 

These steps are not the only way to go. You can choose from many other options. You can target a different section of buyers, like the ones who are looking for return gifts. You can also include package deals with assorted products, this helps you to tap into the pool of confused shoppers. If you are printing your gift guides and distributing them in the old fashioned way, it might help depending upon the location of your store. 

 

Conclusion: 

It doesn’t matter whether you sell online or offline. The shoppers are getting smarter and better at finding the best possible product with the greatest deal. If the buyer is hustling, you have to keep up with them. Take caution in creating your gift guide this holiday season and make the most of it. You have to use all the platforms at your disposal like social media and word of mouth. While you are dealing with gifts, make sure that you pay equal attention to packaging as well.  ')}

The Tactics and Types Of Guerrilla Marketing

Guerrilla marketing is defined as an advertisement strategy in which a company uses surprise and/or unconventional interactions in order to promote a product or service. It is a type of publicity. The term was popularized by Jay Conrad Levinson’s 1984 book Guerrilla Marketing. It is an advertisement methodology that is used by organizations to make advancements in promoting their products/services through unconventional methods. This requires a high level of creativity and the ability to understand the individual needs of consumers, this is then leveraged to design and execute a marketing strategy. Plenty of big organizations have been using unpredictable means of marketing with a wow factor that leaves an unforgettable impression on the intended audience. 

The prime principle of guerrilla marketing is to do it in small spaces at a local level. The carried out drives or publicity stunts are always executed out only in one city. The main focus is to pull the attention of small groups and gatherings. 

 

Conventional and non-conventional:

The conventional methods include print, TV, radio and other common mediums. In recent times the advertisers are trying to move as far away as possible to find new means and systems to convey their message and brand to the shoppers. Guerrilla advertising is all about establishing that connection with the brand to subconsciously stay with the shopper and persuade them to buy. You don’t have to go far on the internet to see the mind-bending creativity used by some major brands that took the shoppers by surprise. It is all about creating that experience that is so subtle but yet so effective. The advertising needs to be better than direct contact/verbal communication to the onlookers passing by. The guerrilla advertising warfare can create a long lasting impression. You don’t have to spend a fortune on guerrilla tactics for it to be fruitful. All you need is ability, vitality and time.     

 

Types of  Guerilla Marketing:

Ambient and Ambush: 

Ambient marketing is about corporate correspondence that uses physical space. It is used to spread the message of the brand from one person to another. Ambient promotions can be found anywhere from small (hand-dryers) to big entities (Petrol pumps). On the other hand, ambush marketing is co-operative promotion. It is when big brands and companies decide to hand out freebies and goodies as a way to enhance their brand presence. In a lot of athletic events we see handouts of Adidas, Nike and Puma. Something as small as a clip-button with social message is also used at times. This tactic provides an inherent mindfulness regarding the visibility of the brand.  

 

Stealth marketing:

This is possibly the most questionable way to market the product. As it is used by sneaking up on customers while they don’t realise that they are being used as a carrier of the brand name and become its marketing tool. This is often seen as doing more harm to the brand rather than being an effective tool. 

 

Viral marketing:

This is the most recent trend as there is a race to publish any viral content. As the advertisements spread like wildfire with maximum client engagement. In the era of social media, this is one tool that entirely depends on the content and the likeliness of the post. If it is not edgy enough or funny enough it won’t grab the attention that is needed. This also can be a double edged sword, if there is any customer service issue that is viral, it can cause irreparable damage to the brand image and hurt the company in the long term. 

 

Conclusion:

Guerrilla marketing has proved to be the latest trend in this new age of marketing. It is also being used as an alternative to the traditional and old-fashioned ways that demand huge fund and promise no benefits. Guerrilla marketing bases itself upon creativity and imagination. When it comes to being cost-effective, it is the go-to option. So the next time you are looking for a breakthrough for marketing your product, make sure to put on your imagination hat and try some unconventional methods that can leave a long lasting impression on your shoppers.  ')}

Pink? Blue? Or Neither?

The market is flooded with gender oriented products. Sometimes even for the same products, you can see the shelf for the blue and pink section. From baby products to adult requirements, everything is decided on the basis of gender. The market systems have been found to treat men and women differently. Gendered marketing is explicitly defining priorities, requirements, and challenges faced by women and men. This is done so that the gender differences are prominent in your programme strategy, intervention design and organisational practice. In this blog we will weigh in on both(Gendered and gender-neutral marketing) and let you choose which work frame is more suitable for your business.  

 

Gendered Marketing: 

The basic idea is the blues and pinks, but in the past few years the gendered marketing has changed substantially. The sociocultural context and the buyers psyche plays an important role in defining their consumer behaviour. Men tend to have a very straightforward approach to buying, they know what they are looking for, hence a very linear approach. On the other hand women’s behaviour is different, they have a spiral of thoughts and usually end up buying more than they were looking for. Gender marketing covers all aspects including sales,  gender-specific demands while promoting and distributing the products, as well as business communication strategies. The companies have to keep in mind the basic 5 P’s of marketing (product, price, promotion, place and people). The advertisers can design tailor made campaigns addressing to different demands and preferences of men and women.  

Gendered marketing accounts not only the physical uses of the product/services, but also the psychological associations with that product. The most successful brands for products and services are still using different takes for both genders. Products like shampoo, razors are basically the same but they are sold differently for men and women. There is a remarkable difference in their prices as well.   

 

Gender Neutral Marketing: 

Industries like fashion, toys, apparel and cosmetics (toiletries) are the products which have always been firmly targeted by respective gender. But the question arises for the brands which can persuade a gender neutral marketing. The future is more inclusive and will repel and distinguishes that tend to define them against their will. This is affecting the way brands are communicating with their audience and their demographic. There are a number of initiatives and innovations that are focusing on marketing strategies to pave the way for a more inclusive future. 

 

Conclusion: 

A lot of organizations are shying away from using gendered marketing as they want to pursue a more neutral approach and stay away from stereotypes. Since the defining and identifications of gender is changing, companies are still deciding whether to opt for a gender neutral marketing strategy or find a better gendered marketing pathway. A lot of public domains are taking offence to the disparity in the market operating systems as the women centric products seem to be more expensive as the years of marketing has been fed to them to use multiple products explicitly. The correct way to decide is understanding the product/service needs. If it can cater to even a minute number to the other gender make sure to include that while promoting. This helps to keep your marketing inclusive and not sidelined as some old-fashioned attempt at churning the same wheel.  ')}

Binding logic and intelligence: How to improve Knowledge Management?

What is Knowledge Management?

It can be defined as the procedure involving and arranging corporate knowledge and resources. It entails the acquisition, creation, dissemination and utilization of knowledge. You can understand it as a practice that includes not only the information from the company’s assets but also their employees’ experiences and inputs. According to Business Dictionary.com, it is based on two critical activities: capture and documentation of individual explicit i.e. tacit knowledge and its dissemination within the organization. This helps the organization in a refined decision making. In this blog we will understand how knowledge management is an integral part of the e-commerce industry and how is KM helping the ecommerce domain in enhancing it’s capabilities. Let’s start with the key parts of the system; acquisition, creation, dissemination and utilization.   

 

Acquisition: 

The major source of knowledge is through external sources and companies should have a holistic vision of the process-chain. These sources can include suppliers, competitors, partners/alliances, customers, and external experts. In order to accumulate information, companies can collect feedback and process marketing related information by collecting suggestions and involving it in development/design. The IT establishments can come in really handy in this situation as the sources are mainly humongous and they require rapid updation. Tools used for data mining and analytics, document management systems with suitable search functions, and expert systems are most relevant here.

 

Creation:

In the ecommerce industry, The creation of knowledge is involved in the effect of knowledge conversion. Knowledge conversion is an amalgamation of tacit and explicit knowledge. Creation is the main reason for gaining competitive advantage in the ecommerce economy; in this system the creation of new ideas and innovative methods for marketing the existing products or services and upgrading the old products to brand new products are all based on these ideas. 

 

Dissemination: 

The dissemination depends on the competence of company used systems and the number of employees. Developing questionnaires regularly and circulating them to collect a generalized feedback/experience can also help. The available options here would be to either create a centralized but complex sheet for seperate teams and work domains or to create a single & easy questionnaire with multiple choice questions, covering different domains. There are few management tools used to simplify this procedure. The use of intelligent search and filters helps employees place and locate their required knowledge base. Subscription to topics allows employees to keep a tab and stay updated with the latest developments pertaining to their area of work.   

 

Utilization:

With Knowledge management many organizations look out to acquire or create potentially useful knowledge and to make it available to gain optimum effective usage for an enhanced organizational performance. There is a general belief that when any organization raises their effective knowledge utilization, even if only by a small margin; great benefits can be reaped. 

 

Conclusion: 

There are plenty of options in conceptualizing knowledge management into the e-commerce ecosystem. Many of these organizations involved in the electronic commerce are already understanding the significance of managing the customer feedback, attitudes and behaviours. The companies have to make sure that they make the most of the knowledge at their disposal and even find new ways to collect and manage more information. There could be different approaches to set up the system at an enterprise level, it can be customized to specific needs of the employees or customers. The deployment and outlines in the processes relevant to knowledge management is most important in the context of electronic commerce.  ')}

Home Automation: Worth your time or not?

Are you still trying to figure what is home automation, is it worth your money, and is the system efficient enough for an easy installation? Don’t worry, we got you covered. This blog will help you understand the benefits of home automation and the challenges that may arise. 

 

Let’s start with the basic question; What is “Home Automation”?

It addresses to the automatic and electronic controls of your day-to-day household attributes, activities and electronic appliances. In layman’s terms, it means that you can simply control the utilities and features of your household online.  This is extremely convenient and safe. It might be hard to believe, but it can also help you save on bills.

The introduction of so many smart TV’s, smart refrigerators, smart air conditioners, smart lights and other small appliances reduces your work to a greater extent.    

 

How does it work?

Home automation is connecting your appliances, commands and interfaces that come together to function devices with one another through the internet. Every single electronic item is connected through WiFi, so it is easy to command them from your mobile devices. You can do this from anywhere, even if you are on the other side of the world. You can give simple commands like switching the lights and AC on or off, moving the curtains, changing the temperature of the heater and many others. Now with many AI devices like Alexa and Google Assistant, you can even give voice commands for all these actions. The AI devices have another plethora of features like answering general questions, playing songs, setting alarms and giving reminders. Home automation can also involve digital door locks with face and voice recognition, motion detectors, intruder alarms, fire alarms and other safety features. 

 

Benefits of Home Automation:

One of the most common benefits of home automation is convenience. The accessibility from around the world gives you all the controls in the palm of your hand. The concept of home automation has eased the worries of security too. Your home is more secure than ever, you can provide limited access and get instant alerts on any movement on your property, or in case of trespassers. The biggest benefits is savings. Bills reciprocate to the usage of the appliances, you can easily cut down on the usage as the appliances can automatically turn down when you leave the room. 

 

The Challenges:

The only cause of concern is the costing, installing and connecting all the devices is a heavy task. Along with that your devices should be compatible to the connectivity, in case you are using any older utilities, you have to update and upgrade. If you have a large family, too many users can also make it difficult and affect the functionality. 

 

Conclusion:

Home automation is a growing trend, it will soon become a household name too. The number of appliances and utilities for daily use is increasing and as everything is becoming smart, so should your home. You can start with an AI and then step ahead with the integration of smart devices. The only thing challenge is that it might draw some holes in your pocket and it requires regular updates. We recommend that home automation has more benefits and only one challenge. The AI and smart devices do come in price variants. You can start with a smaller device and as you get used to it, you can make the advancements in the usage.  ')}

The world of retail is evolving, and so should your business

E-Commerce Trends That Will Drive Business In 2019

With the Holiday season upon us, the flurry of deals and discounts are on the offer all around us. The customer spending’s are at all time high and the world of retail is cherishing every bit of it. The retail sales in the year 2018 as of now have been $24.86 trillion and are expected to grow up to $27.73 trillion by the year 2020. If anything, it is a clear sign that the world of retail is growing faster than ever before, primarily online, but the offline sector is not too far behind. However, online is where the action is. Offline retailers in current times not only competing with the online behemoths like Amazon but also with their fellow retailers. And in such a competitive market it’s imperative to remain relevant and to keep up with the changing trend to make your business survive and eventually, thrive.

The modern digital landscape demands a tad more than a brick and mortar store accompanied with a website online to stay ahead of the competition. New tools, platforms, and software developments have made digital transformation the order of the hour for pretty much every retailer looking to keep their business afloat. And while many retailers are on-board the digital transformation bandwagon, there still is a significant number of retailers who still are far away from anything digital. While it has taken a toll on their business already, it can be devastating in the coming years. So, if you are among those or are just getting to terms with the ongoing digital transformation around us, we are alongside you in this transition and will help you in every possible way. But first, let’s lay down the basics and understand why do you need a digital transformation and why your business needs to evolve with technology to remain relevant.

What Is Digital Transformation?

Despite the widespread technological breakthroughs, for a lot of retailers, a digital transformation ends with getting a website for their store. But in real fact, it actually starts with getting one. So, if you have one (or not) the journey has just started. With online shopping platforms like Amazon disrupting the e-commerce sphere with their technological prowess, a successful digital transformation will need a lot more than a website. Studies have shown that the retailers who have adopted technology for their businesses have experienced almost 6 percent of revenue growth in the past 3 years or so.

Some of the general changes that technology has brought into the world of retail to help the businesses serve their customers better include personalized customer experience, on-demand services, contextually relevant offers, and a seamless online shopping experience. Some others have gone a step further by bringing in mobile apps, secure payment processing, listing their businesses on product discovery platforms like Taglr or just better in-store information on mobiles. In general, every retailer is ready to up their retail game in order to offer the best e-commerce experience to their customers and in return keeping their business at pace with the changing technological developments.

And if you are looking to digitally transform your retail business, here’s how you can do it.

Just start

Transforming a brick and mortar business digitally might sound a daunting task, but if you take one step at a time, it actually is not. Especially with product discovery platforms like Taglr. However, that’s just half the battle won. You still have a lot of work to do.

Give your business a strong social media presence

You’ve got your business, good. But that’s not enough. Social media in current times has a huge influence on the shopper behavior and brands are leveraging the power of social media to establish a strong bond with their consumers. So, whether you own a small retail store in the neighborhood or run a multi-store retail chain, it’s very important to have a strong social media presence to connect with the shoppers where they are. With the growing number of smartphone users, most of the shopping decisions these days are made over social media platforms like Facebook, Twitter, or Instagram. So, if you want to take your products, offers, and latest updates on your business straight to the fingertips of your shoppers, you need to give your business a social handle. It’s easy, simple, and incredibly beneficial if you are just starting your digital transformation.

Understands the consumer requirements

In the current age of high-speed internet and smartphones, the attention span of modern customers is really fickle. In the digital world, consumers want things to happen quick and fast, so if you are moving in this direction, it’s vital that you avoid any delay in your products or services. You also need to tailor your products and services differently for a different set of users. You also need to take into consideration that every new technology you implement to your business will take some time to be accepted and adopted by your customers, so you need to trade carefully. It’s highly recommended to have an attentive customer support available to make sure that you don’t lose any customer due to a small delay in the product or service.

Get a dedicated IT department

This is applicable for the businesses who are looking to do everything in-house as opposed to adopting platforms like Taglr, which takes your business online in a jiffy and provide complete IT infrastructure and support to your business. Having an in-house IT department will ensure a smooth running for your business and will make sure that all your customer grievances are addressed at the earliest. Your IT department will also make sure that the new tools and technologies are integrated on a timely manner for business gains. This will help you run your business alongside the online shopping behemoths like Amazon at their own pace.

And that will be all. We think we will evolve with the changing environment with time, however, in the retail industry, the change will not happen if you don’t make it happen. So, if you are still thinking about digitally transforming your business, we suggest you stop thinking and act. ')}