Future Of Online Shopping

Future Of Online Shopping

We are seeing an unprecedented growth in mobile technology with path-breaking developments taking place on a daily basis. Be it the emergence of voice assistants like Siri, Cortana, Alexa or the emergence of artificial intelligence in pretty much every field you look around. In a lot of areas the human intervention has gone down significantly, be it the complex field of medical treatments or just the everyday shopping. The technological developments have reformed them all. And with so much happening around, it’s about time we discuss the future of online shopping because as evolved as the modern online shopping experience is, it’s far away from done and there is a lot to come.

One major factor contributing to the incredible growth of online shopping is, the mobile technology is witnessing incredible development and the increased adoption rates for them. Online shopping in current times has become an imperative part of one’s life. Hence, whether you are a business owner or an avid shopper, it’s very important that you pay close attention to what’s coming in the world of online shopping and what the future holds for it.

So let us get started.

The significant growth of digital channels

According to a study, almost 54% of purchases made by the millennials are through online platforms as opposed to 49% by non-millennials. On a whole, almost 51% purchase made by the modern-day shopper is through online platforms facilitated by product discovery platforms like Taglr.  The growth of digital channels like Taglr and many other product discovery channels now allows the online shoppers to discover products on multiple online and offline stores at once. It not only saves a lot of time for the shoppers, but at the same time makes it easier for them to compares, evaluate, and verify their purchase from more than one platform.

The increase in the number of mobile devices, easy connectivity and access to desktops further boosts the reach of such digital platforms. And while desktops still dominate the online shopping sphere with a majority of purchase taking place on them, a lot of shoppers have moved to other devices such as smartphones and tablets. All of it will only grow in future and will make digital channels a primary source of shopping and product discovery for the shoppers.

Smartphones are the future

The immense growth in mobile technology has fueled the significant growth in online shopping to primarily. According to a study, online shopping through smartphones has seen significant growth in recent times with both retailers and shoppers adapting the “mobile-first” strategy for their respective gains. A lot of retail businesses have started optimizing their business strategies to focus primarily on smartphones by listing their businesses on different online marketplaces.

There has been a major shift from PC to smartphones as the primary source of information and a majority of shopping interactions take place on smartphones these days. According to a study, almost 40% of smartphone users use their smartphones for online shopping, which makes them all very important for the retailers. For the businesses, it is of utmost importance to be discoverable over smartphones to attract customers to their stores. And platforms like Taglr are enabling that through their platform by allowing retailers to list their products and take them to the customers looking for them.

Hence it is safe to say that even though desktops and laptops still dominate the online shopping world, smartphones are not far behind and with changing technology sphere smartphones are bound to emerge as the primary mode of any shopping interaction.

The rise of cross-channel shopping

In store or single channel, shopping has always dominated the Indian markets, with as many as 60% of shopping happening through a single channel. However, with the rise of online shopping platforms and the easy access to the internet, customers have started moving towards the e-commerce websites significantly. According to a recent study, the multi-channel or cross-channel shopping has seen significant growth in recent times. The modern customers are spending more time researching online about the purchase they are about to make before putting money down the table for purchase.

The emergence of online product discovery platforms has only empowered the online shoppers by providing them a unified platform for all their shopping needs. Customers not only can view products from an online store but at the same time can check the same product at a store near them. This not only allows them to make smart shopping decisions but also provides a level playing field to the retailers to compete with the established online e-commerce players. It’s a win-win situation for both, the retailers and the shoppers.

The emergence of the digital native generation

When we are talking about online shopping it’s tough to overlook the millennials, who currently dominate the online universe. This is the generation that’s shaping the retail trend with their shopping habits. Their technological prowess puts them ahead of your everyday online shopper as they have grown with the trend of online shopping and have embraced the change as opposed to the older generation, which still has their own fair share of reservations about online shopping.

These are the shoppers who begin their shopping journey with a simple search on the app and are more likely to go through a thorough examination of the product by checking the product ratings, product reviews, and photos before deciding to make the purchase. This is why it’s imperative from the retailers’ point of view that their products are made visible to this generation. Retailers have also started tailoring their offers and products to meet the need of the millennials and are embracing the power of technology to serve them.

And that is what the future of online shopping is. Focus on mobile devices, embracing the power of technology, and catering to the newer generation that’s growing with the technology. Any modern day retailer who can capitalize on these three aforementioned aspects of online shopping is bound for success. ')}

Marketing Misconceptions Debunked

Marketing Misconceptions Debunked | Taglr

Online or in-store, no matter where you run your business from, the success of it primarily depends on its marketing.

With technology invading the modern retail market, the marketing as we know it has changed drastically. Technology has reformed the way we consume products and services. A product popular among a group of friends could be an industry trend tomorrow, thanks to the technology.

This is why it is crucial for your business to adapt to the changing tech sphere around you and modify your marketing plans accordingly. And in this blog post, we are trying to help you with it.

How, you ask?

Well, simply by debunking some of the age-old misconceptions of marketing.

So let’s get started.

Marketing and Advertising are not the same…

If you started your business before the dawn of the digital age, the chances are that you might think that marketing and advertising are one and the same. And even though the sales and creatives of advertising can be seen as an outcome of marketing, marketing on its own has evolved into the multifaceted role.

Catchy phrases and taglines that were the highlights of good old advertising days have been replaced by extensive market research, data analytics, and creating product offerings to match the consumer needs. Technology has empowered retailers to run custom campaigns for every single customer of theirs as opposed to running a generic advertising campaign for the entire customer base. The retailers are going as far as creating dynamic pricing for the customers to ensure maximum conversion.

In order to succeed in the modern tech-dominated market, you need to explore new and innovative channels to market your business and products and take them where the customers are, rather than driving your customers to them. And with Taglr’s unique smart advertising platform, we believe we can help you in doing so.

Marketing does not have to be perfect…

We often come across retailers and business owner who spend lots of resources in search of that one marketing campaign that will put them into the limelight, which never should be the case.

There is no such thing as “perfect marketing campaign.” With smartphones in hand and uninterrupted connectivity, the attention span of modern consumers is very less and if you can not register your business in that small frame of mind, no matter how perfect your marketing idea is, it is going to fail.

The most productive approach here is to try different channels, use technologies like machine learning and data analytics to understand the consumer behavior and create the marketing campaigns accordingly. Not all your marketing campaigns will be fruitful and that is just fine, as long as you keep experimenting and are not afraid to try new platforms to showcase your business to your customers. This will allow you to identify the best channel and messaging that works for your business.

No one knows what the customer wants…

Many advertising and marketing agencies will tell you that they understand what the customers want. But the real fact is no one knows. Even we can not claim that we understand what the customers want. However, what Taglr can give is smart insights on your customers’ behavior and what the customers are interested in, by means of smart analytics feature.

The interest and behavior can change with changing marketing trends or just with a casual social influence, and so will the data. So, it’s very important that you keep tweaking and modifying your marketing campaigns to make sure that you are capitalizing on the changing customer behavior.

So, next time someone tells you they know what the customer wants, you know what to say.

Social Media is not for us…

Whether you are an owner of a small retail shop in the neighborhood or a large multi-channel retail store owner, you just can not overlook social media. And even if you do, social media will keep looking at you. Whether it’s the Google search engine rankings or the mention of your business and products in a tweet or a Facebook post, your business will become a part of the social network in one way or the other. So, why not embrace the power of social media for business gains.

It’s highly recommended to present your business and offerings on social media website like Facebook, Twitter, Instagram etc. These websites will not only make your business discoverable in the Google search engine but will also allow your customers to reach you directly. Links to these social media websites also works as a credibility indicator for your business and helps Google rank your business for certain keywords higher in the search engine rankings.

So, instead of running from social media, we recommend you put it to work for marketing your business.

That will be all for now…

That said, in no way we are recommending or suggesting that you replace your current marketing strategies or plans on hold for the aforementioned few techniques. What we are trying to address here is that the traditional marketing misconceptions that many of you might have are no way true. With Taglr and many other online marketing platforms, the traditional marketing techniques as we know them have paved way for the more advanced and technology-driven marketing techniques. So, put technology to work and see your business grow by leaps and bounds. ')}

Your Retail Business Needs Online Presence

The one question that always crosses the mind of a retailer with a brick-and-mortar store – big or small – will have to be – should we or should we not take the business online?

Whether you are a big successful retailer with a flourishing retail store in the neighborhood or a multi-store owner with presence across the city, the dilemma to take the business online is always there.

There are arguments made both in favour and against the idea of taking the business online. And somehow all those arguments make sense at the time they are presented. As a result, you are left perplexed and confused, which then more often than not leads to you dropping the idea of taking your business online. But with the worldwide eCommerce sales expected to grow to $4 trillion by the year 2020, we believe it’s about time you take that decision seriously.

And to help you make that transition from your popular brick-and-mortar store to having a prevailing online presence with Taglr here we have listed few compelling reasons to help you take the leap of faith.

We are not saying that by the end of the article you will be on a call with one of our representative talking about getting started in the online shopping world, but we assure you that the article will give you something to think about.

So, let’s get started.

Cost Effective

As a retailer, the first thing that you must think of while making any business decision is of making it cost effective and profitable. And that’s exactly what taking your business online offers. Setting up an eCommerce store with platforms like Taglr in current times is incredibly low cost.

Whether you are a tech-savvy individual or just a small store owner, we will help you take your business online in no time, while saving you lots of money and time. When you compare the cost of taking your business online with the cost of setting up a physical store, the difference will make it clear to you that taking the business online is a smart move.

The online advertising platforms like Taglr not only makes it easy for you to take your business online but also provide an easy and fast content management system,  which you can use to manage your inventory effectively. And let’s face it, inventory management for any retailer in current times is the biggest headache. So if there’s a system that can take that overhead from you, it is a smart move to try it out.

24×7 Visibility

One of the biggest drawbacks of having a physical store is the operational hours. Now, you can keep your business running 24×7 but you can not make customers walk into the store as a result of which the visibility of your store and your products get limited.

But none of those drawbacks are applicable to an online store. With an online presence, you are accessible to your customers irrespective of the time, you can make a sale anytime from 2 am to 10 am when the traditional stores start their business. The clock no more is the binding factor for your business and in the modern times when the customers are online 24×7, you wouldn’t want to miss out on them.

No Geographical Boundaries

An online store takes your business beyond any and every geographical boundary as opposed to the offline store which restricts the sales and visibility of your product to a specific area. Whether you want to sell internationally or just to the neighborhood kid, it all depends upon you. With just some easy and simple paperwork you can take your business and products internationally.

With your store online, you can now discover customers from different parts of the world, nationally or internationally, which will help your business grow tremendously.

Personalized Shopping Experience

One of the biggest advantages of having an online store is that you can pay detailed attention to every customer that visits your store. It is a tad tough to do the same in a physical store as there is a limitation of space and resources, but with technologies like artificial intelligence and machine learning at your service, you can customize your services to an extent that every customer will get everything that they want.

Be it the simple “Welcome Back” message or the product recommendation based on their past shopping or showing product suggestions based upon their shopping pattern or history, just lifts up the overall shopping experience for the customers and makes them feel wanted and overwhelmed.

You can also use AI assisted bots to help the customers shop or to assist them for when they are stuck at any point just makes online shopping easier and convenient for the customers.

The detailed analytics report offered by online shopping platforms like Taglr enables you to tailor your products and services according to every individual’s choices and preference. The more personalized the look and feel of the store the higher are the chances of them shopping with you and building a loyalty to your store.

Final Words

These are just some of the many advantages or reasons why your retail store needs an online presence.  Whether you are looking to scale your business or just looking to make some profit by taking your products to new customers, going online is the way forward.

If you still have any reservations about taking your retail business online, we will be more than happy to help you with it. Just write to us at support@taglr.com and we will get in touch with you at the earliest. ')}

Product search engines and why they matter

Searching for a product online amid the gamut of online merchants can be an intimidating task. Especially with the flurry of options available at your disposal. This is where product search engines come into play.

Now, at first, the term product search engine might sound a tad too techy. But in reality, it is not. Simply put, a product search engine is a program that allows the shoppers to find the product of their choice in an efficient manner from their choice of the online merchant. However, while the product search engines are designed for a specific mission, their challenges are not different from those of a traditional web search engine.

For starters, the product search engine must display the search results in the most precise manner for every search query they receive in order of relevance. Whether the search is relevant or not is evaluated using the Human Relevance System and some other key metrics such as click-through rate, first-click rate, last-click rate, bounce rate, etc. All of these metrics are used to determine user-engagement for every search result. The higher the user-engagement, the more relevant the search result is.

All of those metrics are also used by other search engines such as the image search engine, the local search engine, the job search engine, etc. However, this article is about product search engines and how they are of great use for modern users.

So, let’s dive straight in.

For a consumer, nothing is as important as finding that perfect product in the very first click. And while the traditional web search will get them the relevant results for their product search, a product search engine will get them the precise product, the merchant offering the best deal and the most convenient one as well.

So, what makes product search engines better than the traditional web search engines?

Simply put, it’s the data that they analyze to display the search results.

While a traditional search engine uses a wide assortment of data to display their search results, the product search engine only uses the pool of product data to fetch the best results. All the data combined with machine-learning model narrows down the search results to the most relevant and accurate ones.

Now, you must be asking what are the data points that make an e-commerce product search engine more useful than a traditional web search engine?

So let us tell you some data points that the product search engine analyzes for displaying their search results.

Products and their attribute –

While the traditional search engine uses the keywords from the search query to display the search results, the product search engine uses the product name and the attributes associated with it. So if you are looking for an “Apple iPhone” on a traditional search engine, you might get the search results for the news articles covering the product, the reviews of the product, the blogs discussing the product and somewhere in between a merchant selling the product. However, when you enter the same search query on a product search engine, it only searches for “Apple” and “iPhone” along with its attributes like color, screen size, model etc to search for the product in depth.

The machine learning algorithm used by these product search engines such as Taglr understands the product attributes in detail and matches the search query with the most relevant product to display the results. This understanding of the algorithm improves overtime with every query, meaning better search results for everyone. The stronger the attribute-extraction algorithm is the better will be the search engine.

Understanding the query

This is another key feature of product engines like Taglr. As opposed to the traditional search engine, a product search engine annotates the search query into product attributes which enables the algorithm to match the products to the search query.

So if you search for a “table” on a product search engine, the algorithm will match the query with products having the table as an attribute which means you will get all the relevant results for the term “table”. If you further modify the search to only “dining table” you will get results only for “dining table.” So a product search engine understands the query as good as a store assistant and helps you navigate to the product easily.

Product Recommendation

Shoppers often find it hard to find the perfect product they are looking for. As a result, they get confused and spend hours and hours in search of what they want. However, a product search engine stores all your activity on the platform as data points for your future visits and recommends products based upon your previous searches, your previous purchase, anfunnelledes even based upon the last product you viewed. As a result, it becomes easier for the users to find the product they are looking for or the product they were looking for.

All these recommendations can be further funneled down to show precise product recommendations to every user. It also helps the online sellers to boost their revenues by maximizing the sales per visit for every customer.

Final thoughts

Finally, to sum it up, a product search engine is your personal shopping assistant which can be customized to any extent to match your needs and the needs of the merchant. However, these are not all the features and functionalities that a product search engine posses or must possess, the possibilities of what can be done with a product search engine are virtually endless and as the technology grows, we will find them all. Till then, keep watching this space for all things shopping. ')}

Let’s simplify online shopping

Let's Simplify Online Shopping

Online Shopping – as fun and exciting it may sound, it is a painstaking task too. For every product you want, there are hundreds of sellers, platforms, variants, and not to mention discounts floating around. One simple search could bring you ample options to browse through the whole day and yet end up not buying. As a result, more often than not, you develop a loyalty to a certain platform, to a certain seller, or to a certain discount period for your shopping needs. You stick to routine every time you do product hunting online. And while all that is great, there are chances of you missing out on a better alternative on a different platform. All you need is just a tad more time on research or a platform that will do the dirty work for you.

That’s online shopping from the shopper’s point of view.

Now, let’s see the seller’s point of view.

In the widespread web, there’s immense competition on every “search query.” For every search query, there are millions of results, some relevant, some not so. But when it comes to online shopping, the competition gets fierce, as here while most of the results are relevant, not every result gets the desired attention. As a result, some businesses flourish and establish themselves as the industry leader, while some just strive to remain relevant.

But is online shopping as complicated as we discussed above?

The answer to that will be “No.”

Though, not every business or shopper understands that. So, we decided to simplify online shopping for you all.

In here, we will discuss some key points that not only will help the shoppers pick the best platform to shop from, but also will help the sellers reinvent themselves and reap the benefits of their years of hard work.

So let’s get started.

Understand the shopper(s)

The most crucial thing for the modern businesses is to understand their customers/users. The same is applicable to the customers/users too. They need to find the business that understands them best. A business must address the need of the user in the most efficient manner possible. Understanding what the user is looking for and providing them precisely with that will go a long way in establishing a bond with the user.

In the current times when everything we search, say, or do is getting turned into data, it’s of utmost importance for the businesses to use that data for greater business gains. A lot of modern users still use the traditional feedback collection as means to improve their services. While the big e-commerce giants use data to analyze the customer behavior, their buying pattern, their interests, their likes and dislikes to tailor their services. As a result, they connect with the user right from the first click on the platform.

Now, analyzing data and using data for business gains might sound a lot of tech work or something for the tech-savvy retailers, but that’s not true in current times. With a platform like Taglr, you not only can collect all the relevant data about the customer behavior but can also use it to tailor your services according to the customer(s).

Personalize your offerings

Personalization is a sure way of winning over a customer right from the first visit. As mentioned above, in the widespread web finding the right product could be a daunting task, add it that seeing different products, sellers, websites every time you go on the internet and you have in hand a confused-least-likely-to-shop-customer.

Hence it is very important that the retailers personalize their service as much as they can. There are recommendation engines which gives product suggestions based on the user’s buying history, the last page they visited, the last category they visited etc. All of this helps the user in making the buying decision without wondering here and there.

It not only will help the shopper make a clear buying decision, but also will help the seller streamline the online shopping on their platform. And Taglr can help both, the shopper and the seller in doing so with its powerful recommendation engine. Taglr makes product search more efficient by using big data analytics to understand the shopper behavior, the shopping patterns and the interest of the shopper all at once.

AI-assisted shopping experience

In every online shopping experience there comes a time when the shopper will either forget to edit their shopping cart or will forget a product or two that they should’ve added while they were shopping and not while checking out. This not only will cut down the check out time, but also will provide a more comprehensive shopping experience.

This is where the introduction of Artificial Intelligence in the world of online shopping comes into play. The AI algorithm identifies the products that are in general bought together or are bought before or after a certain product and once the user adds any product to their cart the algorithm modifies the suggested product list to help the shopper continue shopping without doing a fresh product search. As a result, the customer gets all the products he/she needs on one page as opposed to opening a new window for every product or doing a fresh product search. It’s a win-win situation for both the retailer and the shopper.

Conclusion

These simple yet efficient ways in current online shopping age could be the deciding factor between a successful online business and a business just trying everything to get the attention of one user at a time.

At Taglr, we are trying to offer a complete suite of all such features that not only will simply online shopping for the shoppers but also will help the businesses achieve their business goals with minimum efforts. So, if you still think online shopping is a complicated and confusing process to go through, let us simplify it for you. ')}

How Emergence Of Retail Technology Is Changing Traditional Shopping

How Emergence Of Retail Technology Is Changing Traditional Shopping

According to a modern study, a majority of shoppers prefer online shopping over the traditional in-store shopping. The number of businesses lured into the modern e-commerce market is constantly on the rise.

However, with the constantly increasing number of businesses, the competition is growing fast as well. So, to survive in this cut-throat competition, businesses need to step up their game in every department to offer a seamless shopping experience to the customers. Technology, being at the forefront of it all.

Technology has had a huge impact on the retail market. Be it the way, the customers interact with the retailers or the way the retailers build their brand, everything has been revolutionized by the emergence of retail technology. In this post, we will take a quick look at some of the key areas where the emergence of retail technology is changing the traditional shopping:

The Rise Of Smartphone Shopping

Smartphones have taken over. Not in a Terminator-esque sense, but pretty much in every other sense. A majority of modern shoppers use a smartphone for their shopping needs. While some of them buy directly from their favourite e-commerce website, a majority of them prefer doing a thorough online search before making the purchase. Some of them even search the local retailers and do not restrict their hunt for the perfect product to the online market alone.

The smartphones have become the primary mode of engagement between the brands and the customers. From reading reviews and ratings to searching for the product at the best available price, pretty much everything takes place on the smartphone screens. This is why it’s very crucial for the advertisers and marketers to offer attractive prices and engaging content for their brands. In order to thrive in the modern market, it’s very important that the brands offer a pleasing, updated, and convenient mobile experience for the shoppers.

Efficient Use Of Analytics

In our previous post, we saw how machine learning applications are changing the modern e-commerce world. One area where the implementation of machine learning applications has created serious impact is the mobile world. With the growing comfort level of shoppers with online shopping, the use of customer behavioural analytics, web analytics, and the sheer amount of data accumulation that comes with every purchase makes it easier for the marketers to use machine learning to put all that analytics to work.

Shoppers like to do extensive research on products, sellers, and services on offer before assigning their loyalty to an e-retail store or a brand. Business can use the rich data based on the customer’s shopping trends to engage with them and accordingly carry out relevant advertising, marketing, and other strategic decisions to capture them.

However, not every business in the market is technologically equipped to use the behavioural analytics for their business gains. This is where online product discovery platforms like Taglr play a vital role. Taglr offers rich behavioural analytics to the advertisers on its platform to help them create engaging content for the potential customers and use them for their business gains.

Dynamic Pricing Strategy

The modern retail market is highly price-sensitive, whereby even the slightest change in pricing can significantly boost the chances of a retailer attracting the shoppers as opposed to its counterparts. In such competitive market, the dynamic pricing strategy by the e-retailers could give them a slight edge over the e-tailers going by the traditional pricing route. To help you understand, dynamic pricing strategy allows the retailers to change the pricing of their products based on the market trend, the inventory, or the sales targets.

As soon as the retailer identifies a fast-moving product, she can decide to inflate the price to avoid stock depletion or vice versa. In a similar way, in order to meet the sales targets, the retailer might also choose to lower the prices of their products.

By using dynamic pricing strategy, the retailers can also keep a tap on the pricing strategy of their competitors to make beneficial pricing decisions. For example, when a competitor is running low on the stock of certain products, they can choose to increase the price and attract better sales and profit margins.

The best implementation of dynamic price strategy is the real-time price updating, which a lot of e-commerce stores use to capture as many customers as they can. But nowadays a lot of small and medium-sized enterprises have also started adopting the strategy.

Artificial Intelligence

Managing customer interaction is the biggest challenge that the modern e-commerce firms face. And this is where Artificial Intelligence comes into the picture.

Artificial Intelligence can be employed to handle customer interaction in a much more efficient manner through chatbots or automated response to make sure the customer interaction is a lot more personalized, efficient, and effective.

At the same time, AI can also be used to handle huge chunks of data to analyze the customer behaviour, market trends and the factors influencing the customer behaviour.  This not only makes online shopping a lot more personalized and safe as well.

One fine example of this is Amazon’s virtual assistant, Alexa, which helps the retailers to offer better suggestions to their customers to help them boost their sales. Some of the areas where artificial intelligence has helped the retailers include product recommendations, post-sales support, and helping the customer make a purchase faster.

To sum it all, retail technology and its evolution will continue to revolutionize online shopping, which will enable modern businesses to innovative ways of customer engagement. In coming days, it will be the differentiating factor between the leaders and laggards in the world of retail. ')}

Machine Learning Applications That Are Changing E-Commerce

Machine Learning Applications That Are Changing E-Commerce

Data-driven infrastructures seem to be the way forward for the modern businesses. With the constant growth of data, the modern businesses can now use it for their business gains in many ways. Technological development in the field of Artificial Intelligence (AI) has given birth to a wide assortment application, which can use huge chunks of data and turn it into business value.

One major field where the developments in the field of Big Data and Artificial Intelligence have made huge leaps forward is retail. With the constantly growing number of online purchases, companies are gathering detailed data on the overall customer experience to offer better products and services. Artificial Intelligence uses data like what the customer is searching for, what they are ordering, how much time they are spending on a certain product page, or even the products they are rating and reviewing to better the overall customer experience making it more personal, efficient, and engaging.

The subfield of AI which is at the forefront of it all is Machine Learning. For the uninitiated, machine learning is the field of developing autonomous learning algorithms; these algorithms are evolving with the data fed to them to generate the outcome that makes it easier for the customers to find the product they are looking for or just the overall shopping experience. In today’s article, we take a look at some of the most powerful machine learning applications, which are changing the mere face of e-commerce as we know it. And it makes us happy at Taglr, that we are using them all to build a product that will help you shop in a more efficient way.

Product Recommendation

The first thing that comes to mind when we talk about machine learning for modern e-commerce is product recommendation. To make it easier for you to understand, the features such as “if you like the product A, you will probably also like product B” is what product recommendation is all about. And let’s face it, it has served us all well. With the constantly growing number of online shoppers, the traditional way of adding product recommendations has become tedious, error-prone, and least of all outdated.

In comes machine learning. Broadly, the modern product recommendation algorithms can be divided into two categories: content-based recommendation and collaborative recommendation. The content-based product recommendations match the product with the profile of the shopper (e.g. brand preference, gender, or age) to the content of products (e.g. price, category, or colour). While the collaborative recommendation gives recommendations based on their past shopping. To put it in a simplified manner, if customer X has bought A and B products in the past, then it will show product C, as it could be relevant to the customer.

Machine Learning makes it easier for the online shopping websites with huge chunks of inventories to provide efficient search algorithms and helps product discovery platforms like Taglr to showcase the most relevant product to the users. It’s safe to say that if you can not find a product, you will never be able to buy it. And that’s what the product recommendation algorithms address. These algorithms are faster and way more efficient than the traditional image or text-based search.

Anomaly Detection

Detecting Anomaly within the huge chunks of data is humanly impossible or at least a lot harder. The larger the number of data, the harder it gets. But not for an algorithm. And that’s what machine learning does. The anomaly detection algorithm identifies the pattern in the data, irrespective of the size and as soon as it detects what is “normal” and what is not, it sends an alert.

One of the most effective applications of anomaly detection is identifying the fraudulent transactions. The bigger the retailer, the larger will be the number of abusive customers they will have to deal with. If not that, then there always is the credit card theft, customers using a credit card in order to purchase a product and then retracting the payment via their credit card company once the product has been delivered. The risk is always there. However, the anomaly detection algorithm detects all such cases efficiently and send alerts accordingly making the online transactions safe and reliable.

Customer Support

One of the biggest hurdles in the world of e-commerce is the tiresome customer support. Getting help from an online store regarding a product, service, or a transaction can be frustrating at times and customers universally have accepted it.

However, with machine learning, the whole process can be automated using bots. Bots not only can take phone calls but also can provide support via real-time chat interference, as opposed to the traditional human customer support. The advancements in Natural Language Processing (NLP), speech recognition via deep learning has made it possible to have a lot more flexible and reliable experience with robots. With a large number of contextual information at their disposal, the accuracy of machine learning models has improved significantly. These systems not only take a single word or phrase into account but also considers the whole input while providing support. It makes answering the queries a lot easy, efficient, and fast.

Final Thoughts

All the applications that we have mentioned above are just a small segment of what modern machine learning algorithms are doing for the modern e-commerce market. There is a wide range of other applications that we are using at Taglr and will discuss it in our upcoming blog posts. So, keep watching this space if big data, machine learning, artificial intelligence, and e-commerce are the terms that excite you. ')}

Big Data – What It Can Do For Your Business

Big Data - What It Can Do For Your Business

Big Data is the easiest way to understand the modern world. As technology penetrate our lives, the influence that data can have on anything and everything we do is unmeasurable. Both offline and online. Almost anything you do turns into data for the technology.

As a consequence, we’re inundated with virtually endless facts, perceptions, numbers, and percentages in our hand. And, understanding and studying this overwhelming amount of information on hand is what Big Data is all about. A little complicated, but of great use.

A Closer Look At Big Data –

The information scattered across in form of traditional or digital form is huge. Bringing all that information under one roof for a specific purpose could lead to a greater understanding of the modern world. It could be used as a constant source of discovering new patterns and analysis. Tech companies use this large amount of data to analyze consumer behaviours, market trends and tailor their services or products accordingly.

One industry that has specifically leveraged the power of Big Data to a greater effect is the world of e-commerce business. All big e-commerce businesses in the current market use big data to understand the market trends, customer behaviour, their buying patterns to streamline their operations and gain more customers.

So, it’s about time we look at how big data is transforming the e-commerce market and how online advertising and product discovery platforms like Taglr is helping smaller retailers harness the power of big data.

In-Depth Shopper Analysis –

For any business, it’s of utmost importance to understand their shoppers behaviour. Big Data makes it easier for them. By analyzing big chunks of data and preparing analytics on latest trends, customer preferences, and the growing demands, business owners can now make sure that their products are in store and are being promoted accordingly. Big Data analyzes all the searches made by customers to update you on any product that you don’t have in store or online but should have. Big Data analysis continues to illuminate the changing customer behaviours like the most popular shopping time, the most popular products, and many such things to help you seize new business opportunities.

In the modern competitive market, more and more offline retailers and online stores alike are using Big Data analytics to tune their marketing strategies, inherent shopping processes, and social media advertising to boost their sales and customer engagement.

Improved Customer Service –

In the modern competitive market, one bad customer service experience can cost you a customer, forever. According to a study, a major chunk of customers will not shop from a business with which they have had a bad customer service experience in the past. A good customer service is a key to success for all modern businesses, online or offline.

Taglr’s Big Data analytics provides predictive monitoring on the issues your customers are/will be facing, to streamline your customer service and make sure that the problems are resolved at a faster pace.

Easier and Safer Online Payments –

Big data has the capability to integrate multiple payment gateways on one platform. It not only makes it easier for the customers to use but also minimises the online fraud risks. The advanced data analytics is strong enough to identify payment frauds in real time and raise a concern immediately.

Furthermore, big data can also identify money laundering transactions, which might appear as legitimate transactions to naked eyes. With all the safety combined with ease of use, data analytics makes it easier for the online and offline businesses to sell and upsell.

Seamless Integration With Mobile –

The number of smartphone users is constantly on the rise. According to a recent study, we might be already approaching towards the time where desktop computers will become obsolete.

And in such times, big data fits right in. Businesses can now collect more native data to transform their products and services. They also can gather data from different sources to analyze their potential customers at once.

We already are seeing Google giving preference to websites that are mobile friendly and responsive. So, in case you do not have a mobile-friendly website, fret not, you can still open your store with absolute ease on Taglr to reach the right customers.

Final Thoughts –

The increasing adaptation of Big Data by e-commerce industry could very well be the difference between a successful store and a store longing for customers. Whether you are looking to take your business online or just want to advertise your products online, online product discovery platforms like Taglr can make it happen for you with absolute ease. Taglr offers a wealth of technological tools like in-depth analytics using big data, machine learning, and artificial intelligence to help you find success in this modern technology-driven market. ')}

Research Online, Purchase Offline Is The Way Modern Shoppers Shop

Research Online, Purchase Offline
According to a study, almost 65% of modern shoppers prefer to do a little to extensive product research online before stepping foot in any store.

The pre-purchase behaviour of modern customers plays a decisive role in their shopping decisions. Consumers today are empowered by many tools that enable them to do an extensive research online before putting money on the table for the purchase. This move from clicks to bricks with absolute ease, calls for effective measures to be taken by the modern retailers to understand their customers and enable them to browse and buy to maximize the profit margins. However, it is a lot easier said than done. While the customers have the freedom to browse and buy from any store, online or offline, of their choice, the retailers struggle to tap into these shoppers due to the sheer unpredictability of their move.

This is where making use of technologies like Big Data analytics, Machine Learning, and a bit of Artificial Intelligence can give an edge to the retailers. To tap into the right consumers it’s very important to identify where the journey of the shopper actually begins. And the retailers that harness the power of aforementioned technologies together with engaging digital content, findability based on the geographical location, keywords, and SEO (Search Engine Optimization), are bound to win the game.

And with Taglr, we are trying to put our retail partners at the forefront of it all. So, let’s have a closer look at the latest trend that is – Research Online, Purchase Offline.

Understanding research online, purchase offline or ROPO –

The increasing penetration of internet with increasing number of smartphone users is converting the modern consumer into a research obsessed buyer. An integral part of any modern purchase is the initial research that goes into shaping up the final purchase decision. Whether the consumer is in the store or in the product aisle itself, the convenience of researching products online prior to putting them into the cart plays a significant part in determining what ends on the billing counter and what remains on the shelf.

According to the latest study, almost 67% of the customers admitted to researching products – occasionally – if not regularly before walking into a brick-and-mortar store for the final purchase. Some more admitted to having a pre-shopping routine, which included extensive online research among many things. A very small number, almost 33%, admitted to not making online research a part of their shopping journey.

All of this data highlights the fact that whether you are a multi-brand retailer or a fashion brand or a retailer with omnichannel presence, you need to have a firm grip on the digital channels to ensure that you are present where your customers are seeking you.

Understanding The Shoppers –

When we talk about research-obsessed shoppers, a millennial with a big smartphone roaming around the store is the first image that comes to our minds. Doesn’t it? However, we could not be far from reality. According to a study, the younger shopper base aged between 18-24 years aren’t as obsessed as their older counterparts. As per the study, almost 54% of shoppers between the age of 18 to 24 years said, they do not do an extensive research on products online before visiting the store. However, a lot of it could be attributed to factors like impulse shopping and the fact that most of their shopping includes low-risk items.

On the other hand for the older shoppers between the age group of 24 to 34 years almost 73% research online – occasionally if not every time – before stepping into the store. And while a lot of it can be attributed to the responsible behaviour of these shoppers, it’s very important to understand that these shoppers account for the most sale in the modern market. They not only like to read reviews of the products they intend to buy but also like to know all the key facts about the items they are about to buy.

The same is applicable to the shopper above the age group of 34 years. The mature the shopper, the larger is the extent of research that goes into any shopping. This is what makes having a strong digital presence and a thorough understanding of consumer behaviour such a decisive factor in the modern market.

So now, let’s see how to capture these research obsessed shoppers for your business

The key to success in the modern research obsessed market is to have impeccable digital capabilities. The content to go with it will give you an added advantage. Let’s have a look at both these things one by one.

The technology has grown leaps and bound since the time you last visited the supermarket so it will be unfair to overlook it in aiding your business. The increasing use of Big Data to understand customer behaviour, buying patterns, the best time to sell, and pretty much any metric that can be used to boost the business and capture the shoppers at the right instance is changing the modern retail market. And we at Taglr are trying to do just that. The expansive use of technologies like Big Data, Machine Learning, and Artificial Intelligence to predict, study and understand the shopping behaviour makes it easier for us to provide smart analytics to our retail partners to empower them to tailor their offers and deals for maximum profits. Taglr is a unique product discovery platform for modern retailers which enables them to harness the power of modern technologies to capture the research obsessed customers.

Now, as far as the content goes, Taglr uses advanced machine learning algorithms to generate a wide array of keywords to match with the relevant products to make sure that the customers find what they are looking for with absolute ease. We also encourage retailers to have deeper understanding of rich content to go with their products to make sure that their products are easily discoverable by the consumers. Pieces of information like product descriptions, photos, specifications,  and reviews play a significant role in the Search Engine Optimization of the product page and make them easily discoverable, making it a priority for every retailer in the modern retail market.

In the end, while we agree that it’s difficult to predict where the shopper will begin his/her journey, but what is easy is to predict the fact that the research will always begin online, and if your brand/store is not discoverable there, then you clearly are missing on a major chunk of market pie. ')}

Why is an online store better for your business?

Here's why you must have an online store.

Whether you run a small storefront or have an omnichannel presence for your business, there is no denying the fact that online shopping is the way forward. The popularity of online shopping has seen an unprecedented rise in the recent past, with almost everyone, from a small store owner to an entrepreneur starting in the retail world looking to get online. That said, it does not mean that the retail stores are an endangered species. There still is plenty of business opportunities available for the retail stores, however, having an online store to go with your retail store just puts you ahead of everyone going retail-only. And with platforms like Taglr, there is no reason why you should wait to open a storefront online to complement your retail store. However, if you are still having doubts about having an online store, let us help you take the plunge by listing some of the key parameters that will help you understand why having an online store is better for your business.

Cost

If you own a retail storefront you know how expensive running one is. If you do not own one, then with the soaring real estate price, in general, you can understand how hard it is to get one for your business. Top it all with hiring the right staff, the physical restrictions of reaching customers beyond the bounds of your geographical locations, the struggle with inventory management, and the recurring expenses on marketing to make sure that your business gets that constant influx of customers, and it all becomes clear how tough running a retail storefront is. Now, compare all of that to an online store. You do not have to worry about the rent of the store, monthly utility bills, salaries of store staff, and the constantly growing marketing expenses, just a small investment in web hosting and technical support and you are good to go. You can even get rid of all of that by simply listing your store on product discovery platforms like Taglr, which ensures that your store is up and running 24 x 7 with maximum visibility for your products and the constant influx of customers into your retail store. All your worries about the technical support, web hosting, and server costs are taken care by Taglr as well. With your store on Taglr, the only costs you will incur will be focused in and around shipping and accepting payments in your store, which when compared to any cost that you have been incurring for your offline store will be minuscule.

Inventory

A retail storefront selling articles like designer clothing, makeup, jewellery, sports goods or furniture, primarily will have a restriction on the number of items they can sell. The profit margins for such stores depend on the number of articles you sell customers. This makes managing the inventory a tad complex as you not only have to consider the price you wish to sell them, but also the number of items you wish to sell. On the other hand with an online store, the store owner can carry an extensive range of selection without worrying about managing the inventory. The profit of margins will be higher as well with the variety of items.

Competition

With constant growing internet penetration, more and more retail store owners are jumping on the online bandwagon. However, there still is a plethora of space for everyone to survive, as opposed to the traditional brick-and-mortar market. However, it’s still strongly recommended to examine the competition before commencing the process of taking your business online. While examining the competition when opening a retail store is a tad easier with just a quick survey of the locality you want to open your store at, it’s not the same in the online world. In the online sphere, there can be multiple businesses competing in the same vertical as you. Hence it’s of utmost importance that you start early and start slow without locking heads with the already established giants. Platforms like Taglr make sure that both the small and big retailers get ample eyeballs and that they turn into footfalls for the respective stores by using technology to showcase the products best matched with the user’s search query. If you are offering something which not many are in the nearby area, it’s highly recommended to open your store in the online world to harness the power of the internet and make your business even more successful.

Marketing

One of the most vital components of any successful business, online or offline, is building a customer base. With the retail stores, the geographical boundaries are major limiting factors in building a customers base. However, in the online world, there are no physical and geographical boundaries. Once you take your retail store online, your options to attract customers is virtually limitless. You are no more confined to the physical space your retail store occupies and neither are you access only to a handful of locals from the neighbourhood. You do not have to worry about revamping the store look and feel, neither do you have to worry about the unforeseen expenses to expand the business beyond the geographical bounds. When you are online, you can revamp the look and feel of your logo and your signs as much as you want, you can recalibrate your delivery regions anytime you want and you can, at any time update the inventory or the products you sell and the way you sell them.

All these and many other parameters like these point towards the fact that taking your retail front online can only open more doors of success. ')}