Trusted by over 250,000 businesses all over the world, Magento is the leading provider of cloud commerce innovation to brands, retailers and branded manufacturers across B2B and B2C industries. With more than $50B in gross merchandise volume transacted yearly, Magento Commerce is the foremost provider to the Internet Retailer B2B 300 and Internet Retailer Top 1000, counting double the clientele to the closest competitor.
Magento development company, the worldwide leader in digital cloud commerce innovation announced the Magento Holiday Dashboard, which uses live data of merchants to inform better commerce decisions for the holidays. The cloud analytic service gives merchants with enhanced analysis of holiday campaigns as well as compares performance with competitors. Also, Magento announced the companion 2016 Magento Holiday Benchmark to offer aggregated trend data cross a wide set of merchants. Both dashboard and benchmarks study are available immediately.
The main issue for retailers is the hardships in segmenting and profiling holiday customers that make targeting them an even greater challenge. With the holiday customers buying products as gifts intended for a completely different type of consumer, the usual customer insights based on buying history and behavior could be unreliable.
The issue of a potentially diverse customer base and unpredictable purchasing behavior over the holidays frequently results in a usually ineffective solution, such as the blanket promotional campaigns. As the name suggests, the blanket campaigns do little in capturing and retaining customers. Surrounding the central concern are the usual purchase behaviors, which could start to claw away profits. With consumers increasingly on the lookout for special offers and free delivery committing to a purchase, AOV’s could begin to fall short of acquisition expenses and eat away at margins.
The holiday season represents awesome customer acquisition as well as growth opportunity for merchants. But, if they’re not keeping an eye on the correct data, they could be caught up in the hype and negatively affect gross margins. With this dashboard, it becomes easier than ever for merchants to deploy strategies that are data-driven to grow the business before, during and well beyond the holidays.
Using The Holiday Dashboard
Customers of Magento development company, that use the Holiday Dashboard could compete better for and keep holiday shoppers via tuning the customer acquisition and retention spending plans. Based on the 2016 Magento Holiday Benchmark, on average merchants acquire 59 percent more customers during the holidays. However, since those customers purchase less and return less often, on average, they’re 13 percent less profitable. Thus, it is vital for merchants to have access to insights on how to best serve and market customers and to make other data-driven business decisions.
There are several key capabilities of this Holiday Dashboard that includes the following:
This Holiday Dashboard empowers merchants to take advantage of each and every opportunity during the holiday season.