Top 5 Ways Online Retailers Can Use Competitive Intelligence to Drive Value

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Mining for data is a great way to get ahead of the competition. The task of mining can be a lot of work, but the effort is worthwhile. But what do you do with the information once it’s in your hands? You don’t want to be like a dog chasing its own tail, so determine a specific end goal to make the most of your data mining endeavors. Unlocking a goldmine of data can do wonders for your business, but…

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6 Steps Online Retailers Can’t Afford to Ignore

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Shoppers don’t want a mediocre, dated experience, they want one that will excite them and keep them coming back. This means you have to be on top of your game throughout the entire sales process. eCommerce can be divided into three categories: grabbing the consumer’s attention, convincing them to check out, and getting them to return to your store. These categories are made up of six simple steps to succeed in online retail. The steps revolve around data mining to…

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Drive the Bandwagon: How to Catch Assortment Trends Early

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Have you ever liked something before it was cool? And as soon as it got cool you had an “I told you so” attitude with all of your friends? This is normally the case in the music community for artists who are on their way to mainstream success. Billboard music has a ranking list for these artists, and it’s called “heatseekers.” If you regularly check this list out, you can get an inside glimpse at some artists who may become…

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The Top 3 Ways Competitive Intelligence Helps Your Inventory Fall into Place

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With the holiday season around the corner, your assortment strategy needs to be on point. With eCommerce expanding to become a $334 billion industry, this holiday season is expected to be huge, so preparation is key. This illustrates the importance of competitive data and assortment intelligence in the inventory planning process. Our latest infographic has the information you need to maintain an optimized inventory to maximize sales. Big data has become crucial in merchandising. According to Monetate, 62% of retailers…

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How to Improve Your Assortment with Best Seller Assortment

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Traversing the eCommerce landscape is like steering a ship across the Pacific Ocean. There are plenty of obstacles to overcome, shoppers can be far apart, and you want to carry the right amount of supplies. You should have enough to help you successfully voyage the wild seas, but too much can cause your ship to sink or be slowed down. In online retail, you want to optimize your product assortment. That means that carrying the right products at the right…

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