Gone are the days when just developing a product or starting a business was enough. Nowadays, you need to interact with your customers and keep them happy. One way to do that is by giving them a voice. The feedback that you get from them, the suggestions you receive, the customer perceptions you understand can…More
How to Conduct Secondary Market Research for your Business
Last Modified – September 13, 2021 In a previous post, we looked at conducting primary market research and now we look at secondary market research. While primary market research involves interacting directly with the target audience of a business, secondary research involves accessing data published by others about the market. Both are part of market…More
What are Open Source Ecommerce Platforms?
E-commerce platforms, i.e., software that you can use to set up your ecommerce business, come in two forms. Firstly, there is proprietary software where you pay for a license to use it. Secondly, there is open-source software that you can get for free and where you have access to the underlying code. Proprietary software can…More
Conducting Primary Market Research for your Business
Last Modified – Sept 11, 2021 This post on conducting market research for your business is a follow up to our previous post in which we discussed the significance of market research. Without market research you might enter a business and then find that you may find it challenging sell in profitable volumes. Without profits,…More
Factors to Consider before Investing in Market Research Service
Is there a new product you are thinking of launching? Something that you think will be the star product of 2021. Or maybe you’re thinking of entering into a different kind of target market. Or you just want to know why your sales are dwindling while your competitor seems to be doing just fine. Market…More
Omnichannel Commerce Explained
As competition grows, retailers start exploring new ways such as omnichannel commerce, mobile, different channels, and social to improve sales. However, no two channels interact with one another to provide a personalized and seamless buying experience. According to The Future of Customer Engagement and Commerce website, this is the case with multichannel commerce which has…More
Difference Between Headless Ecommerce and Traditional Ecommerce
Many eCommerce businesses explore different options to bring effectiveness in their operations. While traditional eCommerce platforms enable an entrepreneur to start a website, it is essential to understand which type of solution will suit the most. Another option is headless eCommerce. As traditional and headless have their own pros and cons, it is essential to…More
Retail Customer Journey is Changing. How do you Adapt?
What is a Customer Journey? If you find that there is no bread, you go out to the nearby store and get it. Here the retail customer journey is simple. The customer felt a need, knew where to go to meet it, and went and got it. Not all customer journeys are that simple, particularly…More
A Look at the Experiential Luxury Market
The number of wealthy people has been increasing over the years. Currently, the number of high net worth individuals is estimated globally at 12.7 million. These people own $46.2 trillion of assets. The number of very rich (with assets between $5 million and $30 million individually) was 2.67 million as of 2019. The very rich…More
Digital Transformation in Retail – Examples
When you hear ‘digital commerce’ or ‘e-commerce’, the image that emerges in your mind could be online marketplaces like Amazon or Alibaba. Retail digitalization is leading to a transformation that helps traditional brick-and-mortar stores to compete successfully in different ways. Unlike many predictions, the arrival of online stores has not led to the disappearance of…More
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