According to a recent study, worldwide e-commerce sales are forecast to more than double by 2023 . Consumer demand for e-commerce is growing rapidly, but are small and medium sized businesses increasing their e-commerce capabilities at the same rate in order to meet this demand?
The businesses that are likely to succeed in the long run are the ones that will be able to, not only bring customers to their stores, but use e-commerce effectively to convert one-time buyers into loyal customers.
So how can you improve your e-commerce strategy to give your customers the best possible shopping experience, guaranteeing repeat visits? The answer can lie in the data science behind our platform.
eCommerce transactions generate data, not only via your customers’ purchase history but also via the products they viewed or their abandoned basket.
This data can be used to drive a higher rate of sales, while delivering a better online shopping experience for your users.
Most small or medium-sized e-commerce businesses tend to simply ignore their data as they have neither the time to analyze it properly themselves, nor the budget to deploy a team of data scientists to unlock the potential that their data contains.
As one of many examples, Amazon reported a 29% sales increase after implementing its product recommendation engine .
At Machine Labs, our mission is to help small and medium sized businesses like yours stand out from the crowd by giving you access to the technology that the bigger and most successful stores are using.
We combine machine learning and statistical models to distinguish useful information from the noise of big data.
Take advantage of the hidden gems in your data to deliver a tailored experience to each of your individual customers.
Do you want to identify your most profitable customers and recommend products that best fit individual customers’ needs? Would you like to suggest products that particular customers want but can’t find?
We make it simple for you to achieve this goal with no coding skill or marketing experience required.
We’ve done the hard work so you can focus your energy on making high impact decisions for your business, with the right information at hand.
Stay tuned, these features will be available soon.