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Category | Collection merchandising use cases for your Magento, Shopify & BigCommerce stores.

Varun
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April 12, 2023
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Min read

The Evolution of KYC

KYC is a fundamental regulatory requirement aimed at preventing money laundering, fraud, and identity theft. Historically, KYC involved manual verification processes that required customers to submit physical documents, leading to delays and potential errors. The advent of digital KYC has transformed this space, enabling faster, more accurate, and seamless verification processes.

Image courtesy of Vlada Karpovich via Pexels

Vision and Approach

Neokred is at the forefront of this digital transformation, offering cutting-edge solutions that simplify and streamline KYC procedures. Their approach is rooted in leveraging advanced technologies such as artificial intelligence (AI), machine learning (ML), and blockchain to create a secure, efficient, and user-friendly KYC process.

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”

Key Features of Digital KYC Solution

  • AI-Driven Verification
    Neokred uses sophisticated AI algorithms to verify customer identities in real-time. By analyzing patterns and detecting anomalies, AI ensures that only genuine documents are accepted, significantly reducing the risk of fraud.
  • Seamless User Experience
    The platform is designed with the end-user in mind, offering an intuitive interface that guides customers through the verification process effortlessly. Users can upload documents, capture selfies, and complete verification steps from the comfort of their homes.
  • Blockchain Security
    Blockchain technology enhances the security of KYC data by creating an immutable ledger that is resistant to tampering. This ensures that customer data is protected and can be audited with transparency.

Success Stories

Neokred is at the forefront of this digital transformation, offering cutting-edge solutions that simplify and streamline KYC procedures. Their approach is rooted in leveraging advanced technologies such as artificial intelligence (AI), machine learning (ML), and blockchain to create a secure, efficient, and user-friendly KYC process.

Conclusion

Digital KYC solution represents a significant leap forward in the way businesses approach identity verification. By harnessing the power of AI, blockchain, and seamless integration, not only simplifies the KYC process but also enhances security and compliance. For businesses looking to stay ahead in a competitive market, embracing innovation could be the key to unlocking greater efficiency, cost savings, and customer satisfaction.

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Example H2
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Displaying the trending products in the eCommerce store is crucial to engage visitors to make a purchase. The bulk of traffic on eCommerce stores lands on category | collection pages. Data says this is the funnel that contributes to most of the product discovery apart from Site Search & Recommendations.

By organizing a listing page in a systematic way and strategically, the retailers can make the entire browsing experience of visitors visual and keep them engaged on the page a longer. The more products they view, the more likely they are going to make a purchase.

Take a look at these 4 Must-try merchandising tips for your category | collection pages that make the most out of your retail space.

Strategic Pinning of Hero Products:

Every category | collections will have a few products that the business wants to promote which are otherwise classified as “Hero Products”. This could be their bestsellers or newly introduced products, or some products they want to showcase. Many a time retailers would want to pin these products on top of their category | collection page or at in certain positions which they deem fit for a particular duration or forever. Without a merchandising tool, this has to be managed manually and requires constant intervention.

With Tagalys, retailers can easily pin products on top or at any particular position of a page. With an intuitive drag and drop interface, retailers can make changes as they go and preview it instantly. The scheduling feature gives complete control over the duration of the pinning.

(In the image below, Product 2, 4 & 6 are pinned to make a set of shirts & pants).

Dynamic Promoting of Products (Boosting):

Online retailers prefer to promote products with certain strategies. It could be promoting certain product types, colors, price points, etc.  Some retailers promote products to bring attention to a brand or a specific product when it is first released into the market or when they decide to feature a product after it’s been launched.

Retailers often find it challenging to manage their promotions, as they would have to manually push them to the top whenever products match their strategies. This becomes hectic especially during SALE and festive seasons leading to human errors and inefficiency.

(In the image below, products that are on ‘sale’ have been given a boost to push them on top)

Promoting products can be done seamlessly using Tagalys. Ie. they can be made dynamic and time-bound. Tagalys provides two options in promoting products.

  1. Promoting products locally inside individual categories or collections
  2. Promoting products across all categories or collections

With Tagalys, retailers could modify the product ranking by defining scores based on their business insights or performance data.

Demoting Products:

Similar to promoting products, retailers would also have use cases to demote or push products to the bottom of a category or collection. Most often retailers demote products that they think are less likely to sell. And they also demote products that have lower profit margins or products that are in discount. One other common use among retailers is to demote products that are sold out.

Demoting the products manually is a time-consuming process and is not scalable. Hence using merchandising engines like Tagalys helps them manage demoting products efficiently. Retailers can automatically have those products moved at the bottom of the page whenever the conditions are satisfied.

Using Tagalys demoting products can also be done locally within an individual category or across categories.

(In the image below, products that are ‘out of stock’ have been pushed to the bottom of the category | collection page)

Sequencing Products:

Every visitor in an online store is looking for variety and options to choose from. Let’s say you have 100’s of products for women’s tops with various color patterns. You want to show every 4 products with a different color of tops. Doing this manually would take up your entire day and if you are a large online store applying this to various collections and hundreds of products is challenging.

(In the image below, the first 4 products are sequenced to be ‘White Tops’ followed with the next 4 products to be ‘Black Tops’ and ‘Green Tops’)

With Tagalys retailers can sequence up their pages with few conditions (Color, Pattern, Inventory, New Arrivals, Bestsellers, Conversion %, etc) and it would be displayed dynamically whenever products match the sequence

Tagalys allows merchants to maximize CTR & gives them visual control of products displayed in Site Search & Product listing pages at their online store. There’s also a lot more you can do with Tagalys as a Merchant. Sounds exciting and you would like to learn more? Book a Free Demo today with us today.

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