The eCommerce industry is advancing rapidly and is turning out to be the next battlefield for conventional retailers. These days consumers are getting busy and they expect brands to be available online to make shopping convenient.
Retailers have acknowledged this need and have started to make their presence online using eCommerce platforms like Magento, Shopify, BigCommerce, etc.
As we all know, with the fast-growing online market, retailers are strongly competing against each other. The audience is common and each retailer wants to attract visitors to their online store & convert them. Having a diverse product catalog by itself is not going to help win customers unless you are able to effectively merchandise your online store.
What consumers see online, influences what they buy. The lack of data-driven product sorting at these online stores is increasing the cost of customer acquisition, as more visitors leave the stores without buying.
Tagalys is one of the leading products in the market for predictive online visual merchandising, which helps retailers automatically detect products that are trending to increase CTR & conversion rates.
Product Listing Pages in eCommerce stores
eCommerce Product Listing Pages are the online aisles through which visitors discover and purchase a product.
They are called category pages in Magento & BigCommerce or Collections in Shopify. This channel accounts for approximately 56% of product discovery within an online store. Site Search and Product Recommendations account for the remaining share.
Hence Category pages have a great potential in driving up the conversion of eCommerce stores. But over 80% of visitors will drop off after 3-page scrolls of any category page at an online store.
Challenges with Magento & BigCommerce Category pages and Shopify Collections
Most retailers use simple sorting mechanisms like "Sort by date", "Sort by Position", "Sales" etc., which is less effective to grab the visitor’s attention.
It is essential to entice visitor's interest within the first three page scrolls to achieve conversion.
In Magento, Shopify, and BigCommerce eCommerce stores, merchandising these category pages is a time consuming and laborious task. For stores with many products, it is humanly impossible to pick the best performing products or predict if a new product is likely to sell well in the future.
Also, small-sized eCommerce retailers will find it difficult to use their productive resources to manually merchandise the pages. The inability to predict which products are most likely going to perform, based on past engagement data, impacts the conversion rate of the store.
How can data-driven Product Sorting make a difference in conversion?
Online visitors are always quick and they expect to view their desired products among the top results.
Also, mobile visitors do not prefer to keep scrolling, due to lack of online real estate. The top 100 products displayed on any page influence the CTR (Click-Through-Rate) and conversion rate.
Hence dynamically displaying the products (old or new) that are more likely to sell has the maximum impact on conversion.
Tagalys Product Sorting - Advantages and Applications
By default, the products in Tagalys merchandised pages are sorted by the trending score. This is a dynamic score and is based on the overall performance of the product and its tags across the last 30 days.
In Tagalys, the conversion-optimized dynamic score is called the ‘T-Score’. This means that the products are automatically sorted in an order that is more likely to sell.
As over 80% of visitors click on products on the first 3 pages, T-Score sorting increases the CTR of the page as trending products are displayed on the first page.
This increase in CTR & reduction in page bounce rate improves the page ranking in web search engines.
(Conversion Optimised Dynamic Sorting in Tagalys)
Tagalys Performance in Magento eCommerce stores
Leading Magento retailers across all verticals on an average have recorded a conversion improvement of 25% upwards by using Tagalys. The Tagalys merchandised pages also attract more traffic to the store as they are dynamic in nature.
Tagalys maximizes conversion rate & gives merchants visual control of products displayed in Site Search & Category pages at their online store. To know more about our solutions and features, get in touch with us now.
Also, do check out this video about eCommerce Merchandising from our CEO, Antony Kattukaran
[embedyt] https://www.youtube.com/watch?v=Z4DGAvhm5Wc[/embedyt]
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