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Preparing for Peak: Are You Ready?

After months of uncertainty, rollercoaster sales and seismic shifts in consumer buying behaviour, it’s time to focus on the annual retail sales fest – peak trading.

With the pandemic having driven many shoppers to online, this may very well be a “step shift” in retail sales. A new group of shoppers are more comfortable purchasing online—driven to do so out of necessity. These new online shoppers are likely to continue to do so—now out of preference.

Join the Lucidworks retail team and learn 5 things retail brands are doing now to maximise peak trading performance in the shadow of the pandemic.

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Preparing for Peak: Are You Ready?

  1. 1. 1 Preparing for Peak Trading H O W T O P R E PA R E F O R T H E M O S T C R I T I C A L T I M E O F T H E Y E A R Tuesday, August 11, 2020 Peter Curran – Peter.Curran@lucidworks.com Garrett Schwegler Garrett.Schwegler@lucidworks.com
  2. 2. 2 Today’s Speakers Garrett Schwegler Program Manager, Digital Commerce Peter Curran General Manager, Digital Commerce
  3. 3. 3 Preparing for Peak Trading H O W T O P R E PA R E F O R T H E M O S T C R I T I C A L T I M E O F T H E Y E A R
  4. 4. 4 Preparing for Peak Trading H O W T O P R E PA R E F O R T H E M O S T C R I T I C A L T I M E O F T H E Y E A R
  5. 5. 5 Agenda • What to Expect for Peak Trading 2020 • Edge Out the Competition • Q&A
  6. 6. 6 What to Expect P E A K 2 0 2 0
  7. 7. 7 What to Expect P E A K 2 0 2 0 = E X P L O S I V E G R O W T H
  8. 8. 88 S O U R C E : I M R G • Pressure • Competition • Opportunity Covid Impact on Sales
  9. 9. 99 • Expect Explosive Growth for Peak Trading 2020 S O U R C E : E M A R K E T E R J A N 2 0 2 0 Step Shifts in Commerce
  10. 10. 10 Peak Readiness H O W T O P R E PA R E F O R T H E R U S H
  11. 11. 1111 CUSTO ME R ACQUIS ITIO N PRO D UC T D IS COV E RY CHECKO UT F ULF ILLME NT Commerce Funnel
  12. 12. 12 Peak Trading Components Traffic SEO / SEM Email Product Discovery Tuning Search Recommendation Models Personalisation Checkout Payment Options Guest Checkout Chatbot Customer Service Product Discovery Analysing Dispositions
  13. 13. 13 Edge out the Competition N E W A N D P R O V E N P R A C T I C E S T O W I N T H I S P E A K S E A S O N
  14. 14. 14 • Push the Budget Further • Leverage Signals and ML • Reduce Cost per Click • Drive Higher Intent Traffic • Improve ROAS Optimise Search Engine Marketing Tail Keyword • High Rise Yoga Tights • Yoga leggings with pockets • 7/8 stretch leggings
  15. 15. 15 Scorecarding • Manually score top search results, identify themes, solve for themes, score again NDCG • Measure engagement, optimise algorithms, measure again Quepid • Automated evaluations across unlimited number of queries Fusion ML Jobs • Automatically analyse and improve and in real time Tune the Search Engine
  16. 16. 16 • Quality Type Ahead Suggestions • Personalised Results • Relevant Content • Engaging Recommendations • Chatbots Deliver the In-Store Experience
  17. 17. 17 Enhance Your Chatbot Experience Staff-Up Virtually with Lucidworks Smart Answers • Customer and Product Support • Reduce Operational Costs • Scale Surges • Crowdsource Feedback • Support Voice and NLP
  18. 18. 18 Fulfillment Flexibility • Exceed Shoppers Expectations • Play to Strengths • Manage Expenses
  19. 19. 19 Learn More R E A D T H E B L O G S When In-Person Shopping Isn’t an Option H T T P S : / / L U C I D W O R K S . C O M / P O S T/A C T I O N A B L E - E C O M M E R C E - M E T R I C S / Building a Strategy for Retail: Navigating the Next 12 Months H T T P S : / / L U C I D W O R K S . C O M / P O S T/ C O V I D - R E TA I L - S T R AT E G Y/ Strategic Ecommerce Initiatives Apparel Companies Should Implement for the Holiday Rush H T T P S : / / L U C I D W O R K S . C O M / P O S T/ S T R AT E G I C - E C O M M E R C E - I N I T I AT I V E S - H O L I D AY - R U S H / C O N TA C T U S : H T T P S : / / L U C I D W O R K S . C O M / C O N TA C T/ Check out these resources to learn more!
  20. 20. 2020 Audience Q&A ?
  21. 21. 21 THANK YOU

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After months of uncertainty, rollercoaster sales and seismic shifts in consumer buying behaviour, it’s time to focus on the annual retail sales fest – peak trading. With the pandemic having driven many shoppers to online, this may very well be a “step shift” in retail sales. A new group of shoppers are more comfortable purchasing online—driven to do so out of necessity. These new online shoppers are likely to continue to do so—now out of preference. Join the Lucidworks retail team and learn 5 things retail brands are doing now to maximise peak trading performance in the shadow of the pandemic.

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