Back in July, we gave you a quick run down of our top ten definitions within the online merchandising space. This week we’re giving another installment to help any keen eCommerce retailers out there, who want to brush up on their facts, to help you learn how to increase your online sales, conversion rates and overall eCommerce performance.

1. Behavioural Re-targeting: Behavioural Re-targeting is a technique used by online publishers, retailers and advertisers to re-target users who leave their websites without making a purchase. It’s a great area of potential for retailers in increasing those conversion rates.
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2. Cart Abandonment: Cart abandonment is when a visitor initiates your checkout process but leaves before completing their purchase. For online businesses with their main goal of selling products, shopping cart abandonment can mean the difference between profitability and loss. A way to combat this is with Behavioural Re-targeting.
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3. Facets: As part of the online search process, facets allow users to browse, search and refine their choices using options such as: Category, Brand, Price-range, Colour, Size, Manufacturer etc. Facets are dynamically created from the product data-set, and there are many ways to manipulate these to your gain as an eCommerce retailer.
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4. Up-Sell: A sales technique whereby a salesperson or system induces the customer to purchase more expensive items, upgrades, or other add-ons in an attempt to make a more profitable sale. With Locayta, you can look at implementing Product Recommendations to increase basket order values.
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5. Weighted User Journey: Freestyle Merchandising® uses behavioural merchandising algorithms to provide recommendations in real-time based on users’ behaviour on your site; this uses the actions of the customers to develop a tailored user journey to enhance conversions.
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6. Auto-Complete: A customised predictive search tool, also known as, ‘type ahead’ capability, suggesting relevant search terms as the user starts to type their query into a search bar within an eCommerce site. This can help encourage purchases and increase conversions.
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7. Customised Merchandising: A collective intelligence capability, tailoring online sales strategy to the on-site user. This makes use of behavioural merchandising, tracking user behaviour to optimise results from a user visit.
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8. Intelligent Navigation: Locayta Search results are provided within a “Guided Navigation” framework on the web-page, displaying the relevant refinement options (“Facets” see above) available to the user and allowing them to drill-down using those refinement options. This enables the purchase helping users find what they are looking for.
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9. Visual Merchandising: Visual merchandising (also known as “VM”) is the art of displaying merchandise to maximise online sales and has been proven to increase conversions ans basket order values.
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10. Collective Intelligence: Collective intelligence is a shared intelligence that emerges from the unconnected collaboration of users on a website. Locayta’s technologies learn from these and develop merchandising solutions using such intelligence.
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