How do you become the first choice for customers shopping online?

The E-commerce industry has been growing at a phenomenal rate, and it has been imperative to acquire new customers and retain existing customers for stable top-line growth. With growing competition, customers have multiple options to buy from, which makes it important for E-commerce players to have enough SKUs in addition to competitive pricing to gain the market share.

The client was facing decline in revenues and realized the need for analyzing selection gaps as compared to their competitors.

The managers were manually tracking the SKUs and analyzing the gaps to ensure that they had parity to offer in terms of selection across all the departments to build this as a long-term lever for the customers. However, manually tracking the competition’s selection was time-consuming and irrelevant for an industry that required agile decision-making.

Since the width of selection is one of the key drivers of customers’ consideration set while buying online, the client was looking for solutions that would provide them insights pertaining to selection gaps.

Assortment intelligence for bridging selection gaps

Flipkart Commerce Cloud’s competitive pricing solution was able to provide important insights to the client on selection gaps and map the selections that were common and exclusive to the client’s own website as well as to the competitor’s website.

The solution also recommended the sellers who offered the differential selection. These insights assisted the client in planning Go-to-Market (GTM) strategy for marketplace teams as they onboard the sellers to bridge the selection gap.

With the automated crawling mechanism of the solution, the client received timely insights and could accordingly plan the strategy to either add new SKUs or leverage the exclusive SKUs in their portfolio. Moreover, the solution’s intuitive UI allowed the information to be directly shared with buying managers so they could act with agility.