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Be Sale-Ready: Stock it up to score big on the Black Friday & Diwali Season Sale

Is it too early to talk about it? Is It? Not Really! Time is running out! To a shopper, it may seem like a couple of days of sale but for brands the preparation begins at least a month early, we have already entered the festive season followed by a mega season sale on Amazon, Flipkart, and Myntra building up to the Diwali Weekend. Every brand must be aware of who, when, and where to target and what their competitors are up to. The path to score big on sale event season is not easy. Black Friday sales globally broke records in 2022, shoppers in India increased their orders by 65 percent as compared to 2021 and their spending by 64 percent during the sale week compared to the usual period. And new milestones are expected to be set in 2024. So, what are we waiting for let’s dive deeper to understand the challenges on event days and how brands can make optimal use of these opportunities during the sales season and beyond. Identify the event days to target Every eCommerce platform has different reach and preferences. Knowing where you more picked up and where you need to target is key to optimizing your marketing strategies. Event days like Black Friday and Diwali sales witness a rapid increase in order volume. Brands need to identify the gaps in the market during these event days and target ads & promo offers to reach new shoppers. Every platform has different shopping patterns and different event days, therefore brands need to keep up with platform-specific requirements. Every year consumer activity is dispersed more evenly throughout the sale period and is less focused on just Friday. A lot of companies extended the sale period to include the days leading up to and following Black Friday till the following Monday known as Cyber Monday. Even Indian festive season sale runs before the Diwali week with product expected to be delivered before Diwali. Shoppers are always eager to take advantage of the limited-time deals, which results in a higher number of orders within a short period. Brands need to ensure their systems can handle the increased load and that their logistics are well-equipped to manage such a surge in orders. Amazon Great Indian Festival 2023 witnessed a record 9.5 crore customer visits within the first 48 hours. 80 percent of the shoppers were from non-metro cities. Source: Amazon India Match product demand with Order Fulfilment One of the critical aspects of these event days is ensuring efficient order fulfillment. Brands need to ensure that they have enough stock available in their warehouses to meet the increased demand during the sales period. Having the right amount of inventory is crucial to avoid stock-outs and ensure customer satisfaction. Also maintaining a well-stocked warehouse is essential to cater to the surge in orders during these events. Brands need to anticipate the demand and stock their warehouses accordingly to prevent any inventory shortages. Keep Track of In-stock and out-of-stock items: Brands must keep real-time track of their stock status, in-stock product availability tracking, and monitoring when & where the products are going out of stock. The stock situation is key during the festive season. Brands must keep track of the trends to set promo offers and match stock to meet expected demand. Monitor Price & Promos trends: Brands must be aware of key trends across marketplaces and what competitor brands are targeting. For example – In 2022, low ticket purchases and demand for unbranded fashion products from Tier-II towns and beyond propelled Meesho ahead of Amazon in terms of order volume (Source: Redseer Report), but Amazon sold items of higher values during the same period with massive rise in numbers. Flipkart and Amazon together clocked 88% of $5.7 Billion GMV during the first week of the festive season. With strong positioning in the fashion segment, the likes of Myntra and AJIO earned good numbers. Finding the right balance between pricing and volume is crucial. Offering attractive discounts and deals can drive higher sales volumes, but brands need to ensure that they don’t compromise their profitability. Strategic pricing strategies can help achieve this balance. Keep Track of Industry Trends The success of these event days often relies on the performance of specific product categories. In this context, mobile phones have consistently been a leading product category during festive season sales. They attract a significant share of the Gross Merchandise Volume (GMV), indicating strong demand. The fashion segment also plays a substantial role in driving sales, appealing to shoppers looking for clothing, accessories, and related products. For example, in the consumer durables industry, products like electronics and appliances see increased demand during these events. Similarly, the gifting industry, which includes items like cookies and chocolates, experiences a boost in sales as people often buy gifts for their loved ones during festive seasons. Optimize Sponsored Banner (Season specific): eCommerce ad banner performance is key to upswing sales during the festive season. Brands must keep track of banner keyword performance, display targeting, and category targeting. Using season-specific banners and advertisements helps brands grab the attention of shoppers who are actively looking for deals during these events. Ensure your banner theme and keywords are compelling and drive more traffic to their online stores. Final Thoughts The eCommerce event days open new opportunities for brands to boost their sales and engage with customers. This is the moment when brands also extend their reach and are able to attract new shoppers. Identifying gaps in competitors and taking timely advantages is key to excel in the competitive landscape. Also, strengthen your strategies with a data-driven approach. Business intelligence gives brands a much-needed edge during aggressive shopping bonanzas. Proper planning, inventory management, effective pricing strategies, and appealing marketing campaigns are essential to making the most out of these opportunities. mScanIt, digital commerce intelligence can pave the road map to navigate through the challenges of season sales and beyond. Actionable insights and in-depth analysis on PIs (Key Performance Indicators), availability, pricing, keywords share, Product detail

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optimize-category-pages

Why do Brands Need to Optimize Category Pages – Browse Share of Products?

The rules of the game remain the same. Just the battleground gets shifted from the home page to the category page on the eCommerce marketplaces. Brands often pay less heed to what goes on the category page. The key focus area of the brands remains to be getting more discoverable on keywords and optimizing the Product Detail Page (PDP) performance. Yet banners on the home and category pages remain a key focus as brands spend heavily on them and drive most of the purchases. Let’s dig deeper into why category pages are so important and find out why brands need to keep a close eye on the eCommerce banners of their brand and competition. Why Do Brands Need to Monitor Category Pages? Brands need to monitor category pages to make sure their products are present for shoppers looking to shop under a specific category. Most of the online marketplaces on the main category page publish dynamic banners featuring enticing offers and exclusive products. These banners take shoppers to brand-specific pages or the product on the eCommerce platform. It displays what the brand has to offer. Here are a few things that brands need to monitor: Browse share of the brand on category pages: Monitoring the browse share helps brands understand how often their products are being viewed or browsed by customers within a specific category. It provides insights into the brand’s visibility and popularity compared to competitors. By tracking the browse share, brands can identify trends, measure their performance, and make data-driven decisions to improve their market position. Tagging of products: Categories and subcategories serve as organizational structures for products on e-commerce websites. Proper tagging ensures that products are correctly grouped and displayed within relevant categories, making it easier for customers to find what they are looking for. Monitoring the tagging of products helps brands ensure accuracy and consistency, which enhances the overall user experience. It also helps prevent instances where products may be misplaced or hidden within incorrect categories, potentially leading to lost sales opportunities. Category Page Banners: Banners on the category page are the best way for shoppers to get an exclusive look at offers in categories and sub-categories. The offers on the banners lead the shopper to brand a specific collection of products. These banners offer products featuring Blockbuster deals, Top offers, Hottest trends, etc. Perks of Monitoring Category Pages By monitoring category pages, brands can optimize their product placement, identify opportunities for improvement, and enhance discoverability. This, in turn, can positively impact their visibility, conversion rates, and overall customer satisfaction. It also allows shoppers to check out more products from the brands. Let’s elaborate a bit on some of the key perks. Banner Placement Banner placement on the category page is crucial for attracting shoppers’ attention and driving engagement. Ideally, banners should be prominently displayed at the top of the page or in a visually prominent location that ensures shoppers easily notice them. Placing banners strategically, such as above the fold, can increase visibility and click-through rates. Tracking Banner Presence vs Competition When considering banner presence compared to competitors, it’s essential to ensure that your banners stand out and provide a unique value proposition. Analyze what your competitors are doing in terms of banner design, messaging, and offers. Aim to differentiate your banners by offering exclusive deals, showcasing popular products, or highlighting unique selling points that set your brand apart. Promo Offers & Pricing Strategy Promo offers and pricing strategy should be aligned with the objectives of the banner campaign. Determine the specific offers you want to promote through the banners, such as blockbuster deals, top offers, or trending products. Consider competitive pricing strategies, such as discounts, bundles, or limited-time promotions, to entice shoppers to click on the banners and explore the brand-specific collection of products. Automate Banner Performance Monitoring To ensure banner effectiveness, it’s important to monitor their performance regularly. Consider automating this monitoring process via digital commerce intelligence – banner analysis that provides real-time data and insights. Regularly analyze the performance data to identify areas of improvement and make data-driven decisions for optimizing banner performance. Identify Keywords Brands need to identify if banner keywords resonate with their target audience. Search terms and keywords related to the category, sub-categories, and brand must be monitored regularly. Incorporate high-performance relevant keywords into the banner copy, headlines, and calls-to-action to increase visibility. This can improve the chances of your banners appearing in relevant search results. Strategy for Theming Model The theming model for banners on the category page should align with the overall brand identity and the specific theme of the category. Consider factors such as seasonality, trends, or special events when planning the banner themes. Create visually appealing and cohesive designs that match the overall aesthetic of the category page. Additionally, ensure that the theme aligns with the targeted audience’s preferences and interests to maximize engagement and conversions. Final Thoughts The category page on the eCommerce platforms holds value for brands as it puts them face to face with their competitors in terms of promo offers, best best-selling products and takes the interested shopper to their brand-specific page where it may end up buying more from the brand. The core competency that the brand needs here is to optimize banner performance. Monitoring category pages and enhancing the browse share opens the opportunity for brands to take the shopper to an exclusive brand page. Brands need to ensure their brand banners do not get lost among the flurry of banners on the category page. The browse share of the brand needs to be measured across categories, subcategories, and variants.  Contact us to know how your brand can optimize product performance with mFilterIt, digital commerce intelligence.

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