If you own an online store, you may be wondering: Why is ecommerce integration important? The term "integration" is likely something you've heard tossed around quite a lot. However, if you have yet to pursue it, you may be stuck trying to figure out how integration can help your business grow. Or, you may be struggling with the next best step to help you realize its benefits.
Once upon a time, the retail calendar centered itself on the Christmas season. Now, the retail surge is year-round. Not just the wave of traditional seasonal holidays from Valentine’s Day to the 4th of July, but also newer sales holidays, such as Cyber Monday, or even holidays created by some gigantic companies themselves, like Amazon’s Prime Day. Now, instead of a steady pace leading up to a frenzied December, retailers are in sprint mode all the time.
Our five key points: Value shoppers are the savvy buyers, the ones always on the lookout for the best deals and who knows where to find every discount and coupon. If you're an e-commerce retailer, the importance of understanding your value shoppers can’t be overstated. Consumers searching for a great deal will absolutely look elsewhere if they’re not impressed by your online offerings.
AUR stands for average unit retail. It gives you the average selling price of a product in a given time period. An important e-commerce metric, AUR is typically calculated quarterly. But why is it important? And how can you use AUR-in retail to boost your e-commerce business? Let’s take a look at this important business metric and how Integrate.io's data integration solution can help you bring all your e-commerce data and statistics together.
Ever since the pandemic hit, supply chain issues have abounded. Retailers bore the brunt of the news coverage, as shelves went barren for a host of reasons—not least demand shifts, panic buying, container shortages, and geopolitical concerns. These supply chain issues are estimated to have caused revenue losses of 5%–20% for some retailers. Often, once loyal customers switch brands or retailers rather than waiting months for products to come back in stock.
By tracking the average revenue per unit over a given period, AUR has become one of the most important metrics for e-commerce, department stores, and retailers of all sizes. Especially when compared with price intelligence, competitor sales, and other data, AUR helps retailers unlock crucial insights and even automate pricing strategies and inventory management, helping to drive more sales. Learn how Integrate.io can help you tap into metrics like AUR and how it can grow your business.
There is no doubt that eCommerce is a staple in the economy post-COVID, which is why omnichannel retail will continue to be a competitive advantage moving forward. Over the past decade, online shopping channels have transitioned from an attractive option to a requirement — but this is just the beginning. You can effectively collect, integrate, and act on customer data through greater business intelligence by implementing digital technologies into your overall retail strategy.
An organization can create revenue by monetizing its APIs. This retail digital platform strategy becomes extremely valuable when the APIs are used to build new products, create new business channels and new business models that generate income or other measurable value.