E-commerce management *

This is a translated and adopted article I wrote for the Aha'22 (30 May 2022) conference. It describes an approach to a marketplace prices optimisation. Here I've outlined some important definitions and tried to define the scopes and roles of ML, algorithms, and humans in optimal pricing. Although the article covers rather basic things, still, you can find out some new formulas and ideas, because these basics are somewhat "well-known only in a very closed clubs", and besides, the real gem found here is the detailed recipe for ML engineers how to build optimal pricing systems.

The e-commerce market in 2022 leaves entrepreneurs no choice but immediately incorporate new technologies. Today it is not enough to follow the latest trends, because you need to be two steps ahead. How to do it?

Consumer behavior has changed, especially since this pandemic. You get used to good things quickly, so online shopping and fast delivery services made us all appreciate our time and comfort.

You have to pay for everything in this life, so retailers and marketplaces have to pay for the growth of demand and profits in the field of e-commerce by regularly introducing new technologies, fighting for consumer loyalty, and rivalry in endless competition.

Here are a few of the latest e-commerce trends that cannot be missed if you want to achieve stable profits and customer growth.

All attention to CRO

On average, online store users make 64 clicks before adding a product to the cart. Some clicks are useful - so-called discovery clicks that help lead to users finding a product they wish to buy, and some are useless that come as the result of poor UX. With great competition for convenience and increasingly reducing attention spans of users, each useless click reduces the number of visitors that will reach checkout.

When a company decides to build a marketplace, one of the most critical issues to solve is building interaction between all operational processes.

You need a system where you can manage and exchange customer, partner, and order data. Often the back-office of a marketplace consists of a complex of systems. However, we have been working with marketplaces for many years and have come to the conclusion that the integration between back-office systems should be seamless. At least between 6 fundamental parts. Thus, we have created the Scallium platform, where the business manages the processes of the marketplace.

An eCommerce platform empowers startups, SMEs, and large enterprises to manage multiple online business processes such as website, marketing, sales, and operations.

The top eCommerce platforms handle online business tasks efficiently, and this finally helps enterprises in expanding their productivity.