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Predictive Analytics for E-commerce companies

Nishad Sharma, a Delhi-based entrepreneur, is a typical online shopper who keeps a tab on the various sales and promotional deals run by e-commerce companies from time to time. On the cool Delhi evening of February 4, he opened online fashion company Myntra’s app on his smartphone to see if there were any deals on trousers. That day, Myntra was running its Rush Hour sale in which customers Nishad Sharma, a Delhi-based entrepreneur, is a typical online shopper who keeps a tab on the various sales and promotional deals run by e-commerce companies from time to time. On the cool Delhi evening of February 4, he opened online fashion company Myntra’s app on his smartphone to see if there were any deals on trousers. That day, Myntra was running its Rush Hour sale in which customers could avail up to 50 per cent discount on select products. After filtering his search, Sharma decided to add a pair of UCB trousers to his shopping cart.

But then he changed his mind. Perhaps he could get a better deal if he logged on into a sale on a weekend. To his surprise, Sharma received a mail from Myntra next morning, telling him what he presumably lost by abandoning his cart the previous day. The same product was now available at a 100 per cent mark-up. To close the sale, the company sent another mail to Sharma a couple of days later, offering a smaller discount of 20 per cent. Sharma couldn’t let it go waste a second time round.

The systematic and gentle hounding of Sharma points at a big shift in the way e-commerce players target customerscould avail up to 50 per cent discount on select products. After filtering his search, Sharma decided to add a pair of UCB trousers to his shopping cart.

But then he changed his mind. Perhaps he could get a better deal if he logged on into a sale on a weekend. To his surprise, Sharma received a mail from Myntra next morning, telling him what he presumably lost by abandoning his cart the previous day. The same product was now available at a 100 per cent mark-up. To close the sale, the company sent another mail to Sharma a couple of days later, offering a smaller discount of 20 per cent. Sharma couldn’t let it go waste a second time round.

The systematic and gentle hounding of Sharma points at a big shift in the way e-commerce players target customers

More at The Strategist (Business Standard)

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