Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.Sun Tzu, The Art of War, 512 BC
The traditional business success blueprint could go sideways when it comes to eCommerce. Common wisdom, since Sun Tzu’s time, has put more emphasis on strategy over tactics. However, for eCommerce success, strategy needs to be just about 10% to provide the direction while 90% focus needs to be on tactics and execution.
This is because of two factors which make eCommerce quite different from any traditional business.
You are an open book: All your strategies and actions in eCommerce, be it your pricing, product assortment, channels, promotion, are very transparent to both your customers and competitors.
No friction for your customers to move: It is as easy as one mouse click for your customers to move away from your offering, and at the first impression of irking mediocrity their fingers hit the mouse.
The online world is a 24/7 game with a level playground, with competitors ranging from big corporations to small mom & pop stores who are constantly disrupting the field. With the right tools, the smart retailers can use the same information to up their game with both tactics and execution.
A new interesting line of solutions called Digital Shelf Analytics (DSA) has evolved to manage this area of eCommerce. Gartner predicts DSA will be a key digital commerce driver for the future. Digisense360 is our own DSA solution for solving this problem for retailers and brands.
The Covid19-induced new normal has driven eCommerce to an eye-popping new trajectory. The projected growth of 10 years has come in just 3 months of 2020, according to a Mckinsey Analysis. This is not a temporary phenomenon which will go away once the Covid fear passes. China, which was the first to be hit, and the first to get back to normal life, has seen a big, irreversible demographic behavioural shift that continues to drive ecommerce growth. According to WD Partners, eCommerce sales volume will overtake physical retail by 2024 in the US.
So eCommerce is certainly a promising industry to be in over the next few decades. In any large and evolving industry, every business can find its niche for growth if it is open to changes and evolving technologies. The big ‘If’ is, can the smaller businesses move fast to adopt the right technology and business process changes to take a piece of the pie. In fact, with the right technology aids, the nimbleness of smaller players can be a competitive advantage in this fast growth area.
Once you have your strategic positioning and your target customer segment, you need to have a 360 degree view on who your competitors are, and what’s driving your target segment’s buying behaviour.
One of the challenging as well as opportunistic aspects of eCommerce is its ginormous scale – you can have an ‘endless aisle’ of products (you don’t necessarily have to hold inventory) and literally an entire world of customers (you don’t necessarily have to own the logistics to reach them). A defining feature of the modern eCommerce industry is the use of automation which makes it possible to compete with the big guys on an equal footing.
It is exactly to monitor, measure and manage your eCommerce challenges and opportunities that Mobius has launched its Digital Shelf Analytics product DigiSense360. It is an automation-based eCommerce assistance platform that keeps you close to your customers and one up over the competition. This is how it helps:
It has also worked on the Marketplaces and Shopping Engines who’s who, the likes of Amazon & eBay (in multiple geographies), Google Shopping, various European and APAC marketplaces as their back-office services provider since 2002. During these engagements, Mobius has built significant expertise and proprietary technologies which form the base for DigiSense360, giving you a dependable and insightful tool to keep you on top of the online world.
Keeping your eCommerce requirements in mind, DigiSense360 is designed to suit every venture’s need and budget. Get a 30-day free trial on booking a demo, a great chance to have a close look at our features and functionalities.