Prepare your E-Commerce Business for Q4
When the entire world was forced to shut down due to a global pandemic, the spotlight steered towards the E-Commerce industry. These companies then gained a once in a lifetime opportunity where consumers had to resort to online shopping for the most basic things. Though the businesses had to spare an initial amount to adapt to the situation, their unprecedented overall growth is now clearly visible in their profits. The world’s largest online retailer, Amazon has recorded the biggest profit in 26 years of its existence, all thanks to COVID-19.
Q4 is a competitive and profitable time period for online retail companies as holiday season engulfs this quarter. Having worked with the E–Commerce Industry for a decade now, we at IndiVillage have first-hand experience in pre-sales data management for product listing and cataloguing and post-sales experience of client servicing using audio transcription and voice annotation. With this knowledge, we list below the key points E-Commerce businesses should keep in mind while preparing for this quarter.
Seller Verification is Crucial
For all E-Commerce businesses that support third party sellers, then the first step to onboarding these sellers is verification of their credentials. Be it confirming the authorization certificates, trademark verifications or self-declaration certification for independent sellers. Ensuring that this process is well established within the company provides credibility for the entire E-Commerce business merely because the sellers would be validated. This exercise also builds a sense of trust within the consumer’s mind and most importantly prevents fraudulent sellers from making their way into the organisation. For B2B organisations, we at IndiVillage verify each seller by their identity of brand owners, authorised distributors or independent dealers. Similarly, for B2C organisations like Amazon Saheli (Amazon’s initiative to bring to the fore locally made products from women entrepreneurs in India), we verify the information that has been locally collected and create accounts for these sellers.
Perfect Product Description and Cataloguing can go a long way
It has been noted that 23% of product returns are due to inaccurate product descriptions or lack of high quality images. Buyers do not trust the product or the platform selling the product if the listings are not standardized. When you have too many products that have to catalogue, the workforce required to do the same is also high. Capturing and processing of data is what sets the base for any online marketplace. There has been an exponential growth of data in the past few years, and this is one of the main challenges that threatens the foundation of any E-Commerce business. In order to resolve this issue, we can help you in managing a vast expanse of data while maintaining its quality like we have for organisations like Amazon Prime Now, Rankona Mazon and Mercato.
A Picture Is Worth A Thousand Words
It is no hidden secret that a good picture holds a consumer’s attention for longer than a bad one, 65% of the time to be precise. Only after grabbing that attention, will the perfect product description come handy. As an E-Commerce business, the major disadvantage is not being able to provide the ‘touch and feel’ factor that consumers look for while shopping. The only way to overcome this is to have flawless images that follow the same standard. But it is practically impossible to have the same photographer or designer create all product images and this is where outsourcing this work to tech genies like IndiVillage will save the day. Following GS1 Standards, IndiVillage has worked on scores of images while product listing for multiple organisations, Syndigo being one amongst them.
It Takes Months To Gain A Customer, Seconds To Lose One.
AI is increasingly being utilised to improve customer experience. In AI, annotation is a technique used to create training data for computer vision. This training data aids machines to interpret new data in accordance with the trained algorithm with reduced human intervention. Constant input of training data enhances the AI algorithm and makes it progressive. The applications of image and voice annotation is innumerable, one of them being to enhance customer experience. For example, IndiVillage provides audio annotation services to Swiggy, India’s largest food tech company that uses artificial intelligence to deliver food to consumers from selected restaurants. Dealing with millions of orders in a single day, their customer lines are constantly ringing. The challenges for a machine to decipher this data is with respect to the size of the data, the speed at which it is arriving and most importantly the complexity of the mix of languages that is used, given India’s diversity. We at IndiVillage receive the data, and transcribe it, in both scripts of Hindi and English with timestamps leading to the millisecond. This helps eradicate the three major challenges, ensuring that the Swiggy team can now focus on enhancing the customer experience while we train the machine to understand it.
Apart from the above mentioned points, there are many other factors to consider while planning for the holiday season. But these are specifically mentioned here because we at IndiVillage can take these challenges into our domain, leaving you to attend to other requirements. Want to know how we can help scale your E-Commerce business this quarter? Talk to us now!