Have you ever wondered what distinguishes an exceptional e-commerce store from an average one? The answer is operational efficiency. This efficiency shows through supply chain management, fulfillment processes, and customer service.
You may be wondering how to achieve such efficiency. Well, one effective approach is to adopt a system that unifies data that derives from different channels, offering a comprehensive view of all operations. In fact, such systems are able to track inventory levels, sales, fulfillment operations, performance, and even identify issues in these departments. This approach is what embodies the essence of unified commerce.
What is unified commerce?
Unified commerce integrates frontend and backend systems into a single platform, unifying data from various sources, like online stores and other customer interaction points. As mentioned above, this system is able to handle multiple functions, like inventory management, sales tracking, analytics, customer relations, through a single platform. Traditional models typically handle such operations separately, with multiple platforms, leading to a disjointed and confused approach, while unified commerce synchronizes these operations across channels, making retail operations more fluid and establishing a centralized repository for data, thus offering a clear understanding of inventory levels and sales patterns.
Unified commerce’s strength is real-time synchronization of data across multiple channels, ensuring that each customer touchpoint — no matter if in-store, online, via mobile app, or on third-party marketplaces — shows up-to-date information.
Unified commerce is therefore able to offer a comprehensive view of all business operations, enhancing management, as well as efficiency. In fact, with traditional systems it is not uncommon to have to manually update inventory, which leads to costly errors and lost sales.
Why is unified commerce beneficial for e-commerce businesses?
Unified commerce is becoming an asset, especially because consumer expectations are constantly evolving, and in fact it offers the operational efficiency businesses need to provide the precision, efficiency and immediateness people who buy online expect from brands. Can you imagine how difficult it can be to deliver fast and accurately if you manage three e-commerce stores, each connected to three different third party logistics providers? Fragmentation leads to inefficiency, complexities in tracking, inconsistencies in inventory management and poor inventory visibility, as well as difficulties in maintaining a high-quality customer experience.
Having access to unified data improves the flow of information and, ultimately, all processes involved in a business.
What is the difference between unified commerce and omnichannel commerce?
Omnichannel’s focus is providing a coherent and consistent customer experience across different channels, while unified commerce advances this concept by integrating different channels with unified backend operations, focusing not only on providing a consistent customer experience but also on creating a more efficient and coherent operational environment.
Unified commerce: which KPIs to track
Once you integrate a unified commerce model, Key performance indicators (KPIs) will be your compass, guiding strategies based on real-data. Here are some essential e-commerce metrics to monitor for success in unified commerce:
Average order value (AOV): total revenue / the number of orders placed. Providing an exceptional service will allow you to increase your AOV over time.
Customer retention rate: (Number of customers gained within a specific time frame – number of customers at the end of the time frame) / (number of customers at the beginning of the period ) *100
Customer LTV: Customer Value x Average Customer Lifespan
Operational efficiency: total operating expenses in the company / total revenue
eLogy equips your business to meet current market demands
As an e-commerce business, you are constantly competing with giants like Amazon. Therefore, it is crucial to leverage technological advancements and automation to stay ahead of competitors. Even smaller businesses will be able to deliver customer experiences on par with big competitors, thanks to our comprehensive fulfillment and data management capabilities.
eLogy’s fulfillment technology integrates seamlessly with online stores and our strategic fulfillment centers at your disposal. All tasks like data entry and order processing are automated. Say goodbye to errors and hello to faster shipping.
Intuitive dashboard: eLogy’s platform allows real-time tracking and centralized data access, aligning with the principles of unified commerce, through a user-friendly dashboard. You can monitor and analyze complex information in a simple way.
Exceptional customer experience: no more inconsistencies in product availability, pricing, and fulfillment. Your customers will be delighted by your speed and accuracy. Plus, data accuracy will allow you to offer more personalized offers that shoppers will appreciate!
Increased revenue: having unified and accurate data equips retailers with a major asset, namely the possibility to monitor sales patterns and adjust strategies for more personalized promotions, thus increasing their sales opportunities.
Analytics to support strategies: collecting data across all channels to create a centralized information hub enables more accurate demand forecasting and aids in the strategic planning of more successful marketing campaigns.
Simple operations: having a single platform simplifies operations, reducing the likelihood of errors and delays in order processing.
Save money: automation and more efficient operations lead to less costly errors in order fulfillment and inventory management. You can waste less and increase profitability. This efficiency can influence your pricing strategy, potentially allowing more competitive pricing due to lower operational costs. Attract more customers and boost your sales!