As an eCommerce brand, your success depends on so many factors. One of them is customer satisfaction; without it, you can’t be able to establish your brand on various eCommerce marketplaces. These days customers have complete control over online marketplaces. To fulfill the demands of your customers you require an appropriate view of product availability. You need to know location-wise product availability and how soon it can get delivered to your customers. If you cannot monitor product availability, your customers can buy the identical product from somewhere else. Poor product availability analysis can also lead you to overstock the products as well.
A lot can happen if you are not able to keep a check on product availability. Availability is the essential aspect of SCRAP, a tested strategy that can help you create a successful brand story. To enhance your brand’s trust and credibility, it is essential to always have clarity in your product’s availability across multiple channels. Suppose customers rely on your brand for any specific product, and that is unavailable in your stock.
Undoubtedly, it can affect their trust and convenience them to purchase from your competitors. In this special edition, we have mentioned why you need to keep a check on product availability and how etraKY BS can help you with it.
Significance of Product Availability
If you have listed products on various eCommerce websites, then it is vital to know the location-wise availability of each product. The unavailability of listed products can disappoint your customers if they find that products are unavailable for delivery. It can make you lose your potential customers. Unlike physical stores, customers always have access to buy their desired products anytime from online marketplaces. That is why product availability is crucial to never miss out on a single customer.
The unavailability of products can impact your annual revenue. Nowadays, eCommerce channels have moved to a hyper-local fulfillment model. Hence, it is more critical for you to get actionable insights into multiple pin codes and cities you are operating. To monitor your product availability efficiently, etraKY BS, a brand analytics tool, can help you immensely.
Reason You Need to Keep a Check on Product Availability
Apart from increasing your customers’ trust, there are other reasons to keep checking products’ availability. Here we will mention some of the other essential reasons you need to analyze your products’ availability.
Maximize Your Conversion Rate
Unavailability of products can disappoint your customers to the next level. Once you fail in fulfilling your customers’ demands, they may never return to you. It can minimize your conversion rate as well. To maximize your conversion rate, it is crucial to keep a check on product availability. As a brand, if you want to make a robust market presence, you must have a complete idea of available or unavailable products in your stock. But it is not that easy to monitor your stocks all the time.
To handle this situation adequately, etraKY BS is here to help you out. It provides real-time data on your inventories and notifies you as soon as any product gets out of stock or back in stock. It can save you from overstocking the products and ultimately save your money. With etraKY, you will never get in a situation where your customers get disappointed. You can escape the situation of Oos very well. It can result in you maximizing your conversion rate.
Upswing Sales Opportunities
Whenever a customer faces unavailability at the time of purchase, the demand for that specific product naturally goes down. It can impact your sales performance drastically. That’s why it is important to always keep a check on product availability so that your customers never face an out-of-stock situation while shopping. Available products can increase the demand of the customers and ultimately helps you upswing your sales opportunities.
If you want your products to always be in demand, you need to constantly check whether products are available in your stock or not. Always ensure that products are visible and available for your potential customers. In such aspects, etraKY BS can help you in constructing a better mechanism by keeping a check on availability on a real-time basis.
To Attain Positive Customer Review
Once customers start trusting your brand for a specific product, they always want to buy the same product. However, their trust can get broken if they find that the product they are looking for is not available at the time of purchase. In such a scenario, they can leave a negative review that may create a challenge for you in building more customers. Several eCommerce platforms have the review and rating feature; if your products don’t have good reviews, it can negatively impact your targeted customers.
To attain positive customer reviews, you need to ensure that products are available to fulfill their demands. You need to consider this as a primary requirement for your eCommerce business. As a brand analytical tool, etraKY, BS provides complete visibility of your inventories across the channels and helps you meet the demand of your customers. In such a way, your customers never get disappointed, and you can attain their positive reviews.
Outride Your Customers
Customers looking for a specific product to buy from your brand can not select you if they find the out-of-stock situation repeatedly. Customers do not have the patience to wait and let the products get back in stock. In the case of Oos, your customers can move to your competitors to make the purchase. It can leave you behind your competitors and let you lose your valuable customers. If you want to outride your customers, you have to keep a check on product availability. Customers have thousands of options for one single product.
So it would be best to be alert about not losing a single customer. You need to provide a dynamic customer experience to beat your competitors. As a brand, you must put extra effort into presenting your products online. It should be a matter of consideration for all the brands out there. With etraKY BS, your competitors will never be able to fetch your customers. To compete effectively with your customers, this software provides you with tracking records of your stocks on a real-time basis.
Satisfying your customers in every circumstance should be the ultimate goal of your online business. You can not write your success story without pleasing your customers. Customers are the primary focus, whether online or offline because they decide your fate. That is why it is essential to always keep a check on your product availability. Customers visit an eCommerce website to make a reliable purchase. If they find your brand reliable for them, they will make the purchase again and again. But if you fail in fulfilling their demand just for once, it can hurt your brand’s credibility.
However, to save you from such situations, etraKY BS focuses on accelerating your brand’s flexibility. As a software, it minimizes your problems related to product availability and sends you a notification on a real-time basis. It can help you with multiple channels to keep a check on your inventories under a single panel. etraKY BS can help you forecast the upcoming trends and demands of the eCommerce industry. Especially during peak time, you can arrange your stock before the sale and fulfill the demand of your customers.