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The future of commerce is digital, it’s clear from the stats shown in the graph below. According to it, 20.3% of retail purchases are expected to occur online in 2024, and a projected increase to 23% by 2027. As fewer people opt for traditional brick-and-mortar shopping experiences, companies must adapt to maximize their online presence and provide customers with accessible and convenient ways to shop. Instead of just investing in physical stores, investment in developing and marketing an online store is becoming increasingly important.
But how to develop an appealing online presence? It’s a big question for brands. For this purpose, brands must choose the right e-commerce platform to set up an online store, creating a seamless and engaging shopping experience for customers. Choosing the right e-commerce platform is like laying the foundation for a modern digital business. The right platform can make all the differences between success and failure therefore, it’s essential for success. By assessing your unique business needs and providing high-end features with cost-effective pricing, a good customizable e-commerce V
VC platform like Comverse by Ginkgo ensures your online store is designed to your specific requirements and poised for growth.
Challenges retailers face
In the world of e-commerce, retailers often encounter a bunch of challenges that hinder their ability to effectively manage their operations and meet the evolving needs of their customers. These include:
Without a centralized automation platform, retailers face challenges with high costs and a heavy reliance on manual processes. This means if the system is not automated the e-commerce operations are not streamlined and employees spend more time on repetitive tasks which brings in inefficiencies and increased operational costs.
Disconnection between online and offline systems
IThe disconnection between online and offline systems imposes another obstacle for retailers. When online and offline systems don’t communicate effectively, it leads to scattered data, duplicated efforts, and missed opportunities for personalized customer experiences. This can impact the overall work efficiency by bringing inconsistency in procedures such as inventory management, order processing, and customer support.
The rigidity of traditional systems
Traditional rigid systems often struggle to keep up with the rapidly changing needs and demands of customers. As a result, retailers may fail to adapt to evolving market trends.
Use of multiple software systems leading to high costs
With each business process requiring multiple software applications, retailers may find themselves facing mounting expenses without achieving the desired level of efficiency.
Too many systems to handle software
As so many software systems are used to handle various business processes it creates a clutter of screens to handle the systems. This wastes time and work efficiency is compromised.
If you are struggling with the complexities of scaling your online business, look no further than Comverse by Ginkgo Retail, the end-to-end e-commerce system designed to tackle the toughest challenges faced by brands in the digital marketplace.
Comverse has made building and running online stores easier as it provides brands with built-in features that are essential to running an e-commerce store successfully. It is an open integration platform and serves brands as a highly customizable e-commerce platform giving various customization options and complete control on online stores. Moreover, it seamlessly integrates with new technologies and third-party software systems.
A traditional e-commerce platform like Shopify has some limitations such as:
On the other hand, Comverse by Ginkgo Retail put brands at an advantage due to the following reasons:
A comprehensive view of features
Multi Customizable Storefronts
With Comverse By Ginkgo Retail, a highly customizable e-commerce platform, your online store can stand out globally with customizable themes tailored to diverse customer tastes. This not only boosts engagement and loyalty by offering a personalized shopping experience but also allows quick adjustments to match evolving market trends and customer preferences. By effortlessly customizing not just the look and feel of your brand but also the entire user experience, including the user flow, you can stay relevant and appealing to your target audience. This comprehensive customization drives increased sales and business growth, ensuring that every interaction is smooth, intuitive, and aligned with your brand’s unique identity.
Digital Wallet
Brands can use Comverse’s digital wallet feature to streamline the payment process for customers. This feature simplifies transactions and enhances the online shopping experience. Brands can easily credit coupons, process refunds, and allocate loyalty points directly into the customer’s digital wallet, providing a seamless and hassle-free journey. When customers return an order, the refunded amount goes into the brand’s digital wallet at Comverse platform. This allows customers to use the refunded amount for future purchases from the same brand. This feature significantly improves customer satisfaction, reduces checkout friction, and helps brands gain customer loyalty, leading to increased sales and a substantial revenue boost for their online store
Multi Payment Gateways
Using a plug-and-play model merchants can easily configure and integrate any payment gateway with this custom ecommerce platform. This allows them to collect order payments instantly from customers, streamlining the checkout process. By offering multiple payment options, Comverse enhances flexibility for customers and increases conversion rates for merchants, ultimately driving more sales and revenue for online stores.
Currency Management System
This feature lets you automatically switch currencies and recalculate rates based on the regional location of customers, providing a seamless experience for international shoppers. This built-in extension simplifies the purchasing process for customers, eliminating the need for manual currency conversion and ensuring transparency in pricing. Customers can check out in their local currency, and brands can adjust prices for different regions while maintaining a single site. By facilitating global audiences and accommodating different currencies, this custom e-commerce platform helps online stores expand their reach and boost sales across borders.
Loyalty Program
This streamlined loyalty system encourages repeat purchases and strengthens brand loyalty, ultimately boosting sales and maintaining long-term customer relationships through rewards, wishlists, and referrals. With automated points earning and redeeming conditions, along with customizable expiration periods, businesses can effortlessly convert buyers into loyal customers without the need for coding.
Marketplace Management System
Having this feature businesses expand their reach by bringing together a diverse range of online vendors under one platform. With individual interfaces for vendors, they can efficiently manage products, orders, and fulfillment, allowing for seamless operations within the marketplace. This centralized system streamlines vendor management, enhances collaboration, and develops a vibrant online marketplace ecosystem. By offering a diverse range of products from multiple sellers, businesses can attract a broader audience of online buyers, driving traffic, sales, and overall growth.
Enhanced Discount Module
This allows businesses to incentivize customers effectively while simplifying discount management with Promo Codes, Shipping Discounts, and Buy X Get Y Free deals on a single screen. Businesses can boost customer confidence and sales by displaying savings directly on the cart and product pages.
Stitching Module
The Stitching Module in Comverse automates the custom stitching process for online stores, streamlining the customization of high-quality products to meet specific customer requirements efficiently. This feature ensures precision and speed in fulfilling custom orders, enhancing customer satisfaction and loyalty.
Management modules
It includes various management modules such as:
Multi-Sales Channel Management
Easily manage and synchronize sales across multiple channels, including your online store, social media platforms, and marketplaces, ensuring consistent brand presence and maximizing sales opportunities
Order Management System
Efficiently processes and tracks orders from placement to fulfillment, ensuring timely delivery and customer satisfaction.
Track It
Track IT offers universal order-tracking features and customized settings to acquire product reviews and ratings, enabling merchants to monitor order journeys and enhance customer satisfaction for stronger relationships.
Logistics Management
Streamline logistics operations, including shipping, tracking, and delivery, to ensure efficient order fulfillment and minimize shipping errors.
Inventory Management
Maintain accurate inventory levels and track stock movements to prevent stockouts and optimize storage space.
Product Management
Easily add, update, and manage product listings, including images, descriptions, and pricing, to keep your online store up-to-date and competitive.
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BI Reporting
This feature provides brands with detailed business intelligence reports and analytics so merchants can gain insights into sales performance, customer behavior, and market trends. These reports enable merchants to make data-driven decisions and develop effective business strategies.
Retail CRM
Build and maintain strong customer relationships through personalized communication, targeted marketing campaigns, efficient customer support, and enhancing customer loyalty and retention.
Other advantages
With a single global website, businesses can present a unified brand image to customers worldwide, providing consistency in design, messaging, and user experience. Plus, although you have a single global website, currency can be changed for different zones. This approach streamlines management efforts and ensures that customers receive a cohesive brand experience, regardless of their location.
Advanced Shipping Rules
Comverse, being a highly customizable e-commerce platform empowers businesses to customize shipping options based on various factors such as location, weight, order value, and delivery speed. This flexibility allows for optimized shipping strategies tailored to specific customer needs, resulting in improved efficiency, cost-effectiveness, and customer satisfaction.
Omni Channel Solution
An omni-channel solution integrates various sales channels, including online stores, physical stores, mobile apps, and social media platforms, into a unified system. This approach enables businesses to provide a seamless shopping experience across multiple touchpoints, allowing customers to browse, purchase, and engage with the brand effortlessly. By offering consistency and convenience across channels, businesses can enhance customer engagement, loyalty, and sales.
Built-in essential applications are free
Comverse by Ginkgo Retail offers essential applications built into the platform for free, where you often must pay extra for them through in-app purchases. This means you get access to tools like inventory management and marketing automation without any added costs, making it easier and more affordable to manage your online store. With Comverse, everything you need to run your business effectively is included right from the start, saving you time and money.
Paid order charges
Comverse offers a free approach on paid orders, allowing businesses to maximize their profits without worrying about extra charges eating into their revenue. Whereas other traditional e-commerce platforms often charge a certain percentage on each paid order. This advantage of Comverse translates to cost savings for businesses in the long run.
Checkout customization
Traditional platforms often struggle in this area, hindering retailers’ ability to tailor the process. However, Comverse offers a solution. With its headless commerce feature and front-end flexibility, it empowers retailers to make major changes, ensuring a seamless and personalized checkout experience.
Extract of discussion
Comverse, with its impressive track record of processing millions of orders and connecting with numerous ERPs and couriers, addresses a com\mon challenge in e-commerce. It is the go-to e-commerce platform for retailers seeking to optimize their e-commerce operations and enhance customer satisfaction. resources towards developing and marketing an online store is becoming increasingly vital.
A veteran of the e-commerce industry having a diverse experience of 10+ years in the versatile domain of e-commerce. His eminent role in ecommerce management empowered him to benefit the industry with his knowledge, vision and experience.
Digital Wallet
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