Best Practices for Digital Transformation in Retail
Today is the day for one of the most influential e-commerce conferences in Turkey where digital entrepreneurs, solutions providers, retailers, and investors come together. We, as Inveon, are very happy to be part of Webrazzi’s E-Commerce Conference, where Turkey’s leading professionals discussed the developments in technology and e-commerce in various panels, sharing their experiences during the day.
Our CEO Yomi Kastro ran a panel with the attendance of Yargıcı Sales Director Oğul Sipahioğlu and Columbia Retail Sales Manager Çiğdem Yılmaz on e-export and increasing online sales performance.
Before moving on to the panel, Yomi gave a few interesting insights that indicate digital commerce may not be the nemesis of the retail industry after all. According to Google, the digitally assisted revenue rate in retail stores seems to be 56%. On the other hand, omnichannel has become the new norm. Nowadays, as we all may know, 1 out of every 3 shopping in ready-to-wear retailing takes place with an omnichannel journey.
On the panel, “Best Practices for Digital Transformation in Retail”, Oğul Sipahioğlu from Yargıcı talked about their e-export operations where they use one platform to sell its products to the whole world. They preferred our inCommerce platform for this comprehensive operation. The platform offers 3 languages and 3 currency options. Yargıcı can now define different campaigns with different price lists in more than 90 countries.
One of the most important results is that the revenue generated from abroad almost tripled from 2018 to 2019. Moreover, the number of orders was increased by 171%.
Çiğdem Yılmaz from Columbia talked about a multi-dimensional e-commerce project that they built together with Inveon to increase their online sales performance. Together with our GrowthLab team, they conducted an analysis to further increase the sales performance of the online channel and further improve the customer experience. Firstly, they opened the offline stock to the online channel and started the omnichannel stock management by integrating them. In this way, while offering customers a much wider product variety, they also gained significant stock efficiency. Secondly, they started to present more products on the digital channel. Thirdly, they analyzed the data of digital customers and created personalized campaigns.
As a result of this multi-dimensional project, the traffic of Columbia’s website has increased by 77% in just 6 months after the start. Columbia’s registered and active customers increased by 85%, almost doubled.
In conclusion, the resurrection of commerce is happening all around us. Though the line between physical and digital commerce is blurring, the difference in growth trajectories between retail and digital commerce is still strong. Only by providing customers with exceptional experiences, retailers can maintain their market and mind shares. Therefore, we will keep working hard to create the best cases in digital commerce together.