BytePlus E-Commerce
Content Strategy

Blog 1  |  Navigating the 5 Challenges Retailers Face in the Evolving E-Commerce Space  |  View published article →

Main audiences: Business and tech C-suite, lines of business, product managers

This article looks at the key challenges that retailers face as the e-commerce space evolves and transforms to embrace the omnichannel approach, and the strategies retailers can adopt to navigate the ever-evolving e-commerce landscape.

• E-commerce retail sales reached US$4.9 trillion worldwide in 2021, forecast to grow by 50% over the next 4 years, amounting to 7.4 trillion dollars by 2025 (source)

• E-commerce shopper market comprises 2.14 billion digital buyers in 2021 (source)

• Estimated number of global e-commerce users by 2025 is 4.877 billion (source)

The 5 Key Challenges:

• Adopting the Right Technology: A report from the Consortium of IT Software Quality also estimated that poor quality software cost US companies $2.84 trillion in 2018. 

• Lack of Understanding Customer Behavior & Preferences: Companies face major hurdles when it comes to updating their CX strategy with 77% citing insufficient technology platforms.

• Unifying Sporadic Marketing: A report revealed that 16.2% of marketers report an inability to personalize customer experience across their channels.

• The Death of Third-Party Cookies: 83% of marketers in the US rely on third-party cookies – accounting for a marketing spend of roughly $ 22 billion.

• Security & Privacy: According to the 2020 Trustwave Global Security Report, retail was the most targeted sector for cyber-attacks. The cost of data security breaches are financial implications, loss of customer trust, and a negative impact on the brand’s reputation, seeing that the average data breach costs a company $3.86 million and takes 280 days to contain.

Blog 2  |  Livestreaming: The Rise and Rise of Live Shopping  |  View published article →

Main audiences: Business and tech C-suite, lines of business, product managers

Published: 22 August 2022 | Link

This article focuses on the breakthrough popularity of livestreaming, and how businesses can tap into livestream commerce to elevate their retail strategies.

Livestream commerce is a phenomenon that has been fueled by the pandemic as brick-and-mortar stores temporarily closed, but also in part energized by the interactivity of the online shopping experience. It now accounts for 11.7% of total retail e-commerce sales in China, and is projected to rake in $480 billion in 2022.

Key Benefits of Live Commerce for Retailers

• Live commerce drives sales conversions

• Live commerce drives impulse buying

• Live commerce drives better engagement and brand awareness

How Retailers can Add AR to Redefine the Live Shopping Experience

• AR drives live shopping with virtual try-ons

• AR drives interactions with immersive effects and stickers

The bar for livestream commerce is rising as audiences no longer settle for run-of-the-mill engagement.

Blog 3  |  Data: The Gold Standard of Tomorrow’s Omnichannel Retail Landscape  |  View published article →

Main audiences: Developers, product managers, tech and business C-suite

This article focuses on how data analytics is at the heart of the upcoming omnichannel retail era, and how retailers can tap on the latest data analytics solutions to drive omnichannel success.

With almost 50% of e-commerce decision-makers in Europe and North America believing that omnichannel strategies are very important to their business, it is clearly the way of the future in the retail landscape.

The modern shopper wants more flexibility, more personalization, and a cohesive experience across different channels. Surveys show that 72% of consumers expect retailers to know their purchase history regardless of which channel they used, and 74% of consumers like the idea of a website curated to their interests.

Tapping on data insights to drive a seamless, consistent experience across channels

• Data provides the foundations for retailers to deliver the speed, flexibility and convenience that shoppers demand across multiple channels

• Data enables an understanding of online and offline customers’ wants, needs, and preferences to allow tailored product recommendations based on the insights drawn.

Data can help streamline and improve omnichannel inventory management

• Order accuracy is an important metric that impacts customer satisfaction

• Improved inventory visibility enables retailers to monitor inventory stock levels in real-time, anticipate demand surges, and better manage inventory storage costs

A successful omnichannel strategy brings together both cohesive customer engagement and streamlined operational platforms. The right data analytics foundations must be established to gain useful business insights to drive an exceptional customer experience and inventory management.

Blog 4  |  AR in Retail: A Business Perceptive  |  View published article →

Main audiences: Developers, product managers, tech and business C-suite

This article offers insights on ways AR/VR in retail benefits organizations, and how AR can benefit retailers both online and offline.

It is estimated that 4.3 billion people will use AR at least weekly by 2025, and at present, the most practical use of it is in online shopping. Despite the popularity of e-commerce and the industry’s transition into omnichannel retail, in-store shopping is still the most preferred shopping experience because consumers want to see, experience, and test products in person.

In-store retail during the pandemic, and possibly post-pandemic, see customers wary of getting into contact with products, with many retailers opting not to offer samples or try-ons. Hence, the implementation of AR in retail can go beyond e-commerce, as it has the potential to enhance consumers’ experiences in-store as well.

The Impact on Sales
By helping potential customers visualize how products would appear in their actual consumption contexts, AR could reduce product fit uncertainty and increase purchase confidence. 61% of consumers prefer stores with AR experiences, and 40% are willing to pay more if they can experience it through AR.

The Impact on Cost

Higher product fit certainty results in fewer returns or exchanges, lowering shipping cost operations (especially for retailers offering free shipping), and the severity of lost profits.

Blog 5  |  The Role of Data in Customer Satisfaction  |  View published article →

Main audiences: Developers, product managers, tech and business C-suite

This article offers strategies on how businesses can adopt data-driven solutions to enhance their retail strategies and adapt quickly to changing business conditions.

Data intelligence enables deeper insights into shopper behavior, enable price optimization, and shape the direction of products, apps, and customer engagement journeys.

Streamline Supply Chain Management

Increase in online shopping demand and skill shortages will remain major challenges in 2022. By enabling organizations to improve demand forecasting and decision-making with machine-learning and predictive insights, logistics teams can reduce resources and labor required to undertake extensive supply chain planning.

Always customer-ready

To ready each platform for customers entering at any point of the purchase journey, intuitive end-to-end experimentation becomes a key to optimizing app and web experiences. Product managers can work in tandem with data scientists to create effective user engagement strategies that draw insights from A/B testing of product features, content, and UI.

Modernize Customer Loyalty Programs with Data

Data is pivotal for retailers to keep a pulse on evolving customer expectations — ultimately, to improve their customer loyalty programs and lower the cost of customer acquisition.

Blog 6  |  How Disruptive Technologies Empower Forerunners in E-Commerce  |  View published article →

Main audiences: Business and tech C-suite, product managers, developers

This article uses case studies to present how businesses can tap on BytePlus’s AI-powered solutions to enhance customer experience:

Machine-Learning Recommendations

BytePlus Recommend uses the combined advantages of data insights, model training, AI predictions, and A/B testing to deliver personalized experiences and improve engagement uplifts.

Case Study: BytePlus Recommend was adopted by a Japanese livestreaming platform to create a customized machine learning model to reach targeted user loyalty goals (click-throughs, stay-time).

Analytics that Supercharge Organizations

Analytical tools have gone far beyond just understanding users, and now have applications organization-wide; from understanding user pain-points to cross-functional insight sharing.

Case Study: BytePlus was approached by an Indonesian all category e-commerce platform to streamline data synchronization and validation services to process its excessively large database.

In-Store Experience, At-Home Convenience

BytePlus AR Try-On uses a full function self-developed engine with cutting-edge immersiveness that allows customers to experience full-fledged retail shopping, while at their own convenience.

Case Study: BytePlus AR Try-On was selected by a global consumer electronics brand and cross-border ecommerce platform for their series of newly launched glasses products.