From “Artificial Intelligence” to “Zero UI,” this comprehensive glossary decodes the essential terms, tactics, and tools shaping the online merchandising industry:
A - AI (Artificial Intelligence): The integration of intelligent algorithms and technologies in eCommerce to automate processes, analyse data, and enhance customer experiences through personalised recommendations, predictive analytics, chatbots, and more.
B - Bounce Rate: The percentage of visitors who navigate away from a website after viewing only one page, often indicating a lack of engagement or relevance.
C - Conversion Rate: The percentage of website visitors who complete a desired action, such as making a purchase or signing up for a newsletter.
D - Dynamic Pricing: The strategy of adjusting product prices in real-time based on various factors like demand, competitor pricing, and customer behaviour.
E - Engagement Metrics: Measures used to assess user interaction and involvement on a website, including time spent on site, click-through rates, and social media interactions.
F - Fulfilment: The process of receiving, processing, and delivering orders to customers, often involving warehouses, shipping, and logistics.
G - Google Analytics: A web analytics service by Google that tracks and reports website traffic, used by eCommerce businesses to understand user behaviour and optimise their online strategies.
H - Heatmap: A visual representation of data where colours indicate areas of a website that receive the most (hot) or least (cold) user engagement, helping in analysing user behaviour.
I - Inventory Management System (IMS): Software used to track and manage inventory levels, orders, sales, and deliveries for eCommerce businesses.
J - Journey Mapping: Visualisation of a customer's interactions and experiences across various touch points within an eCommerce platform to optimise the customer journey.
K - Key Performance Indicators (KPIs): Measurable values used to evaluate the success of online merchandising strategies, such as conversion rates, average order value, or customer acquisition cost.
L - Landing Page: A standalone web page created specifically for a marketing or advertising campaign, often designed to encourage a particular action, like making a purchase.
M - Mobile Optimisation: Tailoring the online shopping experience for mobile devices, ensuring seamless functionality and user experience on smartphones and tablets.
N - Net Promoter Score (NPS): A metric used to measure customer satisfaction and loyalty based on responses to a single question: "How likely are you to recommend this product/service to a friend or colleague?"
O - Online Merchandising: The strategies and tactics used to present and promote products effectively in an online retail environment.
P - Personalisation: Tailoring the online shopping experience for individual users based on their preferences, behaviour, and purchase history.
Q - Quality Score: A metric used in online advertising platforms like Google Ads that determines the relevance and quality of ads and landing pages, influencing ad placement and cost-per-click.
R - Retargeting: Displaying ads to users who have previously visited a website or interacted with specific products, aiming to bring them back to complete a purchase.
S - Site Search: Functionality on a website that allows users to input queries or keywords into a search bar or box, enabling them to find specific information, products, or content within the website.
T - Target Audience: Specific demographic, behavioural, or psychographic group that a company aims its marketing efforts and products towards.
U - User Experience (UX): The overall experience a user has while interacting with an eCommerce website, focusing on usability, accessibility, and satisfaction.
V - Virtual Try-On: Technology allowing customers to digitally visualise how products, like clothing or makeup, would look on them before making a purchase.
W - Web Hosting: The service that enables a website to be accessible via the internet, storing the website's files and data on servers.
X - Cross-Selling: Recommending additional or related products to customers based on their initial purchase.
Y - Yield Management: Adjusting prices dynamically based on demand, time, or customer behaviour to maximise revenue in eCommerce.
Z - Zero UI: Interface designs that rely on voice, gestures, or AI to eliminate traditional graphical user interfaces, providing a seamless and natural user experience.