Category Management has a new dimension to consider in optimizing consumer delight and category profits. It’s not sales or product turns or gross margins. It’s the ecommerce review which carries incredible influence at the point of purchase.
As more and more commerce shifts from brick and mortar stores to ecommerce sites, brands and retailers must consider the enormous influence reviews carry in purchase behavior. It’s the ultimate word-of-mouth, directly linked to the wallet.
In the past, optimizing a category was a matter of looking at the highest selling items on a dollar and unit basis and giving those items more real-estate, while minimizing or delisting weaker sellers.
But with star ratings and reviews impacting the last inch of commerce one could argue that the review is now more important than any form of advertising. That’s saying something.
So if a brand leader or category buyer has the objective of delighting customers and ensuring repeat purchase, that brand leader or buyer would be smart to list and feature only those SKUs that delight consumers. Moreover, in considering which SKUs to promote, wouldn’t we want to give favored website placement to products that are simply a cut above the competition? This ensures both brand and retailer loyalty which is absolutely critical in an environment where anyone can buy anything at any time… with a click of their fingers. And it takes three seconds to shop someone else’s site.
Making sense of Consumer Insights – cost effectively and at your fingertips
Looking at reviews has often been a manual process and many organizations are only looking at star ratings.
The right diagnostic tools allows brands and buyers to go deeper. Introducing, the Temmpo E-commerce Pulse Report. Temmpo allows brands and buyers to easily organize reviews for all the SKUs in a category and to sort reviews on key performance dimensions like:
- Star Ratings
- Quality, Trust and Value Ratings
- Customer Delight
- Customer Loyalty
Temmpo reports come right to your inbox. No log-in or password required. They are easy to read and are designed to help brands and retailers quickly prune weak offerings from assortments and also identify products that are truly delighting customers and driving repeat purchases so that these products can be prioritized in promotional efforts. The system has easy drill-down functionality to organize reviews at an SKU level for analysis and manufacturer feedback.
Now brands and retailers can better understand word-of-mouth dynamics in making merchandising and buying decisions. We believe this is increasingly essential to maximizing retail sales and profits.
To learn more or see a quick demo of the e-commerce pulse report, please click below.
Peter Murane is the Chief Innovation Officer at Temmpo/Brand VO2, and is driven to simplify and maximize the power of e-commerce insights for companies. He can be reached at email@example.com.