In the monitoring of online sales channels, the importance of stock availability or inventory is indisputable. If an e-commerce has a product file, but no stock of it, a sale is lost. Controlling this is essential for brands and manufacturers.
Whenever we present SingularPrice or do a DEMO, we always focus on the analysis of 4 KPIs: stock, availability, ratings and price. You might assume that the latter is the most important: controlling price deviations, identifying new sellers that don’t respect tolerance rates… but what about distributors that don’t stock your products? If you want to know if you are losing sales, this is of interest to you.
If a user is looking for a product, finds it, but suddenly comes across a message like “Let me know when it’s available”, you’ve lost a sale. Controlling the stock of your brand’s distributors is fundamental at a strategic level and the only way to have control in online sales channels.
Stock-out, product out of stock, product not available for immediate shipment…
Imagine you want to buy a mobile phone, you evaluate a lot of options, you stop to look at reviews and opinions, you search on different sites and when you have already decided on a brand and model, surprise! There is no stock. In the digital market, where immediacy rewards, if that user was hesitating between your product and that of another brand, bad news, he or she will probably choose the other brand.
One of the points that SingularRank analyses is BrandShare, our clients want to know why they lose market share at certain times. Well, this may be one of the reasons. If the lack of stock becomes something recurrent, potential customers will choose competing products.
Differentiate between out of stock and “pre-order”
Be careful! It is not always possible to speak of unavailability of stock. There are certain product categories that, due to their typology, require a preparation time. This can also be known thanks to SingularPrice. A special configuration is made per project and/or site to obtain accurate information.
The Digital Shelf and page positioning
When a product is not available in a physical shop, it is “visible”, when it is not available in an online shop, it will simply not appear in the first search positions. The loss of visibility is automatically associated with a loss of sales. It is from this concept that the famous “BuyBoxes” arise. Amazon declared a few years ago that more than 83% of sales came from it.
CONCLUSION
The importance of stock availability in online sales channels is crucial to optimise the sales strategy. SingularPrice allows a daily and exhaustive control so you can take control. We are all about data, you are all about growing your business. DEMO?
