The idea of ONDC was conceived to support entrepreneurs at the grass-root level and digitize local retailers, thus enabling them to be a part of the country’s ecommerce revolution. Business owners who sell their products online have to often manage a plethora of ecommerce platforms and websites and in many cases even the logistics. Not to mention the hefty commissions involved in listing their products on ecommerce bigwigs like Amazon and Flipkart.

The government saw an urgent need to bring about a system where all communications (email, notifications, updates) and invoices spread across disparate platforms could be consolidated at a single location. ONDC provides an interoperable network of seller-buyer platforms, logistics providers, and everything in between.

If you are an enterprise charting your way into newer markets or evaluating options to start an online store, ONDC may be the answer. While selling online everywhere in India is incredibly easy with ONDC, it comes with its own set of challenges. Let’s deep dive into what these challenges are and how Bizom , a retail intelligence platform and a Seller app for ONDC can help you overcome those.

Field Force Automation Software is a digital solution that streamlines and automates various field-related tasks, enabling businesses to manage their field force efficiently. This software leverages mobile devices, cloud technology, and data analytics to provide real-time insights, seamless coordination, and data-driven decision-making for field teams.

With Field Force Automation Software, businesses can automate tasks such as order management, inventory tracking, route optimization, attendance and leave management, customer data collection, and sales reporting. This empowers the field force to focus more on core activities like sales, customer interactions, and merchandising, leading to improved productivity and overall performance.

The following are 5 easy stock replenishment tips to help businesses avoid out-of-stocks:

Knowing your target audience is the foundation of effective assortment optimization. By understanding the preferences and needs of your customers, you can tailor your product offerings, creating a personalized shopping experience that drives sales and customer satisfaction. Harnessing the power of customer data collection is essential for gaining these insights and refining your assortment strategy.

One method for collecting customer data is through surveys. Retail giants like Walmart often incentivize customers to give surveys to gather feedback and identify areas for improvement in their product offerings. By analyzing survey results, businesses can understand the preferences of their target customers and make better decisions about which products to stock and promote.

Transaction history analysis can also provide valuable insights into customer preferences. Amazon, for example, leverages customer purchase data to personalize product recommendations and create a tailored shopping experience, which has been a major factor in its success.

Social media research is another powerful tool for understanding your target audience. Brands like H&M and Zara monitor social media trends and customer feedback to stay ahead of the curve in fashion preferences. By analyzing social media data, businesses can identify emerging trends, customer pain points, and opportunities for growth.

Creating customer segments based on data allows for personalized assortment optimization. For instance, Sephora uses customer data to segment its audience and offer targeted promotions, resulting in improved customer satisfaction and increased sales. Catering to customer preferences is essential in today’s competitive retail landscape, and understanding your target audience is the first step in mastering assortment optimization.

Understanding customer demographics and preferences is the foundation for effective assortment planning. Factors like age, gender, location, and income level significantly influence a business’s product offerings. By considering these elements, businesses can craft a tailored assortment that addresses their target audience’s needs and preferences, ultimately boosting sales and enhancing customer satisfaction.

To gather information on customer demographics, businesses can employ various methods:

1. Surveys: Regularly conduct customer surveys to gain valuable insights into their preferences, opinions, and expectations regarding your products and services. This information can help you tailor your assortment to meet their needs.

2. Transaction History Analysis: Examine transaction data using Bizom’s sales operation planning to identify purchase patterns and trends among different customer segments. This analysis can reveal essential information about the needs and preferences of your customers, allowing you to adjust your assortment accordingly.

3. Social Media Research: Monitor and engage with customers on social media platforms to better understand their interests, lifestyles, and opinions on various products and brands. This real-time feedback can help you make informed assortment planning decisions.

4. Creating Customer Segments: Develop customer segments based on demographic data and preferences. By grouping customers with similar characteristics and needs, you can create product offerings that cater to each segment’s specific requirements and improve overall customer satisfaction.

5. Analyzing Customer Feedback and Reviews: Regularly track and analyze product reviews and customer feedback on websites and social media platforms. This process can help you identify popular products and factors influencing customers’ purchasing decisions, allowing you to optimize your product assortment.

6. Leveraging Data Analytics and AI Tools: Utilize platforms like Bizom that offer advanced data analytics and AI features to gain deeper insights into customer behavior and preferences. These tools can help businesses make data-driven decisions for more targeted and effective assortment planning, ensuring a competitive edge in the market.

Quick Tip: Keep a pulse on emerging trends and lifestyle changes within your target audience to ensure your assortment stays relevant and appealing to their evolving needs and preferences.

By continuously monitoring industry news, social media, and customer feedback, you can identify shifting preferences and market dynamics. Attend industry events, follow thought leaders, and engage with customers to gain valuable insights into their evolving needs and interests. Regularly adjust your assortment based on these insights to stay ahead of the competition and maintain strong customer loyalty.