The Client is an e-commerce company using X-Cart. They sell $256,000 in classic car accessories annually and have over 3,436 customers in 39 US states and 6 countries.
Behind these stats is Jay, whose first car was a 1963 Corvair convertible. Passion, experience and frustration led to the founding of this company when Jay couldn’t find a replacement door handle for the Red Rider. Having shopped car shows and catalogs, Jay decided to launch an online store for classic car buffs on this newfangled thing called the internet. Thirteen years later, he’s revved up for growth but needs a better grasp on his e-commerce business.
There was not an official system in place that tracked or processed data important in the decision-making process, resulting in lost revenues. Valuable data was scattered piecemeal in the e-commerce back end.
Individual sales records didn’t paint the big picture, and Jay didn’t know how many customers he had, if they were loyal, and how much they spent in their lifetime. He didn’t know if his marketing efforts were paying off in repeat sales, or if his customers were one-hit wonders.
Abandoned Shopping Carts
There was not the ability to track which items and price points were most abandoned in shopping carts, which resulted in guessing games to determine coupons and pricing strategies. Money and time invested in SEO and PPC was wasted as these customers came, clicked... and left.
Sales “seemed” good some weeks, or slow others – but there were no cohesive reports of income. Typing data by hand into spreadsheets was an ineffective way to compare month-over-month totals and gauge the store’s performance.
Sales were lost when items weren’t restocked, and top sellers weren’t being quickly identified and reordered. Cash was tied up in inventory that wasn’t turning, while clearance items filled too many warehouse shelves.
The Client asked RI360 for X-Cart to address these issues:
• Visualizations of data to graphically display patterns and trends, both at a high level and fine details
• Ability to filter and sort data at will, and export pertinent details to Excel for further analysis
• Ability to export customer data to email marketing platforms
• Single dashboard to navigate sales, inventory and customer data
• Ability to understand and analyze customer demographics that guide email marketing, direct mail, pay-per-click advertising, and targeted ads on social media
• Geographic data to guide decision-making about advertising and trade shows
• Trend reports for product sales at the SKU or category level to identify best-sellers and loss-leaders
• Inventory replenishment reports to see items that need to be reordered
The implementation of RI360 for X-Cart has resulted in several improvements that generate revenue for the Client.
• Seeing all sales transactions at the item level unveiled interesting patterns that impacted advertising, marketing, pricing, and merchandising decisions.
• Geographical visualization of sales helped conduct targeted marketing in areas that were underrepresented.
• Identified how changes in product assortment, marketing, inventory, policies, etc. impacted sales trends.
• Began sending new customers a “Welcome!” email message, sending repeat customers a thank you, and offering stagnant customers an incentive to come back.
• Converted abandoned carts into completed purchases by sending reminders or incentives to complete the purchase.
• Tweaked pricing strategy, coupons, marketing, cart configuration, and more after analyzing Abandoned Carts Summary and comparing what items were most often abandoned at the SKU level, and by date, product category and price point.
• Made changes to staffing and expenses based on store performance and month-over-month totals
Since implementing RI360 for X-Cart, an X-Cart Addon available from the X-Cart Marketplace, The Client has grown his their business by understanding patterns, trends, and streamlined details about sales transactions, inventory, customer value, and abandoned carts. With a monthly subscription, The Client has instant access to data that is smoothly gathered into beautiful charts, comprehensive graphs, and detailed spreadsheets that can be seen from a desktop, mobile device, or tablet. The Client now knows what’s working, which products are selling, and which customers are most valuable – and what needs to be fixed. The onboarding process was fast and easy, and now X-Cart data is unleashed in stunning visual dashboards on a secure cloud-based platform.