Our client, a TOP 100 Online retailer wanted to add 300,000 new products into their product catalog every month. These listings have to be optimized for SEO and have to meet their unique listing style with the right specifications and attributes set out by user experience standards of the retailer. They also wanted to make sure the SKUs were live faster than their current 2-4 weeks from receipt from the manufacturer/distributor. The online retailer also wanted that a minimum margin by maintained in each product but at the same time the products are listed at a price that is competitive in the market.
Vserve put together three teams to tackle this challenge and provide
a world class solution to its customers.
Vserve put together a content team to create unique SEO friendly content for each of the products before being listed. This enabled the retailers content to stand out compared to the other generic content found with competitors.
The listing team worked on standardizing specifications and attributes for each category of products and then made sure all the key specifications and attributes are captured from the information from the vendor’s list or through a secondary research process.
The pricing team, made up of experienced data analysts and coders identified same and similar products in competitors sites, understood packing differences and specification variations and then charted out the real prices for each of the similar or same products at competitors sites for the new product to be listed. This helped Vserve to determine optimal price points for each of the products to maximize sales and margins. Vserve also initiated constant monitoring of prices to stay competitive at all times especially during seasonal events.
Vserve also instituted a cross functional program management team which worked with the various stakeholder departments such as category managers, marketing and finance to enable speedy decision making and faster time to market.
Vserve was able to list 300,000 products within a week of receipt. All the products listed were SEO optimized and priced optimally to maximize margins.
- Vserve was able reduce time to market of new products by upto 2 weeks helping in increasing the top line of the customer. Vserve was also able to contribute to a 6% increase is yield from the products by using Vserve’s price optimization strategies.
- The customer also saw a sustained improvement is ranking in Google of products which had unique content from Vserve.
- The customer is looking to expand its products offering by adding 500,000 new products a month in 2018 by utilizing Vserve’s services.