Within the last few years, cross selling has turned out to be a great platform to increase sales. Imagine if you could upsurge your sales with the data of your existing customers. Say a customer presently buys products from just one of your merchandise catalogs, and is modestly unprofitable. By means of customer data, if you start sending those clienteles catalogs for your other merchandises. They will probably start cross-buying. Furthermore, you can send them discounts, deals, and coupons, further increase your sales. According to one Forrester research, product references like upsells and cross-sells are accountable for an average of 10-30% of ecommerce revenues.
Managing your data like Walmart is not at all a difficult task, as there are loads of options available when it comes to product information management software these days. It allows you to manage your inventory and offers better returns, manage your costs better, cross sell and up sell to customers and on the whole, offer a better experience to all your shoppers. And as per Ram Rampalli, who is the global head of content acquisition at Walmart states that “High-quality product data is the foundation of everything in the omnichannel experience. There is a strong need to improve “Consistent Vocabulary” between the mobile, the web and in-store experiences, not just the way copy is written, but ensuring products are properly classified and presented with the right specifications to allow shoppers to make good comparisons.”