The web comprised nearly 42% of the growth in the U.S. retail market last year. E-commerce represented 11.7% of total sales in 2016, but ...
Web site analytics vendor Coremetrics is incorporating product cost information into the clickstream data that it analyzes so retailers can understand the gross profitability of sales on a transaction, customer, campaign or product category basis.
Web site analytics vendor Coremetrics Inc. is incorporating product cost information into the clickstream data that it analyzes so retailers can understand the gross profitability of sales on a transaction or customer basis, Coremetrics reports.
Coremetrics’ Marketforce product will capture the cost information at the time of a customer’s transaction and integrate it into the final purchase price. The enhancement will allow retailers to calculate gross profitability on the basis of customer, product category, or marketing or discount program.
With the new technology, a retailer`s web site will grab cost information from a product database every time a customer views a product. Coremetrics has incorporated Blowfish encryption technology into Marketforce to assure retailers that their cost information will remain secure and not visible to consumers.
The enhancement will help retailers understand precisely who their highest value customers are, Coremetrics says. "Retailers may be looking at customers they call high value measured on revenue, but they may find that what they consider their highest value customers are not necessarily their most profitable," Chi-Hua Chien, Coremetrics` director of marketing tells Internet Retailer. "Today they know profitability only in the aggregate."
Coremetrics’ Marketforce captures and stores all visitor and customer clickstream activity to build what it calls LIVE (Lifetime Individual Visitor Experience) Profiles of online customers. The product is built on the Core Data Platform, a hosted dynamic data warehouse containing online customer and visitor information. Through a browser-based data collection technology, the Core Data Platform encrypts, captures and stores behavioral information from the visitor`s browser and records interactions in real-time to build the LIVE profiles.