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Wednesday, September 22, 2021

The A to Z of e-commerce: Words every online seller needs to know - Marketscreener.com

Last updated Wednesday, September 15, 2021 13:22 ET , Source: NewsService

If you're new to selling online, chances are that you've been mystified by a term or acronym that everyone seems to be using.

Whether you're baffled by procurement or don't know what PPC stands for, don't panic. Simply consult our guide below for an A to Z of the need-to-know terms in e-commerce.

Here's what we cover:

A/B testing

Abandonment rate

Affiliate marketing

Analytics

Average order value (AOV)

Black Friday

Bounce rate

Bundling

Call to action (CTA)

Conversion

Cyber Monday

Disruption

Dropshipping

Email marketing

Fulfilment

Inventory

Multichannel

Point of sale (POS)

Stock-Keeping-Unit (SKU)

Upselling

Verticals

Zero-waste

A is for…

A/B testing

A/B testing might sound complicated, but it just means testing out two different versions of a web page or piece of marketing collateral: a version A, and a version B.

The two versions might be completely different website themes, or the change might be as tiny as one word or a different-coloured button. You'll then test both iterations on your customers.

If their experience is positive, aka views are high, then you can green-light the change. But if the experience has negative feedback, or low click-through, you can revert back to your other idea (or the drawing board).

Abandonment rate

When a potential customer fills a virtual shopping basket but decides to click that 'X' button rather than completing the purchase, it's referred to as abandonment.

If your online store has a high abandonment rate, it means your products are...



Read Full Story: https://www.marketscreener.com/quote/stock/SAGE-GROUP-PLC-13421569/news/The-A-to-Z-of-e-commerce-Words-every-online-seller-needs-to-know-36435809/


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