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Frequently Asked Question
What is an eCommerce Marketplace?
An eCommerce Marketplace is a type of eCommerce site where product or service information is provided by multiple third parties and categorised by product type. Online marketplaces are the primary type of multi-channel eCommerce; Lazada, Amazon and Shopee are classic Marketplace examples.
What is PIM?
Product information Management (PIM) is the process of managing all the information required to market and sell products through distribution channels. This product data is created by an internal organization to support a multichannel marketing strategy. A central hub of product data can be used to distribute information to sales channels such as e-commerce websites, print catalogs, marketplaces such as Lazada, Amazon and Google Shopping, social media platforms like Instagram and electronic data feeds to trading partners.
What is an API?
An Application Programming Interface is a set of rules and protocols that enable different platforms to interact with each other. Software developers use APIs to retrieve data from one program and transfer it directly to another.
What is ERP Software?
Enterprise Resource Planning software integrates all the necessary functions of running an ecommerce business. This includes marketing, supply chain management, CRM, and accounting. The biggest benefit of an ERP solution is that it collects and organizes data from multiple sources and ensures it’s accurate. Connecting ERP software to your eCommerce platform not only streamlines back-office operations but also improves the customer experience.
What is 3PL?
Third-party Logistics (3PL) providers offer outsourced inventory storage and order fulfillment services. Online retailers who prefer not to fulfill orders in house can partner with a 3PL. The 3PL will manage the entire process — from picking and packing to shipping.
What is an AOV?
Average Order Value (also known as Average Transaction Value) AOV is the average value of all orders placed during a specific period — usually a month. Retailers calculate AOV by dividing the total profit received by the total number of transactions.
What is CAC/CLV?
Customer Acquisition Cost is the average amount an online retailer spends to bring in a customer. It’s calculated by taking the total marketing costs for a specific period and dividing it by the number of customers acquired.
Customer Lifetime Value is the total profit you expect to receive from one customer over the course of your relationship with them.
What is a CMS?
A Content Management System allows you to create, add, and edit content to your website without complicated coding. Most CMS solutions have drag-and-drop functionality and customisable page templates. This makes building and updating your website super straightforward.
What is CRM?
Customer Relationship Management software is a platform eCommerce merchants use to organize customer information into a single database. This includes basic customer details such as contact information, demographics, and purchase history. But it also includes more specific information. For example, shopper behaviour, interests, and shipping preferences.
What is CRO?
In online retail, a conversion is usually just a purchase. But conversions can be other actions, such as signing up for your newsletter or downloading your app. Conversion Rate Optimisation is a set of tactics eCommerce companies use to improve the ratio between site visits and sales conversions.
