This year, Shop.org is held in the city that never sleeps, Las Vegas. Retailers, visionaries, innovators, entrepreneurs, and thought leaders all come together to be inspired and walk away with practical strategies that will benefit your business.
We’ll be at booth 1016, showcasing the latest updates and new features of the Skava Commerce platform. Skava is going beyond the booth this year with some great content happening throughout the conference. Here’s a sneak peek at the top 5 things we’re doing at Shop.org.
- Skava Commerce – Designed for Change to Transform Your Commerce Journey
We promise our demos aren’t boring. Skava Commerce is taking a new, modern approach to digital commerce. We’re helping leading brands transform their digital commerce journey, wherever they are at. Learn why microservices are the future of digital commerce and why top online retailers are moving away from their monolithic solutions.
Why should I see a demo of Skava Commerce?Skava Commerce is a modern, mobile first, a cloud-hosted solution that employs loosely coupled architecture empowering brands to create outstanding and well differentiated digital experiences. We’ll show you how you can consume as much or as little of the platform as you want. Better yet, you don’t need to build the glue yourself between the services. Skava Commerce includes a modular React and Node.js based front end, which can be used with Skava or used as the front end of any other ecommerce platform.
Because the platform is modular, you can gradually replace your legacy platform at your own pace, shifting functions into services over time, without the danger of a rip and replace project.
Learn more about the Skava platform here or schedule a meeting with an ecommerce expert and get a Google Home Mini.
- Big Ideas Session:
Skava’s Senior Director of Product Marketing, Jon Feldman is leading a talk to discuss why you need to break up with your commerce solution. As a former Restoration Hardware alumni, Jon will dive into the practical strategies and benefits of moving off of your legacy solution to a modern microservices platform. Don’t miss the exciting conversation on Thursday, September 13th at 11:30 am in the Expo Hall, Big Ideas Stage 3. Continue reading
Skava, the global e-commerce technology company owned by global consultancy Infosys, has promoted Khurram Khan to Chief Technology Officer. Previously, he was Skava’s VP of Product and Technology. Khurram will report to CEO Arish Ali.
Khurram Khan, Chief Technology Officer, Skava
On promoting Khan, Ali noted: “Khurram has been a strategic leader and has played a key role in transforming Skava into a leader in e-commerce technology. He will focus on making sure we stay ahead of the curve with our microservices based technology and continue to serve innovative product offerings to enterprise brands and retailers. ”
Prior to joining Skava 5 years ago, Khan held various technology leadership roles at Macy’s. He’ll oversee all aspects of product and services delivery from Skava’s Manhattan office.
Khan adds, “My goal at Skava is to help us leapfrog the entrenched players in the space. We have a great team of very talented technologists that share that vision. I’m looking forward to working together with our clients and helping them accelerate their way to serving their customers with the most innovative and capturing experiences.”
Have years of customizations and integrations turned your once state-of-the-art commerce system into a tangled architecture of half-solutions, patches, and hacks? Have developers come and gone leaving documentation unreliably out of date? Is your team crippled by technical debt?
If you’re like many digital enterprises, your legacy commerce platform is so large, complex and tightly coupled that new feature delivery (and even routine maintenance) is painfully slow and introduces risk into your environment.
And you know ripping and replacing your current monolithic platform won’t solve your challenges. Replatforming projects are slow, costly and force you to redo many customizations and integrations. During implementation, you’re stuck maintaining two systems. If your new platform is a monolith, it’s only a matter of time until it’s bogged down with the same issues as your current system.
The good news is you never need to do a “Big Bang” replatforming project ever again.
Digital commerce is continuously evolving. Customer behaviors are changing, and new technologies are on the horizon. And businesses want to be disruptive along the way. Some brands are facing significant roadblocks to delivering better customer experiences that evolve with their customers.
So, what’s the problem? Your outdated commerce platform.
Legacy monolithic commerce platforms are holding you back from transforming your customer’s digital journey and owning your commerce ecosystem. You don’t have the freedom to experiment with new technologies and digital experiences without hurting the entire platform. One mistake can alter your systems and your teams will need to start over.
The modern solution to your infinite problems of broken systems, limited flexibility, and technical debt is a microservices digital commerce architecture. Microservices, as you might’ve heard, are standalone, independently deployable business applications. Each has a dedicated database, well-defined APIs, and an admin console that runs in its process. Microservices enable businesses to build, test, and deploy faster and are easier to develop and maintain as they’re broken into smaller, composable pieces that work well together.
Skava Commerce is built from the ground up on a microservices architecture, with a rich set of APIs to provide access to the individual services. Sounds great. If you’re in the IT organization, the benefits are music to your ears: more scalable, more maintainable, and lower total cost of ownership. But why should the business care?
In my time as a product manager and as a consultant to retailers, I’ve been involved in digital commerce for over two decades and have had the opportunity to see a wide variety of ecommerce platforms in action. Being in a role that sits between the development organization and the business, I’ve formed a perspective on what matters to both groups. When you are not on the IT side, it’s easy to get lost in discussions about architecture and database choices, SLAs and uptimes, and lose the plot on how software platform choices impact your ability to drive the business forward. But the capabilities (and sadly all too often, the limitations) of your platform define the digital playing field for your business and it is critical that you consider the implications of your technology choices.
The Millennium Alliance sat down with Arish Ali, Co-founder and CEO of Skava to gain a first-hand look and perspective on the retail industry as it is today. Check out the interview. Thanks, Millennium Alliance! Skava will also attend the upcoming Digital Retail and Marketing Transformation Assemblies.
What do you believe are the new priorities of retailers in the “new generation of modern commerce?”
Retailers need to be obsessed with closing customer experience gaps. Consistent experiences in-store and online, omnichannel customer support, fast loading websites and apps, products in-stock and fast and free shipping are what customers care about. These “new” priorities are of course old priorities — but many retailers still struggle to satisfy the basics.
Retailers also need to be obsessed with new customer acquisition. Customer loyalty in a world with instant access to unlimited choice and heavy competition won’t keep a retailer alive without a steady stream of new customers at all times. Continual testing and optimization of customer acquisition tactics, from SEO and paid search to co-marketing, social and influencer marketing, affiliate and content marketing is vital and must be carefully balanced against discount strategies.
I was shopping at a pharmacy in Toronto recently when I came across the discount tag depicted at below. (Take a moment to study the picture closely if you don’t see the issue). I’ll start with the most likely scenario: an antiquated system without safeguards created a $0 discount as a side-effect of a large pricing change.
The discount price tag at a pharmacy in Toronto
Not knowing the internal systems of this particular retailer, I can only guess what happened, but it seems likely that their pricing systems include fields for a regular price and a markdown price (or perhaps multiple markdowns and promotional prices, each with effective dates). The system might print bright yellow discount tags whenever there is an entry in the markdown field. It might also require the business user to select an option to do so, but in any case, this item met the criteria in their system to trigger the label to be printed. A simple safeguard would be to ensure that the markdown price is less than the regular price. It might make even more sense to have a threshold: for example, only print a discount tag if the markdown price is at least 5% less than the regular price.
Conversion – orders divided by visits – is one of the most common metrics in retail. Easy to calculate and simple to understand, it’s a measure of “efficiency,” like batting average in baseball, that tells a retailer how well their stores are, well, converting traffic into sales. And like batting average, while it is a decent indicator of one aspect of performance, it has several shortcomings. It should remain a key component of any retail dashboard, but modern retailers need to look beyond conversion to better understand and optimize their businesses.
The old standby
Conversion has been tracked by retailers since long before ecommerce rose to prominence. As a metric for traditional brick and mortar retail, it had the appeal of being easy to calculate: just count the number of people who came into the store and the number of sales made in a given time period and compute the ratio. Advanced analytics this was not. Conversion doesn’t require that you know who your visitors and purchasers are, what they bought, or why. But it does provide a good yardstick against which individual stores can compare their performance and the impact of various business decisions over time. And given its success as a key metric in brick and mortar retail, it’s not surprising that it became one of the go-to metrics in digital commerce.
With the 10-year anniversary of Satoshi Nakamoto’s famous white paper Bitcoin: A Peer-to-Peer Electronic Cash System approaching in November, it’s safe to say that Bitcoin, cryptocurrency, and blockchain have entered popular lexicon. Most businesses tuning into the crypto airwaves are figuring out how to leverage cryptocurrency and blockchain technology. The first in a series, this post will explore how cryptocurrency and blockchain are affecting payments in ecommerce.
The easiest start: how cryptocurrency payment works within existing payment strategy
As the best-known entry point, many businesses begin leveraging blockchain by understanding how Bitcoin fits into their current business model and if it’s the right time. Businesses may merely accept payments from consumers in-store and online. Although the list of ecommerce businesses integrating into Bitcoin, Ethher or various other cryptocurrency payments is still relatively small, some brands, such as Overstock.com have been providing crypto payment options for several years.
A practical application requires businesses to consider some of the fundamental concepts when governing cryptocurrencies. It’s important to address the security requirements that wallets or exchanges impose that are different from existing business practices, such as direct deposits, wire transfers or ACH transactions.
Though ecommerce sales make up just 10% of total US retail sales, digital influences half.
To keep pace with customer expectations and close experience gaps across touchpoints, retailers are making serious investments to extend digital commerce beyond their .com storefronts into physical stores. Forty-five percent of digital retail executives are expanding, upgrading or investing in technologies to deliver digital content, offers and customer service features to their physical shops, support store associates with a digital tech and enhance the buying experience.
5 Key Focus Areas of In-store Digital Investment
Enhanced mobile Over 80% of shoppers consult their mobile phones for product information in-store. Both native apps and HTML5 mobile websites can be augmented with voice search, image recognition, QR-code scanning and NFC (near-field communication), as well as “store mode” features like wayfinding (in-store navigation) and location-based content and offers.
Universal accounts True omnichannel retail connects all customer touchpoints, including online account activity with retail POS systems and other in-store digital touchpoints. Purchase history, loyalty status, reward point balances and personalized content should be seamlessly accessed in-store and updated to a universal account in real time.