2020 will most certainly go down as the most disruptive year in Retail in recent memory. However, amidst the COVID doom and gloom of government stay at home orders, store closures and bankruptcy filings there were signs of resiliency and significant success. One of the bright lights shining in the pandemic darkness was the IPO of eCommerce platform technology provider BigCommerce. On its first day of trading on Nasdaq (BIGC), the Austin, Texas based company closed at $72.27 – a 200% increase over its IPO price.
This past December, DynamicAction became an official BigCommerce technology partner with aspirations of bringing advanced retail metrics, analytics insight, and merchandising action to BigCommerce’s enterprise client base. Given BigCommerce’s flexible, open SaaS eCommerce platform, we recognized an immediate fit with one of our latest innovations - DynamicView.
DynamicView: Democratizing Retail Insight & Catalyzing Merchandising Action In collaboration with clients throughout 2020, we identified and addressed a significant opportunity to help Online Merchandisers with what they described as ‘the sorting challenge’. Some brands are still relying on manual sorting of category grid pages, product recommendation and other site zones. They understood accelerating plans to automate key product boost and bury decisions was essential to increase the efficiency of stretched merchandising teams. Even clients that had some sorting automation in place found key metrics were missing, lacking the vital ingredients in their merchandising rules and algorithms. Simple automated decisions like moving best sellers or new arrivals to the tops of various pages often did not address pressing business objectives like driving profit, focusing on customer experience, avoiding fragmentation, or adjusting for seasonality. They required an analytics solution that could be easily understood, quickly adopted, and that integrates directly with an online storefront and the eCommerce platform that manages the site.
With DynamicView, BigCommerce clients have over 270 advanced retail KPIs directly overlaid on their eCommerce site. Highly visual (red-amber-green) cues virtually leap of the screen, instantaneously informing a Merchandiser about item performance relative to category peers and boost and bury actions based on different business objectives. Need to pull the profit lever for a site category?… configure DynamicView to overlay margin, profit efficiency, and conversion metrics on the category grid page, ensuring ‘profit stars’ are sorted to the top of the page. Need to clear seasonal overstocks?... configure DynamicView to overlay Stock Cover and Overstocked Inventory Value to identify items that would benefit from increased exposure.
As a Google Chrome Extension, DynamicView also integrates with the BigCommerce Control Panel. Pairing DynamicView with the BigCommerce UI provides Merchandisers with access to product performance metrics at the very point of taking merchandising actions.
Within the BigCommerce Control Panel, Merchandisers can update an item’s ‘Sort Order’ value or flag a product as a ‘Featured Item’ while DynamicView KPIs are visible on the screen. Once such decisions are made and saved, that boost or bury action immediately manifests on the BigCommerce storefront. Additionally, BigCommerce and DynamicAction are pursuing higher levels of automation through an integration between our latest technology innovations - DynamicRecipe[Exposure] and BigCommerce’s Product Sort API. I will leave that as a teaser for a subsequent blog post.