Ecommerce Encyclopedia

1. ECOMMERCE MULTI-VENDOR MARKETPLACE DEFINITION A multi-vendor marketplace could be defined as an eCommerce platform that offers various products provided by hundreds of vendors and acts as mediators between sellers and shoppers. Some popular examples of such marketplaces are Amazon, Etsy or Aliexpress. 2. HIGH-QUALITY MULTI-VENDOR MARKETPLACE BENEFITS If you…

Production time, also frequently known as lead time, production lead time or manufacturing lead time, could be defined as the period of time in which a retailer’s order is being processed and completed by the manufacturer. Therefore, it is obvious that a short production lead time is better than a…

1. PROFIT OPTIMIZATION DEFINITION Profit optimization, also frequently known as revenue optimization or profit maximization, could be defined as a business strategy which combines demand, pricing, and strategies in marketing in order to maximize a business’ revenue. This involves gaining deep insights of your pricing, which includes sales channels, price…

1. PROMOTIONAL BAR DEFINITION A promotional bar, also shortened as a promo bar, could be defined as a site feature which allows you to show your eCommerce business’ current deals and such. Promotional bars are often found at the top of eCommerce websites, featuring information on limited sales, discounts or…

1. PURCHASE INTENTION DEFINITION Being one of the most widely-used and long-standing terms in eCommerce, purchase intention could be defined as the preference of consumers in buying goods and/or service. Another definition of purchase intention is the likelihood of a consumer purchasing goods and/or service after evaluation. 2. SCALE OF…

1. QUANTITY BREAK DEFINITION Quantity break, also frequently known as quantity discounts or tiered pricing, could be defined as the pricing strategy used by many businesses in which the price per unit decreases once the quantity within certain tiers increases. According to recent market studies, consumers would find more interest…

1. QUANTITY DISCOUNT DEFINITION Quantity discount, also frequently known as discount pricing, could be defined as the business practice of lowering prices of goods or services. Nevertheless, it is important to keep in mind that if you lower your prices too much, this could eventually lead to losses. Therefore, every…

1. REAL TIME STOCK TRACKER DEFINITION Real time stock tracker, often known as real-time inventory management, could be defined as the process of recording purchases of inventory constantly, which enables businesses to gain insights of current inventory as well as to develop a faster response to immediate supply chain needs….

1. NATIVE APP DEFINITION In eCommerce, a native app, or a native shopping app, could be defined as an app that is written and developed specially for mobile devices and can be directly downloaded via several platforms such as Google Play or the App Store. Native apps are believed to…