Mumbai: The art of Pashmina, crafted with centuries-old techniques by Kashmiri artisans, represents a rich tradition of exquisite craftsmanship and cultural heritage. Each piece, meticulously handmade, embodies the delicate balance of artistry and skill passed down through generations. In an effort to preserve and promote this timeless craft, Pashmina.com has emerged as a vital platform, connecting these artisans with a global audience.
To further enhance its impact and operational efficiency, Pashmina.com has partnered with VTEX, a leading digital commerce platform. This strategic migration from Adobe Commerce to VTEX signifies a new chapter for Pashmina.com, focusing on global expansion and streamlined commerce operations. By leveraging VTEX’s innovative technology, Pashmina.com aims to amplify its reach while continuing to support and sustain the traditional art of Pashmina through its commitment to its artisan community.
Indiantelevision.com’s Arth Chakraborty caught up with VTEX general manager, EMEA & APAC, Prakash Gurumoorthy and Pashmina.com founder Varun Kumar to gain deeper insights about their recent partnership, recent product announcements and updates and more.
Edited Excerpts:
On Pashmina.com planning to leverage VTEX for its global expansion and streamlined operations
We wanted to create a seamless online shopping experience for our customers from around the globe by optimising our website Pashmina.com for the international markets. The fully integrated and centralised order management system provided by VTEX is helpful for automating processes and analysing the performance metrics for customer delight. Having a single product portfolio while managing multiple markets with varied currencies & languages was surely the core feature that made us want to go ahead with VTEX.
On Pashmina.com’s migration from Adobe Commerce to Vtex, and the benefits it anticipates from this transition
As VTEX provides a single platform for commerce and marketplace functions, it is easier to analyse and reach out to specific customer segments with the niche of product mix we offer. VTEX has eliminated costly integrations like payments, CRM, and logistics by providing a fully integrated omnichannel solution for our business to run smoothly.
On VTEX ensuring faster, high-conversion, composable experiences for both B2C and B2B brands, and its differentiating aspect in terms of user experience and conversion rates
VTEX has ascended as the composable and complete commerce platform of choice for renowned household names in B2C and B2B commerce such as Samsung, Colgate, Stanley Black & Decker, Sony, Whirlpool, and many others, due to its ability to solve the diverse needs of global retailers and brands.
As part of its core, VTEX's composable and complete platform delivers a unified commerce approach, seamlessly intertwining online stores, marketplaces, and physical retail outlets to deliver a connected commerce shopping experience. This strategy fuels collaboration between VTEX, the vendor in this case, and its customer, which nurtures brand loyalty by providing a collaborative and seamless journey that resonates with today's buyer.
Supporting this approach is VTEX's modular and scalable architecture, which significantly enhances user experience and boosts conversion rates by allowing seamless adaptation to market changes while maintaining peak performance. VTEX ensures that retailers avoid the overhead costs associated with extensive developer teams and ongoing maintenance. This efficiency translates directly into a lower total cost of ownership (TCO), as our platform empowers retailers with intuitive tools like FastStore. These tools enable swift implementation of changes, optimisation of product displays, and enhancement of user experiences without compromising on speed or performance. Thus, VTEX not only improves operational agility but also reduces costs, making it a superior choice for retailers aiming to thrive in dynamic markets.
In order to showcase how VTEX can empower brands, we commissioned a "Total Economic Impact" (TEI) study with Forrester Consulting, which evaluated the financial impact and contributions of VTEX on businesses. The study found significant benefits for brands that transitioned to VTEX within three years, including $5.8 million saved by migrating from legacy digital commerce platforms to VTEX, along with a 133 per cent return on investment (ROI).
On the recent product announcements and updates from VTEX, particularly regarding AI, security, and data enhancements
As the comprehensive and composable platform serving enterprise businesses like Samsung, Sony, WhirlPool, and others, VTEX is constantly listening, reviewing, and gathering data on B2C consumer and B2B buyer trends. Additionally, we actively engage with enterprise brands to understand their needs, particularly in reaching new audiences, achieving sales targets, and integrating new innovations to unlock growth opportunities.
As we are constantly responding to evolving demands and economic changes, we strategically utilise AI algorithms to enhance our offerings for enterprise brands to personalise products, collect valuable data on customer behavior, make informed decisions and optimise their marketing strategies and more to drive revenue forward.
This is why we launched 'VTEX Vision,' a semi-annual product unveiling of cutting-edge solutions aimed at reducing the barriers to growth.
For our inaugural VTEX Vision, we created a comprehensive digital product showcase with solutions spanning advertising, data, security, software development, and more. Many of these innovations are embedded with AI integrations to empower both B2C and B2B enterprise brands to provide frictionless commerce for their internal team and buyers. Our latest AI-powered solutions include:
AI-driven ad network: effectively manages ad space across digital stores using AI-driven optimisation. To maximise profits and simplify advertising efforts, it provides competitive auctions, precise targeting, and thorough ad campaign monitoring.
WhatsApp integration for tailored sales: VTEX combines targeted campaigns, real-time campaign monitoring, AI-driven customisation, and personalised cart recovery messages with the WhatsApp Business Account builder. Personalised client communication is made possible by this connection, which improves sales conversion strategies.
AI-powered intelligent search: Utilizing AI to discover patterns in user behaviour, this solution provides automatic find and suggest relevant synonyms for search terms to increase conversion rates.
Live shopping with AI-powered live chat: VTEX enhances its popular live shopping product with AI-powered live chat to let users receive more prompt responses to their questions and requests during the live shopping experience. Conversion rates and customer happiness both rise with this interactive feature.
AI is utilised in VTEX pick and pack operations to increase efficiency and decrease errors in fulfillment procedures. Reducing human error and enhancing the overall customer experience, it automates the approval or rejection of consumer return requests.
These are just some of the ways we’ve built AI-driven solutions to streamline workflows, tailor customer experiences, maximise advertising budgets and more. Our end goal is to ensure competitiveness for enterprise brands in the ever changing world of commerce.
We have also introducted VTEX data pipeline to help customers gather all their data from their commerce operation. Unlocking actionable insights from digital commerce data is crucial for business success, yet high costs and complex integrations often pose challenges. VTEX Data Pipeline offers a streamlined solution for data sharing, ensuring secure and direct delivery of commerce data to your infrastructure. With a diverse range of datasets available, customise update frequencies and destinations, while maintaining GDPR compliance and data security. VTEX Data Pipeline empowers brands to access valuable insights, make informed decisions, and drive growth effectively.
To fortify data protection and strengthen security across all modules, we introduced 'VTEX Shield' during VTEX Vision. This advanced security layer is meticulously crafted to elevate overall protection levels and enhance threat detection capabilities.
VTEX Shield encompasses an advanced web application firewall (WAF) to defend against common online attacks like SQL injection and cross-site scripting, fortifying the security of digital stores hosted on the platform. Furthermore, VTEX offers a Pentest Readiness Service, allowing merchants to conduct regular penetration tests to proactively identify and address vulnerabilities, thus preventing potential security breaches.
A key feature of VTEX Shield is its security monitor dashboard, providing real-time visibility into security events for swift risk mitigation. This comprehensive approach strengthens security measures, protects personally identifiable information (PII), and instills confidence in data security within the VTEX ecosystem, ensuring the safety of its customers and stakeholders.
On Pashmina.com ensuring the authenticity and quality of the Pashmina products sourced from Kashmiri artisans, and some success stories or memorable experiences highlighting the positive impact Pashmina.com has had on their lives
Each Pashmina we source from the artisans of Kashmir has a geographical indication seal from the ministry of textiles, government of India. This seal serves as the certificate of authenticity with a unique QR code for each Pashmina that indicates its purity. We work with over 100 artisan families assuring employment for both men and women in their families. We pay them upfront for them to have a sense of job security and make their living conditions better. This sustains their motivation to keep the dying art of Pashmina alive.
On Pashmina.com navigating challenges such as competition in the e-commerce space and changing consumer preferences while staying true to its values
To stay ahead of the curve, we try to keep our technology up to date for optimising the on-site user experience as per the shopper’s behaviour. The analytics help us to track the trends, drop-off points, and bounce rates for learning consumer preferences. We keep increasing our sustainable fashion product mix by adding traditional as well as contemporary Pashminas that attracts all generations.
On how VTEX facilitates enhanced order fulfillment speed and efficiency through optimised inventory strategies and management updates
Previously, enterprises managed their physical and e-commerce operations separately, leading to inventory issues and poor customer satisfaction, as deliveries were only handled by the e-commerce distribution center.
Our OMS allows customers to integrate inventory from all distribution centers and physical stores, providing full visibility of inventory distribution. This integration reduces inventory breakage and offers multiple delivery options for customers, such as optimised delivery routes and in-store pick-up.
With our OMS, you can track all sales from a single control panel, whether they occur on your DTC channel or through a third-party marketplace. Our native marketplace connection allows customers to list inventory on third-party marketplaces while maintaining a single source of truth, ensuring better operational control.
Additionally, our native marketplace helps customers sell on external platforms and enables them to become a marketplace themselves, expanding their inventory without the burden of managing additional assortments.
Furthermore, VTEX Vision, our semi-annual product showcase of innovative solutions unlocking growth strategies to boost conversion, recently introduced advanced functionalities for our VTEX Sales app such as efficient management of new product arrivals and top offers, the ability to recover abandoned shopping carts, and real-time inventory checks. These features not only streamline internal operations for brands, but also enhance the overall shopping experience for buyers. The integration of these capabilities within VTEX's ecosystem ensures that businesses can leverage insights and utilize automation to deliver a seamless omnichannel experience that meets the evolving expectations of modern commerce.
On ways in which VTEX empowers sales agents to enhance customer experience and increase customer lifetime value through improved access to inventory and productivity tools
Our ecosystem includes sales reps who have a meaningful role in the consumer journey. We have been investing in connecting our customers' sales reps across various channels, including call centers, brick-and-mortar stores, field sales, and multi-level marketing resellers. In addition to selling more, we enable them to take on other roles within the ecosystem, such as brand influencers, content creators, or part of the store fulfillment team. Our vision is that, in the long run, the sales app suite is so powerful and relevant to the salesperson that they will think twice before considering working somewhere that does not have it, as the software will provide them with so many new opportunities to sell more.
Our VTEX Vision Spring 2024 announcement features an exciting update to help sales agents with our popular VTEX Sales app. The comprehensive tool is designed in managing sales processes and customer interactions efficiently. The recent updates introduced during VTEX Vision further amplify the app's capabilities.
New features within the VTEX Sales app include seamless integration with inventory management systems, ensuring real-time updates on stock levels. This integration enables sales agents to access accurate product availability information directly within the app, facilitating prompt and informed customer interactions. Additionally, we have introduced advanced functionalities for efficiently managing new product arrivals, top offers, recovering abandoned shopping carts, and checking inventory status.
The VTEX Sales app is integrated with MasterData, consolidating all customer and order data. Moreover, it can seamlessly integrate with other business tools such as CRM software, payment gateways, and marketing tools, offering enhanced functionality and customisation options to meet specific business needs.
Furthermore, the updated VTEX Sales app now incorporates advanced analytics and machine learning algorithms for inventory forecasting. By analysing historical sales data and customer behavior trends, the app generates precise forecasts for future demand. These predictive insights empower businesses to make data-driven decisions regarding inventory management, procurement strategies, and sales initiatives, ultimately enhancing operational efficiency and customer satisfaction.
