Back in October of last year we announced our inventory monitoring program that had been running in a private pilot program for most the year. (You can read more here or see TheNextWeb’s coverage here)
After much feedback and suggestions we have started rolling out our eCommerce protection on several platforms starting with Magento. Magento Commerce is one of the leaders in the ecommerce space with over 150,000 online retailers using their platform to power their website and online sales. The reason why Magento tends to be a #1 pick is because its easy to add extensions and features and keep a clean looking site. For big enterprises it also has the bandwidth which is always helpful for growth.Â which is a fast and easy plug-in for ecommerce retailers out there. After examining our beta we made this our first rollout meaning anyone from a mom and pop, large e-Retailer to big brands can be found there and EBAY seems to agree, having acquired Magento Commerce last year to give it more “umph.”
“Its important to look at the future and make it easy for consumers and companies. That has always been our philosophy and now we are making technology to match it” Consumer CEO Ellie Cachette said. The Extension works easily for current Magento Community and Magento Enterprise versionsÂ 1.6, 1.6.1, 1.6.2, and 1.7. You simply download the extension, enter in a ConsumerBell product key, then edit settings which we have some suggestions for.
HOW TO GET YOUR EXTENSION
1) Download Extension (can also search Magento Connect,Â “Inventory Recall Monitoring” (http://www.magentocommerce.com/magento-connect/catalog/product/view/id/16758/)
2) Get your product key from ConsumerBell (you can also get your key first atÂ https://www.consumerbell.com/#)
3) Edit Settings (there are some recommended settings you can find here or:Â http://www.slideshare.net/ConsumerBell/magento-extension-downloa-dv2)
WHY ECOMMERCE, WHY NOW?
Ecommerce in the United States will hit approximately $262 billion this year, up 13.4% from $231 billion last year, and is the leading future of shopping and products. By the year 2017, online spending will reach $370 billion, which is a 10% growth rate from the year 2012, and it is the future. “The problem with brick and mortal retailers is that they have store hours and logistics and facilities to run so keeping up with demand can be tricky. This problem actually can help when an recalled item is in possession because it limits risk in a sense that there is only so much shelf space…” Cachette expanded “However, it limits sales and demands too with a high overhead of a facility to run. Ecommerce sells 24/7 and has can keep up with spikes in demand but this also causes higher risk of shipping out items in a fast and big way that maybe shouldn’t be and thats where we come in”
HOW IT WORKS
ConsumerBell extensions work by notifying the administrator or a high risk or recalled item. In many cases the item can also instantly be disabled from the website so that until there is confirmation or more investigation by the website admin or whomever checks the e-retailers products and quality, a recalled item isn’t sold out. This is also helpful for items that are already sold because there is a 100% chance in many platforms that you have the consumers or purchasers email address for quick notification (read here for more on e-notifications: http://www.slideshare.net/ConsumerBell/guide-to-enotifications)
HOW COMMON ARE RECALLS?
Recalls are common and as producing numbers go up, so will the need for protection. Each recalled product that is shipped out costs the company, on average, $250 per incident. On top of that, in some states it will cost companies a minimum of $5,000-$100,000 per incident. According to the law, companies are just as responsible as the manufacturer for sending out recalled items.
Got a suggestion or platform that you want our API to mash with? Send us a note, we listen info (at) consumerbell (dot) com