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Ecommerce Terms You Should Know – Part 4

Ecommerce Terms: You’ll notice that every industry has its own language – often times, it’s a niche language that only the people living and working within a specific industry can understand. The words used in the technical industry are not only many, but also particularly complex. With the rise of eCommerce businesses, leaders and members of the field are having to quickly learn the language. Whether you are getting ready to launch your business or have been in the industry for a while, we thought it would be helpful to put together a glossary of terms used in the language of eCommerce. This glossary will be divided into various parts to keep you up to date with the latest terminology.

Logistics

In the context of e-commerce, logistics refers to the process of shipping orders; the how, who, what, where and when of shipping.

Online Value Proposition (OVP)

An OVP is a tool that helps you persuade customers to make a purchase. OVPs can consist of a variety of elements, such as how-to tips, free shipping, product image and product reviews.

Payment Gateway

A payment gateway is the technology that processes secure and encrypted credit card payments on your website. Payment gateways can be integrated into your website or used on a separate payment page.

Product Information Management (PIM) System

A PIM system helps you store product details in one place to ensure consistent and correct product information both for your team and your customers.

Segmentation

Segmentation is the process of dividing potential customers into different groups based on traits. Typically, these include demographics such as age or gender or behaviors such as past purchases.

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