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Caribmall has invested heavily in infrastructure and built the tools to help independent sellers succeed in our marketplace that help independent sellers to better understand and reach customers. We also use store data to help the millions of independent sellers who now make close to 60% of the sales in our stores. For example, we use data about shopping trends in our store to promote products from our independent sellers and highlight their offers through features like best-seller lists, related product recommendations, and customer reviews.
We also provide dashboards directly to independent sellers to help them manage their businesses and give key insights like whether they are running low on inventory or missing sales because others have better prices. We give them data about their own sales, the number of customers viewing the products they sell, and their conversion rates.
CaribMall is also constantly rolling out new tools that provide independent sellers powerful insights into customer shopping and help them make the most of their advertising investments, all to offer products customers want at great prices.
Just like our independent sellers and other retailers across the world, CaribMall also uses data to run our business. We use aggregated data to continuously improve our store for everyone, such as by ensuring that we keep our most popular products in stock, creating store brand products that offer great prices to customers, or connecting customers to great new products through automated merchandising. While aggregating data across our store, including sales by our Retail business and independent sellers, helps us delight customers and support the success of independent sellers, we’ve long recognized that sellers entrust data specific to their business with us, and we take that trust seriously.
We have strict policies that forbid our own private brand teams from using individual seller data. We train our teams on these policies and audit the teams’ compliance with them. Our approach allows us to improve our store while protecting the things sellers care about most: ensuring that their individual pricing plans, inventory levels, and sales histories are not shared with other parties or used to compete with the new standard in retail, offering consumers the assurance of 100% product authenticity, guaranteed fast delivery. CaribMall preferred a platform for brands and sellers to directly engage and create a customized experience for their customers. We’ve evolved a suite of options that cater to existing preferences while easing customers into digital payments through intuitive solutions they can trust.