Examining eCommerce and the ‘one armed bandit problem’
There is a perception in eCommerce that a focus on promoting top selling products is a sound strategy. That is perfectly logical, reasonable – and wrong.
Infact, promoting only top selling products is a complete waste of time, money and effort, which springs from a fundamental misunderstanding of the eCommerce challenge and how it differs from the offline world.
Product promotion via recommendation and search builds on one of retail’s oldest...