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Quick Commerce

Quick Commerce: Are You Aware of Your Product Availability?

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Product availability is the key issue for brands looking to expand their presence across the fast-paced E-Commerce landscape. With more funding coming in, Q-com platforms are getting over the issues that hindered their progress so far. With the expansion of new categories that cater to shoppers’ last-minute needs, quick commerce platforms are expanding their horizons. As more and more brands are turning towards quick commerce platforms around the world, they also need to measure and monitor performance across platforms and geographies. Let’s dive deeper and assess the core issues that brands face on quick commerce platforms and how they can overcome such challenges and boost efficiency across platforms. Different Quick Commerce Platforms Pose Different Challenges Every quick commerce or e-commerce platform has its own set of challenges, with different requirements and regulations for brands to optimize product pages and boost their share of search. Here are some of the key challenges that are roadblocks to brands’ success. 1. Optimizing Product Page Across Quick Commerce Platforms On e-commerce platforms like Amazon and Flipkart perfect page analysis is key for brands to understand what’s working on one platform and not working on the other or vice-versa. eCommerce Competitive analysis at the platform level helps enhance performance on the platform. This means keeping up with the content optimization requirements in the title and description across platforms. However, this approach needs to vary based on the platform. On Quick Commerce platforms optimizing the title became critical along with product images with key ingredient details on them as most q-com platforms do not have detailed product pages. 2. Tracking Product Availability in Real-Time Across Quick Commerce Platforms When a product goes out-of-stock brands for sure lose out to competition as quick commerce users seek rapid fulfillment of their requirements. For example, if a shopper is looking for 5 kg Atta (Flour) and our brand is not available the brand the person generally uses or knows about, the person will simply switch to the next best option and maybe stick to that choice next time. So, the brand not only loses a loyal customer but also loses the shopper’s trust in their brand. This is a very common shopper behavior on quick commerce platforms. The purchase decisions are made quickly based on the best available products along with product pricing and offers. Another such case is availability across platforms, a shopper looking for a specific product of the brand might search on multiple platforms as well. This means brands must monitor their presence across platforms at the pin-code level and on the platform’s dark stores. Case Study – How a Beverage Giant Optimized Product Availability Across Q-Com Platforms A global leader in the beverage industry, in optimizing their performance across platforms and geographies with the Digital Shelf tracker to monitor their products across Africa, the Middle East, and South Asia (AMESA). It mainly focused on enhancing its market presence by monitoring availability which includes Brand Availability Trends Availability share versus competition City-Wise Availability Trends – monthly, weekly, daily, and hourly Platform-wise & geography-wise analysis Heat map to identify new geography to target Tracking Bottlers’ (Sellers) performance Maintaining Out-of-Stock product lists & real-time alerts In October 2023 in the KSA region, product availability on platforms like Quick Market, Carrefour, and Nana stood at 28%, 57%, and 86%, respectively. However, after comprehensive real-time of monitoring stock availability, they were able to identify the gaps and by the end of November, it improved significantly across platforms, soaring to 51%, 100%, and 94% for Quick Market, Carrefour, and Nana, respectively which enhanced their presence across platforms and bolstered their brand reputation. This significant accomplishment was made possible through a data-driven strategic approach of identifying gaps, implementing real-time monitoring of in-stock and out-of-stock products across platforms, and meticulously tracking the performance of bottlers (sellers) across diverse regions. Final Thoughts When products go out of stock it puts every effort that the brand has made to mark their presence on the quick commerce platform to a standstill. The competition is fierce on quick commerce platforms, and the shoppers’ purchase decisions are swift. Brands need to be on their toes and identify new geographies where competition is available, and they are not, and where competition is facing stock-outs to score on every opportunity to become the top choice of the shoppers. Get in touch with our experts for deeper insights. Reach out to learn more!

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Middle East eCommerce

Middle East eCommerce: The Expanding Market with Massive Purchase Potential

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The digital transformation of the region is nothing less than an Arabian knight tale. The expanding landscape and diverse eCommerce ecosystem are all set to lead the global eCommerce world. Countries like Saudi Arabia, United Arab Emirates, Kuwait, Qatar, and Bahrain are the key markets that make up the core of the region.   But what does it take to be a hero in this expanding e-commerce landscape?   In simple terms – Know your competitor, stay on top of the market dynamics & trends, and tap the pulse of Middle Eastern shoppers.   As the story unfolds it requires a deeper understanding of the Middle East e-commerce landscape. So, let’s dive deeper to understand how business can drive brands in this digital ecosystem.   Middle East eCommerce – Explore, Identify and Don’t miss out on opportunities The Middle East region holds a special position in the global eCommerce ecosystem with rapid advancement in technology, the adoption rate of eCommerce, evolving and maturing consumer behavior, and internet penetration beyond tier-1 cities in the region leading market expansion and economic growth.   Digital Expansion Post-pandemic the global eCommerce market has experienced growth beyond traditional retail channels driven by an expanding number of digital shoppers. The global market is expected to touch USD 6.35 trillion by 2027*. The proliferation of smartphones, high-speed internet connectivity, and the convenience of online shopping are the key contributors to the global eCommerce upswing.   The region has risen above the challenges like the limited payment options with the adoption of swift payment options like direct carrier billing. The lack of trust in online retailers, and a preference for in-store shopping were also key challenges but the rise of online purchases and quality services by global brands has built brand trust across platforms in the Middle East digital ecosystem. Such improvement in infrastructure propels digital expansion.   According to the Mordor Intelligence report, the size of the MENA region’s ecommerce market will almost double by 2028 compared to 2023. The expected CAGR is 11.5%, and with the MENA countries’ combined GDP of US$3.9 trillion, the region shows potential for fast growth in the ecommerce market. Evolving Consumer Behavior   The Middle East has taken center stage in the global eCommerce market with massive room for expansion as several countries in the region and tier-2 cities of the most active countries are exploring the prospects of online shopping with higher access to technology and internet penetration. The support from the governments is helping the region overcome major challenges like lack of trust in online retailers, preference for in-store shopping, and limited payment options.   A notable shift in consumer has triggered post-pandemic as shoppers turned to e-commerce platforms for daily needs, electronics, and other essential goods. Convenience, product choices, and competitive marketplaces have opened new opportunities for shoppers. The market presents exciting opportunities for international brands venturing into the market along with opportunities to target expatriate populations with brands they are familiar with. The Middle Eastern young and tech-savvy population presents a vast consumer base for e-commerce expansion.  The young and tech-savvy shopping population with rising disposable income is making up a large consumer base and the market is expected to touch base with USD 50 billion by 2025. *  *Source: Deloitte | A Middle East Point of View – Summer 2023 Not just the Middle East but the entire MENA region is experiencing a massive surge in e-commerce across categories. The key drivers of this growth are rising internet penetration, rising consumer demand for value and convenience, and extensive reach of e-commerce and quick commerce intelligence platforms.  The region under the Gulf Cooperation Council (GCC) and MENA countries like the UAE, Saudi Arabia, Egypt, and African countries has grown exponentially post-pandemic.   Platform Revenue Amazon.ae US$520.1m  Trendyol US$3,215.7m Ounass.ae US$15.3m  Noon US$251.7m  Amazon.sa US$126.1m  Souq.com US$82.4m  Basharacare.com US$6.6m Mumzworld US$67.5m  Fig 01: The top revenue-generating eCommerce platforms in the Middle East region |Source: Vitro Commerce (This will be illustrated as a chart)   Middle East eCommerce Trends Growth Across Categories The shopping patterns across eCommerce platforms are different across digital ecosystems same stands for the Middle East but the core difference is the purchase potential and inclination towards online shopping.   A Blend of local brands and global names Even the biggest name in the retail market sells their product with local packaging using local language and push variants that cater to the local Flavors and cultural preferences.   Adoption of Digital Payments Digital payments are one of the core challenges in the Middle East region. The rise of Direct Carrier Billing (DCB) for swift transactions along with mobile wallets is building a payment ecosystem that encourages online hopping with integration on various marketplaces.   Focus on enhancing customer experience The need for convenience is the utmost need of the shoppers. With the rise of value-first shoppers across digital ecosystems, brands focus on providing seamless customer journeys.   Rise of Quick Commerce The expansion of the digital ecosystem demands swift delivery. The same-day delivery need has led to the rise of Quick commerce intelligence platforms in the Middle East region.   eCommerce Future in Middle East The future of e-commerce heavily relies on well-connected, digitally savvy audiences. And the MENA region has it all! Retail penetration in the region is now around 11–12% and keeps growing. Over 80% of buyers use mobile devices, and 70% of them use social media to reach the seller.   eCommerce in the Middle East statistics and trends show that Internet penetration is close to 100%, and 80% of users already buy through the internet. This is a great target audience of potential buyers for new sellers. In general, 85% of all buyers are tech-savvy and accept paying digitally.   The population’s growing buying capabilities and the building of new e-commerce initiatives by governments suggest the MENA region has a promising and thriving e-commerce future ahead of it. This makes it perfect for those who are looking for a place to start their e-commerce business.   Final thoughts The opportunities in the MENA region are unmatched. The wide variation in product categories and high purchase

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Quick Commerce

Woes in Quick Commerce: How to Optimize Your Product listings

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The rising wave of quick commerce is leading spoiling customers of choices – now the 15 minutes delivery needs are expanding across segments. The quick commerce ecosystem works differently than eCommerce marketplaces where customers spend more time in product consideration & evaluation. Here promos, availability, product bundling & combos, enticing offers on banners what attract shoppers. Here we are going to explore what makes tracking quick commerce performance for brand so essential. The challenges and what they need to catch the pace of quick commerce platform. Hot spot for Last-Minute Needs Quick commerce platforms target the daily needs of shoppers and entice shoppers to turn small ticket purchases into large volume with impulse purchases. It bundles products or categorizes them as per the needs of shoppers like party needs, puja or festive needs, daily groceries, or anything that you need at the last minute. It starts with adding just one item that you need to your cart but ends up adding more items in related categories into the cart.  This turns the low-ticket purchases into a larger shopping bag. It’s more like your neighbourhood grocery store but with product categories and products variants. Quick Commerce platforms sell at micro level with dark stores. The demand from one region varies from the other that makes availability, product categorizing and product bundling key or brands to monitor. The quick commerce sector in India currently has a market size of $700 million and is likely to grow 8 times to reach a $5.5 billion market value by 2025. The addressable market of this industry is projected to be around $60 billion. | Source: ET Retail The challenges brands face on Quick Commerce platforms   Optimizing Quick commerce Product Listings: The listing on Quick commerce needs to be tagged into to specific categories where shoppers look for with accurate category tag- listings. As quick commerce products do not have extensive product description – brands need to comply with platform-specific guidelines to show the various images of the packet with ingredient details on it. Mastering Pricing Analysis in Quick Commerce: Another core challenge for brands is setting the price and promotional offers This requires apt bundling of the products under the same category. For example, a detergent power paired with 2 soap bars or stain remover liquid. But the catch here is the resellers bundle their product without brands being aware of and damaging brand reputation and product worth. Efficiency of Q-com Banner: Brand must be aware of what shoppers are looking for and ensure that is promoted on the brands ad banner theme for example during Raksha Bandhan a top chocolate brand offering celebration offer and offering high promotional offers during the peak hours of the festive season. Brands must be aware of ad traffic but also the performance and compliance of the banner ad with notification on if it is running on slotted time, visibility of banner, theme and keywords on the banners. How Digital commerce intelligence on quick commerce platforms will lead the way Quick commerce platforms have taken the retail industry by storm, revolutionizing the way consumers shop for everyday goods. Brands are realizing the immense potential in this space and are actively looking to optimize every step of the customer journey. Brands need to optimize very step of customer journey across quick commerce platforms to edge ahead. Real-Time Stock Availability Alerts One of the crucial aspects of quick commerce is ensuring that products are available when customers want them. Real-time stock availability alerts can help brands keep track of inventory levels across various outlets. When an item goes out of stock, the system can instantly trigger alerts to replenish the inventory. This ensures that customers are not disappointed due to stockouts, enhancing their overall shopping experience. Enhance Share of Search with Title Keywords In the digital realm, visibility is key. Brands must optimize their product listings with relevant title keywords to improve their share of search. When customers search for products, having the right keywords in product titles can boost your products’ chances of being discovered. Digital commerce intelligence tools can help identify the most relevant and high-impact keywords for your products, increasing your visibility on quick commerce platforms. Optimize Banner Performance Banners play a significant role in attracting and engaging customers on quick commerce platforms. Brands should continuously optimize banner performance by focusing on images, themes, and keywords. Digital commerce intelligence tools can provide insights into which banners are performing well and which need improvement. By analysing customer interactions and click-through rates, brands can fine-tune their banners to drive more conversions. Track Pricing & Promo Trends Pricing and promotions are crucial factors that influence customer buying decisions. Brands must closely monitor pricing and discount trends in the quick commerce space. Digital commerce intelligence can help track competitor pricing strategies and identify opportunities to offer competitive prices or attractive promotions. Staying ahead of pricing trends can give brands a significant advantage in the market. Opportunities in Quick commerce What seems like a turbulent time for Indian Quick commerce platforms turned upside down with hefty investment into Zepto and it became the first unicorn of 2023. Zepto, a grocery delivery company, secured a massive $200 million in fresh funds and were valued at a whopping $1.4 billion. On the other hand, Q1 FY24 of Zomato-owned Blink It made 384 crore revenue over 2140 Crore Gross Order Value with reduced EBITDA for the quarter. The platforms are looking to be innovative and investing in dark stores with more focus on swift delivery and a larger assortment. This is the perfect time for brands to focus on Quick commerce and overcome the optimization hurdles with digital commerce intelligence. Final Thoughts Quick commerce is reshaping the way consumers shop, and brands need to adapt to this evolving landscape. The competition across quick commerce platforms is growing with more choices for the shoppers across categories. The competitive landscape requires swift monitoring of product performances versus competition and data-driven decision strategies. By keeping track of stock availability, enhancing share of search, optimizing banner performance, and

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evolving-consumer-dynamics

Middle East eCommerce: The Evolving Consumer Dynamics in the FMCG Segment

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The eCommerce landscape is expanding as more brands are exploring the global market and local marketplaces cashing in on local sentiments. The Middle East is one of the largest global marketplaces. It caters to shoppers from various ethnicity with wide variations in demand and product choices. Thus, the marketplace is a good mix of products from various other regions, globally renowned brands, and local traditional known names. eCommerce segments like beauty & personal care, electronics, and FMCG (Fast Moving Consumer Goods) have moved up with rapid stride across middle eastern marketplaces. In recent years, the FMCG sector has stood out among the expanding Middle East eCommerce market. Factors such as population growth, rising disposable incomes, urbanization, and changing consumer preferences have created a favorable environment for FMCG companies. One of the biggest markets in the region is the UAE with predicted eCommerce revenue for 2023 estimated around US$11,782.3 million. The next is the KSA (Kingdom of Saudi Arabia) with annual eCommerce revenue of approx. US$8.53 billion in 2022 which is expected to hit US$20.01 billion revenue mark by 2027. Source: Mordor Intelligence Report FMCG companies on eCommerce, Quick commerce, and D2C platforms in the Middle East are poised for continued growth and success if they stay attuned to changing consumer dynamics. Brands can thrive in this dynamic market and capitalize on the opportunities presented by the region’s evolving consumer landscape. Let’s take a deep dive to examine the current state of the FMCG industry in the Middle East and its future prospects with evolving consumer dynamics. Understand the Arabian Way Global FMCG companies in the Middle East need to adapt products, packaging, and marketing strategies to align with local tastes, preferences, and cultural considerations will help companies establish strong connections with consumers. The eCommerce market size of Middle East by 2025 is expected to reach US$27 billion, growing by US$10 billion from 2020. Source: Mordor Intelligence Report Brands on the eCommerce platforms need to continue focusing on diversification to stay relevant in the market. The Middle East’s young and digitally savvy population will continue to drive the adoption of e-commerce, making it imperative for FMCG companies to establish a strong online presence and optimize Delivery Turn-Around-Time (TAT) to cater to evolving consumer behavior that demands swift delivery. Market Trends: The Middle East has become a crucial market for FMCG products. The growing middle-class population, rapid urbanization, and expanding eCommerce retail infrastructure have driven the demand for consumer goods. Additionally, the region’s young and tech-savvy population has embraced e-commerce platforms for FMCG purchases, presenting opportunities for both local and global companies. To stay ahead in the fiercely competitive landscape brands must: Track global & local competitors’ products performance vs yours across eCommerce platforms Monitor Search of Search and Visibility Share across platforms & locations Identify new opportunities -demographics or geographies to target in your market segment Set market strategies based on insights & analytics Enhance content to suit the local shoppers’ needs by identifying high-performing keywords Shifting Consumer Demands: Consumer preferences in the Middle East are evolving rapidly. While traditional brands and products still hold significance, consumers are increasingly seeking healthier and more sustainable options. The value-first shoppers are leading the growing demand for organic, natural, and ethically sourced products. FMCG companies are responding to these changing preferences by introducing innovative offerings and expanding their customer base but need to track what going on in the segment to stay ahead with market and competitor insights. About 46% of the budget-conscious shoppers in the UAE consistently choose private label products whenever available, and they are playing a substantial role in driving notable growth rates, particularly in the food and beverage sectors. Source: Brain & Co. Report Digital Transformation: Post-pandemic consumers have become accustomed to the convenience of online shopping and are relying more on digital platforms for FMCG needs. This shift has compelled FMCG companies to invest in e-commerce capabilities, competitive analytics solutions, and omnichannel strategies to remain competitive. In the Middle East, consumers are utilizing multiple channels, especially smartphones, to access eCommerce platforms and purchase various products online. A significant number are now shopping online at least once a month, and a PwC survey found that 73% of buyers prefer buying groceries through online platforms. Localization and Diversification: The Middle East consists of diverse markets, each with its own cultural nuances and preferences. FMCG companies that have successfully localized their products and marketing strategies have gained a competitive advantage. Adapting to local tastes, preferences, and religious considerations is crucial for long-term success. Furthermore, diversification into adjacent sectors such as personal care, hygiene, and household products presents new growth opportunities. Around 69% of UAE consumers and 63% in Saudi Arabia are willing to pay more for quality products, especially those with health benefits. Since 2020, about 75% of UAE consumers have opted for healthier alternatives while shopping, with 33% choosing organic products and 23% preferring sugar-free options. Source: Brain & Co. Report Future Outlook: The future of the FMCG industry in the Middle East appears promising. FMCG companies that embrace digital transformation, invest in e-commerce capabilities, and the adoption of advanced technologies like AI-ML-driven data analytics, and automation will enhance operational efficiency and improve the customer experience. The future of eCommerce in the Middle Eastern region looks promising, thanks to its well-connected, digitally savvy audience. With retail penetration already at 11-12% and growing, over 80% of buyers use mobile devices and 70% use social media to reach sellers. Internet penetration is nearly 100%, with 80% of users already making purchases online. Around 85% of buyers are tech-savvy and comfortable with digital payments. The region’s growing buying power and government support for eCommerce initiatives make it an ideal place where the eCommerce market will expand further in the future. Final Thoughts The FMCG industry in the Middle East is undergoing significant growth and transformation. By adapting to changing consumer preferences, leveraging e-commerce, and focusing on sustainability, FMCG companies can capture market share and drive profitability. Doesn’t matter if you are a newbie to the middle

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ecommerce-intelligence

eCommerce Intelligence – Precision Targeting To Extend Brand Reach

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Digital Commerce Intelligence also enables brands to provide a personalized shopping experience Data is turning out to be the driving force behind optimizing the customer experience. Brands guided by digital commerce intelligence move swiftly ahead of their competition and gain the competitive edge that drives sales and enriches the shopper’s experience. Let’s dive deep into how precision targeting helps extend the reach of the brand and enables enriched customer experience across multiple touchpoints in the customer journey. The Ball Is In Your Court! It’s up to the brands to explore new possibilities in the eCommerce arena and beyond. The sales channel is not limited to eCommerce platforms the omnichannel expansion across the digital commerce ecosystem has opened up new opportunities to expand and enhance customer experience. All brands need to do is identify these white spaces in business at the right moment and act quickly to score new customers. What do they need? The answer is quite obvious. Insights! Yes, Insights. The actionable insights on competition, marketplaces, changes trends, own SKUs performance, and a lot more. The rule of the game is simple – know every move of your opponent to take your game a notch ahead with a precise data-driven strategy. Leverage eCommerce intelligence for Precision Targeting Precision targeting involves focusing marketing efforts on specific customer segments that are most likely to be interested in a brand’s products. By identifying and understanding the unique characteristics, preferences, and behaviors of these target segments, businesses can tailor their marketing messages and experiences to resonate more effectively. – Data-driven strategies: Businesses can utilize customer feedback analysis, market analytics, and competitive analytics to make strategies driven by action insights. By analyzing data, businesses can identify patterns, trends, and customer preferences, enabling them to make informed decisions regarding product offerings, pricing, promotions, and marketing campaigns. – Personalization and Customization: eCommerce intelligence enables businesses to deliver personalized experiences to their customers. By understanding individual customer preferences and purchase history, businesses can tailor product recommendations, discounts, and promotions to enhance customer satisfaction and increase conversion rates. Customization goes beyond personalization by allowing customers to customize products according to their preferences. This level of personalization and customization fosters a stronger connection between the brand and its customers. – Competitive Advantage: eCommerce intelligence provides businesses with a competitive edge by helping them stay ahead of market trends and competitor strategies. By monitoring competitor pricing, promotions, and customer reviews, businesses can identify areas for improvement and develop strategies to differentiate themselves in the market. eCommerce intelligence allows businesses to identify emerging market trends and consumer preferences, enabling them to adapt their offerings and stay relevant in a rapidly evolving landscape. Strike Hard – Strike First! Make a move, based on the insights you have against your opponents. Identify the weak spots of your opponents across platforms, geographies, and product categories in terms of discoverability, availability, pricing, etc. And strike to acquire new customers. Also, identify your weak areas and plug them in before they get exploited by the competition. Cater Your Products for Your Peeps Understand the dynamics of customer behavior with sentiment analysis to make your shopper feel valued across eCommerce platforms. Brands need to understand what their customers are looking for. Precisely fill up the gap to build an effective product detail page that answers all shoppers’ needs in its title, description, Q&A, etc. – Find out what they say about your product: The Brands should be well aware of what & where are saying. We your customer make an effort to post good or bad reviews. Brands must promptly acknowledge their response and make sure the customers feel valued. Track ratings and reviews to enhance product performance. Brands must be aware of the sentiment expressed by customers about the product and how many customers are saying similar things. This information is vital for product quality management and measuring customer sentiment across platforms at brand, sub-brand, product categories, sub-categories, and variant levels. – Make Your Products Discoverable for Your Consumers: Identifying if the customer of the segment can discover your products is the first and foremost thing for an eCommerce business. Brands need to make sure that they target the right set of keywords to reach the desired segment of shoppers. Insights on the share of search, discoverability trends, keyword performance, and bidding can help the brand cater to the right audience. – Identify Patterns in the consideration process: Once shoppers discover your product, the next target is to identify what the segment of shoppers are looking for. In the consideration phase brands must set pricing and discounts to suit market trends and customer preferences. The brand must also be aware of stock availability to build customer brand trust cause one bad experience is bad enough to lose a customer. – Optimize Delivery Turn Around Time (TAT): Same-day delivery or 1 day delivery is key to acquiring new shoppers. Delivery time plays a crucial role in purchase decisions it gives a substantial competitive edge to the brands in the eCommerce marketplace. The target customer precisely requires brands to deliver on time. This helps a brand to expand to an extensive new segment of shoppers who are looking for products that can be delivered quicker than the competition. Final Thoughts The core solution to brand problems is insights into customers, markets, and competition. They set up brands to target new shoppers by identifying data patterns that guide more effective business decisions. To achieve precision in targeting, brands need to be aware of customer needs and formulate strategies based on such insights. mScanIt, E-commerce Intelligence lets brands track brand sentiment and guide brands to identify gaps in the market. The geographies they could target and demographics they could extend their product reach. Get in Touch to learn more about e-commerce intelligence. 

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purchase-phase

Purchase Phase: Push Your Sales to Boost Conversions

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The third phase of the customer journey is where the decision-making process leads to the purchase Did you know? Shopping cart abandonment rates for most market segments and brands across eCommerce platforms are still around 70%! There could be multiple reasons for that some controllable some uncontrollable. The task at hand is optimizing customer experience at the purchase phase of the customer journey. Turn Browsers Into Customers The Purchase Phase is known as the decision stage. The consumer has completed their decision-making process. Also, have evaluated your brand in comparison to others, and is now prepared to make a purchase. This is the phase where shoppers convert into your customers. “Conversion” or “purchase” are the magic words for eCommerce brands but this stage is not always a guaranteed sale. It is at this stage that you as a business have to begin delivering on any promises you may have made to get the customer to this point. This phase includes performance tracking, monitoring sales conversions, reconciliations, and reviewing overall market performance across product listings, sales platforms, and geographies. It points out areas to optimize, and monitor your sales performance across the digital ecosystem. Your brand needs to clear certain efficiency checkpoints to optimize the purchase phase of the customer journey in the digital commerce ecosystem. Checkpoint I: Sales Performance To effectively monitor sales performance, businesses need a comprehensive sales analysis. Map brand sales data across multiple platforms, products, and key variables to ensure the purchase process becomes seamless and transparent for shoppers. Shoppers have already considered your product on factors such as availability, pricing, discounts, and reviews. If at this point item added to the cart does not end up in purchase, you need to identify the parameters that impact sales conversion. – Mapping brand sales time trends across platforms for your brand: Understanding how your brand’s sales fluctuate over time across different platforms is important. This information allows you to identify patterns, follow up on seasonal trends, and the impact of marketing campaigns on your sales. – Providing in-depth weekly sales insights: Regular monitoring of sales data is essential to stay ahead of any changes. By analyzing weekly sales insights, you can track fluctuations in sales, availability, pricing, ratings, and organic and sponsored rankings. This helps you promptly identify any issues and make data-driven decisions to optimize performance. – Business Impact of Monitoring Sales: Monitoring sales performance has several key impacts on your business. It enables your brand to streamline your efforts by comparing your key performance indicators (KPIs) against total sales. By identifying strengths and weaknesses in your sales strategy, you can visualize solutions and make informed decisions based on precise sales data. Checkpoint II: Market Performance Understanding how your brand performs in the market is crucial for sustained success. Even if you map the entire customer journey on various touchpoints brands need to maintain a scorecard of market performance. Monitoring market performance involves tracking brand-specific markets, market trends, and sub-category performance. – Tracking brand performance on product sub-categories compared to the competition: Analyzing your brand’s performance in specific sub-categories allows you to gain insights into your market share, identify areas where you excel, and discover growth opportunities. By benchmarking against competitors, you can make strategic adjustments to gain a competitive edge. – Monitoring month-over-month positive and negative changes in brand performance: Keeping a close eye on changes in your brand score is essential for understanding market dynamics. By tracking fluctuations and identifying positive and negative trends, you can proactively address issues, capitalize on opportunities, and refine your marketing and sales strategies. – Insights into the brand and individual brand score trends at brand and sub-category levels: In-depth insights into brand and individual brand score trends provide a comprehensive understanding of your performance. This information allows you to assess the impact of your marketing efforts, pricing strategies, customer sentiment, media presence, product availability, and best-seller scores. It empowers you to make data-driven decisions to enhance your brand’s positioning. Business Impact of Monitoring Market Performance: Monitoring market performance covers a broad spectrum, including SKU performance at the brand and product sub-category levels. It offers valuable insights into how your brand is performing in targeted markets and sub-categories. By tracking market trends and benchmarking against the competition, you gain a competitive advantage, identify growth opportunities, and refine your strategies accordingly. Checkpoint III: Sales Reconciliation Reconciliation is also the key part of this phase as it brings in transparency and ensures there is no discrepancy causing friction in the customer journey. It includes monitoring the return status across sellers, platforms, geographies, etc., and checking up on store performances and SKU sales. Final Thoughts In the highly competitive eCommerce landscape, customer retention is vital for sustained success. Monitoring sales and market performance provides valuable insights into your brand’s strengths, weaknesses, and areas for improvement. By leveraging precise sales data and market trends, businesses can optimize their strategies, boost sales, and deliver on customer expectations. By embracing these efficiency checkpoints and making informed decisions based on data-driven insights you can position your brand for long-term growth and profitability. mScanit, digital commerce solution can help you with end-to-end actionable insight and analysis vis-a-vis competition. It gives you that added edge that you need to stay ahead of your competition. Connect with us if you like to know how your brands can optimize the customer journey with digital commerce intelligence. The competitive digital commerce landscape means brands need to be on their toes on every phase of the customer journey – awareness, consideration, and purchase.

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consideration-phase

Consideration Phase: What Makes Shoppers Pick Your Product?

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The second phase of the eCom Customer Journey is where shoppers evaluate and consider your product The job is not done yet. Creating awareness and generating interest in your product is just the beginning. To truly win over shoppers and make your product the top bargain, you need to excel in the consideration phase. “ACCORDING TO A SURVEY REPORT, 85% OF CONSUMERS COMPARE PRODUCTS BEFORE MAKING A PURCHASE ONLINE” This is the phase where shoppers evaluate your product for their purchase decision. They go beyond the product description and start asking questions like: Is the product available? Does the price suit their budget? What are other customers saying about the product? When will it be delivered? These are the key questions that need to be addressed during this phase. Checkpoint I: Quest for the perfect price Pricing plays a crucial role in a shopper’s decision-making process. It is essential to analyze and determine the perfect price point for your product. Conduct thorough market research and competitor analysis to ensure your pricing is competitive and attractive to potential customers. To optimize their performance with the right pricing brands need: Identify and monitor pricing & discount trends Boost market positioning with the better pricing decision Identify MAP violations across platforms “ACCORDING TO A SURVEY REPORT, 57% OF CONSUMERS CITE PRICE AS THE MOST IMPORTANT PURCHASE CRITERION” Checkpoint II: Stock it up Product availability is a significant factor influencing purchase decisions. Nothing turns away a shopper more than finding their desired product out of stock. Implement a robust inventory management system to track and ensure sufficient stock levels. Anticipate demand patterns and replenish stock accordingly to avoid missed opportunities. Being aware of their stock situation across geography and platforms brands need: Insights on competitors Out-of-Stock (OOS) gives for pushing own brand on such geographies The optimized stock status also ensures that competition does not eat up their brand market Upswing buy-box wins with improved availability across geographies “44 PERCENT OF CONSUMERS CHOSE TO PURCHASE THE PRODUCT AT A DIFFERENT RETAILER WHEN THE PRODUCT WAS OUT OF STOCK.” Checkpoint III: Lend Your Ears Listening to your customers is vital in the consideration phase. Analyze customer feedback, reviews, and ratings to gain valuable insights into their experiences with your product. It helps brands address any concerns or issues promptly and make necessary improvements based on their feedback. This not only builds customer trust but also helps in product refinement. To understand customer sentiment brands need: Provide actionable insights for every department in the company to improve product pricing, packaging, and logistics Optimize product experience for the customer and thereby reviews and ratings Insights unraveling what’s working for the brand and where need to improve in terms of price, quality, quantity, packaging, taste/flavor, genuineness, delivery, etc. “ABOUT 70% OF CONSUMERS HAVE CHANGED THEIR PERCEPTION OF A BRAND BASED ON IF AND HOW THE COMPANY REPLIED TO AN ONLINE REVIEW” Checkpoint IV: Seller Check Collaborating with reliable sellers is crucial for maintaining a positive brand image. Regularly monitor and evaluate the performance of your sellers. Ensure they meet your brand’s standards in terms of product quality, customer service, and adherence to pricing policies. Take appropriate actions if any issues arise to maintain consistency and reliability. To stay updated on seller activities your brand need to: Monitor Best performing brand in the sub-category Actionable insights for making effective decisions to upswing product into being a best seller Boost the brand’s positioning in the market Checkpoint V: Deliver on time Timely delivery is a key factor in customer satisfaction. Monitor and optimize your delivery process to ensure that orders are fulfilled promptly. Set realistic delivery time frames and communicate them clearly to customers. By consistently delivering on time, you build trust and enhance the overall customer experience. For uplifting delivery performance and build customer trust your brand need to: Optimize delivery time/TAT Ensure faster delivery across product categories especially for the best sellers Upswing Amazon Buy Box win percentage Checkpoint VI: Stay SKU healthy Each stock-keeping unit (SKU) represents a unique product variant. It is crucial to track the performance and health of your SKUs. Analyse, identify underperforming SKUs, and take necessary actions such as promotions, marketing campaigns, or discontinuation of low-performing SKUs. By optimizing SKU performance, you maximize profitability and align your product offerings with customer preferences. Understand your SKUs and optimize performance through: Deep Insights into Perfect Page Analysis of SKU Monitoring inventory, and financial analysis at the SKU level Find new ways to push products based on perfect page scores and better the product experience Final Thoughts To be on top of the competition, brands need an extra impetus to stay ahead. Digital commerce intelligence provides that edge by optimizing every touch point across the customer journey. The consideration phase is a make-or-break moment for brands as customers evaluate and make purchase decisions. Imagine a scenario where your product goes out of stock during a holiday season sale, or your competitors are driving more sales through dynamic pricing and discounts. To avoid such scenarios, it is crucial to optimize the consideration phase using mScanIt digital commerce intelligence and rewrite your brand’s success story. Wait! It’s not over yet the final phase purchase phase is still due. Follow up and discover what your brand needs to optimize the customer journey and boost efficiency across the three phases.

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Augmented Reality in eCommerce: The Future of Online Shopping

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Augmented Reality is taking the customer experience to the next level with eCom platform optimization Leap imagination and turn it into reality. It might be a tough task in life but now possible with product previews on eCommerce platforms. Need not imagine how a lamp would look on the bedside table or wonder will this lipstick shade suits my lips. All you need to do is click a picture or video upload on the eCom platform and see how that product fills the blank space with Augmented Reality. The lack of a full sensory product experience is a major obstacle in online shopping. Physical stores allow you to try on clothes, feel fabrics, or visually assess the size of a couch in a space. However, with augmented reality (AR) applications, customers can gain more comprehensive product information without leaving their homes. Let’s dig deeper to understand how Augmented reality is paving new ways to optimize customer experience and eCom platforms as well. Augmented Reality in eCommerce By using Augmented Reality for product display eCommerce marketplaces and brands are steadily moving towards providing customers with a more inclusive and immersive experience. A real-world-like environment with an interactive enhanced experience via digital elements, visuals, sounds, etc. Allowing shoppers to watch products in 3D or preview in their environment virtually like placing the item say a sofa in the space in your living room. In simple terms, Augmented Reality (AR) simply augments an existing world. Augmented Reality (AR) provides previews by placing items in a real-world scenario. For example, try out frames on Lenskart after uploading your headshot video, ‘Amazon view’ which enables shoppers to try on lipsticks by uploading pictures or live video, and an AR-powered ‘view in my room’ feature. Think back to Pokémon Go, one of the most well-known applications of augmented reality. Users would be playing the game while walking down the street, looking at the real environment through their phones, which overlaid digital characters in specific places. Augmented reality is taking off rapidly. More & more advertisers and brands are deploying it to enhance customer experience. A report by eMarketer stated that over 43 million people in the United States, which is approximately 21% of social network users, were expected to use social network AR monthly. The same report indicated that 35% of U.S. respondents had used AR to customize furniture or vehicles. This is not just relevant for the U.S. but quite evident in the global digital commerce landscape, especially in India where shoppers from tier-2 and tier-3 cities are warming up to online shopping with massive buying potential. With the increase in 5G availability and improved bandwidth, retailers are expected to show more interest in AR and VR experimentation. As a result, more brands are adopting AR product previews, such as “Amazon View” and Flipkart’s “View in My Room”. AR is particularly popular in the Beauty & Personal care segment for try-on purposes and in Home Décor & Furniture placement in a room. How are eCom businesses using AR? AR previews of products help customers make a purchase decision and make the shopping experience more personalized. – Virtual Try-On: It’s just like in a brick-and-mortar shop where you see a product on a mannequin, it looks great. But trying it helps make a more accurate purchase decision. Similarly, the virtual try-on uses the shopper’s photo or video to preview how the product looks. This also helps buyers understand what they are buying and if the item works for them. – Preview placement: For the Home décor and furniture segment preview placement is the perfect tool to attract shoppers. It helps place items in your room at your desired place. Shoppers can see how a 55’ inch TV would look on the wall or will that color and design bed will suit their bedroom. The real-time preview placement of products in Shoppers’ environment will help shoppers decide whether the product suits their needs or not. – Interactive user manuals: This is the more extensive use of AR-creating manuals as a response to user actions by scanning product indicating buttons or using graphical arrows, animation, etc. – Social media filters: Generally used for fun. Filters can also be used for try-ons. That can help boost social commerce sales. It can be used to showcase a new product by enabling people to test out how it’ll look on them. According to a survey conducted by Google on AR usage among consumers, 66% of the participants expressed their interest in utilizing augmented reality technology to aid them while shopping. How Augmented Reality can help eCommerce brands? The challenge of representing a physical product in a virtual environment is one of the biggest obstacles to eCommerce. AR technology has the potential to help overcome this obstacle by providing a more accurate representation of the product and helping customers understand what they are buying. Some benefits of using AR technology in eCommerce are as follows: Increase customer engagement: By offering an interactive experience, AR technology can encourage customers to stay on your website longer, increasing the chances of a purchase. Even if they do not buy it immediately. Engagement with the brand and product can lead to better recall in the future. Reach new customers: To stand out in a crowded market, you need to create a buzz. A well-executed AR campaign can help capture attention and attract new customers. Reduce returns: AR technology can provide customers with a more comprehensive view of the product than static images or videos. By showing how a product would look in a consumer’s space, AR technology can help reduce the likelihood of returns due to unmet expectations. According to recently published data by Shopify, an eCommerce platform, products that featured VR/AR content in their advertisements experienced a 94% increase in conversion rates compared to products that did not have such content. Final Thoughts – What’s Next? Augmented Reality is interactive and helps during the product evaluation and consideration phase of the customer journey which leads to purchase decisions,

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Amazon Buy Box: 5 Ways to Win It

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Buy Box is the fiercely contested prized possession of sellers in the eCommerce arena. The battle is for the shoppers’ attention as sellers’ success and growth on the eCommerce platform mostly depend on it. According to a research report, approximately 82% of all sales get converted due to the Buy Box. The fact clearly, reflects why every seller seeks Buy Box on the eCommerce platform. Amazon Buy Box is the most coveted need of every seller on Amazon, the world-leading e-commerce Marketplace. So, take a closer look and find out how to win an Amazon Buy Box. What is Amazon Buy Box? Simply put, it’s a CTA that takes a shopper directly to the purchase page and leads to a swift purchase. But not every seller has it. Let’s first understand why it’s so valuable and what makes sellers eligible for a chance to win the buy box. Amazon has mainly 5 types of sellers – Manufacturer & Direct-To-Consumer (DTC) Brands, which Produce and sell their products under their brand names, Private Label Brands, which Sell products manufactured by a third party under a different brand name, Factory Brands, sourced from often overseas factories and go direct to global consumers with more often at comparatively lower prices, Resellers, who buy products in bulk and often sell them at a higher price to make a profit and Aggregators, Companies that purchase multiple Amazon brands to consolidate and grow them. Broadly they can be put into two selling methods Amazon itself, 1st party sellers sell wholesale to Amazon and Amazon acts as the retailer selling to customers, and 3rd party sellers sell directly to customers via the Amazon Marketplace. Buy Box quickly takes shoppers directly to the purchase page, avoiding spending time considering whom they are buying from Amazon or 3rd third-party seller. Only businesses with excellent seller metrics can win an Amazon Buy Box. Not every seller is eligible to win a Buy Box. Why it is important? Nearly 80% of all Amazon’s sales come via the Buy Box. In 2021, $389 billion worth of sales among net revenue of over $469 billion came from Buy Box purchases. This clearly, reflects Amazon Buy Box Win boosts sales. Sellers must meet the following metrics* to win the Buy Box: ​Key Matrices Requirement Order Defect Rate (ODR) < 1 % Cancellation Rate (CR) < 2.5 % Late Dispatch Rate (LDR) < 4 % Valid Tracking Rate (VTR) > 95 % On-Time Delivery Rate (OTDR) > 97 % Invoice Defect Rate (IDR) < 5 % *Subject to changes as Amazon keeps raising the bar on eligibility to win Buy Box. 5 Ways to Win Amazon Buy Box Sellers having significant order volume and quality products can strive for Buy Box. Here the quality of products is measured via Seller Controllable Return Rate (returned or refunded due to product-related issues) and Customer feedback & ratings. Amazon keeps on raising the bar, The digital e-commerce Seller needs to ace the performance matrices to boost their chances of achieving more Amazon Buy Box wins. Here are a few ways sellers can boost Amazon Buy Box win percentage. High-quality products: A genuine and high-quality product can delight the shoppers reduce return requests, curb defects and enhance customer ratings which lead to higher chances of Buy Box wins. Optimize Products Listings: Product listings are like the physical storefront, where shoppers get attracted by the looks, title, and description. Create product pages accurately with high-performing keywords, bullets in descriptions with product features, and high-quality product images. Cataloging and categorizing products are also crucial to avoid customer confusion. Offer competitive pricing: According to Amazon, you can automatically increase your chances of winning the Buy Box by listing your product within 5% of the current Buy Box price. Optimize Delivery Turn Around Time: Amazon customers expect to receive their orders by the estimated delivery dates and delivery leads to a higher win box %. Respond to negative feedback: High rating & review leads to a higher boy box win percentage. Amazon always strives for a high customer satisfaction level. 92% of customers say they will buy again from a brand if the returns process is easy. That’s exactly what you need to focus on by offering hassle-free returns and exchanges, leading to a positive return experience. Final Thoughts – Keep Your Eye on The Digital Commerce Landscape The bottom line is performance optimization is key to upswing Buy Box win percentage. The massive product range and variants on Amazon means cut-throat competition. A pinch of slip-up by brands and sellers can lead to a loss of sales and customer drop-off. To prevent such fallacies and boost chances to Buy Box wins brands and sellers must plug in e-commerce analysis. Keep an eye on multiple product performance matrices like product share of Shelf, visibility share, the content of product page, product stock availability, pricing, delivery turn-around-time, etc. The actionable insights and dynamic dashboard of mScanIt, an e-commerce competitive analysis can help brands optimize their customer journey on multiple touchpoints. It keeps track of sellers’ performance and Buy Box wins across geographies and digital commerce platforms. The Buy Now button on the product page is the ladder that takes your product to the top amidst the vipers of competition waiting for you to slip up. eCom is not a game of snakes & ladders it is a place where data-driven decisions thrive and earn multi-fold sales with Buy Box wins. Get in Touch for more information about Amazon buy box.

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Uncover New Opportunities: Fill the White Space in eCom Landscape

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The cursor blinking on a blank page is the writer’s white space waiting for sweaty palms and dry throat to relax and get over the excruciating writer’s block. In business, things are not that different or as nerve-wracking yet very exciting. It is all about identifying the target and formulating strategies to acquire these white spaces on the eCom landscape and uncover new opportunities. Is it that easy? Certainly not. Brands need insights and comprehensive analysis of competition or lack of it in the geography or pin-code to target. The omnichannel shopping avenues and new demographics turning to online shopping have opened up white spaces for brands to target and make their brand presence felt in the untapped territory. For Example, global QSR giant, McDonald’s started with just two items on the menu. They surveyed competitors and found out that they need to hyper-focus on best-seller items instead of expanding the menu to propel customer satisfaction. These were the white spaces in their industry. The insights helped them focus on customer service which was lacking among the competition at that time. Just imagine what ecommerce competitive analysis can do now for business – identifying White spaces and beyond. Understanding what was missing from the market, identifying what customers were lacking, and turning that industry gap into a success. Let’s dig deep and find out what exactly are white space opportunities, and how can they be turned into an asset. Benefits Of Digital Commerce Analysis to Identify White Space Digital commerce intelligence across e-commerce platforms, geographies, product categories, sub-categories, and variants vis-à-vis competition provides actionable insights. These insights and analysis help uplift product performance in existing space along with displaying brand untapped potential. Analysis of white space could help improve the product sales process, strengthen customer relations, acquire new customers, grow business reach, and enhance potential. Here are some key benefits brands can achieve from analysis and identifying white spaces: Expanded customer base Increased opportunities for upselling and cross-selling Improved customer relations, acquisition, and retention Refined sales approach and strategy New opportunities for innovation The white spaces are filled when the unspoken and unmet needs of the customers are uncovered by brands holding on to new opportunities, leading innovation, and expanding product reach. How to Find White Space in the eCom Landscape? Map New Opportunities It’s time to map your white space opportunities. The mapping can be done in 3 ways – internally-focused, externally-focused, and future-focused. Internally focused white space mapping – identify your brand or company strengths, abilities, potential opportunities, and competitive threats. The comprehensive analysis of own product performances across the digital commerce ecosystem provides a clear picture. It helps businesses determine how effectively act upon the market barriers, opportunities, and competitive threats. Externally focused white space mapping – identify products and services in the existing market failing to meet needs – potential gaps in the system, lack of competition, non-consumers, or new market spaces. Future-focused mapping – strategic forecasting, based on insights, devise business strategies based on actionable insights. Analyze Your Findings The compiled data on KPIs and power SKUs help connect the dots. The data tells the story of your product performance vis-à-vis competition. Brands monitoring their own and competition across platforms and geographies keep them on their toes. Understanding customer needs, finding out and plugging gaps in brand performance, discovering new areas to focus on, and identifying existing region that needs a boost based on platform, geography, and product-specific data insights. The analysis will highlight the white space and illustrate where you can target customers with better solutions. Accelerate Revenue by Identifying White Space Smart businesses take advantage of customer data, sales performance metrics, and competitor information to formulate cutting-edge strategies. Full visibility into your sales, delivery TAT, and customer sentiments find the gaps in your offerings and fill them with suitable action. This leads to accelerate revenue generation from the existing system and venturing into new untapped markets and demographics opens new avenues for revenue generation and expands brand reach. Final Thoughts – Get the Competitive Advantage There are many different interpretations of ‘white space’ in business. Some consider it to be all about unchartered territories, while others feel it is a lack of competition. The key is finding the white space in your market segment and identifying market opportunities that your business is capable of capitalizing on. Map out new opportunities that your business has the capability, resources, and drive to meet. Evaluating the competition marketing strategies find a white space and define your target customer. Figure out What you do better than our competition. And What do they do better than you? Competitive advantage helps position the brand in the eCommerce market segment. Finding white space may sound straightforward – but it is not. Plug in mScanIt, a Digital Commerce Intelligence Solution, to get real-time actionable insights across the digital commerce ecosystem. Monitor and analyze your product performances vs competition at every touchpoint across the customer journey. Your ‘white space’ lies in Identifying key needs within the target market that are currently not being met by any other provider. This is where the brand focus for growth should be. Get in Touch for more information. 

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