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Beauty Industry and Personal Care: eCommerce Analytics to Boost Brand presence in the Middle East Region

Blog, Digital Shelf Analytics /

Nothing under the sun is indeed new.  However, as technology advances, so do our approaches to timeless ideas. E-commerce stores replaced physical stores, and virtual try-ons with augmented reality are helping customers decide on product purchases across categories like fashion, appeals, home decor, beauty & personal care, etc.   Among these categories, the beauty and personal care segment is blossoming in the Middle East region with high demand for luxury skincare and beauty products with stiff competition between local brands and global giants.  The segment is no longer an exclusive segment but a regular need. The Middle East region which covers the dynamic market of the UAE, and the Kindom of Saudi Arabia, are highly profitable digital landscapes. However, to stay ahead must use eCommerce analytics to stay ahead of the competition and satisfy changing customer needs.  The Rise of Beauty and Personal Segment And Need for E-Commerce Analytics According to Statista the revenue generated in the Beauty & Personal Care Market in UAE is projected to reach US$1,218.00m in 2024.  Furthermore, in the beauty & Personal Care market, it is estimated that 24.1% of the total revenue will come from online sales by 2024.  Middle East Region E-com Analysis Local and foreign visitors make up a sizable portion of the consumer base in the major urban cities like Dubai and Abu Dhabi account for most of the UAE’s cosmetics product market.    The region’s beauty and personal care products market is forecasted to grow from $23.30 billion this year to USD$28.40 billion by 2028.  The market can be segmented based on product type, distribution channel, and price range. The product types include skincare, haircare, makeup, fragrances, and other personal care items.  Fig. 1.0: Beauty and Personal Care Segment The beauty and personal care market in the Middle East is expected to grow significantly by 2030, with a steady annual growth rate of 7.2%. Market Restraints   Competition from Counterfeit Products: The market is confronted with the problem of counterfeit cosmetics, which puts consumers’ health at risk. The presence of counterfeit products damages legitimate brands’ reputations and erodes customers’ confidence in brands.   As the digital e Commerce market restraints its best practices, how do you stay ahead of the curve?   As beauty brands focus on launching new products, they should also incorporate fundamental changes in such a competitive market to ensure their e-commerce brand stands out.  The Role of eCommerce Intelligence in the Market   Data is the new currency in the world of e-commerce. You can gain valuable insights into customer behavior, preferences, and trends by using analytics. eCommerce analytics helps brands adapt to market trends, target the right consumers, and stay ahead of the competition.    Understanding the customer’s journey and preferences is crucial for effective marketing. It enables brands to segment their audience based on share of voice, purchase history, and sentiment analysis allowing for personalized marketing campaigns.    This targeted approach increases the likelihood of converting potential customers into loyal ones.    What is the Future of e-commerce in the Middle East?   The future of eCommerce greatly depends on well-connected, digitally savvy audiences. And the Middle East has it all!    The statistics and trends show that Internet penetration is close to 90%, and 70% of users already purchase products through the internet. This is a great target audience of potential buyers for brands. In general, approximately 85% of all buyers are tech-savvy.  Tracking trends and competition with e-commerce intelligence To navigate the complexities of the eCommerce landscape with e-commerce intelligence mScanIt, a comprehensive solution adaptive to market trends covering the awareness phase, consideration, and purchase phase mScanIt optimizes the entire eCommerce customer journey covering a wide range of metrics, including keyword share, availability, pricing & content optimization, e-com ad banner analysis,  delivery TAT, sentiment analysis, seller analysis, etc.   The Path Forward   The beauty and personal care market in the Middle East presents immense opportunities for brands. However, to take advantage of this profitable market, companies must use eCommerce analytics to satisfy changing customer needs. Solutions like mFilterIt’s mScanIt provide the strategic approach needed to navigate this dynamic market, ensuring brands can adapt, compete, and thrive.  Get in touch to learn more about eCommerce Analytics in the Middle East.

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sentiment-analysis

Sentiment Analysis, Insights and Intelligence: Are You Monitoring Your Product Ratings and Reviews?

Leave a Comment / Blog, Digital Shelf Analytics /

In this competitive world, to maintain their brand image and ensure customer satisfaction, brands must comprehend the customer mindset and the most effective way to do it is through analyzing ratings and reviews. This helps the brands understand the perception of the customers, acknowledging the problems in advance and making smart choices to improve beforehand.  Why do brands need to monitor ratings and reviews?  The tracking of customer ratings and reviews is very important for Brands for many reasons.  Keyword Sentiment theme    Ratings and reviews reveal customer’s sentiments and mindset, aiding keyword sentiment theme analysis. Brands spot frequent topics and feelings in customer comments and thus get ideas and strategies to shape marketing and communication to meet customer needs.  A gap in product performance   There is often a gap between customer expectations and the actual performance of the product. These reviews, when closely monitored, can make brands aware of specific problems that customers face, for example, faulty design or quality issues as well as unmet features. By improving on these gaps in the offering, customer satisfaction and loyalty would be increased, hence creating a better product.  Share of search optimization  Ratings and reviews help the brands to remain on top in search of visibility. The chances of more consumers tracking increases with the more stars you earn. The reason behind this is that positive ratings attract more customers whereas negative reviews can damage the reputation of brands.  Sentiment analysis on customer feedback theme  Automate positive & negative detection  The computer software programs scan positive and negative reviews and stars given by customers. Sentiment analysis on customer feedback involves the use of advanced algorithms and natural language processing (NLP) techniques. This quick, easy-to-use process gives useful insights into understanding the behavioral pattern of the customer without much effort.  Trend Analysis and Brand-Wise Analysis  Sentiment analysis reveals trends and compares competitive brands over time. It helps in predicting what customers might do next, modifying their marketing plans accordingly, and staying one step ahead of competitors.  The essence of brand analysis is to allow comparison of the company’s performance with that of other firms. A company can easily identify its strengths and weaknesses by understanding how customers perceive different brands in the same industry and make strategic decisions to improve their market position.  Insights into Q&A themes  There is an element of sentiment analysis that brings out Q&A themes. This is the practice of analyzing customer reviews for frequently discussed questions and answers. Awareness of these themes will enable brands to address common customer concerns, better their offerings, and increase customer satisfaction.  Impact of Customer Feedback Analysis   Optimize product experience  The significance of customer feedback analysis in optimizing product experience is huge. Becoming sensitive to what consumers like and do not like about a given product helps brands make informed decisions about improving features, upgrading quality, and meeting customer anticipation. This leads to increased customer satisfaction, loyalty, and ultimately, higher sales.  Insights vs competition    Customer feedback analysis provides one with an edge over the others. By comparing the competitors’ feedback with those of customers, brands can recognize where they surpass their rivals or need improvement upon. As such, these findings enable brands to take pivotal steps that set them apart from the competition.  Moreover, refining marketing and communication strategies are other ways through which organizations benefit from customers’ comments analysis. By knowing customers’ main themes of discussion and the feelings expressed by them, firms can create messages that resonate well with their target audience. Therefore, this personalization increases client involvement while it also helps build brand loyalty, eventually increasing sales.  For a brand to meet customer needs, improve its products, and maintain a positive brand image; it must be capable of monitoring and analyzing ratings as well as reviews effectively in an era where customer feedback is readily available online. Brands that want to excel in the present dynamic market cannot afford not to invest in rating and review analysis, because it is not only a strategic advantage but also a necessity.  Conclusion   Consequently, brands that hope to succeed in the present-day market competition must keep themselves ahead of customer sentiments through rating and review analysis. Ratings and reviews can provide key insight into how customers perceive a brand and identify areas in which product performance is lacking leading to data-driven decisions that could enhance their products and services.  In an era where online consumer feedback is available at the click of a button, brands that effectively oversee ratings and reviews will be better placed to understand customers’ wants, perfect their products, and maintain a good reputation. In today’s dynamic market, investment in rating and review analysis is important and a must-have for firms that want to thrive.  Get in touch to learn more about sentiment analysis.

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digital-commerce-intelligence

Why eCommerce Brands Need Digital Commerce Intelligence

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“Let’s BlinkIt”, or “Look it up on Amazon” These phrases have become common in our everyday lives. This reflects how online shopping; and digital commerce intelligence are getting ingrained in our habits and their convenience has become an integral part of any shopper’s routine. To match the changing and ever-evolving customer behavior and needs shopping platforms are also expanding their inventory across categories covering every aspect of shopper’s needs from food and beverages, groceries, fashion & accessories, and home decor to last-minute needs with quick commerce. enhancing UI/UX to connect with the audience, penetrating beyond tier-1, and tier-2 cities. The eCommerce is expanding, enhancing customer experience, and even coming up with new exclusive niche categories. These are exciting times for brands and shoppers. However, as the eCommerce game is moving into the next level brands also need digital commerce intelligence to stay ahead of the competition. Intelligence across platforms and geographies helps effortlessly elevate business by strategically refining every touchpoint with data-driven decisions to optimize your customer journey across digital commerce marketplaces and product categories. Why Do e-commerce Brands need Digital Commerce Intelligence? For instance, with digital commerce intelligence – Availability analysis for a popular noodle brand, we discovered it has the lowest availability amongst the competitors, among quick commerce platforms on Blinkit it has the lowest availability of 25%. In Delhi, 61% of the listings are out of stock! Availability is almost 0% on the pin codes 110017, and 122001. Actionable insights such as these on various KPIs help brands identify gaps, track platforms, and geography with customized scheduled ed platform scans, monitoring on monthly, weekly, daily, and even hourly on certain KPIs such as stock availability, product page content, delivery turnaround time and keyword share, etc. can help a brand grow in fiercely competitive eCommerce and quick commerce landscape. Optimize Customer Journey with Digital Commerce Intelligence Every step on the e-commerce platform can be elevated to boost sales, get new shoppers, have more visibility on the digital shelf, and enhance customer experience. The biggest impact of eCommerce intelligence is that it helps optimize your customer journey to stay ahead of the competition. Phase 1: Generate Interest and Awareness In the first phase generating eCommerce competitive analysis helps generate awareness & Interest by optimizing discoverability, keyword share, and viewability of the own, competition, and other products in the market across multiple platforms. Lists out the keywords that the client should start bidding on and also the keywords where the client can stop their bidding by comparing the parameters like traffic, CTR, CPC, organic, and sponsored discoverability. Also covers discoverability and placement rank on category pages (commonly known as Browse Share). Enhance PDP page content (images, text), as per ASCII guidelines, platform guidelines, and best practices. Review, edit, and rebuild the content to meet the specified benchmarks to improve your content. Also, keep track of the Banner Visibility of own and competition brands. Analyses the eCommerce Ad banner position, content, and themes/ cohorts of advertising content such as offers, discounts, branding banners, etc. Phase 2: Optimize Consideration & Evaluation Process To ace the race, you need to be on the shelf! Availability and pricing are the keys to winning across the e-commerce marketplaces. Key track of your stock availability across sb-brand, categories, sub-categories, and product variants against the competitors’ own products. Analyze the market via competitive pricing analysis, tracker, and monitoring of pricing trends. Be vigilant for MAP violations norms and discount threshold violations. Keep track of delivery turnaround time on eCommerce platforms. Analyze the customer feedback, ratings, reviews, and Q&As on various parameters of the products of own and competition. Phase 3: Monitor Purchase & Sales Monitor the purchase phase with sales analysis. Comprehensive sales tracking and analysis that covers “What” the sales are, “Why” is the sale, ‘What’ it is, and “How” to improve the sale. Case Study – Digital Commerce A global leader in the beverage industry, in optimizing their performance across platforms and geographies with a digital shelf tracker to monitor their products across multiple KPIs like Availability, Keyword Share, Pricing & Promotion, Product Page Content, and Ratings & Reviews across the Middle East & North Africa region. In the Kingdom of Saudi Arabia (KSA) region they mainly focused on enhancing its market presence by monitoring availability and optimizing content pages. Concentrating on the beverage category, this case study delves into the challenges faced by leading beverage brands in ensuring product availability across various platforms in September, October, and November. Additionally, it explores the efforts to optimize product page content on key platforms, with a spotlight on Carrefour and Nana. Stock availability gives the brand an added edge over the competition across platforms. Intelligence on stock availability helped the brand re-stock on time and identify the demand across locations. With a comprehensive global dashboard, they were able to identify and plug the availability gaps, optimize performance, and ensure that their products were consistently accessible to consumers. 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 geography to be a target Track Bottlers (Sellers) performance Out-of-Stock product lists & alerts Maximize the impact of product pages to ensure that the product content resonates effectively with diverse audiences. Content analysis enabled brands to refine and tailor product descriptions, images, and other elements to align seamlessly with the unique requirements of each platform. By leveraging data-driven insights, the brand was able to identify and rectify any inconsistencies on PDP, ensuring cohesive and compelling brand content across platforms. This holistic optimization not only enhances user experience but also boosts visibility. Image analysis of product images Comprehensive Perfect Page Analysis (Title, content, and product reviews) High-traffic keyword and content theme recommendations Final Thought – Optimize Your Brand Performance Digital commerce intelligence helps brands explore new possibilities in expanding e-commerce, Quick commerce, and D2C marketplaces. It can monitor product performance across different platforms and geo-locations. It doesn’t matter if you are a small brand or multinational conglomerate, actionable insight, and analysis can catapult

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Share-of-Voice

How to Effectively Monitor Search Engine Share of Voice for Organic Keywords?

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Information is widely available on the World Wide Web; however, finding relatable info has become convenient through search engines like Google, Microsoft, Bing, Yahoo, etc. The biggest benefactor in this circle of search engines is Google, with expected aggregate revenue of $256.74 billion by the end of 2022. Moreover, 92% of the global organic searches happen through Google, including 96% of the mobile organic searches. Traffic generated through organic search results is important to evaluate as it detects whether the Search Engine Optimization (SEO) efforts are paying off or not? It also evaluates whether the brand is easily discoverable, types of content mediums increasing brand visibility or awareness, percentage of competitor results versus your brand, etc. Monitoring and measuring the content medium aiding your brand’s visibility shows the Share of Voice of your brand vis-a-vis the competition. Organic search results often include blogs, news articles, videos, eCommerce platforms, etc., as content mediums. The biggest advantage of outranking competitors on organic keywords is that it reduces the ‘keyword to bid’ for an organization, which supplements the advertising efforts. Therefore, dominating search engines on organic results gives an edge over the competition. Organic keywords are of two major forms, namely long-tail and short-tail. Higher the search ranking on such keywords, the higher the traffic you generate on the content mediums. Consumers often use organic keywords to find the desired product. Moreover, the top ten page results and the top three results matter the most to brands for any keyword, as they have a higher chance of generating a click-through rate. Through organic searches, users visiting brand domains often have a higher chance of becoming prospects, increasing brand engagements, and enhancing brand credibility. Monitoring and measuring the Share of Voice for organic keywords on search engines is possible using eCommerce Competitive Analytics, a.k.a. mScanIt. Monitor Share-of-Voice of Organic Searches through mScanIt Evaluate the Change in Monthly Progress The first and foremost step to evaluating the Share of Voice of organic results on search engines is to carefully review the monthly progress of the eCommerce platforms, brand website, and competitor website. Monitoring the search result analysis every month predicts the change in SOV of the three aspects, which can either show progress or regress. Brands can review and analyze results based on keyword subsets, sub-categories, and other filters using mScanIt’s Search Analytics dashboard. By doing so, you can evaluate the performance of the organic keywords at a much deeper level and use the knowledge to your advantage. Dive Deeper with Device-Based Insights According to a source, 87% of rural people in India prefer mobile internet, whereas 13% rely on widescreen devices like tablets, desktops, and laptops. On the other hand, 73% of urban people prefer mobile internet, whereas 27% search through widescreen devices (Source: Statista). Our solution monitors the Share of Voice of organic searches on all such devices every month. Brands can use the Search Result Analysis of the devices to determine the SOV of eCommerce platforms, brand websites, and competitor websites based on devices. In addition, analyzing the progress helps brands check whether they have higher or lower brand awareness/visibility versus their competition on the type of devices. The Share of Voice analysis also informs brands about the SEO needs, maps organic keyword performance, detects the most influencing content mediums, etc., based on devices. Analyzing SOV brands can find areas of improvement, top eCommerce platforms, keywords that offer the highest visibility to your brand, and more. Organic Search Result on Generic Keywords Knowing the share of organic search results for generic keywords helps a brand learn about its visibility on the commonly used phrases or keywords. Brands with the highest organic search result share have acquired more brand awareness through their website and eCommerce platform listings without paying a dime. Comparing the generic keyword results between the organic and paid search results would detect whether the brand is acquiring a higher share through their SEO efforts or bidding on the right keywords. Moreover, it compares the share of eCommerce marketplaces across its own categories. So, it detects the type of search results that offer the highest/lowest visibility of the online shopping store of your brand and that of the competitors. Conclusion Monitoring the search engine Share of Voice for organic keywords can become challenging unless you use eCommerce Competitive Analytics, a.k.a. mScanIt. The solution provides in-depth insights for the search analytics at brand, sub-category, website, keyword, and other levels. Moreover, mScanIt eases your journey while monitoring the competition’s progress in the same time frame for the same keywords. It detects insights that are not readily available with search engines and gives your brand an edge over the competition. Find out more about the advantages of mScanIt’s search analytics for your brand by scheduling a demo with us.

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Why do brands need a Pricing Tracker and Pricing Analysis across e-commerce platforms

Why do brands need a Pricing Tracker and Pricing Analysis across e-commerce platforms?

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An Indian conglomerate with pricing analysis cracked the code to excel on the online marketplaces for its natural and healthy agro-products. What are you waiting for? ‘Price’ is probably the most important factor that influences the shopper’s decision. Setting the right price on different online marketplaces and geographies is the key to becoming the top pick of shoppers. Data-driven pricing and promotion strategies enable brands to identify new opportunities and maintain top-notch performance on online shopping platforms. It makes monitoring competition prices and discounts across online marketplaces, and geographies extremely crucial. Let’s explore how an efficient pricing tracker and pricing analysis can help your brand propel on e-commerce and quick commerce platforms. Stay alert on product pricing with the pricing tracker Setting the right price on e-commerce platforms is quite a challenge and the role of sellers on e-commerce platforms becomes critical to stay ahead in the discount war. Here is the case of the popular brand n for Beauty and healthcare products, which also ventured into agro-products in 2010, but now wants to expand their presence on e-commerce and quick commerce platforms and face some steep challenges in Pricing across platforms to stay ahead of the competition and build their brand presence. The brand has an extensive presence in physical marketplaces across tier-1 and tier-2 cities making it space in competitive digital marketplaces. The special focus is on healthy cooking oil versus competition across digital commerce platforms. Challenges in Price monitoring on e-commerce and quick commerce platforms Include: Need time-sensitive data and actionable insights on pricing and discount trends to stay ahead of the competition. The city-level monitoring across platforms weekly and hourly to capture fluctuations in prices and discounts. Detecting and flagging pricing and discount violations by sellers, along with accurately ensuring compliance with pricing policies. Identifying new geographies to target e-commerce and q-commerce landscapes, and competitor presence at a granular level. Maintaining performance and reliability is crucial to sustaining competitiveness in the long term. They started competitive pricing analysis along with optimizing discoverability and availability with quick commerce solution. The results were quite evident in a short time as they started monitoring the performance of their products across platforms and geographies. They identified gaps in pricing versus competition, kept track of trends, and identified MAP or Pricing Violations by sellers at pin-code level. Monitoring Pricing and Discount trends vs competition across platforms Keep track of pricing & discount violations by sellers Monitoring products across platforms at the City Level, weekly and hourly. Identify new geographies to target on the E-commerce and Q-commerce landscape   Fig. 01: A screen grab from mScanIt – Digital Commerce Intelligence – Pricing Tracker/Pricing Analysis | Category: Oils | Sub-category: Mustard Oil | Variant: KGMO (Kachi Ghani Mustard Oil) Mild | City: Delhi The impact of Price Tracking on e-commerce marketplaces One of the major impacts of in-depth product pricing monitoring is that it enables the brand to optimize the product performance of different product categories, sub-categories, and product variants at various levels. Data-driven decision-making with actionable insights on pricing and discount empowers brands to shape strategies considering competition’s moves on different platforms, and geographies. It also enables them to monitor sellers’ performance and keep track of pricing and discount violations. The competitive intelligence on multiple KPIs helps brands identify gaps in strategy at platform level and at the tier-wise city level and explore new opportunities. Final Thought on the Need for Pricing Analysis and Pricing Tracker The Pricing Analysis across platforms ensures that the brand stays consistent in pricing versus competition. The strategies on quick commerce and e-commerce platforms may vary based on the demand for products on certain platforms and pin codes. If the brand is selling products via/ sellers or resellers monitoring what price they are selling your product helps maintain your brand integrity and reputation. A comprehensive digital shelf monitoring solution empowers brands with intelligence that can drive their business growth. It could boost their monitoring capabilities and optimize performance with the multi-facet approach which includes perfect page analysis, product page content optimization, availability monitoring, delivery TAT optimization (for e-commerce), and a lot more with customizable solutions that cater needs of your brand. So, stay ahead of the curve with a competitive edge to score big on the digital commerce landscape. Get in touch with our experts for deeper insights. Reach out to learn more!

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Build Strategies for E-commerce Marketplaces

Build Strategies for E-commerce Marketplaces

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Horses for courses – What sells more on Blinkit, might not get the same response on Zepto. On the same pin code, three different dark stores may have different product availability and more orders of particular brands as compared to others. Pricing and bundling of products also vary from one quick commerce platform as compared to others. Therefore, building a strategy for e-commerce and quick commerce marketplaces demands insights and analysis covering different platforms, geographies, dark stores, and trends versus competition. Let’s explore what it takes to build a strategy for e-commerce marketplaces and what brands need to stay competitive in a fast-paced evolving digital commerce ecosystem. Matching the pace of evolving needs of E-commerce marketplaces Gone are the days when e-commerce marketplaces were limited to metros. The e-commerce horizons are expanding to tier-2, tier-3 cities, and beyond. Ease of payment and swift internet has led to a new revolution. This scenario is not limited to a single country, but global e-commerce is picking up pace with Africa, Middle East, and Southeast Asia (AMESA) region leading the charge. The global eCommerce online sales reached $5.8 Trillion in 2023 and are expected to grow to $6.3 trillion globally in 2024 The astronomical rise in e-commerce sales and competitive landscape spicing up has opened multiple sales avenues from e-commerce brands in the digital commerce landscape which include E-commerce, Q-com marketplaces, D2C platforms, and social commerce with massive role of influencers driving sales. Building strategy with marketplace intelligence and insights can help scale business, identify market gaps, target new unexplored geographies, and target demographics. Data Driven Intelligence for e-com growth E-commerce growth requires strategies that can leverage data and insights to boost brand presence at pin-code levels across multiple marketplaces. Monitoring brand performance versus competition in the digital space is the key to staying ahead and staying competitive. Big brands with massive SKUs venturing into multiple categories, sub-categories, and product variants need comprehensive insights along with monitoring their sellers versus competition. Optimizing delivery turn-around time and identifying pricing violations are the key challenges. For Quick commerce, availability becomes a key factor. To identify gaps in strategies, tracking market trends along with varying requirements of different platforms requires high-quality digital shelf monitoring. Comparatively smaller brands looking to go head-on with established well-known global brands require insights into what set them apart and identify the market gaps and opportunities at the micro-level. ecommerce competitive analysis and actionable insights can help them identify their audience and white spaces in the market. This could enable say, a local indigenous toothpaste brand in Southeast Asia to compete with brands like Pepsodent or Colgate. May be not at all sub-categories but on say, 100gm pack at some region on Lazada or Shopee. Every brand has different needs that require a solution that can be customized to suit their needs on different e-commerce platforms. Protecting Your Brand Integrity on E-commerce Marketplaces The e-commerce strategies for brands on digital marketplaces should not be limited to just digital commerce intelligence. Both on and off-platform activities must be in sync to boost brand reputation on the platform. Therefore, here are some things brands need to elevate performance on e-commerce platforms. E-commerce perfect page analysis: On every platform and geography brands’ products may have different competition. To make this battle more interesting all platforms require a different strategy. Therefore, platform-level analysis or perfect page analysis across platforms is required to ensure consistency and brand presence across the digital commerce landscape. Analytics for its Sellers: Sellers on e-commerce platforms also need to upswing their process with Digital Shelf monitoring, Marketing Automation, and Automated Cataloguing. This can help simplify the process, and boost sales with more buy box wins. Platform-Level Intelligence: The rise of digital commerce has revolutionized the customer behavior. Options are plenty for shoppers to pick the shopping platforms and products, this makes the online shopping ecosystem more competitive. Monitoring, identifying white spaces and real-time actionable insights are strategic intelligence required to optimize performance across platforms. Final Thought Intelligence drives performance on e-commerce platforms. E-commerce strategy must cover platform-level intelligence, seller analysis, and competitive insights on KPIs like pricing, availability, keyword share, product page content, delivery turnaround time, and more. Every brand faces its own set of challenges on different e-commerce platforms and geographies, identifying the gaps, exploring new opportunities, and enabling a brand to optimize performance across categories, sub-categories, and product variants requires a data-driven strategy. Get in touch to learn more about leveraging digital commerce intelligence to build e-commerce strategies.

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E-commerce Shelf Monitoring – A Competitive Advantage in the Digital Commerce Ecosystem

E-commerce Shelf Monitoring – A Competitive Advantage in the Digital Commerce Ecosystem

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The e-commerce landscape has expanded across India beyond anyone could have expected 5 years ago. New startups are challenging the big brands in the digital commerce ecosystem. Big names venturing in on digital marketplaces expanding revenues and catering to the need for convenience for their buyers. The digital native brands have carved their niche with an expanding customer base, targeting shoppers looking for a healthy and organic lifestyle and products driven by innovation. The Indian e-commerce landscape caters to the ever-expanding shopper base with an estimated 230-350 million online shoppers in 2023. (Source: Bain & Co.) Such expansion and multi-platform sales avenues generate the need for e-commerce shelf monitoring to stay ahead of the competition and optimize the customer journey. How can e-commerce Shelf Monitoring optimize brands’ performance across platforms? A Shelf Monitoring framework in place could simplify the process with seamless optimization across e-commerce platforms and geographies. Here are some steps that can help streamline e-commerce Shelf Monitoring. 1. Discover Performance Gaps Identify if you’re underperforming on key measures. Set a checklist to illustrate – How is it measured? Set targets and notification process on where you stand on core KPIs like availability, share of search, primary and secondary PDP content, rating and reviews, seller performance (authorized and unauthorized), price parity, and more. 2. Assess Performance After identifying the areas with performance gaps, assess and analyze to establish what has caused such performance gaps. Identify where you stand versus competition across categories, sub-categories, and product variants across geographies. 3. Chart a path to remediation with the Shelf Monitoring Report Disseminate the findings work towards a correction mechanism and define a detailed action plan with timelines and accountability assigned. 4. Set Reassessment timelines Do not just limit to a one-time shelf monitoring as the digital commerce ecosystem keeps on evolving. Identify key parameters and Shelf Monitoring your progress versus competition every 3 months at least. Tweak and correct the measuring standards where and when required to improve performance standards. 5. Comprehensive Lat-long Analysis Monitoring product performance at the pin-code level enables brands to scale up the performance versus competition at the granular level. Such detailed comprehensive digital shelf monitoring can upswing brand presence across the cities on multiple platforms. The digital shelf monitoring solution, mScanIt offers such unique detailed monitoring to boost your brand presence. Benefits of e-commerce Shelf Monitoring in the digital commerce ecosystem Knowing how your product performs on a platform versus competition sometimes may not be enough – The monitoring should have a wider perspective covering different needs of different platforms and what they need to excel on various quick-commerce, and e-commerce platforms. Here are some of the key perks of e-commerce shelf monitoring: 1. Performance Enhancement By Identifying performance gaps on key performance indicators (KPIs), such as availability, share of search, content quality, ratings, reviews, and seller performance, etc. brands can enhance their overall performance on e-commerce platforms and geographies. This requires continuous monitoring across platforms, setting and updating thresholds regularly. 2. Optimized Customer Journey Enhancing customer experience is the top priority for every brand in the competitive e-commerce landscape. A thorough Shelf Monitoring allows brands to identify areas of improvement in the customer journey. This includes analyzing product detail pages and tracking customer sentiments via feedback ratings and reviews. Every step of the customer journey from interest and awareness, discoverability to the purchase phase. Optimizing these aspects contributes to a seamless and satisfying customer experience. 3. Actionable Competitive Insights Do you know where you stand versus the competition? Tracking SKUs across categories, sub-categories, and product variants on multiple platforms and geographies helps in strategic decision-making. The insights help build an understanding of the root causes behind performance gaps. It enables brands to take targeted actions with data-driven insights and build strategies with a detailed action plan, timelines, and accountability. E-commerce Shelf Monitoring enables brands to capitalize on strengths, identify weaknesses, and stay competitive in the market. 4. Maximized Revenue Potential By optimizing various aspects of e-commerce operations, brands can maximize their revenue potential. This includes improving search visibility, pricing strategies, and overall customer satisfaction. It can help boost market share and sales. 5. Adaptability to Market Trends With the ever-changing e-commerce landscape, staying proactive is crucial. An e-commerce Shelf Monitoring enables brands to adapt quickly to market changes, ensuring they remain relevant and responsive to shifting consumer demands. 6. Enhanced Brand Reputation Addressing performance gaps positively impacts the brand’s reputation. Consistently delivering a high-quality experience builds trust among consumers, leading to increased loyalty and positive word-of-mouth. Final Thoughts E-commerce Shelf Monitoring can prove to be a solution to multi-faceted enabling performance optimization and upswing growth. In a competitive landscape, every quick commerce and e-commerce marketplace has a different set of challenges, with expanding business in tier-2 and tier-3 cities. For brands venturing on multiple platforms and multiple geographies tracking and monitoring competitive trends and positioning of own brands versus competition is to optimize brand performance. E-commerce Shelf Monitoring can prove to be your perfect companion for market growth, enabling competitive intelligence to drive monitor, and optimize your product performance vis-a-vis competition along with extensive E-commerce Shelf Monitoring for platform-level optimization. Take your e-commerce effort to the next level with data-driven decisions and in-depth analysis and intelligence with E-commerce Shelf Monitoring. Get in touch to learn more about shelf monitoring.

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Share of Search

Share of Search: Tap the Power of Keywords and Reach Your Ideal Audience

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In today’s world where every piece of information is just a fingertip away, shoppers have become smart and aware. Accordingly, the brands have to be on their toes to understand what’s on the consumer’s mind. Along with it, it’s also essential for brands to keep track of their competitor’s moves. While the traditional approaches have their own space, the universal metric of Share of Search is set to open a door of effective business insights and therefore more opportunities. 61% of marketers say improving SEO and growing their organic presence is their top inbound marketing priority. Learn how Share of Search can change your digital commerce game and help you compete with utmost transparency and efficiency in the ever-evolving digital landscape. What is Share of Search? The simplest way to explain Share of Search is, that it is the percentage of search results on a particular keyword for which a brand appears. An SOS can be measured for general search queries on search engines and eCommerce marketplaces. Share of search is a powerful metric for eCommerce marketers to understand and predict their market share and growth. In terms of digital shelf analytics, the share of search enables brand owners to get transparency of how their brands are performing online in comparison to their competition, get an insight into their brand performance and also revamp their search strategies. Is Share of Search a substitute for Share of Voice? There is an existing misconception that Share of Voice (SOV) can be substituted by Share of Search as both are derived from the same concept. Share of Voice determines the market share success by comparing the brand’s advertising spend with total media expenditure within the industry. Whereas the share of search is determined based on how many times a brand’s keyword is organically typed rather than how much is spent to capture the market share. Share of search gives a fair idea of a brand’s organic reach in digital platforms. By leveraging advanced intelligence solutions, one can better understand the search behaviour of a shopper – like if people are comparing products or trying to learn how to use the products based on keyword searches. Therefore, it will not be a substitute but a collaboratively used metric to understand the pulse of the market, make crucial business decisions based on market position, and create effective strategies to stay relevant. How Search Drives a Shopper’s Behaviour? Today’s shoppers are smart and fast unlike earlier. And to tap the interest of these fast consumers, search plays a crucial role. Your product is just a quick search away. From discovering new and trending products, researching via reviews and ratings or even exploring other options, comparing prices and checking quality, they leverage the internet for everything before buying. Therefore, it has become essential for brands to stay on top of their search game to ensure they don’t get overshadowed by competitors. How does Share of Search Help to Stay Ahead of the Game? According to a study conducted by James Hankins, the share of search entails 83% of a brand’s market share. When used ideally, this metric not only provides the brand’s market position but also enables marketers to accumulate search insights based on geography and product category, thereby understanding consumer preferences. Share of search can help brands to: – Appear In The Front Shelf Stats say there are up to 60% higher chances of adding to a cart if a brand’s product appears within the first four search results. Imagine, your loyal customer is at the shampoo aisle looking for their favourite brand. But when searching your competitor’s product overshadows your product by taking the prime position in the aisle. This similar happens in online shopping when your competitors appear above you in the search results when looking for “shampoo”. If your share of search is weak, there will be a higher chance of discovery for your competitor’s product until it goes out of stock. By understanding the competing brand’s share of search, you can identify the hidden tactics in the product detail pages (PDPs) and optimize them to appear on top of the digital shelf. – Be Known for What You Do Best Improve your brand’s positioning by covering not just branded but also non-branded keywords. According to an experiment done by HP in 2022, they found that there was a rapid rise in generic search terms like “best laptops”. This experiment increased to 8.2% of customers shifting from consideration to purchase decision. The metric provides a wide coverage to the brand across both branded and non-branded keywords leaving a deeper impact on the customer’s mind. – Stay ahead of competitor’s move The product display pages [PDPs] require frequent updates to stay relevant in the dynamic environment of eCommerce businesses. 76% of the shoppers prioritise detailed product descriptions as a significant attribute when shopping. By keeping track of the share of search, marketers can effectively improve the product descriptions, outdated images and missing sections along with incorporating the best-performing keywords. This means that if you own a homemade product brand, the metric must be able to help showcase your product even when a person searches “homemade”. Stay Ahead of Competitors with Insight-driven Analytics The behaviour of a consumer’s search behaviour is dynamic and monitoring it is an ongoing process. It differs according to the stage in which a customer stands. Whether they are looking for a solution, or comparing the products with competitor’s products. All these lead to making the final decision. To keep track of these dynamic changes, the brands require a holistic and advanced eCommerce analytics solution. mScanIt is a ecommerce competitive analysis that helps to fulfil these requirements and more with a comprehensive dashboard that enables one to keep track of search rankings and provides a transparent overview of the brand’s visibility. Get in touch with our experts to solve your eCommerce woes!

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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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E-commerce 2024

E-commerce 2024 – Vision for the Future

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To expect the unexpected thoroughly shows the modern intellect”. These words of Oscar Wilde feel so apt for the post-pandemic world of e-commerce. The ecosystem picked up pace in most unexpected times and pushed the boundaries and expectations beyond what anyone could prepare for. But as the dust settled the brands and platforms are now in an intense race to go beyond just providing convenience and quality. It is about optimizing customer experience and taking efficiency to the next level. 23%–25% year on year growth is expected in India’s e-retail market. By 2028, it will reach over $160 billion USD. (Source: Bain & Co. Report) 2024 is going to be the year where brands and platforms need to efficiently predict what customers need and match the pace of evolving digital commerce ecosystem. E-Commerce vision for the future – Next level customer experience The AI/ML is changing the world as we know it with rapid pace. Brands need swift actions and platforms need wider expansions as customer behavior and needs for enriched experience are evolving. Even the world biggest e-commerce marketplace is pushing it to extend its reach with launch of new features that engage customers like recently launched AI-Generated Review Highlights. It’s a short paragraph featuring most frequently mentioned product feature across written review highlighted on product detail page. Such value to customer sentiments build trust among the new shoppers and leave positive impression. It helps shoppers purchase decision and confidently navigate. It also eases the review submission process and help combat fake reviews. In last decade, Digital native brands selling online-first make up two-thirds of sales among top 10 global e-retailers. (Source: Bain & Co. Report) In past years platforms introduced several innovations some of them specific to the Indian market. This includes features like voice search, product video, and shopping interface in regional language, which helped double the users and its usage year-on-year (YoY). To elevate the shopping experience more platforms are moving towards emerging tools such as augmented reality (AR) and AI-driven solutions in 2024 allowing customers to virtually place products in real-world settings. Pushing for initiatives such as integrated live streaming, live promotions, product highlighting, and utilizing chat features for ease in shopping and handling grievances is making the shopping experience more interactive and engaging. Influencers bring in new shoppers and new revenue streams. Live streams by influencers covering domains like fashion, lifestyle, tech, gaming, home decor, beauty, and sports are new ways to advertise products and platforms. Various marketplace and D2C brands running an Influencer Program to monetize their content and open new shopping avenues. Platforms like TikTok and Instagram are turning into new e-commerce shops bringing extensive reach to shopping platforms. Challenges for Brands and platforms in 2024 The major challenge for brands in 2024 is staying ahead of the competition and exploring new markets. The competition across e-commerce and quick commerce landscape has always been intense but now it’s fiercer than ever. Shoppers now look to explore more options and strive for products that suit their lifestyle choices. Brands that have a wide presence in the physical retail space now moving online for not just sales but visibility in the digital landscape. D2C brands which have their own set of niche audiences are now pushing for online marketplaces to expand to new shoppers. The number of SKUs that need to be monitored has risen as multiple competitors are present across categories, sub-categories, geographies, platforms, and product variants. Real-time monitoring and ecommerce competitive analysis lead to better decision-making and more decisive strategies that help, understand competition, market trends, and customer behavior. Brands monitoring their products on multiple e-commerce quick commerce and e-commerce platforms and adhering to the platform guidelines to optimize performance is key to having as successful 2024. 1 out 3 shoppers are now Gen Z and Tier 2+ cities are dominating the market with 7 out of 10 online shoppers (Source: Bain & Co. Report) For platforms, the major challenge is optimizing efficiencies and enriching the customer experience. With multiple shopping options available across geographies, it is important for platforms to provide a customer experience that makes shoppers prefer their platforms. Quick commerce platforms are not just challenging the e-commerce platforms but also making their own space among shoppers. Quick commerce platforms are got wider acceptance in 2023 and looking to expand more inventory as they move into 2024 with rising presence and demand in tier-2 cities. Swift delivery and an expanding range of product categories have made them the talk of the town for the last-minute needs be it a party, festive celebration, or daily needs. The Final Thought Adapt, learn and keep moving forward. The world of digital shopping is evolving, customer choices and preferences are evolving with individuals looking for products that suits their lifestyle needs. Brands need to keep up with the trends and stay in tune with market dynamics with competitive analytics that provide real-time data and actionable insights that can help shape brands marketing efforts and data-driven decision making. 2024 is going to be a year of evolution where data and tech will drive efficiencies and take customer experience to the next level. What brand need is a digital commerce intelligence companion in 2024 to lead their ways. Get in touch with our experts for deeper insights. Reach out to learn more!

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