Digital Shelf Analytics

E-commerce 2024 – Vision for the Future

Leave a Comment / Blog, Digital Shelf Analytics / Expert Opinion

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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How Southeast Asia eCommerce Ecosystem is Transforming?

Leave a Comment / Blog, Digital Shelf Analytics / Anukirti Jain

The eCommerce ecosystem is expanding, with a new global market boom that is offering enormous opportunities to marketers. Southeast Asia is emerging as the next major E-Commerce hotspot. The Southeast Asia market boom is being driven by shifting consumer behavior, increased internet penetration, and young demographics. Platforms like Shopee, Lazada, and Tokopedia dominate the region’s eCommerce digital marketplace. The eCommerce market size of Southeast Asia is expected to reach $230 billion by 2025. Let’s take a deeper look at the region’s potential and how new trends are changing its future. Southeast Asia a new hub for eCommerce businesses Each country in the SEA region has its unique cultural aspect that influences purchasing patterns, multinational exposure, and ease of doing business have attracted MNCs to Southeast Asia marketplaces while also propelling local digital brands. However, the patterns and shopping experiences differ significantly from mature eCommerce marketplaces such as the US and China. The changing customer preferences and rising markets have opened new prospects for brands entering the SEA market. The challenge now is to adapt to new requirements while also meeting customer expectations by improving the purchasing experience. As compared to countries like China, where the population is declining, the SEA working population is rising and is expected to reach 23 million by 2030 (Source-Brain & Co. Report). The household income is also predicted to reach a new high of 51 million (upper and middle class) by 2030. Rise in Consumption The combination of rising household income and an expanding working class has increased consumption. By 2030, the market is estimated to gain more than 140 million new users. That amount is nearly 16% of the estimated global custom base. According to Brain & Co. Report, the region is expected to have 402 million digital consumers by 2027, with Indonesia leading the way, followed by the Philippines, Vietnam, and Thailand. Southeast Asia could become the ‘next China’ in terms of eCommerce growth potential if the current trajectory of e-commerce as a percentage of total sales and the surge in overall sales. Shift in Customer Behavior Millennials and Generation Z are driving growth in Southeast Asia’s eCommerce market. Southeast Asia study reports,60 percent of digital consumers in 6 countries are unsure what they want to buy when buying on online platforms. Impulse purchasing and product discovery when browsing, particularly in non-essential categories such as fashion clothing and consumer electronics, are the top sectors with tremendous potential. In other words, people primarily find new things when browsing, especially in non-essential categories such as clothes and consumer goods such as electronics. Patterns directing the Southeast Asian market Brands targeting nations like Singapore, Indonesia, Malaysia, and the Philippines, in the region adapting to reach the country’s technological progress and consumer habits is the recipe for digital commerce success. Trends Guiding the SEA market Brands targeting nations like Singapore, Malaysia, the Philippines, and Indonesia, in the region adapting to each country’s technological progress and consumer habits is the recipe for digital commerce success. The rise of mobile commerce The majority of Southeast Asian consumers now shop online using their mobile devices. This trend is being driven by the growing availability of smartphones and affordable data plans. Brands need to ensure that their websites and apps are optimized for mobile devices to reach this growing market. The growth of social commerce Social media platforms like Facebook, Instagram, and TikTok are becoming increasingly important for e-commerce in Southeast Asia. Brands can use social media to reach a wider audience, promote their products, and drive sales. The increasing popularity of online marketplaces Online marketplaces like Shopee, Lazada, and Tokopedia are becoming the go-to destinations for online shopping in Southeast Asia. Brands can benefit from selling their products on these marketplaces by tapping into their large customer base and getting access to their logistics and payment solutions. The focus on convenience Southeast Asian consumers are increasingly looking for convenience when shopping online. This means that brands need to offer fast and reliable delivery, as well as easy and secure payment methods. The importance of personalization Southeast Asian consumers are looking for brands that can provide them with a personalized shopping experience. This means that brands need to collect data about their customers and use it to tailor their offerings. Final Thoughts The young and feisty Southeast Asian market has touched new highs with a massive influx of brands eyeing the market. Every country in the region has a different level of penetration of eCommerce but the potential of the region is immense. The customer behavior has a lot in common with China and Korea as K-pop idols set fashion trends and Tik-Tok Shops are making waves in omni-channel eCommerce. However, the core issues in the competitive landscape are optimizing product listing and monitoring availability, keyword share, and tracking customer feedback. The mScanIt, ecommerce competitive intelligence helps brand navigate through the digital commerce ecosystem with a global dashboard to monitor product performance versus competition across categories, platforms, and countries. In this ever-evolving ecosystem brands need to be spot on identifying opportunities to stay ahead. Get in touch to learn more about brand safety in the digital ecosystem.

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Woes in Quick Commerce: How to Optimize Your Product listings

Leave a Comment / Blog, Digital Shelf Analytics / Praveen Dhama

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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Cross-border Commerce: Optimize New Opportunities with Digital Commerce Intelligence

Leave a Comment / Blog, Digital Shelf Analytics / Anukirti Jain

The world of e-commerce is expanding the international borders are no longer a hindrance in reaching out to new sets of interested shoppers instead it is an opportunity to expand, explore, and excel in new markets. But every marketplace across the world has its own guidelines, local cultural nuances, and distinct shopper behavior. Brands need that intelligence across platforms, regions, and competition to expand in the digital ecosystem. Let’s explore how digital commerce intelligence can help brands in their cross-border commerce venture and what impact it has on the digital commerce landscape. What is cross-border commerce? Cross-border e-commerce is when a brand sells or buys products across an international border or across multiple destinations through e-commerce platforms. It could be between B2B or B2C in different countries. Cross-border commerce opens doors to the global market and allows brands to access a wider customer base, making inroads into markets they may not have been able to access via traditional retail. Brands can increase their sales and revenue by targeting customers in different countries and regions, each with its own purchasing power and demand for specific products. Brands can reduce their dependence on a single market by selling in multiple countries. How does e-commerce intelligence help the Cross-Border Commerce venture? In the digital commerce ecosystem, understanding the market and open up to local cultural behavior help identify shoppers’ choices. Rather than applying the experience of one country or marketplace on the other. For instance, the customer behavior and market dynamics of Indian e-commerce is quite a contrast from the Middle East and Southeast Asia e-commerce ecosystem. Equipped with Digital Commerce Intelligence brands can keep track of emerging consumer trends, shopping patterns, and preferences in different countries. Adapting to the market requirements and customer needs. This creates the need for analyzing large volumes of data across geographies and platforms to understand international customer behavior, preferences, and market dynamics. This data can inform decision-making and marketing strategies. eCommerce intelligence across platforms and geographies can ease up the burden of brands, that have a wider global distribution network or sell cross borders on eCommerce platforms. It gives brands a competitive edge and can enhance brand exposure and visibility. It also helps establish a brand’s presence and reputation in the global market. Cross-border commerce provides brands an opportunity to target niche markets where product offerings are in high demand. Like an Indian snack brand targeting expatriate shoppers in the Middle East. Cross-border e-commerce: What you should know? Brands must be aware of the competition, market, and local regulations to build a good market share and build on using market intelligence and insights. Here are some key elements of cross-border e-commerce that brands should explore. Understand Local Trends: Adapting to region-specific trends, product specifications, and packaging helps the brand build a loyal customer base. Data-driven insights on product feedback, customer sentiments, and product detail page content help construct market strategies that suit the specific culture, language, and preferences. Boost Your Digital Presence: Enhancing your presence by bidding on the keywords that can increase your share of search in the region for sponsored listings and ad banners on the eCommerce platform. Identify what your brand needs to boost its digital shelf with platform-level intelligence versus local and global competition across categories and geographies. Know the Regulations: Understand and comply with the local eCommerce business laws and regulations of the platform. Also, prepare your product display page content specific to the platform and geographies. Know Your Competition: Identify key players across platforms under various categories, sub-categories, and variants in the target market and understand their strengths and weaknesses. Continuously monitor your performance and identify areas where you may be falling short or missing opportunities for improvement versus competition. Understand Customer & Market Needs: An understanding of customer preferences can help tailor your products and services to target shoppers in the region. The product descriptions and marketing content should be localized to resonate with local consumers and address their specific needs. Risk Management: Assess and mitigate the risks associated with cross-border commerce, such as currency fluctuations, political instability, or supply chain disruptions. Implement measures to prevent and detect ad fraud, which can be a significant issue in digital advertising. Ensure your products meet local safety and quality standards while maintaining brand consistency. Safeguard your intellectual property rights and trademarks to prevent infringement by others. Businesses need to carefully plan and execute each of these aspects to effectively expand into new markets and capture global e-commerce opportunities. Final Thoughts: Leveraging digital Commerce Intelligence for Cross-Border Commerce Digital commerce intelligence is a linchpin for brand success in cross-border commerce, providing invaluable actionable insights that can help build strategies to outpace the competition. By analysing the competitive landscape in each target market, brands can uncover gaps and advantages. Utilizing digital intelligence for real-time competitor pricing enables dynamic pricing adjustments. Connect with us to learn more about the capabilities of our digital commerce intelligence solution mScanIt, which provides a global dashboard to monitor core KPIs like availability, keyword share, rating and reviews, pricing, and a lot more across countries, platforms, and competition. Optimizing the shopping experience with data-driven insights can be a game-changer for brands in cross-border e-commerce.

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Indian E-commerce Market Trends 2024: How to stay on top of the Digital Shelf

Leave a Comment / Blog, Digital Shelf Analytics / Expert Opinion

The shopper’s behavior has evolved, with marketplaces enhancing the shopping experience with augmented reality and a flurry of mega-sale seasons. The digital shelf in Indian e-commerce landscape has witnessed some rapid changes in recent years. During the festive season in 2023, brands promoted their product with extensive sponsored activity and launched new products aggressively as it was coupled with mega events for advertising the Cricket World Cup in India 2023. But 2024 is witnessing an unprecedented rise, as Indian ecommerce market to grow to $325 billion and digital economy to reach $800 billion by 2030. What’s next in the eCommerce arena? With an expanding internet user base coupled with rising purchase power and convenience driven by Quick commerce platforms. The future of e-commerce in India is bright, as we are poised to become a worldwide e-commerce powerhouse by 2030 with 500 million online shoppers. Brands also need to up their digital shelf game to match the pace of the competitive digital commerce landscape. Let’s dive deep into what this will lead to and what to expect in 2025 and beyond. eCommerce Trends for 2024 Rise of Value-First Shoppers The shopper’s behavior is getting complex and challenging to predict day by that with multiple choices, platforms, and steep competition. Online shoppers buy different products at different prices for various reasons. Understanding their motivation and need is key to excel in 2024 & beyond. Among the most common types of shoppers are impulse buyers, casual shoppers, need-based, research-oriented, and those who follow the trends, value-first shoppers have carved their niche looking for products that offer value for money and are on par with their lifestyle needs. Brands need to tap the buying potential of such shoppers and use insights competition to become the top pick of these shoppers. Health & Wellness, Beauty & Personal Care categories are key target segments. The digital native brands (DNB) catering to such niche of shoppers also need to track competition strategies on e-commerce and quick commerce platforms. Expansion Across Tier 2, 3 Cities & Beyond Brands need to understand the landscape of online shopping has moved beyond tier-1 cities with more influx of shoppers coming from tier-2 & 3 cities. The ease of payment and high-speed internet penetration across tier-2 cities and beyond has led to rise of mobile commerce and social commerce as platforms like Meesho earned 60% of its sale during festive season sale from tier-2 cities. The 2024 is the year of expansion and discovery where tier-2 & 3 cities experience rise in presence of quick commerce -dark store for swift delivery. Even Amazon is witnessing an influx of shoppers into the prime ecosystem from tier 2 and 3 consumers discovering new categories. Digital infrastructure has advanced, significant shift is observed towards tier 2-4 towns, with over 60% of demand expected to be driven by rural India by 2026. In 2024 during the prime day sale, the e-commerce retailers saw 65 percent of the growth coming from tier 2 and tier 3 cities. Brands need to identify opportunities in these geographies and explore new opportunities. Identify gaps in the market presence at pin-code level. Personalized Experience with Global Localization The world is shrinking in terms of reach and information access. Shoppers are aware of what’s going on in the global market and what is in trend but personalized experience and connect with products is still a key point in making purchase decision. Brands selling in global e-commerce ecosystem across multiple countries must be in-tune with needs of the local market and competition activities as one marketing experience not necessarily works on other marketplaces. The availability mobile-first content in the local languages has led to a surge, with approx. 73% of India’s internet users using Indian languages for online shopping. This has opened the Indian e-commerce landscape to regional language base of 540 million, offering a market size of $53 billion. Brands need to provide personalized experience and keep track of what’s trending on in the marketplace in their categories to extend their market share. More Convenience with Quick Commerce The quick Commerce platforms have led to a new era of online sales with convenience and fulfilling last minute needs. India’s quick commerce market is expected to reach a market size of $5.5 billion by 2025. Brands in Food & beverage category are approaching the platforms more aggressively as its dominating over in-store sales which cost hefty margins. The key challenge for platforms and brands on quick commerce in 2024 is optimizing performance and expanding across geographies along with monitoring needs of shoppers at granular level within cities. The rate at which quick commerce platforms are expanding product categories and number of SKUs the signs are looking more positive with rise in order volume and cart value. The new trends of quick sale and product launches have been witnessed recently like Unicorn Info Solutions (Apple reseller) partnering with Blinkit to deliver the latest-generation iPhone models in minutes. Rise of D2C Commerce The D2C Commerce has been a breath of fresh air in 2023-2024 as more investment comping in the wide variety of D2C players in e-commerce 2024 is looking bright. Digital Native Brands expanding horizon beyond their e-commerce websites and venturing into the e-commerce marketplaces and quick commerce arena. With the extension of reach and new sales platforms D2C ecosystem is all set to achieve new milestones in coming years especially in Beauty & personal care, Fashion and Health & Wellness product categories. D2C brands do not need extensive inventory tracking but need to be aware of the competition in traditional e-commerce and in niche categories. Digital commerce intelligence for them is more about identifying the gaps in the market and building data-driven strategies. New Avenues are opening and expanding like social commerce. Social Commerce landscape is about to expand market size of $ 70 billion by 2030, with rise in influencer marketing in D2C space and gaining wide appeal. E-commerce Intelligence for Competitive Monitoring Data driven growth is the mantra for 2024 and beyond. To

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Be Sale-Ready: Stock it up to score big on the Black Friday & Diwali Season Sale

Leave a Comment / Blog, Digital Shelf Analytics / Expert Opinion

Is it too early to talk about it? Is It? Not Really! Time is running out! To a shopper, it may seem like a couple of days of sale but for brands the preparation begins at least a month early, we have already entered the festive season followed by a mega season sale on Amazon, Flipkart, and Myntra building up to the Diwali Weekend. Every brand must be aware of who, when, and where to target and what their competitors are up to. The path to score big on sale event season is not easy. Black Friday sales globally broke records in 2022, shoppers in India increased their orders by 65 percent as compared to 2021 and their spending by 64 percent during the sale week compared to the usual period. And new milestones are expected to be set in 2024. So, what are we waiting for let’s dive deeper to understand the challenges on event days and how brands can make optimal use of these opportunities during the sales season and beyond. Identify the event days to target Every eCommerce platform has different reach and preferences. Knowing where you more picked up and where you need to target is key to optimizing your marketing strategies. Event days like Black Friday and Diwali sales witness a rapid increase in order volume. Brands need to identify the gaps in the market during these event days and target ads & promo offers to reach new shoppers. Every platform has different shopping patterns and different event days, therefore brands need to keep up with platform-specific requirements. Every year consumer activity is dispersed more evenly throughout the sale period and is less focused on just Friday. A lot of companies extended the sale period to include the days leading up to and following Black Friday till the following Monday known as Cyber Monday. Even Indian festive season sale runs before the Diwali week with product expected to be delivered before Diwali. Shoppers are always eager to take advantage of the limited-time deals, which results in a higher number of orders within a short period. Brands need to ensure their systems can handle the increased load and that their logistics are well-equipped to manage such a surge in orders. Amazon Great Indian Festival 2023 witnessed a record 9.5 crore customer visits within the first 48 hours. 80 percent of the shoppers were from non-metro cities. Source: Amazon India Match product demand with Order Fulfilment One of the critical aspects of these event days is ensuring efficient order fulfillment. Brands need to ensure that they have enough stock available in their warehouses to meet the increased demand during the sales period. Having the right amount of inventory is crucial to avoid stock-outs and ensure customer satisfaction. Also maintaining a well-stocked warehouse is essential to cater to the surge in orders during these events. Brands need to anticipate the demand and stock their warehouses accordingly to prevent any inventory shortages. Keep Track of In-stock and out-of-stock items: Brands must keep real-time track of their stock status, in-stock product availability tracking, and monitoring when & where the products are going out of stock. The stock situation is key during the festive season. Brands must keep track of the trends to set promo offers and match stock to meet expected demand. Monitor Price & Promos trends: Brands must be aware of key trends across marketplaces and what competitor brands are targeting. For example – In 2022, low ticket purchases and demand for unbranded fashion products from Tier-II towns and beyond propelled Meesho ahead of Amazon in terms of order volume (Source: Redseer Report), but Amazon sold items of higher values during the same period with massive rise in numbers. Flipkart and Amazon together clocked 88% of $5.7 Billion GMV during the first week of the festive season. With strong positioning in the fashion segment, the likes of Myntra and AJIO earned good numbers. Finding the right balance between pricing and volume is crucial. Offering attractive discounts and deals can drive higher sales volumes, but brands need to ensure that they don’t compromise their profitability. Strategic pricing strategies can help achieve this balance. Keep Track of Industry Trends The success of these event days often relies on the performance of specific product categories. In this context, mobile phones have consistently been a leading product category during festive season sales. They attract a significant share of the Gross Merchandise Volume (GMV), indicating strong demand. The fashion segment also plays a substantial role in driving sales, appealing to shoppers looking for clothing, accessories, and related products. For example, in the consumer durables industry, products like electronics and appliances see increased demand during these events. Similarly, the gifting industry, which includes items like cookies and chocolates, experiences a boost in sales as people often buy gifts for their loved ones during festive seasons. Optimize Sponsored Banner (Season specific): eCommerce ad banner performance is key to upswing sales during the festive season. Brands must keep track of banner keyword performance, display targeting, and category targeting. Using season-specific banners and advertisements helps brands grab the attention of shoppers who are actively looking for deals during these events. Ensure your banner theme and keywords are compelling and drive more traffic to their online stores. Final Thoughts The eCommerce event days open new opportunities for brands to boost their sales and engage with customers. This is the moment when brands also extend their reach and are able to attract new shoppers. Identifying gaps in competitors and taking timely advantages is key to excel in the competitive landscape. Also, strengthen your strategies with a data-driven approach. Business intelligence gives brands a much-needed edge during aggressive shopping bonanzas. Proper planning, inventory management, effective pricing strategies, and appealing marketing campaigns are essential to making the most out of these opportunities. mScanIt, digital commerce intelligence can pave the road map to navigate through the challenges of season sales and beyond. Actionable insights and in-depth analysis on PIs (Key Performance Indicators), availability, pricing, keywords share, Product detail

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Hit a 6 This Festive Season with the Right E-commerce Intelligence

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eCommerce has indeed gained momentum during the unprecedented Covid19 pandemic. The gain can be seen across all product categories and sectors alike. This has paved way for new players to enter the market, thus democratizing the retail marketplace for good. Last year, brands and retailers were navigating and pivoting to digital commerce and now, with the upcoming festive season, it is important to deliver to customers holistic shopping experiences and to remain relevant in today’s digitally competitive space. The amazing side to this story is that we, at mFilterIt have got you covered to make the best out of your eCommerce business in this upcoming festive season. Our 6-pillar approach will capture all the eCommerce intelligence dynamics and ensure you hit the bull’s eye! Discoverability Can your consumers find your products easily? Unless a customer can’t find you, you’re not doing something right. To be able to make sure that your brand comes to light within the first two pages of the search and understand why your competitors make it to the search, our tools give an insight into such key aspects. The tool also gives an analysis of the discount offers run by your competitors which will further help your brand develop strategies to how better offers can be made to attract more customers this festive season. Visibility Are your products being promoted? Running a successful business on an eCommerce platform and getting potential customers to buy is only half the battle. Giving them what they need at the right time with the right search is what makes a customer hooked on you. Our tool gives your business an edge by providing the right kind of visibility and also analyses the banner ad placement, competitor’s communication tactics, flash sales, and much more to help you strategize business decisions to make the most of your com sales. Availability Are your products in stock? Imagine a prospect buyer abandoning your page and heading on to your competitor’s page only the wanted product was out of stock! Such a loss! Our tool ensures that you not only get an overall stock availability but also gives a deep dive by providing availability of stock seller-wise, zip code-wise. Don’t let stock unavailability be the reason to lose out on customers this festive season. Search Analytics Is the SEO/SEM search working for you? Is your business the one that appears when a customer searches for a product you cater to? Or is your competitor outbidding you? We help you by not only giving an insight into what are the keywords doing good or bad for your business but also analyzing the ad content copy to ensure that your business does not incur wasteful ad expenditure. Performance How is the customer evaluating you? An important parameter for any business is to understand what are their customers talking about them and how well can they improve as per their customer’s liking. Our tool is adept at analysing all the ratings and reviews basis sentiment and revenue which will help you improve your product’s performance and live up to your customer’s demand. Brand Safety Are safety norms being followed? Given the festive season, it becomes a great opportunity for fraudsters to compromise on your brand’s safety by selling counterfeit products that hurt your brand reputation. Not only this, there are unauthorized sellers on e-commerce marketplaces who deal in your products which has become a major brand safety concern. Speak with us to get your free trial today!

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Customer Experience (CX): Digital Commerce En Route to Optimize the Customer Journey

Leave a Comment / Blog, Digital Shelf Analytics / Expert Opinion

Businesses that enhanced customer experience has improved cross-selling and up-selling (42%), enhanced customer retention (33%), and increased customer satisfaction (32%). The pathway to digital commerce’s success involves an enhanced customer experience. Brands must equip well to push the bar across customer touchpoints to make the journey from generating interest to the purchase & post-purchase phase. According to Forbes, Businesses that prioritize enhancing customer experience observe an 80% increase in revenue. Let’s dive deeper to understand what customer experience is and why it is so much important What is Customer Experience (CX)? Customer Experience (CX) is simply how your customer feels about your product and services. The key here is the touch point at which the brand interacts with the customer during the customer journey. The touchpoints, or moments of interaction, during the customer journey play a crucial role in shaping this experience. So how does it work? The idea is to make sure when a customer checks out your product there should be no doubt left as all his questions should be clearly answered in the product description itself, and the title should contain the keyword that attracts the shopper in the first place, quality images, and pricing to suit your targeted shopper. Once a purchase is made brands must keep track of delivery turnaround time and sellers’ performance to check up on customer satisfaction. The rating & reviews provide brands clear perspective into what customer thinks about their product and services. Brands need in-depth sentiment analysis of these reviews and ratings along to help their various department improve product quality and services. How does optimizing the customer Journey help enhance customer experience? The customer experience is subjective to how shoppers have come across your product, how the consideration phase went and how seamless was the purchase. Customer experience plays a role in converting initial attraction into consideration and consideration into purchase. Brands must be aware of what attracted shoppers to their products. Did the shopper get what he hoped for? Was the description of the product, and pricing satisfied the user? Was it good enough to convert a consideration into an instant buy? Did the delivery time suit the shopper’s needs? And how much impact does the rating and review have on the shopper? Brands must have insights into these factors to optimize the customer experience. A good customer experience not only boosts sales but also builds brand trust and loyalty leading to customer retention as brand advocacy. Here are some key touch points in the customer journey which impact customer experience Awareness Phase During the awareness phase, the challenge is to make sure your product is among the top search results. That makes bidding on the right keywords and understanding when to bid and when not to bid on keywords crucial loss as it not only. As it not only affects ROAS but also affects brand discoverability share. During this phase, brands must focus on Enhancing share of search on keywords Generating interest in your products Optimizing banners performance Monitoring competition on keywords bidding Optimizing customer experience during this phase requires brands to work on generating the interest of potential customers in the products. This can be done by making products discoverable through keyword searches, sponsored listings, and banners. Their interest in your products is piqued, making this phase critical for leaving a lasting impression. The customer experience here plays a vital role if you fail to impress the shoppers at first look with the title, and images then it leads to customers looking for other similar options among competition brands. Consideration & Evaluation Phase Once you attract shoppers to your product detail page, it is all about delivering an experience that converts that interest into a purchase. Shoppers evaluate product details if not satisfied ask questions, check out ratings & reviews, and ponder on pricing and delivery date to drive purchase decisions. Clicking on “add to cart” or proceeding to the purchase phase depends on a positive customer experience. Here are some key touch points in the consideration phase: Evaluating the product by going through the PDP description Ask questions while considering Compare pricing Check on delivery time Click on add to cart or click on the buy box Purchase & Post-Purchase Phase The final stage involves sales Tracking & reconciliation. A customer purchase experience builds brand loyalty and encourages word of mouth building brand reputation. According to PwC Survey, 73% of customers believe that customer experience significantly influences their purchasing decisions while a remarkable 86% of customers are willing to pay more if it results in a better customer experience. The customer experience is not just limited to how the purchase process went for the shopper, but it goes beyond that as it is the difference between creating a one-time customer or has built a recurring loyal customer satisfied with the experience, who gets inclined to leave a good review and advocate your brand. For example, says a customer bought some ‘baby care’ product and found that product quite effective for new parents. Leaves a review like ‘it’s a wonderful product that helps calm many my baby’. What does that do for new customers? Proves what the brand claims, assure them they are making the right buy even if the product seems a bit expensive but add value and feel good & satisfied when they make a purchase. That sort of positive impact customer experience can have on your brand even a negative review opens the opportunity for the brand to humbly acknowledge the gaps in the product and improve upon it. For example, a leading RO manufacturing brand replied to their unsatisfied customers, reached out to them, rectified to issue they were facing, and asked to update the review and rating. This kind of approach build a good repute among customers and propagate the good word. Opportunity for Brands Indian mass consumers, with an annual income ranging from ₹ 2.5-10 lakhs, are projected to be a driving force behind eCommerce growth. Enhancing customer experience can prove to

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eCommerce Seller Monitoring: Save Your Brand from Domino Effect of MAP Violations

Leave a Comment / Blog, Digital Shelf Analytics / Anukirti Jain

Identification of MAP (Minimum Advertised Price) violators in real-time is critical for brands as it could damage brand reputation and product worth beyond repair in a quick time. The path to success on eCommerce marketplaces depends upon your choice of sellers and their performance. Monitoring Seller performance gives brands a much-needed edge in the competitive digital commerce landscape. The brands selling through re-sellers need to be well aware of their performance as it directly reflects upon a brand image. Let’s delve deeper to understand why brands need to build their strategies with insights on sellers’ performance, need to track MAP violations, and how it affects brand reputation and product worth on eCommerce marketplaces. Are you aware of at what price your product is sold? Consider a scenario – India’s top water purifier manufacturing company is selling its RO via authorized seller X at ₹16,400 while another seller Y is selling it at ₹12,900 while the brand has set the Threshold price of ₹14,500. The offer is enticing for shoppers but how will it impact your brand? Prompt other sellers to lower the price This leads to a domino effect on pricing and ultimately reduces the actual worth of the product Lose the trust of shoppers due to such price variation across sellers on a marketplace It affects your distribution channel To combat such a scenario brand, need to track pricing across pin codes and platforms with seller-level analysis. These scenarios are known as MAP (Minimum Advertised Price) Violations or Pricing Violations. A Similar scenario takes place when a seller offers more discount than the brand’s threshold discount known as Discount Violations. Identification of MAP violators in real-time is critical for a brand as it could damage brand reputation and product worth beyond repair in quick time. Save Your Brands from the Domino Effect of MAP Violations The “Domino effect of MAP (Minimum Advertised Price) Violations” refers to the potential negative consequences that can occur for a brand if MAP violations are not effectively managed and controlled. When one seller violates the MAP policy by advertising a product below the set minimum price, it can trigger a chain reaction of other sellers following suit, leading to a price war. This can ultimately lead to price erosion, degrade brand value, and product worth, and reduce profit margins. To prevent the domino effect of MAP violations and protect their brand, companies can take several proactive measures: – Product Pricing Tracking: Brands should continuously monitor product prices across various eCommerce marketplaces and geographical regions. By doing so, they can identify sellers who are not adhering to the MAP policy and take appropriate action. – Awareness of Violations: Brands need to stay vigilant and promptly identify any MAP violations. Timely awareness allows them to address the issue before it escalates and impacts their brand reputation. – Strengthening MAP Policies: Companies should regularly review and update their MAP policies to ensure they are clear, comprehensive, and enforceable. By setting strict guidelines and penalties for violations, brands can deter sellers from engaging in price-cutting strategies. – Enforcement: Once a MAP violation is detected, the brand needs to take swift and decisive action against the non-compliant sellers. This could involve warnings, temporary suspensions, or even terminating partnerships with repeat offenders. By enforcing the policy consistently, the brand demonstrates its commitment to maintaining fair pricing and protecting its image. – Identifying Sellers with High and Low ASPs: Apart from focusing solely on MAP violations, brands should also analyze and categorize sellers based on their Average Selling Prices (ASPs). Sellers with significantly high ASPs may indicate potential unauthorized resellers, while those with extremely low ASPs might be engaging in MAP violations. Identifying and addressing such sellers helps in better controlling pricing and brand representation in the market. – Establishing Authorized Reseller Programs: Implementing an authorized reseller program can help brands maintain better control over the distribution of their products. By designating specific authorized sellers, brands can ensure that their products are sold through reliable and trustworthy channels, reducing the likelihood of MAP violations. – Monitoring and Reporting Tools: Brands can leverage technology and automated tools to monitor online marketplaces, flag potential MAP violations, and generate detailed reports on seller pricing trends. This data-driven approach can provide valuable insights for decision-making and identifying patterns of non-compliance. By taking a proactive and comprehensive approach to MAP policy management, brands can mitigate the risk of the domino effect of MAP violations. This not only protects their brand equity and pricing integrity but also fosters stronger relationships with authorized sellers and customers. Why do brands need to monitor seller performance on e-commerce marketplaces? Brands need to monitor sellers’ performance on eCommerce marketplaces for several important reasons: – Brand Reputation Management: The performance of sellers directly impacts the perception of the brand. If customers have a negative experience with a seller, they are likely to associate that negative experience with the brand itself. Monitoring seller performance allows brands to maintain their reputation and ensure that customers have a positive buying experience. – Quality Control: Brands often have specific standards and quality requirements for their products. Monitoring seller performance helps ensure that these standards are met consistently, maintaining product quality and customer satisfaction. – Customer Experience: Brands want to provide a seamless and positive customer experience across all channels. By monitoring sellers, they can identify and address any issues that might arise, regarding delivery time, customer experience, or product information. – Competitive Advantage: Brands usually have multiple sellers selling their products on various e-commerce platforms. By monitoring seller performance, brands can identify high-performing sellers and collaborate more closely with them to gain a competitive advantage. – Sales Performance: Monitoring sellers allows brands to track the sales performance of their products and identify trends and opportunities for growth. This data can be used to make informed decisions regarding inventory management, marketing strategies, and expanding product reach. – Monitoring the Seller Buy Box Win %: Brands must monitor the Seller Buy Box Win % to ensure marketplace dominance and maintain control

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

Leave a Comment / Blog, Digital Shelf Analytics / Praveen Dhama

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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