Gediminas Rickevicius, Oxylabs:
As Black Friday and Christmas sales draw closer, competitiveness continues to grow, forcing eCommerce businesses to collect as much information as possible. Reports state that over 50 per cent of sales this year will be processed through digital platforms, ensuring the long-term viability of eCommerce.
Recent studies show that companies that use analytics are almost 20 times more likely to be successful and have more than 50 per cent better understanding of their customers. Web scraping is becoming a vital technology for businesses that rely on data, particularly for platforms that use publicly available web data to analyse competitors, track customers, and generate leads.
With the rise of accessible analytics tools and data-driven marketing strategies, eCommerce companies now have the advantage of tracking customer needs and sentiments more accurately. It opens new ways to tailor their services and products to meet customer needs and outplay competitors in the process.
Across the eCommerce industry, big data is driving competition, and in understanding customer behaviour and preferences, businesses can target marketing efforts and personalise the shopping experience to increase conversion rates during the upcoming major sales. However, advanced analytics can also be utilised to identify patterns and trends that provide a competitive edge against other market players.
Data is changing eCommerce pricing strategies as real-time data enables organisations to track competitors’ prices and adjust their own in a very dynamic way. Dynamic pricing algorithms that take into account a variety of factors are becoming more common, further removing traditional price barriers.
Web scraping technology allows companies to monitor competitors’ price changes, quickly gather their assortment and OOS data, observe what new products are appearing and disappearing, and gain insights into competitors’ marketing strategies. According to Rickevicius, such a comprehensive understanding of the competitive landscape allows eCommerce companies to develop strategies for Black Friday and other big sales periods and expand their market share.
eCommerce companies can no longer afford to operate without web intelligence and big data. These tools are essential for staying competitive in the digital marketplace and for making data-driven decisions that foster growth and profitability. Competition relies heavily on the availability and utilisation of information. A superior understanding of the information will offer businesses a vital edge in the build-up to Black Friday and Christmas sales.
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