Digital Shelf Analytics

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

Leave a Comment / Blog, Digital Shelf Analytics / mFilterIt Experts

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?

Leave a Comment / Blog, Digital Shelf Analytics / mFilterIt Experts

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

Leave a Comment / Blog, Digital Shelf Analytics / mFilterIt Experts

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

Leave a Comment / Blog, Digital Shelf Analytics / mFilterIt Experts

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: Tap the Power of Keywords and Reach Your Ideal Audience

Blog, Digital Shelf Analytics / mFilterIt Experts

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: Are You Aware of Your Product Availability?

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

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 – Vision for the Future

Blog, Digital Shelf Analytics / mFilterIt Experts

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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