Businesses are quickly embracing online and non-traditional platforms to digitize their commerce. Thereby incorporating the potential of digital technologies to expand their reach. Digital commerce is e-commerce; it is a relevant element for all brands that aim for extended market reach, increased sales, and efficiency in customer engagement. This blog explores the basics of digital commerce and the importance of digital shelf analytics in ensuring one’s success online.
What are Digital Shelf Analytics and Why are They Important?
Digital shelf analytics (DSA) is the process of tracking, monitoring, and analyzing the availability. And sale of products on any e-commerce platform and various digital channels. Brands use this tool to “see” that their products are visible, properly positioned, and have adequate rich content least in terms of images, descriptions, reviews, and pricing.
This is because, in a competitive online environment, brands must ensure their products are easy to find and appealing to consumers. Through digital shelf analytics, businesses will be able to track stock, pricing, and product placement to meet consumer demand while getting ahead of competitors. DSA also helps identify gaps within the customer experience, such as an incorrect description or poor-quality images resulting in missed sales.
What Should Important Components Include?
Discoverability Analysis
Discoverability is all about share of shelf or search. The brand must track Share of Shelf across the competition in the category across a wide range of e-commerce platforms (both apps & web) and locations.
- Improve brand discoverability through keyword
- Track and measure digital share of shelf performance
- Slice and dice through various platforms, cities, product categories, etc.
- It helps the brand identify suitable keywords and follow through
Pricing Analysis
Identify and track the pricing and discounting patterns across e-commerce platforms on your brands versus competition. Get real-time industry-dedicated market insights to construct better pricing & discount strategies to improve revenue.
- Real-time industry ASPs & discounts vis-a-vis your brand
- Category averages with the present Brand price & discount metrics and trends.
- It identifies the highest and lowest ASPs & Discounts based on the platform, city, and category
- It also detects MAP violations and pricing violations done by the platforms using OEM codes
Availability Analysis
The Availability tool helps the Brand understand availability trends across the platforms. Competition analysis enriches insights into geographies targeted to increase reach and capture new customers.
- Trace of Availability by Platform, Location & Subcategory of own brand vis-à-vis competition,
- Insight based on availability into potential geographies to target customers,
- OOS Status across products, regions, and platforms.
- Trend Analysis of Availability combined with continuing OOS Products.
Customer Feedback Analysis
The Customer feedback tool helps find out what customers think about the brand via review rating and Q&A. It also provides in-depth keyword analysis with relevant Amazon Pi integration. And sentiment analysis to divulge exactly what the brand needs to work on.
- Monitor Rating & Reviews
- Customer Feedback Trend Analysis
- Product sentiment tracking across categories, sub-categories, product variants, brands, and sub-brands vis-à-vis competition
Choosing the Best E-commerce Analytics Tools
User-Friendly GUI with Actionable Insights
Dashboards of mFilterIt are super intuitive and user-friendly graphical user interface. This makes it easier to navigate and access relevant data without needing technical help. The simplicity of this aspect is the driving force for the improvement of decision-making because the platform contains clear, actionable insights that enable one to quickly resolve such issues, optimize strategies, or push for better results.
Superior Crawling Capabilities
Unlike many competitors who focus solely on web-based crawling, we have advanced crawling technology to scan both websites and mobile apps, making it scan more highly comprehensive data. In this way, the platform can identify fraud potential or optimization opportunities across a far broader range of digital assets.
Agility through the SaaS Model
Our SaaS model provides high adaptability along with scalability, to ensure the platform seamlessly integrates more than 150+ e-commerce platforms. This cloud-based model further gives users a piece of flexibility in deploying the tool, which would very easily get integrated into an existing tech stack that does not necessarily require complex installations.
Automated & Customizable Reports & Alerts
The reports and alerts generated are regular automated ones, hence giving the user timely information concerning performance metrics as well as fraud cases detected through other key analytics. The reports can all be customized to fit any business or company’s specific needs and priorities.
Hybrid Model: Managed and Self-Serve
We can manage both managed services and self-serve models, allowing businesses to interact with the platform in whichever way fits their needs. This hybrid approach ensures that capabilities are not confined to something where users can only operate in the best way that suits their internal processes and resources.
Conclusion
Business organizations must leverage analytics insights to be on par. Digital commerce intelligence, particularly that related to DSA tools, is an important asset because it helps keep brands both front and center in the online marketplace yet customer-centric.
Businesses can achieve the kind of competitive lead that is only possible with superior crawling capabilities, coupled with an extremely intuitive interface and truly real-time, actionable insights, through advanced digital commerce analytical tools. Our tool is incredibly valuable for any e-commerce brand looking for growth and optimization within its business, leveraging a flexible SaaS model and managed and self-serve options.
