The growth of e-commerce during the covid-19 pandemic has pushed brands and retailers into developing their online presence. Therefore, there is a need to have a clear and detailed view on how your competitors are performing.
Have you ever wondered if you could automatically gather data from your competitors’ websites allowing you to increase sales? The good news is that there is a solution known as Digital Shelf Analytics that provides that. The bad news is that your competitors might be asking themselves the same question.
So, how can you stand out from the crowd by using Digital Shelf Analytics? Before answering this question, it is important to know what exactly this solution is.
Defining Digital Shelf Analytics
Digital Shelf Analytics is a software solution that constantly collects and analyzes digital shelf data from relevant online stores, including marketplaces like Amazon, and has nowadays become indispensable for every e-commerce business that needs to optimize performance on their website.
What is the Digital Shelf?
The digital shelf is the equivalent shelf of your physical store but in the digital world. In order for an e-commerce to sell their products successfully, there are four important factors to keep in mind:
1. Availability: One of your competitors has sold out one of your products? Or maybe you are the one with a product out-of-stock (OOS)? Having a product out-of-stock can mean the loss of potential customers and even the damage of your brand image. This issue can be an opportunity for your competitor, if you don’t keep track of your inventory.
2. Price: The buyer will compare prices and choose an online store that offers the best one, so you should make sure to be their first choice. By using a dynamic pricing tool, such as the one we offer at Netrivals, you can set the pricing rules you want and outperform your main competitors.
3. Content: Optimizing the content of your product pages is essential if you want buyers to add your products to their shopping card. Information about a product sold online, such as description, image or title as to be relevant and of good quality in order to avoid higher bouncing rates.
4. Positioning: If your website doesn’t rank high on SERPs, it is less likely for the buyer to choose your online store. Good positioning can lead to more visibility and consequently to more sales. Lengow’s partnerships with the leading online marketplaces make this possible by connecting its data feed with these marketplaces and social media in an easy and effective way.
How can your business stand out from the crowd?
Considering that your competitors are facing the same challenges as you makes it mandatory for you to incorporate the Digital Shelf Analytics into your business. With this solution you can automatize the entire process instead of doing it manually, saving you time and money. Additionally, it can also provide analytical accuracy, leading to better conversion rates and an overall better service to your customers.
Thanks to the acquisition of Netrivals by Lengow, the French e-commerce automation platform, you will now have a complete and unique service that you will not find anywhere else in the market.
What are the advantages of Digital Shelf Analytics?
1 – More visibility for your product catalog.
2 – You will be able to decide which channel is the right one for your products.
3 – You will get insights into your customers’ perceptions.
4 – The improvement of your brand image.