For eCommerce – Drive Decisions with Data

October 16, 2020

It’s that simple. When it comes to eCommerce, you need to let the data drive your decisions.

If you are looking to sell on either Amazon, eBay or Walmart, looking at sales data from competing products or in your overall category is a necessary first step.

Whether you are making decisions about product selection, pricing, consumer demand or other strategic questions, marketplace data from competing brands or other products within your category should be a compass to help guide your decisions.  Remarkably, many companies that sell online do so without utilizing relevant data.  According to researcher Maddy Osman, “..less than 0.5% of available data is being used to power business growth…”

Given the importance of competitive eCommerce data, it’s worth asking, what sort of data is out there?

Some companies like Jungle Scout are able to provide access to select Amazon data, but nothing for eBay or Walmart.  There are other companies that scrape Amazon, eBay & Walmart, but scraping can be expensive, time consuming and has its own limitations.

Ultimately, utilizing a dataset that includes average selling price & number of units sold provides the most accurate  actionable eCommerce sales data available.

As Anna Kayfitz, C.E.O. of StrategicDB Corporation has written, “Scaling an ecommerce business requires insights into the market, consumers, and products.”

Ciaran Bollard, CEO of Kooomo, points out that analyzing delivery locations of online sales can help offline retailers optimize and more efficiently allocate their brick & mortar operations.  Bollard says “Almost all interaction with an online business is now immediately recorded and measurable. Feeding this data to offline teams will help to create a seamless and successful omnichannel experience, as physical stores can still work as mini-marketing hubs by influencing the online trade in their local area. For example, retailers can use customer shipping data to geographically map online sales and unite their online and offline teams by measuring online customer value by proximity to their local stores.”

One type of data that is particularly useful is sales data for competing products.  Retailers with competitive sales data have a distinct advantage in planning new product roll-outs, product pricing and other sales and marketing decisions.

eComDataCentral is a company that provides sales data on hundreds of millions of products across Amazon, ebay and Walmart.  This is derived from a sample size of more than 65,000 ecommerce merchants and more than 500 million SKUs.

eComDataCentral offers both standard reports and custom research.

To learn more visit eComDataCentral.com