Retail
companies to attract customers within more distant locations which opens up an increasingly large audience for online businesses and the possibility to reach a global audience. Brands can leverage social media advertising, email marketing, and SEO to connect with a massive online target audience that is in a ready-to-buy mode. Te shiſt to online shopping revealed the need to get to know the
growing number of customers better and faster. Competitiveness will only continue to grow, forcing companies to collect as much information as possible. Oſten it is understood that more data means a stronger business.
Big data – the driver of ecommerce competition A decade ago, the landscape of online retailers was populated with over half a million online stores. But now, that limited selection has exploded into an ocean of new players – there are approximately between 12 and 24 million ecommerce sites in the world. With the rise of accessible analytics tools and data-driven
marketing strategies, ecommerce companies now have the advantage of tracking customer behavior more accurately. As a result, they are better able to tailor their services and products to meet customers’ exact needs and outplay their competitors in the process. In the ecommerce world, big data is driving competition in
a number of ways. By understanding customer behavior and preferences, retailers can better target their marketing efforts and personalize the shopping experience to increase conversion rates. In addition, those with access to large amounts of data can utilize advanced analytics to identify patterns and trends that can give them a competitive edge. Data is also changing the landscape of pricing in ecommerce.
Tanks to real-time data, retailers can track competitor prices and adjust their own on the fly to stay competitive. In addition, dynamic pricing algorithms that take into account a variety of factors (including competition) are becoming more common, further eroding traditional price barriers. Finally, big data enables new business models that were not
possible before. For example, subscription-based models are gaining popularity as they allow retailers to better predict customer needs and automatically send products on a regular basis. Such models would not be possible without access to detailed customer data. All of these factors make it clear that those who embrace big
data have a distinct advantage in the ecommerce space. Tose who fail to do so will likely find themselves struggling to keep up with the competition.
Getting to big data with web scraping Every day, approximately 2.5 quintillion bytes of information is generated and this number is only expected to grow. Tis deluge of data can be overwhelming for businesses, but it also presents a unique opportunity. Tose who are able to harness this data and use it to their advantage will be well-positioned to succeed in the ecommerce competition. One way to get ahead is by using web scraping to collect data on competitors. Tis abundance of data, however, presents a challenge for
businesses: how to make sense of it all and turn it into an advantage. To do so, companies can create a map of their competitor’s ecosystems. Tis involves not only identifying direct competitors but
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also analyzing their relationships with other players in the market. Web scraping allows companies to quickly gather competitors’
assortments, observe what new products are appearing and disappearing, monitor price changes, and from that observe their competitor’s strategy and learn. All this information can then be used to create a map of the competitive landscape, which can be valuable for a variety of purposes, such as: • Market trends analysis. Including the introduction of new products and technologies, changes in market conditions, and shiſts in customer preferences. By staying abreast of these changes, businesses can adjust their strategies to stay competitive and take advantage of new opportunities.
• Competitive intelligence. Competitive ecosystem map can help a company to stay informed about its direct competitors, suppliers, as well as any other companies that might be vying for their customers’ attention.
• Strategic planning. A competitor ecosystem map allows businesses to visualize the competitive landscape and better understand their competitors. Tis involves not only identifying direct competitors, but also analyzing the relationships between competitors and other market players, such as suppliers, distributors, and customers. Tis can help businesses identify potential new partners, suppliers, and customers, as well as potential new threats.
By having a comprehensive understanding of the competitive
landscape, companies can develop strategies to expand their market share. It might enable companies to start exploring new markets or customer segments where they hold a competitive edge or ramping up marketing efforts to reach and engage potential customers. It is crucial to keep a finger on the pulse in order to remain ahead of the competition. Ecommerce companies can no longer afford to operate without
web scraping and big data. Tese tools are essential for staying competitive in today’s digital marketplace and for making data- driven decisions that will drive growth and profitability. Competition relies heavily on the availability and utilization
of information. A superior understanding of the information gives a permanent and comprehensive edge to a player. When one participant gains this advantage, the others must also adopt it to remain competitive. Otherwise, they will eventually be at a disadvantage in the long term.
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