One of the biggest challenges for Consumer Packaged Goods (CPG) companies, is how to tap into impulse buying in an e-commerce environment. In traditional retail, this has been a key driver of CPG sales, and brands invest significant amounts into merchandising product placement, especially next to the cashier to grab on the way out.
Amazon’s Black Friday sales hit a record high of $2.4B across its three major sites in the US, UK and Germany. The US market dominated, as could be expected, hitting $1.8bn in sales; at peak hour, which was 1pm EST, there were 2m transactions taking place.
What if one of your competitors’ products was booming, and you didn’t even know about it? How about if some product is the hottest thing this season, and you don’t even stock it? What if you could gauge demand for any product and any category at any online store – and in real-time?
What are consumer journeys, and why is it important to understand them? To answer this question, let’s look at a typical consumer looking for a good digital camera on your website. You’ve run a great digital campaign, and the consumer has just found the camera they want on your site. Just before they complete the purchase however, they check Amazon, and compare the product details.
Increasing conversion rates is a powerful multiplier for your business. What are some of the factors that influence this key ratio? Critical elements here are setting a competitive price point, ensuring that you have the product in stock, having top-notch content, being on top of SEO- keywords, and bringing the right traffic, in volume, to your store.
Market Beyond gives you product-level insights that increase conversion and are actionable, which means you can reduce time-to-act from weeks and months, to just hours. Boost e-commerce team efficiency by optimizing marketing, content, pricing, promotions, and supply chain. Now you can put extra focus on your top revenue generating products, and let your business fly.