e-Commerce Market Intelligence Systems
TI Pro USE CASE: e-COMMERCE MARKET INTELLIGENCE SYSTEM (eCMIS)
Context: Food and Beverage (F&B) companies typically sell their products through general trade, modern trade, and e-Commerce platform channels. With changing consumer behavior, e-Commerce is the fastest growing channel for F&B companies. Hence, it is imperative for F&B companies to ensure that they focus and manage their sales made via e-Commerce platforms in the most efficient manner.
In many cases, e-Commerce platforms do not order and replenish their F&B stocks in a timely manner, resulting in lost sales for the F&B company. This comes with more serious consequences for the large-selling and popular products of the company. If the stockout information (at the pin-code level) is available to the F&B company, the company can proactively engage with the e-Commerce platforms for making the stock available at the specified pin codes and avoid stock outs.
Apart from stockouts, F&B companies lose business due to new entrants with attractive pricing, promotions and offers by competition. They also suffer when their products are not listed in the first page even though they are a leading brand.
F&B organizations are further affected when they do not have visibility to the customer ratings for their products relative to competition, and knowledge of new product introductions which can impact their business.
Capabilities: An eCMIS offering which combines web-scraping services along with the analytics capabilities of TI Pro helps F&B companies effectively address the above problems by providing market intelligence insights through reports, dashboards and alerts. This is done using data from web-scraping of stock, price, rating, new entrant data for specified competition, e-Commerce platforms, and cities at the pin-code level.
Features of the eCMIS offering:
Ability to monitor stock availability, price, customer rating for self and competitor, products at pin code level at specified frequency.
Automated insights and dashboards to determine no-stock regions, price comparison with competitors, rating comparison with competition, and so on.
These can be exported to MS Excel, shared with other stakeholders by mail, or pushed to other systems for further actioning.
Benefits: Companies gain the ability to address the issue of stockouts faster, thereby minimizing lost sales, and respond to competitor promotions, discounts and customer feedback in a timely manner. Over a period of time, the F&B company, through eCMIS, creates a solid data foundation for customer and competition behavior in the e-Commerce marketplace.