Increase Amazon e-commerce data monitoring and reporting rate for deeper, more timely insights.
A data-driven culture is critical for product manufactures to thrive in today’s e-commerce led retail environment. New standards in research and e-commerce analytics enable brands to identify gaps, prioritize actions, and execute in the online channel, turning data, insights, and content into sustainable online channel sales growth.
The need for reliable data is most apparent when it comes to managing your brand’s presence and performance on, Amazon, the world’s most influential e-commerce retail site. As a start, Amazon provides some basic tools and data, to help brands manage products, landing pages, and advertising, including Vendor Central, Seller Central, Amazon Advertising, Chime and FTP.
However, these tools are just a part of what’s needed to succeed. In addition, brands seek out a broader set of tools and insights, rather than only depending on Amazon’s Retail Analytics (ARA) data. This means looking to the tried and trusted e-Commerce Perfect Store playbook, with its emphasis on measuring, and as a consequence improving, metrics for Content, Availability, Price & Promotions, Ratings & Reviews and Search. With Amazon brands also need to consider tracking data on BuyBox ownership, and product profitability.
Timely Amazon Analytics
Given the importance of Amazon as a retail platform, and the frequency with which prices and product listings change on the site, brands should also consider increasing the frequency with which they measure and report these metrics. The usual daily measurement may not be enough. Fundamentals such as Price, Promotions, Availability, and who is winning the BuyBox can fluctuate significantly over the course of a single day.
The speed of e-commerce means catching an availability problem early, or identifying when and why a third party seller beats you to the BuyBox, today rather than tomorrow, can make a world of difference.
In the past, you may have considered increasing monitoring frequency of some core metrics, to get intra-day insight updates during seasonal shopping events such as Prime Day, Black Friday/Cyber Monday and over the holiday season. But as your Amazon program matures and grows in sophistication, and your team gets to grip with closing gaps identified on the platform it’s time to increase monitoring and reporting frequency permanently.
The timeliness and frequency of insights will enable your account teams to prioritize remedial actions, discover high demand items, and manage Amazon stock levels appropriately.
Read about what else brands need to do to succeed on Amazon: download the eBook, How to Succeed on Amazon.