Brands looking for a strategic advantage this holiday season, specifically on the world’s largest online retailer Amazon, now have a new Profitero tool that delivers insight into category share and how to gain or sustain it: Amazon Market Share Estimation.
During this year’s highly competitive holiday shopping season, Amazon Market Share Estimation will enable brands to make strategic adjustments in order to drive their e-commerce sales. Profitero does this by uniquely combining digital shelf data it actively monitors – what shoppers see and experience as they shop – with actual Amazon sales data.
E-commerce managers, Amazon brand managers, and sales and marketing executives, will all now know the answers to such critical questions as: What is the total size of my category on Amazon and how does this compare to my competitors? How fast are my categories growing over time? Am I growing my share in these categories and by how much?;What are third party marketplace sales for my products?
“Amazon’s growth has outpaced e-cmmerce by 1-2x, giving it a dominant lead in many of the world’s most mature e-commerce markets. As the percentage of eCommerce sales grows exponentially, brands can no longer guess at their market share and growth within a category on Amazon – they need actionable data,” said Vol Pigrukh, Profitero CEO and co-founder. “This holiday season will likely set another record for online sales, driven by Amazon, and it will also be a tipping point where data and analytics aren’t just used for pre- and post-season benchmarks but for active decision-making.”
“Knowing where we stand on Amazon versus others in our category is critical to attaining a competitive advantage,” said Garrett Bluhm, head of e-commerce for Hyland’s. “Having a direct line of sight into how pricing, promotions and other variables affect share enables us to be much more opportunistic and responsive, and this translates into better performance.”
By estimating the total size and growth of a category, Profitero said it ensures that consumer brands are equipped with the essential insights to not only know their own sales, but also their estimated and predicted share of a category versus competitors for each product. Brands can track how their share changes over time and what may be causing it. They can monitor what shoppers see and buy online and turn that information into insights and strategic recommendations that pinpoint how to improve their daily performance.