eCommerce NOW: Finding a Faster Path to Hit Growth Targets
In a new episode of eCommerce NOW, we look at how web scraping and analytics are transforming the ecommerce sector, predict growth for lux goods in the GCC market, and see how Alibaba.com is empowering SMBs to "Sell to the World."
In today's hyper competitive landscape it is crucial to look beyond visit volumes and traffic data to find platforms that truly work best in bridging the gap between customers and etailers.
Interestingly, our friends over at Quantzig believe many companies can benefit from web scraping and analytics. In fact, they highlighted how to leverage these technologies that could impact customer preferences and retention.
• Understand customers using web scraping and analytics
• Track and monitor real-time content consumption patterns
• Monetize customer data and drive value across interaction points
Check out "eCommerce NOW" on YouTube (https://youtu.be/
In other news, the luxury market of the Gulf Cooperation Council (GCC) made up of Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman is currently being catalysed by rising economic growth. This is due to a large young population, strong growth of the tourism sector, and an increasing penetration of ecommerce and social media.
The GCC luxury market was is expected to reach sales worth more than $54 Billion by 2024.
The growth drivers are rising affluence levels, increased spending on luxury products and strong population growth over the last five years resulting in a large young population, say experts.
"The online market continues to drive the sales of luxury products as boundaries blur with the more traditional distribution channels," says R&M. "Social media platforms such as Youtube, Facebook, Instagram, Whatsapp and others are also influencing consumers, particularly the younger generation."
Meanwhile, Alibaba.com opened its platform to empower U.S. businesses to sell their products to millions of buyers in the U.S. and around the globe.
Now, the nearly 30 million Small and Medium-sized Businesses (SMBs) in the U.S.– especially manufacturers, wholesalers and distributors – can better access the $23.9 trillion global B2B ecommerce market, an opportunity that is six times larger than the global B2C ecommerce market.
"Alibaba aims to empower entrepreneurs and help them succeed on their own terms," said John Caplan, Head of North America B2B at Alibaba Group. "With 10 million active business buyers in over 190 countries and regions, we are reshaping B2B commerce by providing the tools and services needed for U.S. SMB companies to compete and succeed in today's global marketplace."
"eCommerce NOW" is produced by TVP in NYC and sponsored by AiTarget, constructors of engagement tools powered by Artificial Intelligence