CPG e-Commerce Without Business Intelligence
We're more than a year now into a new era for CPG e-commerce.
For years, CPG e-commerce has lagged behind retail e-commerce. Consumers who ordered clothes, shoes, and gadgets online without a second thought still relied on the Target, Costco or grocery run for CPG staples like personal care and consumables. Why? Old habits die hard.
By: Ironbridge Software
In this new e-commerce era, these shifting patterns are making demand harder to predict, and they are creating new challenges while also opening new opportunities. Businesses need better insights to make better decisions, or they are going to lose out.
This is where Line Item is a game-changer. This performance analytics platform gives consumer packaged goods (CPG) and e-commerce marketing managers business intelligence on e-analytics and product attributes to drive revenue and profitability.
With Line Item, CPG brands can revolutionize their ability to respond to the market and gain valuable insights into changing demand patterns to unlock growth.
Without this kind of business intelligence, they risk being left out in the "new normal" of CPG e-commerce. Here's a closer look at the risks of CPG e-commerce without business intelligence.
Risk: Missing out on key trends
Yes, the way consumers shop has changed, but understanding this at the meta-level and the category level are two different things. It's essential to understand what trends are shaping the category for your brands and products—and this is almost impossible without business intelligence.
Line Item tracks hundreds of items in each product category, helping e-commerce managers monitor new products, brands, and competitors. Line Item also reveals which items are newly trending to enable new insights into the competition.
Risk: Missing out on buying behavior
Understanding how, when, and where consumers are buying is critical in a market-driven by demand fluctuations. Brands that can gain visibility into how product attributes, pricing, and promotions perform can understand how to adjust their strategy to maximize marketing activity and grow their online sales.
Built especially for CPG and e-commerce, Line Item makes this level of insight possible, providing deep e-analytics that reveal more about promotion strategy, third-party activity, and attribute-level data.
Risk: Missing out on sales
When demand can change daily, it can be difficult to balance inventory. Overstocking eats into the bottom line, but understocking does, too. No one wants to wait when they're ready to buy. When your product is out of stock, consumers will buy something else.
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