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Category: E-commerce

DATA ANALYTICS A powerful tool for e-Commerce

In the fast-growing and developing e-Commerce ecosystem, the competition is also multi-folding. It is very easy for sellers/brands to lose their grip on the market. To maintain sustainability in e-Commerce, it is crucial for the brand to study its customer behavior, track its competitors, and make data-driven decisions. 

Data is fundamental to e-Commerce as are its products. It helps brands to discover information on customer acquisition, user experience, potential competitors, and much more.  Brands selling on multiple platforms with vast product portfolios cannot manage and track metrics manually and that’s why a data analytical tool is required.

Understanding the nature of the e-Commerce marketplaces and the needs of the sellers, Love in Store brings in one such proficient data analytical tool “LIS Spider”.

Introduction to LIS Spider

The e-Commerce industry is a vast pool of opportunities and growth. But to swim in this pool, brands/sellers have to be on their toes and keep up with the latest trends. LIS Spider is a best-in-class analytical tool that helps the brand with the analysis of metrics based on stock status, price variations, advertising, promotions, reviews behavior, sales, etc.

It not only provides your metrics but also your potential competition for more accurate data-backed decisions. LIS Spider is a display of all the data in one place which helps the brand save funds and not spend its money and efforts on buying and handling multiple software subscriptions at once. 

To understand changes in customer behavior regarding price, promotions, and products more effectively and make more informed decisions, our tool keeps records of past data as well. LIS Spider helps brands/sellers to keep track of their growth and know what works best and worst for them in the market of e-commerce. 

Platforms LIS Spider works on

To be among the top sellers and be relevant in the ever-changing dimension of e-Commerce, it is essential for the brands to be functional on multiple platforms and introduce new SKUs from time to time. 

Without proper metrics from all the platforms to analyze and rely on while growing on multiple marketplaces, brands tend to lose their direction and face a downfall. 

With the understanding of this scenario, LIS Spider is an analytical tool that tracks, store, and analyze data across multiple e-Commerce platforms, and sellers without any geographic boundaries. Sellers can track as many SKUs as they require with no limit on reports and their frequency. 

Brands

To get a better and broader picture of their products on online marketplaces, brands can also track and analyze competitors’ SKUs on multiple platforms. With all the metrics in hand, sellers will have a better understanding of the online marketplaces and can take data-driven decisions to improve their conversion rates.

Insights Through LIS Spider   

On-Shelf Availability

A brand will have to bear huge losses if any of the best-selling products go out of stock for a long. With the help of  LIS Spider, we can keep track of the availability of stocks regularly and notify the seller when the product goes out of stock to refill it at the earliest.

Pricing & Discount Report

LIS Spider crawls the metrics of the seller/brand and its competitors to maintain data and analyze the prices of the same or similar products to take well-informed steps as and when required.

Sentiment Analysis

Through LIS Spider, brands can assess the data about consumers’ ratings and reviews of themselves and their potential competitors to identify the scope of improvement and make data-based decisions.

Keyword Analysis

It is imperative for the brand to know its position in online marketplaces. To get a better picture of its position, LIS Spider helps the brand scrap the reports based on keywords. A brand can know its rank on online marketplaces among its competitors based on the individual keyword search. These reports help the brands/sellers to understand their stand in the e-Commerce ecosystem and form analytic-based strategies. 

Buy Box 

On most of the product pages, we see a small box on the right with the name of the sellers that sell the same or similar products. That small box holds an important role in promoting business for the brand and is known as Buy Box. Buy Box visibility work on two basis- price and delivery charges. To get the buy box and increase sales, some unauthorized sellers lower the selling price than MOP, affecting the brand's sales immensely. With the help of LIS Spider, brands can track data on the buy box space and get knowledge about any unauthorized sellers. According to the analytics by LIS Spider, brands can plan their pricing strategy competitively and get available on the buy box to construct the business on heights.

Price Violation

Brands often keep a limit on the discounts any seller or platform could sell the products on but to increase the sale, some sellers or platforms sell the products at a lower price than MOP which affects the sale of the brand and also questions their image. LIS Spider keeps a regular track and creates reports of potential sellers and platforms to be aware of price violations. This data-driven insight helps the brand to maintain its authenticity in the online market and improve sales. 

LIS Spider

Why is LIS Crawler better, you ask?

Customization

Unlike other crawlers, LIS Spider prioritizes the client’s requirements and focuses on easing out the e-commerce journey of the client. Professionals in our business team review the data scrapped by the LIS Spider and share only customized reports based on relevance for the client for better understanding. 

Output

For a better understanding and need of the brand, LIS Spider can provide reports in more than one format. Other than excel, LIS Spider also provides the output in formats like Tableau, QlikQ, and Power BI.

Frequency

At LIS, we do not have a set frequency of scrapping data and analytics. Contrary to other crawlers, LIS Spider sets the frequency of providing the metrics reports as per the requirements of the brand. 

Maintenance of the Data

To study the growth and analyze what works best for the brand, LIS Spider maintains the records from the first day of onboarding. Maintaining data from the start assists the brand in taking quality decisions for growth.

Data

LIS Spider is known for its accuracy and consistency. It has been helping brands reach their desired goals. If you are a well-established brand or a newbie struggling to match the steps in the e-Commerce industry, reach out to us @1800-257-7750 or info@loveinstore.com.  and we promise you a worthy journey toward success. 

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