What is retail intelligence in e-commerce business development
Contents of article:
- Retail intelligence explained
- What data to collect for retail intelligence with proxies?
- Why work with Dexodata for retail intelligence?
Retail intelligence in e-commerce means using data to optimize operations. It involves automatic gathering, assessing, interpreting information from various internet sources for decision-making purposes. Such analytical activities make customers contact proxy sites to obtain geo targeted proxies. Since Dexodata’s ecosystem is the # 1 choice for many, our team has a lot to share.
E-commerce transforms retail as we know it. Step by step, people are spending more on goods online. The niche is expanding across all directions:
- Back in 2022, global e-commerce sales exceeded $5.7 trillion (not billion), accounting for 20% of all retail sales. Around 2026, corresponding figures are expected to be over $8 trillion and 24%;
- Concerning data available for exploration, volumes are enormous. There exist 32.7 million e-commerce stores all over the world. Each produces data;
- Not only data generated by e-shops matters. Buyers leave digital trails, e.g. reviews, which are an important factor, too. 89% of consumers "scan" others’ public feedback before purchases.
Functioning in such a landscape without automation is impossible. One could never accumulate enough datasets with no workable high-performing digital assistants, involved to harvest e-commerce data. Those bots mandate dynamic geo targeted proxies by default. So, research agencies and individual internet-based retailers opt to IPs in quest for details to scrutinize.
E-commerce success stories imply offering optimal prices, being logistically cost-effective, working in appealing personalized ways, retaining business flexibility, exercising full control over warehouses, etc.
E-commerce data sources involved
One can divide retail intelligence priorities into these dimensions:
- Inventory management with scrapers and proxies. Web retailers apply intelligence while tracking inventory levels, predicting demand, improving replenishment practices. This reduces overstock, saving costs.
- Tackling over-and-understocking issues diminishes expenditures by a lucrative 10%, on average. Retail intelligence serves as a positive constituent here.
- Price-balancing based on scrapers with proxies. Retailers use data to set competitive prices that maximize profits while remaining attractive regarding end-buyers. Dynamic pricing strategies play a major part in retail intelligence contexts:
- Some recent figures show that for 60% of web shoppers prices serve as key drivers to purchase stuff. Retail intelligence is helpful in this respect.
- Supply chain management adjustments fueled by scrapers with proxies. Retail intelligence helps identify bottlenecks, tune transportation flows, keep applicable expenditures low:
- Take a look at this slightly surprising figure. Per G2, 83% of entities admit that supply chain upgrades have productive impacts not only on purely business-related practices, but also on eventual end-customer experiences.
- Personalized UX empowered by scrapers with proxies. Understanding customer behaviors, preferences, demographics is a crucial aspect of retail intelligence. Stores collect data through loyalty programs, online purchases, in-app interactions, creating better customer experiences and launching targeted marketing campaigns. Policies of this sort have important implications, since 71% of e-shoppers expect brands to grasp unique requirements:
- Approximately 49% of consumers indicated their inclination to become repeat customers when presented with a personalized retail brand experience;
- 54% of marketers confirm that heightened personalization initiatives nurture enhanced brand engagement. Retail intelligence is the key, again.
- Loss prevention is another reason behind using scrapers and proxies. Retailers apply advanced intelligence when detecting and preventing theft, fraud, other forms of foul play. Think about three figures involving retail intelligence questions:
- E-commerce players suffer annual losses of approximately $48 billion due to fraud.
- Each fraudulent order worth $100 incurs a corresponding $207 in losses.
- On average, e-commerce companies employ 5 fraud detection tools (some will surely need while fulfilling their missions).
Dexodata offers to buy residential IPs for e-commerce data harvesting across those 5 fields on inventory, prices, logistics, UX, and corporate security. Without them, no goals can be achieved in retail intelligence, which is becoming smarter, more independent every year. As the recent AI in Retail Survey proves, almost 50% of retail professionals hope for AI, ML, CV as top managerial technologies. All those solutions require data. Give it with Dexodata’s geo targeted proxies. Undertake retail intelligence efforts from 100+ virtual locations, encompassing major EU countries, America, Great Britain, Chile, Turkey, Russia, Belarus, Ukraine, and more. All public data is within your reach.
During work sessions, users can be sure they are activating whitelisted, thoroughly checked, ethically-sourced IP addresses. Geo targeted proxies join Dexodata's pool on an informed consent basis. Strict KYC/AML policies apply, the network is constantly monitored, including AI and ML techniques.
Paid proxy free trial is available for new customers. Test, combine, study, skyrocket!