Monday, February 9, 2015

Ecommerce players should use predictive analytics to stay ahead of competition!


The writing is on the wall! Two segments--Ecommerce and Mobile commerce-- are not just gaining traction but Indian consumer today is comfortable shopping online via smart phones and tablets. Recent success of limited period sale on ecommerce platforms such as flipkart, myntra, and amazon clearly endorse this view.

Whats more, today (Tuesday, Feb.10) topline smartphone brands such as chinese handset OnePlus One smartphone and Xiaomi's Mi4 are exclusively available on Amazon and Flipkart respectively. Most Ecommerce platforms are using such exclusive deals to grab stickiness and increase marketshare but that is not enough.

Ecommerce marketplace has become a fierce battleground wherein everyday new players are emerging with exclusive products catalogue. To combat competition, players will have to create a differentiator or die a slow death as all players are vying for customers who are part of the same cluster pool. Hence knowing the next customer or predicting the shopping behaviour of existing customers could serve as a key differentiator which ecommerce players can use to push targeted products at predefined time frame.

So for all those ecommerce companies, if you wish to be ahead of competition better know who your next customer is!