Do you know when the e-commerce industry will start expanding? You can't expect it to expand by 2023. Despite the slow growth, the leading statistics for the industry in 2023 are optimistic for product sales. As per the reports by Insider Intelligence, the sales of online products will reach a market cap of 6.3 trillion USD, with a rise of 10.5 percent at the end of 2023. And you can expect the market cap to touch 8+ trillion USD in the next three years.
Considering the extensive competitive nature of the industry, you need to utilize all the resources and fulfill customer expectations to survive and stay ahead in the competition. Data from various e-commerce platforms will help you reach there.
E-commerce businesses mostly rely on various data and digital technologies to make value-driven decisions. In this blog, we will learn about the critical stages of e-commerce businesses and how web scraping will help grow the business quickly.
The Important Stages to Run an E-commerce Business
Typically, to run an e-commerce company, there are three essential stages: optimization and growth, planning and launching, and business expansion. All these stages have different goals.
A small idea is enough to start a great online business, but it should promise success. Most businesses start by gauging the primary step of the idea and executing it with proper practical strategy and development. It is the primary task while planning and launching the business. Exploring the market will get you value-added information that you can use to take commercial action for the business.
Though the online product-selling marketplace constantly expands, only 1 of 10 businesses succeed, and most of the remaining e-commerce businesses fail within the first four months after the launch. Hence, there is significantly less time to take breaks after the launch on the initial days. You must concentrate more on daily business operations to ensure more buyers purchase your products.
Yet, there is a chance to experience the vibe of slow growth. To mitigate this challenge, you need to take some actions on priority, like product improvement, customer base expansion, and marketing strategy development.
If a brand can maintain its shape and earn profit in the second stage, it can expand the business. The brand should have worked on building a solid customer base, product database, profitable business model, and competitor information before expanding the business. You can collect this data using our e-commerce data scraping services. The database you will collect will work as a road map to grow the brand, launch new products and penetrate the new market.
In any phase of the business, the data plays a vital role in business optimization, problem-solving, and decision-making. However, filtering the necessary data manually from several online platforms could be more practical. Our e-commerce web scraping services will help you resolve this problem with customized data scraping.
Now, let's explore a few samples of general cases for data scraping and application in all the phases of the e-commerce business and our role in boosting your business.
Plan and Discover the Demanding Product to Attract More Customers
Planning and launching is the primary step in any e-commerce business. Everybody knows that it is challenging to grow any business from zero. Though you've willpower, and a business idea to sell products on e-commerce platforms, it still takes time. What can help you succeed in your business depends on market demand, customer choices, commercial partners, and sales channels.
Find the Right Product and Don't Hide It From Customers
You will succeed if you spend enough time researching products and validating ideas according to market demand and customer sentiments. Discovering the correct goods and targeting the suitable customer base will allow you to double your achievement with less effort.
It is impossible to understand customer behavior due to its complexity. Sometimes, you will observe and conduct polls and surveys to know customer opinions, but you will not get the expected results. Data can make your life easy by giving insights into customer reviews, ratings, product sales, search keywords, and more. Precisely, raw data helps good market research, the study of market demand, user persona, etc.
Now, you can access all the data from various platforms using our e-commerce data extraction services, where we quickly gather large amounts of data according to your custom requirements. Once you get the data, you can study the customer sentiments and find the demanding product to sell and succeed in achieving goals.
Find and Partner with Perfect Brands To Reach More Customers
It is only possible to successfully grow and maintain the business with suitable partners. Even though you need less workforce to operate your online stores, you still need the help of delivery services and product suppliers so that you can manage product assortment and deliver products to your customers on time.
Searching and partnering with suitable suppliers and delivery service providers is essential in the first stage of the business. Partnering with service providers dramatically improves the company's growth plan and daily business operations. Exploring the official websites of manufacturers helps you know whether it is worth working with the specific business.
For instance, Amazon shows much data about suppliers on the platform. You can scrape Amazon product data to know about wholesalers, locations, suppliers, manufacturers, etc. Using the scraped data; you can get quick cooperation to collaborate with various partners.
You can learn about express delivery services by gathering delivery information from relevant platforms. E-commerce stores generally show delivery charges, timelines, and the source location of products. Use it as a reference and decide on the right delivery partner.
Decide the Best Channels to Sell Your Products
If you choose the right platform to sell products, you will get the correct audience to buy products. It will reduce your efforts for marketing and increase sales and profitability.
Firstly check your target customers and the USP of your products, perform market research, and then check the availability of the proper sales channels like social media and other online shopping platforms available on the internet.
In this procedure, using the data is vital. You can gather data from several websites and evaluate which product and category fits your online business.
Boost Your Product Sales in the Optimization and Growth Stage
As mentioned, only 1 out of 10 online startups succeed. Congratulations if you are among those 10 percent. You may have a supporting partner, loyal customers, and the proper sales channels. It will help you to grow the business at a constant pace and increase profitability.
Inventory Management
Managing product inventory is a vital task in business operations. If you can meet customer demand and deliver them products on time, you'll increase consumer loyalty and satisfaction. It will also help you reduce storage costs by avoiding over-stocking.
For inventory management, you can use data like average order value, sales volume, stock quantities, revenue, and more to predict market demand and manage product assortment accordingly. Platform listings and sales data for your products will give you some data, but it is dynamic. You can use our web scraping services to collect new data and monitor all the required data. After studying the extracted data, you can understand how to effectively maintain the product stock and inventory levels.
Optimize User Experience
Customer satisfaction directly depends on user experience that helps businesses to succeed. A good user experience can increase sales, retain customers, and increase brand reputation. Several methods exist to optimize UX, but your actions don't matter.
Data for customer feedback help is a great way to understand customers. It will help you to improve your product and the user experience if any customer shares a negative review. You can use data scraping tools or services that collect customer reviews, ratings, and more about products to get the data.
Additionally, you can monitor sales data to find shifts in customer sentiments, like profitable pages, trending products, and successful promotional campaigns. Lastly, track social media platforms to learn what customers say about your products and services.
Increase the Visibility of Your Product
The internet has complete information about any product. It helps e-commerce sellers increase their products' visibility to reach more audiences.
Typical methods to improve the brand's visibility include improving product titles and descriptions and optimizing targeted keywords. It will help you reach a more relevant audience, increase sales volume, and generate more revenue.
Data has a substantial role to play here, also. You can extract search keywords and results from various search engines like Google and Bing to study market demand and use relevant keywords to increase the traffic on your website. You can also gather product titles and descriptions to know attractive words that sellers use to grab customer user attention.
Competitor Monitoring to Win the Market
There is enormous competition in the e-commerce industry. Beating competitors needs studying their pricing strategies, business plans, products, and more in every business. Data is crucial for monitoring competitors, like competitor price monitoring, studying their contents, tracking performance, and mainly finding competitors. It lets you find competitors' strengths and weaknesses, optimize your strategies, and maintain your position in the targeted market.
To discover competitors for e-commerce businesses, you can use our e-commerce data collection Services to gather data for their prices, product offerings, company insights, product reviews, ratings, sales figures, and more. Collecting the relevant data, analyzing it, and implementing necessary strategies will help you improve and beat the competition.
Your competitor can teach you to optimize content marketing using their content strategy, marketing campaigns, social media campaigns, advertising, and more. You can understand how they engage with their audiences and improve your content and marketing campaigns.
You can apply our data scraping services for the following use cases in this stage:
- Launch competitor tracking and learn about their activities.
- Use web scraping to perform market research.
- Track differences between the prices of competitors and your products.
- Track consumer behavior by collecting product reviews and ratings.
Scale Your Business to the Next Level
Your business will enter the next stage once you build a successful business plan and solid customer base. The stage is all about business expansion to increase revenue generation. It describes significant efforts to increase the range of existing products, customer base, and market reach.
Use Winning Strategy and Launch New Products
Remember that the business development phase of launching new goods is intricate and requires careful implementation and preperation. Expanding the product line by introducing new products for growing buyer requirements is our central aspect for this stage. Here, it would help if you considered the significance of the data.
You need data for market research in the business expansion phase, similar to planning and launching. Studying profits, sales, and customer feedback on your offers is necessary. For this, you must collect customer review data and study the behavior of the public on how they treat your products. Additionally, it would help if you had bestseller monitoring, competitor feedback, sales data, and the latest trends data for market research.
You will create a value-driven strategy to expand your product line using the collected data. After diversifying the products, you can reduce the risk of dependence on a single product and increase revenue.
Enter into New Marketplaces
When you plan for new growth opportunities, you can enter into New Marketplaces. Because it will allow you to increase visibility, reduce reliability on only one product, and expand the customer base.
Attracting customers to buy products after breaking into the new market is challenging. Here, a map with a data-packed plan is mandatory. You want web scraping services to collect enough data to execute the plan before deciding. Competitor tracking using data scraping helps you to find gaps in the market and take the benefit in specific markets. You can also understand demographics and customer choices using web scraping.
Optimize Business Plan with Smart Aims
Every business phase needs a business strategy. Price monitoring, competitor tracking, market research, and customer sentiment tracking using web scraping services are mandatory, but you should concentrate more on maintaining your brand's reputation. It would help if you had a more insightful, detailed, and data-packed plan for business expansion.
Hence, you can use our e-commerce scraping services to take advantage of customer sentiment and mention monitoring, automate tasks for reputation management, and more. Later, you can improve your business, meet customer demands effectively, and set your business for sustainability and long-term growth.
Conclusion
We have shared how to use web scraping to grow an online e-commerce business. Typically there are three stages: planning, business development, and business launching. Contact our team at Product Data Scrape for customized e-commerce data scraping services for all stages.
