External and internal analytics of marketplaces
Posted: Sun Dec 22, 2024 8:35 am
Success on marketplaces directly depends on the seller's ability to analyze huge amounts of data. Marketplace analytics allows not only to track your own indicators, but also to deeply study the market, competitors, and buyer behavior. Dividing analytics into internal and external helps sellers get a complete picture and make informed decisions.
Analysis of the external environment
External marketplace analytics is a study of competitors email lists uk and the market based on data collected from various open sources, platforms, and automated services. Such analysis plays a key role for sellers who are just starting to work on the marketplace. It allows you to correctly determine the product category, if there is none, understand which niche is easier to gain a foothold in, detect a shortage of goods on the market or an excess in certain segments.
Analysis of the external environment
Source: shutterstock.com
Information collected by external analysts includes the following:
the popularity of various niches and the number of active competitors;
financial turnover of competing brands in selected niches;
price segments and sales leaders;
sales volumes of specific products;
categories with the highest and lowest activity;
the most dynamically developing categories;
the best products for the season.
These and other data, summarizing sales statistics and price fluctuations for certain goods, are available to anyone who wants them. But to obtain them, you need skill in collecting and analyzing large amounts of information.
Tracking data on hundreds of cards on different platforms on your own is almost impossible due to their constant updating. Although certain information can be obtained in the seller’s personal account on the marketplace, analytical services offer much more detailed information.
Thanks to automation, such services are able to process thousands of cards on different platforms in a matter of minutes and provide a full understanding of the market situation.
Analysis of the internal environment
Internal marketplace analytics provide a comprehensive set of tools that allow sellers to collect information about their products and evaluate sales performance in detail. These tools support the process of identifying both the most profitable and unprofitable products, and also help in planning purchases and logistics. The information is available only to the sellers themselves and is not visible to other users.
The main goal of internal analysis is a deep study of product characteristics and competitive environment, analysis of own sales and cost optimization.
All key internal research data, including information on products, sales volumes, total revenue and logistics operations, are provided in the seller's personal account on the platform and come directly from the marketplace.
Analysis of the internal environment
Source: shutterstock.com
The main tasks of internal analysis include:
increase in sales volumes and reduction of costs;
reduction of costs for paid storage;
inventory optimization;
reduction of time costs.
One of the significant advantages of such tools is the ability to organize unrelated information. The resulting data, presented in the form of graphs, reports and charts, helps improve business management, which allows for more accurate pricing and supply forecasts.
For example, you can promptly eliminate unpopular products and ensure the availability of leading items in the warehouse.
Information available through internal analytics:
sales data;
product ranking;
number of active positions;
detailed information about products;
order statuses;
returns of goods;
distribution of stocks across warehouses;
geographical distribution of orders.
Internal sales analytics services help sellers effectively monitor business development, forecast sales volumes and plan future deliveries, as well as identify the most popular and uncompetitive products.
Analysis of the external environment
External marketplace analytics is a study of competitors email lists uk and the market based on data collected from various open sources, platforms, and automated services. Such analysis plays a key role for sellers who are just starting to work on the marketplace. It allows you to correctly determine the product category, if there is none, understand which niche is easier to gain a foothold in, detect a shortage of goods on the market or an excess in certain segments.
Analysis of the external environment
Source: shutterstock.com
Information collected by external analysts includes the following:
the popularity of various niches and the number of active competitors;
financial turnover of competing brands in selected niches;
price segments and sales leaders;
sales volumes of specific products;
categories with the highest and lowest activity;
the most dynamically developing categories;
the best products for the season.
These and other data, summarizing sales statistics and price fluctuations for certain goods, are available to anyone who wants them. But to obtain them, you need skill in collecting and analyzing large amounts of information.
Tracking data on hundreds of cards on different platforms on your own is almost impossible due to their constant updating. Although certain information can be obtained in the seller’s personal account on the marketplace, analytical services offer much more detailed information.
Thanks to automation, such services are able to process thousands of cards on different platforms in a matter of minutes and provide a full understanding of the market situation.
Analysis of the internal environment
Internal marketplace analytics provide a comprehensive set of tools that allow sellers to collect information about their products and evaluate sales performance in detail. These tools support the process of identifying both the most profitable and unprofitable products, and also help in planning purchases and logistics. The information is available only to the sellers themselves and is not visible to other users.
The main goal of internal analysis is a deep study of product characteristics and competitive environment, analysis of own sales and cost optimization.
All key internal research data, including information on products, sales volumes, total revenue and logistics operations, are provided in the seller's personal account on the platform and come directly from the marketplace.
Analysis of the internal environment
Source: shutterstock.com
The main tasks of internal analysis include:
increase in sales volumes and reduction of costs;
reduction of costs for paid storage;
inventory optimization;
reduction of time costs.
One of the significant advantages of such tools is the ability to organize unrelated information. The resulting data, presented in the form of graphs, reports and charts, helps improve business management, which allows for more accurate pricing and supply forecasts.
For example, you can promptly eliminate unpopular products and ensure the availability of leading items in the warehouse.
Information available through internal analytics:
sales data;
product ranking;
number of active positions;
detailed information about products;
order statuses;
returns of goods;
distribution of stocks across warehouses;
geographical distribution of orders.
Internal sales analytics services help sellers effectively monitor business development, forecast sales volumes and plan future deliveries, as well as identify the most popular and uncompetitive products.