Much like elsewhere in the world, consumers in Switzerland are gradually growing increasingly comfortable purchasing an array of consumer packaged goods (CPG) online. While e-commerce purchase intent across the fresh food and baby categories remains low, other areas, namely beauty and personal care are ripe with online opportunity.
In addition to the fact that consumers will continue becoming more comfortable with buying more CPG items online, the playing field of e-commerce players—both in Switzerland and abroad—will grow. That’s why brands and retailers will need to stay focused on their e-commerce strategies and analytics now to ensure that they will be able to flourish as market leaders in the e-commerce environment of tomorrow.
Here are three ways how:
KEEP AN EYE ON COMPETITOR ACTIVITY
With an endless shelf in an online world, competition is tough for manufacturers, especially when it comes to pricing, positioning and range. There’s also no question that visibility online is critical to future success. Ninety-two percent of consumers in Switzerland are connected to the internet and 75% connect to the internet via their mobile devices. So you need to know how your product stacks up against the competition by being able to answer the following questions:
- How many of your products appear on the first page of search results
- How well do your products perform in a retailer’s search results
- How does your coverage stack up against your competition
- Which of your competitor’s products are on promotion, out of stock or priced lower than yours
Having the answers to these questions in real time will help you make quick adjustments to your e-commerce strategy, win over the disloyal consumer and stay ahead of the competition.
STAY ON TOP OF YOUR PRODUCTS AT ALL TIMES
It goes without saying, but if your products are out of stock or don’t appear in search results, you’re not going to be able to sell them.
That’s why it’s integral that you:
- Monitor your prices and promotions against your competitors, across all retailers
- Check your stock availability, promotions and pricing using real-time data
- Understand where best to deploy your products to avoid further out-of-stocks
Preventing out-of-stocks is an incredibly easy way to boost your sales, particularly when you have the right analytics at your fingertips.
AUTOMATE WHERE YOU CAN, SAVING TIME, MONEY AND RESOURCES
Implementing all of these tactics may seem tedious or overwhelming, but there are ways to be smart and agile in the way you deploy your e-commerce strategy.
Using automated, simplified databases or dashboards to collect accurate analytics can help you to refine your approach in real time—ensuring you’re maximising on sales. By automating most of your tasks in one place, you’ll save time and resources, while also being able to anticipate your next move.