The Business Need
A leading US-based Ecommerce giant wanted to perform competitor analysis for various assortments they were offering. The client had a major need to identify top-performing products based on the demand score across various categories. They wanted to identify the gaps in their inventory against their potential competitors. They wanted a list of potential sellers who had good conversions to collaborate. This list had to be refreshed on a monthly or quarterly basis.
Identify top-selling products for a specific category
Measure logical metrics and derive the demand score for individual products
Create a list of all products that are on demand by monitoring competitors’ listings
Perform an inventory gap analysis against their competitors’ products
How we solved the problem
Our data engineers developed a custom solution to extract dynamic product listings based on the demand score for each product type. The collected data was further analyzed to remove duplicates and combined with other data sources for accuracy and relevancy. Competitors’ top-selling products were identified on a real-time basis for each category liaising with the client. In addition to this, our analysts identified promising sellers who sold more for each SKUs.
The sheer volume of data, around 30,000 SKUs, posed a huge deterrent for analysis, as most of them changed dynamically and had duplicate listings. The competition was intense in the expanding marketplace. Mapping products and SKUs against the competitors’ proved to be a tedious and time-consuming task as most matched on a product level but failed on SKU level.
The client was able to optimize their prices and increase sales over a competitive landscape. Better positioning of their products increased their visibility and enabled more visitors to land on their product page and get converted to customers. Both, in turn, improved brand image and brand awareness.