One of the main learnings from 2023 regarding e-commerce is that, while the growth trend continues, the sector has reached an evident state of maturity. And it is in this more complex and competitive phase of the industry that the search for ecommerce metrics that provide a clear and complete picture of consumer behavior to better understand it has become increasingly important.
Therefore, we will explain the current situation of the ecommerce sector, the new characteristics of consumers, as well as 3 research solutions that are undoubtedly essential for obtaining more valuable insights in this context.
The phygital reality: New consumer, new ecommerce metrics
Currently, the ecommerce sector offers high growth prospects, at least until 2027. In fact, amid this solid expansion, this channel has already confirmed itself as the scenario for around 20% of all our purchases, according to experts in the field.
However, the digital environment has evolved alongside consumers. This poses new challenges for market research, especially when it comes to finding new tools, methodologies, and analysis techniques that allow:
- Understanding current consumer dynamics
- Using data and analysis to guide decision-making
- Staying in tune with a constantly developing market
In these circumstances, measuring online consumer behavior involves considering them immersed in a new phygital reality, where the physical and digital worlds are fused. This is a consumer who does not respond to linear purchase journeys, as their interaction between the online and offline worlds does not follow fixed patterns. Therefore, analyzing them requires a broad observation of their reality.
This is where innovation in research solutions comes into play, to obtain ecommerce metrics more aligned with current customer expectations and the challenges facing the sector at this time. In other words, metrics that take a different approach, allowing a comprehensive understanding of the new consumer landscape.
Raise your game: 3 key solutions for more insightful ecommerce metrics
With the above context, it is evident that, now more than ever, shaping a comprehensive measurement system is essential. One that offers a comprehensive diagnosis of the digital consumer, backed by quality data.
In that sense, over our more than 20 years of experience, at Netquest, we have set out to develop research solutions specifically designed to achieve a 360° view of consumers. However, today we want to focus on discussing three very particular solutions whose goal is to help marketing and market research professionals better understand the reality of the e-shopper:
- Behavioral data
- Netrica
- Digital Shopper Monitor
These analysis tools stand out for studying the digital behavior of the consumer, revealing their motivations, interactions, as well as browsing and purchasing habits.
They are solutions with the ability to provide a complete picture of the online consumer, as the source of information is the same user or panelist. They give their consent to analyze their digital activity to obtain deeper ecommerce metrics that are not just a number. For example: what pages they consult before visiting a site, what happens during that visit, what search terms they use to find a product/service, what happens after the purchase, etc.
Here is a breakdown of each of these solutions and the type of ecommerce metrics they allow us to obtain.
Behavioral data
Behavioral data represents a significant advancement in market research in the current reality of consumers and their phygital journey. Firstly, this user-centric technology allows real-time tracking of consumer digital behavior, collecting data from multiple devices (smartphones, tablets, or computers).
It's worth noting that this data collection encompasses the overall consumer activity within the digital environment. In other words, it not only collects information on interactions with ecommerce.
Secondly, it also enables the comparison of data declared by the consumer during traditional research with the actual data of their behavior. This allows enriching the analysis of the same person based on different complementary methodologies. For example:
- On one hand, we can inquire about habits, opinions, consumption, and countless aspects that help profile our consumer.
- On the other hand, we can observe how this consumer behaves in their online reality: which websites they visit, the devices they use, their searches, where they make purchases, what percentage these purchases represent in their total digital spending, etc.
As a result, these insights are more genuine and thorough because they come from real consumers.
Don't miss: Behavioral data: Quality data for a 360° view
Netrica
On the other hand, Netrica is a tool that immerses us in the specific panorama of ecommerce, also from the perspective of consumer behavior. With Netrica, it is possible to understand how consumers interact with different brands and marketplaces, and access detailed data on visits, conversions, penetration, market share, shopping carts, average spending, and duplications, among other aspects related to the sector's main retailers.
This way, key indicators can be built to understand ecommerce consumers through:
- Consumer profile: who consumers are, their characteristics, what they buy, where they buy it (through which ecommerce sites and applications), etc.
- Detailed information: full access to information classified by sectors, brands, and manufacturers relevant to clients.
- Continuous updates: constant data updates allow seeing them in perspective and understanding how they are evolving over time.
Digital Shopper Monitor
Finally, the Digital Shopper Monitor technology takes us one step further in observing user behavior, offering a window into a deep understanding of the interaction between consumers and the main players in ecommerce.
On one hand, a part of this tool focuses on monitoring user behavior and experience, based on the Net Promoter Score (NPS) metric of the ecommerce brand in question and the sector's main leaders. Based on the results obtained, panelists are surveyed to thoroughly measure their satisfaction level. This detects trends, strengths, and areas for improvement in their shopping or browsing experience.
This information collection and update are carried out weekly and processed with Artificial Intelligence to classify panelists' opinions based on the detected sentiment: positive, negative, or neutral.
The goal is for you, as a researcher, to have an analysis of the historical evolution of the shopping experience, with data that evaluates the opinions and feelings of real consumers.
Some of the additional benefits obtained with this solution include:
- Access evaluations of satisfaction and user perspectives on the top 5 ecommerce platforms in the country.
- Understand if the rating is related to a particular event or if it covers the entire shopping experience.
- Obtain information supported by facts.
Time is now: Change the focus of your ecommerce metrics.
What do you think of these solutions? Would you like to have a deeper understanding of your digital consumer?
As you have seen, our solutions offer a different perspective from traditional research by focusing on "breaking down" every detail of real consumer behavior in the online world.
Get in touch with us and learn more about how each of our solutions can help you make key decisions that provide a differential advantage over your competitors. Revolutionize your strategies with our ecommerce metrics!
