The development of analytics and data usage is the most frequently cited marketing priority according to Forrester's "The Future of Analytics" study. 6 out of 10 people list it among their five most important goals for the next 12 months.

At the same time, fewer than half of e-sellers use tools that give them full insight into data coming from various platforms. The expectations of customers shopping online are steadily growing. Advanced analytics makes it possible to improve their shopping experiences and even predict behaviours and decisions made in an e-store.

Data-driven e-commerce

Data-driven e-commerce

Data analysis allows sellers to gain a detailed picture of consumer behaviour. This helps tailor marketing activities and personalise the offer. Marketing effectiveness indicators (website traffic/unique visitors, visit duration, bounce rate) make it possible to check how visible the store is online. Special tools, such as Google Analytics, are used to measure the above-mentioned markers. Sales effectiveness indicators (conversion rate, average basket value, abandonment rate, return on investment) enable measurement of the business model's performance. The popularity of indicators that allow analysis of the purchase path is also steadily growing.

− Given the level of competition in the e-commerce market, customer loyalty is becoming increasingly important. To earn it, sellers must get to know and understand consumer behaviour. Analysis of purchase frequency, the time between them, email conversion or customer satisfaction are indicators increasingly used by aware sellers – emphasises Matthieu Bondu, Country Manager for Poland at PrestaShop. – During the pandemic, online shopping became a necessity for many people. Today, to grow, e-stores must provide a shopping experience that is pleasant and encourages customers to return.

Data combined with artificial intelligence mechanisms makes it possible to predict customer behaviour. It was predictive analytics that enabled the success of companies such as Netflix. Thanks to a recommendation system developed on the basis of data, the company has recorded a high customer retention rate for years.

Do Polish e-sellers understand customer needs?

Polish e-sellers vs. customer needs

According to the report "What (Bugs) E-commerce?", as many as 78% of Polish e-store customers are willing to share their data in order to receive personalised offers. At the same time, 8 out of 10 consumers are not fully satisfied with their online purchases. Understanding what causes negative opinions about a particular store requires the use of analytics and taking various effectiveness indicators into account.

− In Poland, many online store owners still pay attention only to website traffic. Meanwhile, the key indicator is conversion, which shows how many people visiting an online store made a purchase. If this rate is low, you should check at which stage of the process the customer abandoned the basket. Among Polish sellers, awareness of the importance of analytics in the e-commerce industry is still lower than in the West. However, we can see that interest in analytical modules is steadily growing – adds Bondu.

Integration of data from various platforms

Integration of data from various platforms

Key indicators and tools that enable analytics to predict customer behaviour

Numbers alone are not enough to improve customer experiences and store results. They need to be properly interpreted, and the way data is collected and presented matters. Thanks to increasingly accessible tools, advanced analytics is becoming available also to people without prior experience in this field. An example of such a solution is PrestaShop Metrics within the PrestaShop platform, on which over 25,000 e-stores operate in Poland. It brings together in one place several sources of information needed to manage an e-store. These concern, among other things, sales data, traffic or the path the customer takes around the store.

− Acquiring and using data does not have to require large outlays or advanced knowledge. Helpful tools are within reach – points out Bondu.

Since June, an extended version of the module has also been available – PrestaShop Metrics Advanced, which provides access to data from 14 months back and offers real-time data synchronisation.

 

Sources:

  • "The Future of Analytics" report by Forrester Consulting
  • "What (Bugs) E-commerce? A report in the form of a guide on e-commerce challenges 2021"

Summary

The article shows that data analytics is becoming a key tool in e-commerce, allowing sellers not only to measure effectiveness but also to predict customer behaviour. It cites examples such as Netflix, which thanks to data-based recommendation systems maintains a high level of user loyalty. In Poland, however, only some e-sellers fully use the potential of analytics – many focus on traffic rather than conversion.

Nevertheless, interest in tools integrating data from various platforms is growing, an example of which is PrestaShop Metrics. An interesting fact is that as many as 78% of Polish customers are happy to share their data in exchange for personalised offers, which creates enormous opportunities for sellers ready to invest in analytics.