Navigating the E-Commerce World
The booming and dynamic e-commerce landscape is full of opportunity and competition.
The global e-commerce growth rate is forecast at 10.4% this year, bringing worldwide ecommerce sales to $6.3 trillion. E-commerce retail sales will continue to increase, and is forecasted to reach 20.8% in 2023 and increase to 24% by 2026. In online grocery, for instance, business is projected to grow to a whopping $146 billion by this year, as grocers add more amenities online to satisfy customer needs. And while these growth projections are exciting, it’s challenging for retailers to collect omnichannel data, hindering their full growth potential.
To keep shoppers loyal, retailers need to create a profitable strategy through accurate data, timely analytics, and actionable competitive intelligence.
What is Competitive Intelligence?
No business exists in isolation; there are always other businesses competing for customers. Thus, in order to maximize success, retailers need reliable data about their competition.
Competitive intelligence is the strategic monitoring of competitor data allowing businesses to track industry trends, recognize gaps in the market, identify opportunities and make profitable decisions accordingly.
Competitive intelligence is vital for retailers who want to understand the market, across geographies. It helps retailers identify new competitors, increase category sales, and merchandise the right SKUs.
Bungee Tech Data Helps Transform Retail Strategies
Companies like Bungee Tech provide retailers with market intelligence. With complete and actionable insights, retailers can sell the right products at the right price across channels.
It's possible to boost profits when data and insights are centralized and simplified. Bungee Tech offers clients competitive and relevant pricing, promotion, assortment, and availability data to help strategize and leverage their businesses to maximize profits and growth potential.
The company provides brands and retailers comprehensive data solutions like dashboards that let users click into specific insights. Bungee Tech monitors all channels and all markets so you can quickly respond to customers and adjust to the market landscape.
This solution was purpose-built for today’s retail realities. Retailers use Bungee Tech’s solution to track key data points like pricing, promotions, availability, and assortment which help businesses make informed decisions that strengthen their organization.
Increase Category Sales With Data And Analytics
Bungee Tech allows retailers to use a data-backed approach to increase revenues.
The company offers exact product and catalog matching across all platforms and detailed match coverage for all its business competitors.
The company delivers ready-to-use data via API, data feeds, events, or its RetailScape solution.
Bungee Tech specializes in acquiring data from hard-to-access categories such as private label and fresh foods.
More on Bungee Tech
“We have assembled a team of highly qualified, skilled and experienced individuals from across the world. The Bungee Tech team consists of highly motivated individuals committed to providing clients actionable intelligence that can help their businesses grow efficiently. We have on boarded a team of retail, brand, data scientists, ML and analytics experts that will provide our clients comprehensive data driven recommendations with complete accuracy.”
Conclusion
Retailers looking to expand visibility into pricing, promotion, assortment, and availability data should consider Bungee Tech. Bungee Tech’s services help retailers make data-backed decisions to transform their retail strategies.
For further information or queries, the company can be reached via the details provided below.
Media Contact
Company Name: Bungee Tech
Contact Person: Caitlin Orosz
Email: Send Email
Address:8201 164th Ave NE Suite 200 PMB 79
City: Redmond
State: WA 98052
Country: United States
Website: http://bungeetech.com
