Make Sure Your Brand Doesn’t Take a Hit on Online Marketplaces With The Proper Analysis
23 Apr 2020
We are sure that you are aware that the increase of price for products can directly affect sentiment towards the brand and product itself. During the Covid-19 pandemic, we have seen an increase in price and the scarcity of stock for some essential products, mainly relating to hygiene and immune protection, such as hand sanitizers, hand soap or even soap in general, along with disinfectant or disinfectant materials such as bleach and pure alcohol, and of course protection masks.
Now, with these increases, of course there is bound to be a stir up from the general public. Considering shopping in stores are limited for essential food and fresh products, most grocery shopping is done online. This is where e-commerce platforms shine, or so we all thought. However, with the scarcity in stock, and the panic buying culture that continues to take over within this self-isolation (quarantine) period, we can also see e-commerce platforms being flooded with resellers increasing their prices. Also, some of you may notice even the increase in price within official stores online through popular e-commerce platforms as well.
Social distancing is driving more and more people to online marketplaces and causing pricing and demand to spiral out of control.
Now, with the current situation, we are unable to depend on the e-commerce companies alone to sort this mess out or to take inputs on the capitalism of scarcity for the said essential products because of the wide range and numbers of users and merchants on e-commerce platforms as we speak. Therefore, if you are an official brand merchant on these platforms you may receive indirect or even direct backlash from this issue. So, how can you keep up with consumer sentiments towards your brand, especially if you are in the relating industry, such as FMCG, Manufacturing and others.
Sonar’s Marketplace Analytics solution enables companies to benchmark of their exposure or views, pricing and sentiment compared to their competitors.
We help companies keep track of their brand’s presence on popular e-commerce marketplace platforms, in which one way to this is by monitoring brand sentiment. Yes, sentiment analysis is not limited to social media and digital media channels. We understand that during these tough times, companies need to keep track of their product or services and consumer feedback more than ever due to the limited resources, man power, and buying power. As the situation affects more than one part of business operations.
Marketplace’s themselves don’t provide such analytics
Let’s say you’re doing fine in terms of availability and pricing, but with the limited deliveries going out during times of social distancing, the general public online are frustrated with the shipping process and timing. The frustration may not be aimed directly at you, however as a merchant in the online marketplace, it will affect sentiments towards your brand as well as it may not reflect the best of service, so you would need to pay more attention to these frustrated group of people, assuring and explaining to them about the current situation that has put a halt in deliveries. Fast and clear response is needed more than ever during state of emergencies. Especially, when the online platforms are now becoming the primary source of purchase.
Sonar Marketplace Reports can help businesses with:
- Coverage on Prominent E-Commerce Sites such as Tokopedia & Shopee
- Product prices comparison with competitors over thousands of products
- Calculate and Compare with competitors on views and purchases of products
- Analyze product price benchmarks over thousands of stores
- Discover high volume stores on your products and competitors
- Uncover purchase habits on single or multiple product groups
Contact us to get a tailored demo of Sonar Marketplace Analysis and sample reports.
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