Many studies and news reports have detailed how consumers have fully adopted e-commerce as a new means of shopping. Many consumers even spend more online now than they do at in-store locations. This is leading to great success for all retailers and other companies that rely on online credit card payment processing pages to do their business.
Business Insider recently reported that e-commerce companies accounted for more venture-backed exits in the technology sector than any other industry last year. Advertising, sales companies, marketing companies, document management organizations and all other types of business fell significantly behind e-commerce companies in terms of these investments.
For example, e-commerce startup Zulily exceeded all industry projections last year, when it was able to send its shares soaring upward by 88 percent during its initial public stock offering. VentureBeat reported how those statistics represented a high water mark for e-commerce companies – and illustrated the value gained by those who obtain a share of the online consumer base.
“The team has exceeded expectations; it’s a watershed moment for e-commerce,” Dave Spector, a former e-commerce investor and the co-founder of MeCommerce, told VentureBeat. “This outcome proves that e-commerce is alive — many investors wrote off the space for many years. This is very positive from a trend perspective.”
Google Analytics help e-retailers to better understand their customers
One reason that e-commerce companies are being valued so highly is because they’re able to use data and digitally derived statistics to understand their consumer’s needs to a greater degree than in-store locations are able to. Internet Retailer even recently reported that Google plans to open a “Academy” which will allow marketers and e-commerce retailers to better understand the data they obtain about their shoppers and clients.
“A lot more people are getting into analytics and they are not programmers, they are marketing people,” Justin Cutroni, an Analytics evangelist at Google, told Internet Retailer. “Analytics may not be their primary function, but they need to understand the data to make decisions.”
Google Analytics is “by far” the most widely used analytics tool used by web retailers in North America, according to Internet Retailer. It makes buying and managing ads on Google properties very easy, allowing retailers to simply link keywords and top-clicked products into their strategies for purchasing online advertisements. The first Analytics Academy course launched last fall, and a new course was added this month, illustrating the demand among e-commerce providers – and illustrating the value they get from studying such data.Back To Blog