How Alternative Data Drives the eCommerce Revolution in Pandemic

The eCommerce revolution has taken the world by storm, both East and West. The pandemic brought many shoppers online and away from physical stores, but this trend was strong even before COVID-19. According to Statista, 24% of China’s, 17% of Taiwan’s, and 16% of South Korea’s retail sales are made online, and these numbers will continue to rise.

Alternative Data Drives eCommerce

Data has been the key to the Asian eCommerce revolution. Data-driven solutions provide a virtuous cycle--the more consumers shop online and discuss their purchases through reviews and status updates, the more consumer data is ripe for collection. Alternative data collection is done through data crawling, scraping, and it is analyzed to create actionable consumer insights.

How Much is eCommerce Growing in Asia?

Many Asian populations have been enthusiastic early adopters of technology, including mobile and apps, in some cases, faster than in the West. In Asia Pacific countries, the number of mobile subscriptions outstrips the population. Mobile devices in many areas are the primary way Asian consumers browse for products, make purchases, and communicate about their shopping habits.

Online sales in Asia were strong before the pandemic but have grown stronger ever since. In 2017, Asia accounted for 40% of worldwide online sales. The pandemic kicked this eCommerce trend into high gear.

According to Alon Ghelber from Forbes, “Businesses that can embrace digital transformation on time can actually benefit from the pandemic.” Since so many consumers in Asia were already online, the rise in eCommerce in the East was inevitable.

Sales on Shoppee, one of the leading Asian eCommerce platforms, increased by 74% and reached $6 billion by the first quarter in 2020. A shopping festival in Shanghai, China, raked in $2.2 billion in 24 hours. Banks and credit card companies in Asia make it easier for small merchants to sell their wares online with partnerships like Visa in Hong Kong’s alliance with eCommerce platform Boutir.

Major platforms such as Lazada and Shopee continue to dominate the Asian eCommerce market. Lazada, launched in 2012, serves Singapore, Malaysia, Indonesia, Philippines, Singapore, Vietnam, and Thailand.

Lazada hosts over 155,000 merchants and sells to 560 million customers in the South Pacific Asian region.

However, Lazada was recently surpassed by Shopee, backed by Tencent. Shopee took a page out of Lazada’s book and improved upon it with a mobile-centered and data-driven, customer-centric approach that encourages brand loyalty.

What is Driving the Asian eCommerce Growth?

The driving force behind the growth of Lazada, Shopee, and other players in the Asian eCommerce market is data. Specifically, alternative data is produced from user-generated content such as social media updates and reviews.

The more time consumers spend online, the easier it is to understand their habits, preferences, pain points, and what features and products they want to see. The raw material for alternative data can be found everywhere online.

What is Alternative Data and How is it Used?

Alternative data is derived from user-generated content. When someone writes a review of a product or posts on social media about a night out at a restaurant and describes the food or the service, these are examples of user-generated content that can be used to produce alternative data.

There are many reviews and social media mentions of products and brands. Collecting and reading all of them may not seem possible. Fortunately, there are web crawling and scraping tools that help marketers locate mentions of brands and products.

Scrapers retrieve texts through lifting HTML code. Analytics tools determine the attitude of the text towards the brand. The result is actionable alternative data.

Alternative Data Strategies

Alternative data refine business strategies, including product development, customer service, and marketing. If customer reviews indicate that most customers would prefer a broader selection of colors for ballet shoes, companies can respond to these requests.

If sentiment analysis indicates that customers are not happy with specific questions asked by customer service callers or chatbots, those questions can be eliminated or revised.

Customer feedback from alternative data can inform companies if pricing is a pain point or if an ad campaign didn’t seem to grab them. Alternative data points the way to making improvements and doubling down on products and services customers like.

The Power of Data in the Asian eCommerce Market

Asian eCommerce platforms leverage customer data to drive sales, customer retention, and brand awareness. The widespread use of mobile in Asia provides a wealth of data for eCommerce. Discovering preferences and customer buying habits is the first step towards generating alternative data that drives the eCommerce boom worldwide.

COMMENTS


/fa-youtube/ Latest Tech Videos!

Name

25PP,2,3G,3,4G,4,Absinthe,5,Adobe Flash,3,Ads,21,Affiliate Marketing,9,AliExpress,1,Amazon,53,Amazon Phone,1,Amazon Tablet,7,AMD,5,Android,251,Android 10,2,Android 11,2,Android 12,2,Android 6,3,Android 7,4,Android 8,9,Android 9,4,Android APK,35,Android Apps,124,Android Auto,3,Android Games,20,Android GApps,3,Android Gingerbread,2,Android Ice Cream Sandwich,8,Android Jelly Bean,21,Android KitKat,12,Android Lollipop,10,Android Marshmallow,3,Android N,5,Android Nougat‬,5,Android O,7,Android Oreo,8,Android P,2,Android PC Suites,1,Android Pie,3,Android Q,2,Android R,2,Android SDK,9,Android TV,10,Android USB Drivers,2,Android Wear,10,Angry Birds,6,Anti Virus,18,App Developer,43,Apple,729,Apple CarPlay,1,Apple Pay,2,Apple Store,19,Apple TV,107,Apple Watch,67,Apps,127,ARM,2,Asus,2,ATT,7,Baidu,2,Battery,2,Bill Gates,2,Bing,16,Bitcoin,18,Bittorrent,5,BlackBerry,11,BlackBerry App,3,Blockchain,13,Blogger,44,Blogs,76,Bluetooh,6,Business,460,BuySellAds,1,Call Center,7,Camera,7,Cars,16,CCTV,1,Certifications,15,China Mobile,3,Chrome,26,Chrome OS,6,ChromeBook,2,ChromeBox,2,Chromium,4,CISPA,1,Cloud,35,CMS,6,Communication,20,Computer,76,Cortana,1,Credit Cards,8,CRM,12,Cryptocurrency,19,Currency,19,Cyberbullying,7,Cydia,47,Cydia Apps,11,Cydia Tweaks,11,Debit Cards,6,Developers,62,Digital Camera,8,Digital Marketing,362,Digital Signage,3,Disqus,1,DMCA,1,Doodle,1,DOS,1,Downgrade,16,Dropbox,1,Drupal,3,Earn Money Online,60,EarPods,1,eCommerce,46,Electra,6,Electronic Arts,1,Emulator,5,Encryption,2,Entrepreneurs,100,eReader,4,eSignature,1,Ethereum,6,Evasi0n,16,eWallet,7,Facebook,136,Facebook Ads,12,Facebook Apps,19,Facebook Credits,4,Facebook Developers,4,Facebook Like,8,Facebook Marketing,13,Facebook Messenger,5,Facebook Pages,9,Facebook Photos,2,Facebook Stocks,2,FacePAD,1,FaceTime,2,FileSonic,2,Firefox Add-Ons,2,Firefox OS,2,Fitbit,1,Foursquare,1,FP,17,Framaroot,4,Free Stuff,27,Gadgets,207,Galaxy Nexus,2,Galaxy S-Voice,2,Game of Thrones,1,Games,62,Gaming Console,12,Gaming Laptops,13,GApps,2,GearBest,6,Gifts,6,Gmail,13,Google,252,Google +1,10,Google Ads,5,Google Adsense,3,Google Adwords,5,Google Analytics,1,Google Apps,11,Google Earth,2,Google Fit,2,Google Glass,8,Google IO Conference,4,Google Map,7,Google Music,2,Google Nexus,13,Google Nexus Player,1,Google Panda,1,Google Penguins,1,Google Play Edition,1,Google Play Store,18,Google Plus,17,Google Plus Pages,6,Google Search,42,Google TV,5,Google Voice,6,Google Wallet,1,Google+,16,Google+ App,1,Google+ Pages,6,Graphic Design,10,GreenPois0n,28,Groupon,6,GSM,3,Guest Posts,10,h3lix,2,Hack,89,Hackintosh,4,Hard Disk,14,Hard Drive,17,HDD,16,Headsets,6,HealthVault,1,Home Automation,14,Honor,1,Hootsuite,1,Hostgator,2,Hotspot Shield,1,HP,2,HTC,16,HTC One,6,HTML5,16,HTTPS,3,Huawei,4,Huawei Honor,3,Hyper-V,3,IBM,2,iCloud,31,iGoogle,2,iMac,10,Infographic,196,Instagram,19,Intel,8,Internet,475,Internet Explorer,18,Internet IPOs,1,Internet Marketing,171,Internet Protocols,4,iOS,456,iOS 10,21,iOS 11,28,iOS 12,30,iOS 13,20,iOS 14,24,iOS 15,4,iOS 4,1,iOS 5,17,iOS 5.0.1,5,iOS 5.1,9,iOS 5.1.1,12,iOS 5.2,1,iOS 5.2.1,1,iOS 6,73,iOS 6.0.1,13,iOS 6.0.2,5,iOS 6.1,21,iOS 6.1.1,3,iOS 6.1.2,4,iOS 6.1.3,7,iOS 6.1.4,4,iOS 6.1.5,2,iOS 6.1.6,2,iOS 7,58,iOS 7.0.1,2,iOS 7.0.2,2,iOS 7.0.3,1,iOS 7.0.4,2,iOS 7.0.5,1,iOS 7.0.6,5,iOS 7.1,25,iOS 7.1.1,6,iOS 7.1.2,6,iOS 8,60,iOS 8.0.1,5,iOS 8.0.2,5,iOS 8.1,12,iOS 8.1.1,2,iOS 8.1.2,1,iOS 8.1.3,1,iOS 8.2,6,iOS 8.3,5,iOS 8.4,10,iOS 8.4.1,4,iOS 9,33,iOS 9.0.1,1,iOS 9.0.2,1,iOS 9.1,6,iOS 9.2,2,iOS 9.2.1,2,iOS 9.3,3,iOS 9.3.1,2,iOS 9.3.2,4,iOS 9.3.3,4,iOS 9.3.4,2,iOS 9.3.5,2,iOS Apps,90,iOS Beta,24,iOS Games,19,IP,3,iPad,423,iPad 2,54,iPad 3,47,iPad 3G,1,iPad 4,9,iPad Air,4,iPad Apps,32,iPad Mini,29,iPad Mini 2,2,iPad Siri,4,iPadOS,47,iPhone,483,iPhone 3G,52,iPhone 3GS,6,iPhone 4,63,iPhone 4S,67,iPhone 5,33,iPhone 5C,4,iPhone 5S,14,iPhone 6,31,iPhone 6 Plus,9,iPhone 7,2,iPhone Apps,32,iPhone Siri,7,IPO,3,iPod,394,iPod Apps,18,IPv4,1,IPv5,1,IPv6,1,iShower,1,iShower Speaker,1,IT,2,iTunes,195,Jailbreak,135,Jailbreak Tools,43,Jitterbug Touch,1,Joomla,5,Kaspersky,1,Keyboards,3,Keylogger,2,Kindle,9,Kindle Fire,3,Kingo,2,KingRoot,1,Laptop,76,Lasers,1,Launchers,3,Lava,1,LCD,2,Legal,5,Lenovo,2,Lenovo ThinkPad,1,LG,9,LiberiOS,2,Lightning Cables,1,Link Building,4,LinkedIn,4,Linux,13,Lockerz,1,Logitech,1,Lync Desk Phones,1,Mac,228,Mac Mini,4,Mac OS X,202,MacBook,10,MacBook Air,16,MacBook Pro,16,Macintosh,7,macOS,101,macOS 10.12,9,macOS 10.13,9,macOS 10.14,8,macOS 10.15,9,macOS 11,12,macOS 12,2,macOS Beta,5,macOS Big Sur,12,macOS Catalina,9,macOS High Sierra,9,macOS Mojave,8,macOS Monterey,2,macOS Server,3,macOS Sierra,9,Magento,2,Mambo,3,Maps,9,Mark Zuckerberg,2,Marketing,141,Marketplace,3,Meego,2,Megaupload,1,Meizu,1,Micromax,1,Microsoft,205,Microsoft Office,40,Microsoft SharePoint,1,Microsoft Surface,3,Microsoft Surface Pro,2,MIUI,3,Mobile,760,Mobile App Developers,36,Mobile Apps,214,Mobile Broadband,1,Mobile OS,32,Mortgage,1,Moto X,1,Motorola,6,Mouse,3,Movies,1,Mozilla Firefox,16,Music,16,MySpace,2,Nasdaq,1,Net Meeting,1,Nexus,7,NFC,1,Nikon,1,Nintendo,4,Nintendo 3DS,3,Nokia,31,Nokia Belle,2,Nokia Lumia,8,Nokia Normandy,1,Nokia Store,2,Nokia X,6,Notebook,1,Nuance,1,Office 2010,9,Office 2013,3,Office 2016,13,Office 2021,1,Office 365,10,OnePlus,1,Open Graph,1,Open Source,1,Opensn0w,1,Opera,6,Opera Mini,2,Operating System,90,Oppo,1,Oracle,2,Orkut,1,OS,47,OS X 10.10,65,OS X 10.10.1,6,OS X 10.10.2,9,OS X 10.10.3,10,OS X 10.10.4,6,OS X 10.10.5,4,OS X 10.11,25,OS X 10.11.1,3,OS X 10.11.2,2,OS X 10.11.3,2,OS X 10.11.4,2,OS X 10.11.5,3,OS X 10.11.6,2,OS X 10.8,2,OS X 10.9,37,OS X 10.9.1,2,OS X 10.9.2,5,OS X 10.9.3,12,OS X 10.9.4,7,OS X 10.9.5,5,OS X El Capitan,23,OS X Mavericks,40,OS X Mountain Lion,17,OS X SDK,9,OS X Server,48,OS X Server 3,5,OS X Server 4,15,OS X Server 5,9,OS X Yosemite,60,Outlook,13,Ovi,2,Ovi Store,1,P0sixspwn,1,P2P,1,PageRank,2,Pangu,11,Payments,16,Payoneer,2,PayPal,4,PDF,8,Personalization,1,PhotoBox,1,Photography,7,Picnik,1,Pinterest,2,PIPA,2,Piracy,3,PlayStation,6,PlayStation 4,4,Pocophone,2,Pod2g,2,Podcasts,2,Powerpoint,2,PP,2,Printers,10,Privacy,122,Programming,38,Projectors,3,PS4,4,PUBG,1,Python,1,QMobile,1,QMobile Noir,1,RAM,2,Redsn0w,23,Remote Access,8,Root Android,37,Rovio Mobile,4,S-Voice,2,Safari,42,Samsung,58,Samsung Galaxy,30,Schemer,1,Search Engine,77,Search Engine Marketing,75,Search Engine Results,52,Seas0nPass,2,Secure Socket Layer,3,Security,149,Selfie,1,SEM,67,SEO,133,SEO Tools,16,SERP,2,Server,12,Shopping,84,Signage,1,Sileo,2,SIM Card,2,Siri,12,SkyDrive,3,Skype,5,SlideShare,1,Small Business,418,Smart TV,4,Smart Watch,7,Smartphones,706,SMM,8,SMO,15,Sn0wbreeze,5,SnapChat,3,Social Media,138,Social Media Marketing,100,Social Media Optimization,66,Social Media Tools,12,Social Networking,192,Software,322,Sony,19,Sony Ericsson,5,Sony VAIO,1,Sony Xperia,3,SOPA,2,Speakers,3,Sprint,2,Spyware,2,SSD,16,SSL,2,Startups,267,Statistics,23,Stock,3,Stock Photography,3,Stock Photos,2,Storage,26,Store,46,Swift,12,Swype,1,Symbian,8,T-Mobile,4,Tablets,594,TaiG,5,TechGlobeX,3,TechGlobeX.net,1,Technology,282,Telephone,1,Television,8,Templates,5,TinyUmbrella,2,Tools,201,Torrent,4,Toshiba,2,Toshiba Satellite,1,TuneUp Utilities,1,TV,11,tvOS,55,Twitter,19,TypePad,3,Ubuntu,6,Ultrasn0w,1,Unlock,43,USB Debugging,2,uTorrent,5,Verizon,4,Video Marketing,15,Video Optimization,18,Videos,51,Vimeo,1,Virtualization,10,Virus,10,Visual Studio,3,Vlogging,3,Vlogs,3,Vodafone,2,Voice Call,20,VoIP,16,VPN,22,Wallpapers,1,Walmart,2,watchOS,64,Wearables,14,Web,219,Web Browser,29,Web Browser Plugins,5,Web Design,42,Web Development,70,Web Domains,15,Web Hosting,34,Web Servers,22,Western Digital,1,WhatsApp,6,Whited00r,1,WiFi,6,WiFi Calling,4,WiFi Hotspots,6,Windows,168,Windows 10,21,Windows 10 Enterprise,2,Windows 10 Mobile,1,Windows 10 Pro,2,Windows 10 Server,3,Windows 11,1,Windows 7,33,Windows 8,48,Windows 8 Pro,3,Windows 8 RT,3,Windows 8.1,6,Windows 8.1 Enterprise,1,Windows 9,4,Windows Apps,4,Windows Live,3,Windows Live Essentials,5,Windows Live Messenger,6,Windows Media Center,1,Windows Mobile,19,Windows Phone,47,Windows Phone 10,1,Windows Phone 7,10,Windows Phone 7.5,5,Windows Phone 8,9,Windows Phone 8.1,1,Windows Phone Apps,1,Windows Phone Mango,3,Windows Phone SDK,1,Windows Server,6,Windows Server 2012,2,Windows Server 2016,2,Windows Server 2019,1,Windows Server 8,1,Windows Vista,5,Windows XP,6,Wireless,4,Wordpress,52,Wordpress Plugins,6,Wordpress Themes,9,WWDC,65,Xbox,6,Xbox 360,6,Xbox One,3,Xcode,83,Xiaomi,8,Yahoo,15,Yalu,3,YouTube,17,Zong,1,ZTE,1,Zune,2,Zynga,1,
ltr
item
TechGlobeX: How Alternative Data Drives the eCommerce Revolution in Pandemic
How Alternative Data Drives the eCommerce Revolution in Pandemic
https://1.bp.blogspot.com/-1nQH7LCx2HQ/YBgdflh4-6I/AAAAAAAAR8w/hdW51yi3kswGGBSXk7xpSWZZHbrAwa9zQCLcBGAsYHQ/s16000/How%2BAlternative%2BData%2BDrives%2Bthe%2BeCommerce%2BRevolution%2Bin%2BPandemic.jpg
https://1.bp.blogspot.com/-1nQH7LCx2HQ/YBgdflh4-6I/AAAAAAAAR8w/hdW51yi3kswGGBSXk7xpSWZZHbrAwa9zQCLcBGAsYHQ/s72-c/How%2BAlternative%2BData%2BDrives%2Bthe%2BeCommerce%2BRevolution%2Bin%2BPandemic.jpg
TechGlobeX
https://www.techglobex.net/2021/02/how-alternative-data-drives-ecommerce.html
https://www.techglobex.net/
https://www.techglobex.net/
https://www.techglobex.net/2021/02/how-alternative-data-drives-ecommerce.html
true
6015647009126982431
UTF-8
Loaded All Posts Not Found Any Posts VIEW ALL Read More Reply Cancel Reply Delete By Home PAGES POSTS View All RELATED ARTICLES: TOPIC ARCHIVE SEARCH ALL POSTS Not Found Any Post Match With Your Request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Just Now 1 Minute Ago $$1$$ minutes ago 1 Hour Ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago More Than 5 Weeks Ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share To A Social Network STEP 2: Click The Link On Your Social Network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content