Black Friday 2020: Retailers now use publicly available data to gain advantage
New research revealsa major increase in e-commerce retailers leveraging data and technology to understand the actions of competitors and customers over Black Friday period.
With UK retail shops closed over Black Friday this year and online sales already accounting for 28.5% of all retail sales in October (in comparison to 19% in January), consumers were inundated with options when it comes to shopping online, leaving e-commerce retailers facing unprecedented competition.
In a bid to better understand their audiences as well as competitor movements, retailers turned to technology, in order to gain critical insights. This is according to new research from?Oxylabswhich shows e-commerce retailers leveraged web scraping significantly more so, ahead of Black Friday, compared to last year.
The data revealed residential proxy traffic (made per e-commerce customer) increased by£301%on Black Friday 2020 in comparison to 2019 and datacentre proxy traffic increased by£97%on Black Friday 2020 in comparison to Black Friday 2019.
Breaking this down, these findings show there was a huge increase in retailers leveraging technology to efficiently understand their competitors? actions. These insights included data on pricing and promotion of products, product catalogues, shipping information, stock levels, and even consumers’ reviews and ratings of competitors, to name a few.
it was very unfortunate for UK retailers that Lockdown 2.0 coincided with the most important period in the retail calendar, The Golden Quarter and Black Friday. However, our findings from Black Friday this year highlighted the fact e-commerce retailers have had to become far smarter with their use of publicly available data, if they are to secure their share of consumers wallets and survive throughout this turbulent period, ” Julius Cerniauskas, CEO at Oxylabs explained.
Praseeda Nair is the editorial director of Business Advice, and its sister publication for growing businesses, Real Business. She's an impassioned advocate for women in leadership, and likes to profile business owners, advisors and experts in the field of entrepreneurship and management.