E-commerce players have at their disposal voluminous customer insights that can be utilized to earn additional revenue by offering as business intelligence to brands or interested parties. In fact, they have gone ahead to offer analytical data as per the request of the brands. The available data can offer insights relating to product preference, purchase patterns and behaviour which are definitely of much value to the concerned brand. Customer data collected and collated depends upon the online shopping transactions and social media identities of these shoppers.
For instance, Big Basket, a key grocery retailer has accumulated data of nearly city wise shopping preferences of its customers with regards to product preferences especially related to size, quality, shopping schedules and promotional offers.
Big Basket has set up a new vertical offering, Brand Intelligence which collates customer data to offer it FMCG brands such as P&G and Unilever in order to help them with winning customer strategies and promotional offers.
Another striking example is of Choosemybike.com that guides customers over their purchasing decisions also assists bike manufacturers in interpreting data relating to two wheeler preferences and expectations of prospective customers.
Also, depending upon their capacity, companies can conduct actual market research activities and offers valuable insights which otherwise can be procured through third party consulting firms.
Reference – https://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/e-commerce-players-turn-into-data-banks/46502989