How Consumer Purchase Data helps Brands in their Growth & Future Moves?

What does it mean by Consumer Purchase Data?

Consumer purchase data is the information about the purchases made by consumers, including the product, the time of purchase and the amount of money spent. This data shows purchase history, customer buying patterns and other relevant details such as product appearance. This consumer purchase data often comes with customer identity data. It covers purchases made on all devices associated with the shopper's identity.

Brands can easily predict future moves, make recommendations and deliver personalised experiences based on consumer purchase data and the insights derived from it.

How do we collect Consumer's Real Purchase Data?

Consumer information and data comes from real transaction records and real receipts captured by our systems. We capture billions of real online purchases from the engagement data on our website / app. This engagement data uses registration details, visitor tracking with cookies and IP addresses, and participation in loyalty programs etc. We also use many other different means to collect real consumer purchase data based on real purchase done.

What is expected out of this Consumer Purchase Data?

Consumer Purchase data provides information to help you understand your competitors, market trends, consumer trends and their buying habits. Using these statistics, you can predict how the market is going to move in the future and make smart decisions for your business.

• Competitor Profiles: Detailed information about your competition, including size, growth, market share, strategies, strengths, weaknesses, product offerings, pricing strategies, marketing tactics and any recent changes to its activities.
• Market trends and analysis: Insights into current market trends, emerging patterns, and consumer behaviour and preferences. This may also include forecasts of how the market will develop in the future.
• Consumer insights: Data on customer preferences, satisfaction levels, buying patterns and demographic information.
• Financial performance: Competitor financial data, including sales, profitability, investment patterns and funding sources.

Why Brands use Consumer Purchase Data & how it helps them?

Consumer Purchase Data provides a solid foundation for strategic planning by offering data-driven insights and consumer behaviour. This helps brands to set realistic goals and to develop the strategies needed to achieve them. For brands that are looking to expand internationally, consumer purchases data provides vital information on foreign markets, cultural nuances, the regulatory environment and local consumer behaviour.

Here are some of the key factors you can learn more about using consumer purchase data:

1. Competitive analysis:  

‍This form of consumer intelligence is the collection of data & insights on competitor's strategies, strengths, weaknesses and market positions. Brands can use this data to differentiate themselves, to identify competitive advantages and to anticipate the moves of their competitors.

2. Customer needs and preferences: 

Consumer Purchases Data provides in-depth knowledge of the demographics, behaviours, preferences and pain points of customers. As a result, brands can tailor their products, services and marketing messages to better meet the needs of their customers.‍

3. Risk management: 

Consumer Purchases data helps identify potential risks in the marketplace, such as changes in consumer sentiment, new regulations or the emergence of competitors. This enables brands to take proactive measures to mitigate their risk.

4. Understanding consumers: 

Acquiring new customers, customer loyalty and retention are the primary focus for most companies. On average, brands spend five times as much to acquire a new customer as they do to retain an existing one. Understanding your customers can help to effectively target new customers for less marketing spend, while helping to increase retention.

Examples of Consumer Purchase Data Elements that we process!

Here are some of the data highlights we process to make it easily understandable in a visualised manner. You can visit our blog section to see the samples of real data and have a clear understanding about how it works.

Nykaa vs Purplle: AOV & Top converting brands comparison for Quarter 2 in FY 2024

Home & Kitchen Category Sales Performance, AOV & Top Brands on Amazon for 2023

Amazon's Sales Growth, AOV & Top Categories for 2023

MCaffeine Sales Performance, AOV & Top Products on Nykaa For 2023

Firstcry Sales Growth Trends & AOV Comparison for 2023!

To see more in-depth data driven insights & consumer behaviour in the ecommerce vertical, feel free to reach us here.