Companies and retailers are competing in an increasingly dynamic e-commerce market, which means the need to understand promotional trends and benchmarks has never been greater.
By examining promotional mechanics, companies can map out how prices are changing across key categories and gain full visibility into what kind of promotions are running, how frequently and how long they last. This kind of information can help businesses plan, strategise and execute promotional campaigns in a more effective manner.
Why promotions are key to reaching consumers at home
Online retailing is continuing to grow thanks to the Coronavirus (COVID-19) pandemic and its aftermath. This means reaching consumers with effective online promotions is more important than ever. To determine effective promotional strategies and tactics, you first need to understand promotional mechanics for specific product categories and countries.
Via, Euromonitor International’s global e-commerce product and price monitoring platform, extracts millions of data points every day for standardised cross-comparison. It can reveal which product categories and market players are seeing high rates of promotions as well as the characteristics for each of those promotions. Examining over 1 million daily data observations (SKUs) between 1 October and 31 December 2020 for the US e-commerce market for home care reveals several insights.
Key promotional insights in US home care:
• The largest category within home care, laundry care, is also the category with the highest frequency of promotional incidence
• Across the three months being observed, November saw a much higher promotional incidence compared to October and December
• Tuesday is the day of the week that saw the most promotions
• The average online promotion for US home care lasted just under 6 days but varied strongly based on the type of promotion
• Amazon has a lower promotional frequency than other retailers within the sample, and manufacturers’ promotional frequency on Amazon varies strongly compared to other retailers
With Euromonitor’s Via, you can utilise over 30 million online SKUs across 40 countries and 1,500 retailers to unlock key strategic and tactical insights for your organisation. For more information on the e-commerce data we capture using Via across other industries, countries, retailers and suppliers, as well as any questions relating to promotional mechanics, please request a demonstration.