A year into the pandemic, it’s clear that consumers have adopted a “new normal” for shopping—and it’s digital. According to new research by PSFK, shopper loyalty has changed. Nearly 40% of consumers purchased from new brands and retailers online in 2020 and two-thirds intend to remain loyal. Just 23% of consumers intend to shift spending back to in-store from retail after the pandemic.
In this disrupted environment where consumer loyalty is up for grabs, business intelligence and data-driven decision-making are key to success. These are musts to capitalize on opportunities in e-commerce, which is projected to grow by nearly 20% in 2021 (eMarketer).
Amid this growth, Ironbridge Software announces the launch of Line Item, a new performance analytics platform to drive more profitable e-commerce with better insight into e-analytics and product attributes. Line Item by Ironbridge Software provides business intelligence solutions for consumer packaged goods (CPG) and retail companies.
Line Item highlights the following:
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- Share of Page – Is your e-Commerce SEO working across all search terms, on all sites?
- Pricing – Price analysis including item-by-item comparisons, alerts when action needed
- Trends – Detect new trending items
- Competitors – Line Item captures all product attributes including brand, manufacturer, form, packaging, flavors, scents, nutrition facts, drug facts, etc. We use these attributes to identify competitor items.
- Availability – Delivery times, charges and item availability both 1P and 3P fulfilment.
The launch comes with many businesses looking to build e-commerce analytics expertise as shopping trends shift.
“In our ‘new normal,’ the most successful online brands and retailers will be those that gain greater visibility into how product attributes, pricing and promotions perform—or don’t” Ironbridge CEO and founder Michael Dickenson said. “Line Item gives you the insights necessary to execute informed shifts in strategy.”
Built especially for CPG and e-commerce, Line Item enables a deep dive into e-analytics to help e-commerce marketing professionals, data scientists and brand managers understand more about share of sales, pricing strategy, product trends, competition, and supply chain attributes.
With Line Item, marketers can optimize their e-commerce SEO strategy across all keywords on retailer websites and online marketplaces. With Line Item, they can find out how their brands or items are ranking, if their promotion strategy is working, and if long-tail keywords are worth promoting. The analytics platform analyzes page share, rank by item, brand, form, in fact by any attribute.
Line Item also enables a deep dive into each product to capture all attributes to reveal what drives value. These include brand, manufacturer, form, packaging, flavors, scents, nutrition facts, and drug facts. Product attribute insights can help e-commerce marketing professionals detect competitor activity, including the launch of new items.
Because Line Item tracks hundreds of items in each product category, the performance analytics platform can help keep tabs on new products, brands and competitors. Line Item reveals items that are newly trending, enabling a robust view of the competitive landscape.
Line Item can also help e-commerce marketers better understand and optimize pricing. Line Item compares unit pricing item-by-item across competitors and web sites daily as well as over a specified period for analysis. It can send pricing alerts, including MAP violations, that enable adjustments or other actions.
Ironbridge Software has deep roots in the CPG industry. Michael founded the company to provide a complete service for the CPG industry through database expertise, analytical expertise, and software capabilities. Over the last 30 years, Ironbridge has built its business on the needs of CPG and e-commerce clients, including some of the biggest Fortune 500 CPG brands in the industry.
“We’re seeing an unprecedented period in which an accelerated shift has forever altered digital buying trends. Our clients are leaning into e-commerce, and they need the key data Line Item provides. Line Item is your lifeline to more profitable e-commerce.”
