For brands , this pace becomes crucial since it directly impacts their sales and revenue if they don ’ t keep up with it . This is why e-commerce presence requires constant optimization and market watch . This inherent complexity is also multiplied by the volume of the assortment they handle and distribute .
Time to act on data : As most brands have now been selling online for a few years , there is a lot of solid historical data available . This data has enormous potential for them to understand , predict , and elevate their performance . This is also applicable for marketplaces and technology providers .
Growing competition : While e-commerce growth is stabilizing , it keeps attracting new entrants . Whether they are ambitious brands or traditional retail late-comers , they all hope to get a share of the giant e-commerce pie . But the size of the pie does not grow at the same speed , which aggravates the competition further .
Since Vaibhav frequently finds himself deliberating these subjects with his industry peers , he gets to see firsthand how different brand leaders respond to these implications in their ways .
And that has made him realize how the top brands , including the Fortune-500s and even the successful Digitally Native Brands ( DNBs ) do things differently to always stay one step ahead .
4 strategies followed by leading brands
1 . Leading brands look at data like GMV in the ‘ right context ’ of category
Looking at the same data differently drives vastly different discussions , strategies , actions , and outcomes . Brands usually analyze information like Gross Merchandise Value ( GMV ), Order volumes , and Inventory . The leaders go a step further to analyze this information in the context of ‘ Category ’.
So , while other brands focus on the growth in GMV and order volumes , leaders look at category growth , share and growth differential .
As an example , a certain ‘ Brand A ’ may conclude their analysis as : “ In a month , GMV grew by 20 %” taking it as a positive sign of growth in the market .
But as is visible in the graph above , a more thorough analysis in the context of category and with a competitor will reveal that “ While Brand A grew revenue by 20 %, their competitor grew by 100 %. This overall category share also increased , and Brand A was unable to grow in proportion and thus lost market share compared to its competitor . ".
This is how the context puts them extremely close to the reality of the market and in a much better position to take definite action .
2 . Leading brands make relevant data available to the right people
For most businesses , from CXOs to junior staff , everyone looks at the same data and works on the same excel sheets . Leaders , as you might have guessed by now , do things differently .
Leaders ensure that the data is made available to each team based on what actually matters to them and what questions they need answered . Vaibhav can confirm this from personal experience , that a CXO will have questions like , what is our brand or competitors ' market share , product line / category contribution , or simply about the next opportunities , all in the context of marketplaces .
Similarly , other teams may be looking at some other specific information like SKU / group performance or trailing SKU analysis . By enabling relevant data distribution , all teams enter the execution mode as soon as the data is available , giving the brand a natural edge over competitors .
3 . Leading brands break data into fast , actionable strategies
Once the data is received by teams , the next step is to make sure that it gets translated into execution . While this part may vary for businesses , Vaibhav shares that most of the leading brands break all their e-commerce order data into SKU performance , Category share and analyze it with the 4P marketing mix ( Product , Promotion , Pricing , Placement ).
They then use this analysis to derive critical action items and grow market share across different channels .
4 . Leading brands build capabilities to execute at speed
Getting the above three steps right ultimately leads to : timely execution . Vaibhav strongly believes that when growth becomes scarcer , the speed of analysis and execution is what sets the leaders apart from the rest .
Most brands follow the ‘ Post Facto Reactive Model ’ and react to the changing dynamic with quarterly insights . Leaders build strong capabilities to have near-real-time and automated data within a week ready to be executed for each team .
Clearly , market leaders are able to take a massive lead by just doing each of the above steps differently . They exemplify the importance of data-driven agility and innovation in maintaining a competitive edge .
Vaibhav has always deeply admired technology ’ s ability to level the playfield . When it comes to e-commerce , there is no dearth of examples of DNBs and startups that have secured their share of the pie competing against established businesses .
So even now in this ‘ Year of Reality Check ,’ by rethinking traditional approaches to data analysis , empowering decision-making through tailored insights , implementing targeted 4P marketing strategies , and embracing agile responsiveness , all businesses can not only defend but grow their market share . And this has been one of the key outcomes Anchanto has been pioneering in the Philippines .
Powered by a deep understanding of the market , trends , and technology developed by practical experience , the company achieved 40 % growth year-on-year for the past 4 years . Anchanto ’ s e-commerce technology suite , mainly with the products : Anchanto Digital Shelf , Order Management , and Warehouse Management have been at the forefront of this transformation for retailers and brands in the region .
With a local team under the leadership of Dennis Dejesus , Country Head of Anchanto Philippines and an office in the heart of Manila , Anchanto continues to grow both in terms of team and offerings , ready to accompany e-commerce businesses in their journey of growth .
About Anchanto
Dennis Dejesus Country Head , Anchanto Philippines
Philippines has always been one of most important markets for Anchanto , taking up an important portion of the company ' s entire customer base . Owing to the immense potential , Philippines was among the first countries for Anchanto to expand after being founded in Singapore .
Anchanto ' s Philippines office & local team were established setup in 2017 , and since then the company has grown significantly in the region . Anchanto serves renowned businesses like SM Retail , Stores Specialists Inc , Primer Group , Benby Enterprises , Rich Prime , Primeline Products , Toby ’ s Sports , Cloud Logic , Blade , and more . Supported by its local team of experts , Anchanto aims to continue working with retailers and homegrown Filipino brands to help them grow and scale operations .
32