Market Trends of Web Analytics Industry In Retail And CPG
Search Engine Optimization and Ranking Sector Significantly Driving the Market Growth
- The increase in SEO and ranking efforts significantly propels the demand for web analytics in the retail and consumer packaged goods (CPG) sectors. Companies invest in SEO to improve search engine rankings and increase organic website traffic. Web analytics tools are crucial for measuring the effectiveness of these SEO efforts. Companies can assess how well their SEO strategies are working and make necessary adjustments by analyzing data such as page views, bounce rates, and conversion rates.
- In addition, higher SEO rankings lead to increased website traffic. Web analytics provide detailed insights into how these visitors interact with the site, which pages they visit, how long they stay, and where they drop off. Understanding this behavior helps retail and CPG companies refine their website content, layout, and user experience to meet consumer needs better and increase engagement.
- In January 2024, Ahrefs announced Rank Tracker's Overview 2.0 and a new feature in Site Explorer, allowing users to filter by "best links." This enhancement empowers users to pinpoint what Ahrefs deems "good" links. The filter is based on a predefined group of parameters, which contains referring domains with a DR of at least 30, traffic of 500 or more, and so on.
- Web analytics can provide insights into competitors' SEO performance by analyzing search engine rankings, keyword strategies, and traffic patterns. Retail and CPG companies can use this information to benchmark their performance against competitors and recognize opportunities for improvement. As more retailers move online, the competition for visibility in search engine results intensifies. This drives demand for sophisticated SEO tools to gain a competitive edge.
- The continuous growth of e-commerce necessitates robust SEO strategies to attract and retain customers. Effective SEO can significantly enhance a retailer's online presence and drive sales. In 2023, as AMI reported, Asia dominated the global e-commerce landscape, surpassing a staggering USD 1.8 trillion in transaction volume.
Understand The Key Trends Shaping This Market
Download PDF
Asia Pacific to Witness Significant Market Share
- Many countries in the APAC region are experiencing fast-paced digitalization. Businesses are increasingly adopting online platforms, necessitating web analytics to understand and enhance their online presence. The e-commerce market in APAC is booming, with countries like China, India, and Southeast Asia showing significant growth. Retailers and CPG companies leverage web analytics to optimize their e-commerce strategies, improve user experience, and drive sales.
- According to EBANX, in 2023, India boasted a digital buyer base exceeding 345 million. Projections indicate that this figure will surge, surpassing 400 million by 2027. Additionally, in July 2023, Ultra-low-cost e-commerce platform Temu, owned by PDD Holdings, started selling to Japan, marking its first foray into the regional market. Additionally, the sister site of the Chinese discount e-commerce platform Pinduoduo ships a significant range of products, from electronics and clothing to home goods primarily sourced from Chinese merchants to international customers, all at highly competitive prices. Such expansion in the e-commerce sector in the region may further propel the studied market growth.
- Moreover, the market studied is witnessing key players' mergers, acquisitions, and investments as part of its strategy to improve business and their presence to reach customers and meet their requirements for various applications. For instance, in April 2024, Cognizant, a company that offers digital solutions, technology consulting, and IT services to multiple industries, announced a partnership with Shopify and Google to assist brands and retailers in enhancing their online stores. This collaboration integrates Shopify's online selling platform with Google Cloud's system, utilizing the expertise of Cognizant's retail technology specialists.
- There is a growing adoption of advanced technologies such as machine learning (ML), AI, and big data analytics. These technologies enhance web analytics capabilities, providing deeper insights into consumer behavior and market trends. Also, various governments in the APAC region are promoting digital economy initiatives. Policies supporting digital infrastructure and innovation encourage businesses to invest in web analytics.
- In August 2023, the Ministry of Electronics and Information Technology (MeitY) announced the launch of the 'Digital India' initiative. The program aims to propel India towards a digitally empowered society and a knowledge-based economy. It focuses on ensuring digital access, inclusion, and empowerment, with a critical goal of bridging the digital divide.
- Furthermore, social media's influence in the APAC region is substantial. Web analytics tools measure the impact of social media campaigns, track influencer performance, and understand social media-driven traffic and conversions. According to GSMA, Chinese citizens displayed a solid online presence, having approximately 1.06 billion social media user accounts as of January 2024. India and Indonesia, the second and third-ranking countries for social media, had 462 and 139 million social media user accounts, respectively.
Get Analysis on Important Geographic Markets
Download PDF
