Based on 1.9 Million Online Shopping Malls
Over 3 Years of Analysis, High Reliability
[Asia Economy Reporter Lim Chunhan] "Amid numerous customer demands, big data accurately identifies mega trends. Big data indicates that women's clothing, which has seen declining sales since COVID-19, will be in fashion next spring."
On the 22nd, Shin Minho, a consultant at the Marketing Center of global e-commerce platform Cafe24, emphasized that since customer demand characteristics vary by product category, business operators should reflect the analysis of their own product category in their strategies. He said, "Sales results can change significantly depending on what you prepare as the main product for the next season," adding, "If you only look at the overall distribution market instead of your own product category, you may perform poorly even during peak seasons." However, such situations and responses are know-how unique to each online shopping mall, making it difficult for anyone to thoroughly understand and strategize. Ultimately, this is why big data techniques analyzing large-scale online shopping malls are necessary for each product category.
The Cafe24 Marketing Center analyzes on a large scale based on approximately 1.9 million online shopping malls, so the reliability of strategies presented to each business operator is relatively high. Another feature is analyzing trends over more than three years, not just the past one or two years. Consultant Shin said, "If competing online shopping malls selling the same product category see sales increase while you alone are lagging, you need to find the cause in big data," and added, "There is no guarantee that popular products from the same period last year will work this year, so multiple years must be analyzed."
Shopping mall A, which sells accessories, increased its pure gold products starting last year after receiving consulting from Cafe24. Analyzing trends in the precious metals market and keywords entered by customers led to the conclusion that demand for pure gold products would rise, which actually resulted in increased sales. The average monthly visitors, which were in the 400,000 range last year, rose to the 700,000 range this year. Women’s clothing specialist shopping mall B was diagnosed with a lack of product diversity due to focusing on selling only specific clothing items. After reanalyzing market trends, they increased the variety of products and simultaneously ran sales events. As a result, sales in the first half of this year increased by 150% compared to the same period last year.
Big data marketing consulting is even more important for novice entrepreneurs. A first-year startup only has about one year of data, but by utilizing big data, they can leverage decades of know-how. In the same context, online shopping malls that want to change or add product categories also need the help of big data. Consultant Shin said, "Due to the nature of online shopping malls, where it is difficult to directly face customers, reliance on big data will continue to increase."
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