A new survey of over 300 brand marketers show three-quarters of them feel Amazon has an unfair “data” advantage, with 86 percent stating they would benefit from understanding competitors’ search, path-to-purchase, and purchase data on Amazon.
Jumpshot conducted the study and concludes that brands are worried that Amazon is using data to launch private labels that compete with them.
“We’re constantly hearing from marketers that they lack critical insights into their customers once they leave their website and start shopping in eCommerce marketplaces,” said Deren Baker, CEO of Jumpshot. “This survey shows that marketers are eager for more and better data to help compete for online sales, especially in an online ecosystem with multiple marketplace choices, dominance of Amazon and emerging private labels.”
In spite of benefits of selling on ecommerce marketplaces, 83% of respondents have concerns that include:
– an inconsistent view of customer behavior across all ecommerce marketplaces;
– lack of insights into detailed buying behaviors;
– and additional and biased competition because of private labels.
Marketers evenly split on the impact of this deficit: 50 percent are hesitant to invest in marketplaces because of lack of insights into customer buying behaviors.
Jumpshot said brand marketers find insights particularly important for understanding lost sales and new revenue opportunities: 67 percent indicate the most important area for gaining insights into path-to-purchase behaviors is understanding where sales are being lost.