Must-Have Knowledge for Today’s E-Commerce Business
Almost everything can be bought through e-commerce in present times, which makes this industry highly competitive. After reaching $16.6 trillion in 2022, the size of the global e-commerce market is expected to hit $70.9 trillion by 2028.
So, in order to survive and thrive in the digital age, E-Commerce businesses need to have the know-how of market trends, competitors’ strategies, and consumer sentiments. One approach to acquiring such knowledge is to leverage the web scraping technique, which is known for collecting huge amounts of data from various sources.
This post will cover web scraping, in addition to highlighting the benefits of scraped data and the common business use cases of data scraping.
Understanding web scraping
Web scraping is a process of gathering and organizing web data for further processing and analysis. E-commerce businesses use this data to generate valuable insights and make smart decisions. While this process can be performed manually, companies utilize specialized tools to navigate online sources, like websites, articles, forums, and social media platforms, and collect data.
It begins with taking a specific link to scrape data from and retrieving underlying HTML code and content. The collected data is then transformed into a format, such as JSON or CSV, for further visualization.
Why collect data with web scraping
When executed effectively, web scraping can bring several benefits to those using it. This process allows for the efficient collection of huge amounts of web data, which can save time and resources as compared to manual data collection. It enables users to parse data and decode the latest market trends in double quick time.
With data scraping, there is no need to purchase data from third-party vendors, which can be costly and difficult to customize at the same time. The technique necessitates only a one-time investment for data extraction.
Customization is another benefit of data scraping allowing users to customize data collection as per their specific needs. Other benefits of leveraging web scraping within businesses include data accuracy, good data management, and minimal maintenance over time.
Main use cases of web scraping
Data scraping has proven to be successful in helping businesses in making well-informed choices, Following are the primary use cases of web scraping:
Clearly, market research is necessary when developing a marketing plan. Web scraping provides marketers with meaningful data for finding industry trends, research and development, price intelligence, and competitor monitoring to create an edge in the market. Businesses can leverage data scraping to monitor price trends to get a better idea of what their competitors do.
Modern businesses must be informed about their competitors to maintain market leadership. Web scraping services provide companies with competitor data related to their marketing strategies, product lines, customer reviews, and so on. In all, e-commerce web scraping helps businesses make responses to a new product launch, find potential customers, anticipate industry trends, and stay competitive.
Search engine optimization (SEO)
In present times, almost every business wants to land on the very first page of the search engine. Through web scraping, businesses can collect search results to look for the keywords used by websites whose pages are ranking higher on the search engine results pages (SERPs). This helps them tactfully incorporate those keywords into their web content and drive their ranking and traffic.
Additionally, when comparing the digital footprint of different businesses for SEO reasons, data scraping can be useful in determining the number of backlinks a business has and other related statistics.
Businesses need to generate leads in order to succeed. Web scraping allows brands to obtain more data in a short time and use it to form an extensive customer base. E-commerce businesses can use scraping solutions to acquire useful data and reach out to potential customers.
Furthermore, recruiting companies can study the profiles of their competitors on different platforms and learn what their competitors are looking for. This process also helps sales representatives draw leads and find marketing and sales solutions.
Pricing optimization & monitoring
Monitoring prices across various sectors is crucial for businesses to make sure their competitors are not in the lead. This is possible through price tracking and optimization that allows companies to see the best rates and fine-tune their strategies to retain customers and generate revenue.
E-commerce web scraping aids companies in scraping the prices set by competitors on the same items and coming up with the best rate for them post-analysis. They can use scraping solutions to keep tabs on product trends and optimize sales accordingly.
E-commerce is an evolving sector that demands businesses to stay ahead to gain success. With e-commerce web scraping, these businesses can get access to meaningful web data and use it for a number of purposes, including market research, price intelligence, lead generation, and brand monitoring.