Companies struggling to understand what does and doesn’t work in ecommerce can benefit from a new service aiming to demystify the area.
eBrand Ranking, developed by MySupermarket in conjunction with Kantar Consulting, scores brands out of 100 using an algorithm that measures how factors such as availability and promotional activity correlate with sales. The resulting score allows brands to compare their ecommerce success with that of their competitors.
Introducing the service at The Grocer Conference in London on Tuesday, MySupermarket Business Solutions MD Viv Craske said: “It’s essentially one number to track your brand versus the category. So let’s say, hypothetically, Persil has a perfect score of 100 and Surf is at 78. What you get is to go to your leadership team with one clear number to track against the category.”
With almost no one “really knowing what they’re doing” in ecommerce, according to Craske, so long as your score is “slightly better than competitors”, you are doing OK. “The service can help brands achieve clarity in terms of performance by providing a score with which they can compare themselves to rivals.”