More than four out of every five marketers lack insights into purchase behaviors across e-commerce marketplaces, according to a Jumpshot study. The survey of more than 300 marketers found that the lack of insight into customer behavioral data led 50% to be hesitant to invest in marketplaces.
The study, which was aimed at uncovering the importance of data insights within e-commerce, found that 84% of respondents felt they lacked customer behavioral data that their competitors do not provide. As such, 86% of respondents said it would be beneficial to understand competitors' search and path-to-purchase, and 73% felt Amazon in particular has an unfair data advantage.
The study outlined how insights into consumer data are important for understanding lost sales and new revenue opportunities. Of all survey respondents, 67% indicated that the most important area for gaining insights into path-to-purchase behaviors was understanding where sales were being lost.
"We're constantly hearing from marketers that they lack critical insights into their customers once they leave their website and start shopping in e-commerce 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."