E-commerce has brought about a fundamental shift in the way consumers shop.
According to research data from Statista.com in 2016 “An estimated 1.61 billion people worldwide purchased goods online amounting to a staggering 1.9 trillion US dollars in sales”. This trend is getting stronger with a projected sales value of 4.06 trillion US dollars by the year 2020.
In an incessant contest for people’s attention, e-commerce enterprises today are coming up with innovative marketing and sales strategies to create customer experiences like never before. The cornerstone of these strategies is customer data, demographic and behavioral which is being leveraged through the use of advanced analytical tools to gain an in-depth understanding of the customer’s shopping behavior.