NEW YORK, Feb. 22, 2017 /PRNewswire/ -- Ugam, a global leader in managed analytics, today announced the release of a new report, Analyzing the Online Presence of Skincare Brands. The report shares the results of Ugam's analysis of several prestigious beauty brands and provides data-driven insights that brands can use to continuously assess and improve their digital shelf.
The percentage of U.S. beauty sales that happen online is at 10 percent and rising. This increasing reliance on digital sales channels means that cosmetics brands need to continuously assess and optimize the way their products are presented online in order to preserve market share and drive growth.
To illustrate effective methods of approaching this challenge, Ugam analyzed the digital shelf of nine prestigious brands across specific online retailers. The report captures the results and demonstrates how cosmetics brands can use analytics to:
- Check product availability across retailers: Monitor online retailers and assess how their products are stocked versus the competition.
- Gain insights into competitive online activity: Leverage online data to assess the size, color and style variants they offer online compared to the competition.
- Identify trending products: Identify their top-trending products within a category and determine whether they are available for purchase across key online retail partners.
- Monitor online prices: Track prices across online retailers, check if they are in line with expectations, monitor promotions, check for 'Minimum Advertised Price' compliance, and see how competitors price their products.
- Measure the share of reviews across online channels: Gain visibility into how their products are reviewed, including the most and least reviewed products, the top rated products and how they compare against competitors.
- Measure online reach across countries: Get a global perspective of their online portfolio and better understand their products' visibility across websites in different countries.
"Consumers' increasing reliance on digital product information means that brands need to keep a very close eye on the way their products are presented online," said Mihir Kittur, co-founder and chief innovation officer at Ugam. "This report demonstrates practical data-driven insights that skincare brands can use to better understand how their products are reviewed, measure their global reach, monitor the competition and much more. Brands across multiple industries can use this type of intelligence to help plan how they stock retailers, price their products and ultimately drive growth."
Click here to download Analyzing the Online Presence of Skincare Brands
Ugam is a global leader in managed analytics that helps retailers, brands and market research firms transform big data into valuable insights. The company's unique managed services offering combines a proprietary big data technology platform with deep domain knowledge and analytics expertise to empower clients to make decisions that improve their business. For retailers, online marketplaces and brands, Ugam supports better merchandising, marketing and channel management decisions through the use of analytics. For market research firms and insight-based consultancies, Ugam offers a portfolio of solutions including end-to-end research operations, technology transitioning support, and data warehousing, visualization and reporting that enables them to better serve their clients. Five of the top 10 U.S. retailers, many of the world's largest brands and online marketplaces, and 13 of the top 25 market research firms work with Ugam because of its ability to deliver high-quality insights with unmatched customer experience. www.ugamsolutions.com.
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