Market research
Mapping competitors
Flipkart India launched ‘awareness index’ for the businesses
Independent business owners find it difficult to compare their products and services with the big and small competitors in the industry. Proprietary data is expensive or does not exist. Thanks to Flipkart, small businesses can find out about their competitors.
Flipkart’s brand pulse allows to gain insights about shopping trends from its e-commerce businesses. It provides and awareness index from the real time actions of the 25crore users of Flipkart. The index also tells the movement of index week over week. I compared the industry leader Nescafe Sunrise with Continental Coffee, a local coffee business of Bengaluru and Blue Tokai Roasters. Continental’s awareness index was only 20 points lower than Nescafe.
As per Flipkart it calculates the index on four parameters:
- Keyword searches
- Content clicks
- Specific brand filters
- Product page views
Knowing industry benchmarks will help small businesses. For example, knowing that a local coffee brand could challenge the industry leader, would be impossible without such data. It also helps businesses target its audience with better products, which big brands do not care such as undergarments.
