Transforming businesses with e-commerce intelligence

2020 had been an extraordinary year as the Covid-19 pandemic struck almost all countries in the world and created an extraordinary impact on businesses worldwide. Singapore and many other Southeast Asian countries were not spared and had to implement lockdowns swiftly. To cope with physical store closures and the increased volume of online transactions, most businesses tried to revamp their business models and set up online stores to capitalise on the rise of the e-commerce wave. With the growing trend of online transactions, it has become imperative for companies operating in the Fast Moving Consumer Goods (FMCG) industry to track the performance of their brands on the various online platforms. This need has led to the emergence of E-Commerce Intelligence (EI)–a new category of software that enables brand managers to keep track of their stocks and sales in the online space. Over the past year, many start-ups offering data analytics and EI services have emerged and caught the attention of investors and venture capitalists, who are injecting funds to further fuel growth in this sector.