Created my martech firm Emarsys, a new Covid-19 Commerce Insight (ccinsight) project has been launched to show how Covid-19 is affecting consumer expenditure online.
The tool, which helps assess the impact of Covid-19 on consumer confidence, draws on activity from more than a billion engagements and 400 million transactions in 120 countries, providing a global and regional picture of eCommerce activity and trends.
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Key insights from the new platform include how the pandemic is affecting the number of online consumer transactions, order numbers, the average order value, types of items purchased and more in any industry and region in the world. Moreover, the platform acts as a crowdsourcing community hub for business owners, economists, academics and policy makers to publish their own advice and insights to help others.
ccinsight is currently powered by anonymous data and technology from the leading customer engagement platform Emarsys and leading data analytics provider GoodData. Going forward, however, the team behind ccinsight is also calling for other data-driven businesses to pool resources and supply their own anonymous consumer data to help improve the platform’s predictive power.
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Hagai Hartman, founder and chief innovation officer at Emarsys said: “This pandemic is having an unprecedented effect on the global economy and consumer spending. And in the absence of hard data about consumer spending and confidence associated fear and uncertainty is self-perpetuating. We’ve launched ccinsight with the goal of putting up-to-date consumer data in the hands of business owners, economists and policy makers to help them by giving them the actionable insight they need to navigate this economic crisis.”
Roman Stanek, CEO at GoodData, which powers 50% of the Fortune 500 analytics, said: “This crisis underscores the need for data analytics on a daily basis. Now more than ever, global and local communities, businesses and governments need all available information to help us all make informed choices.”
Hartman also added: “It’s for this reason that we’re also calling upon any businesses that could help shine a light on the impact of coronavirus and inform future predictions for ecommerce. If you’re a data-driven business who is open to collaboration, please do get in touch to help improve and expand the ccinsight project.”
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