eCommerce and social generated a 15 – 30 percentage-point incremental share of purchases across the skincare and beauty brand categories in China.
Another key lesson?
Brands without the necessary internal data capabilities at their disposal might have made the mistake of thinking that online browsing and spending in these categories was likely to lessen during the COVID-19 crisis.
They might therefore have scaled back their digital spending, thereby missing out on an incredible brand reach and sales opportunity.
Learn H.O.W. to gain a competitive advantage through Big Data & AI
Big Data & AI improve decision-making in a time of crisis because data can give you intelligence about how consumers, markets and even governments are behaving.
Data can help you see, for instance, why and how you should make changes to your supply chain management in response to the COVID-19 crisis. Or what you need to do from a stock and replenishment optimisation and demand planning perspective.
They will also give you a clear picture about what your competitors are doing, and how they are adapting. What new trends are evolving that your brand could use to create a competitive advantage?
One problem we regularly come across is that many business leaders just don’t know where to start with Big Data & AI. Although many business leaders have introduced Big Data into their operations, very few know how to use it effectively.
Our Big Data & AI Online Capability Building webinar will help solve this problem.
This action-oriented capability building gives business leaders and their teams the practical Big Data & AI skills, tools and knowledge to create efficiencies, improve processes and maximise profit in this era of digital transformation.
In conclusion – Big Data & AI give you the ability to thrive
The ability to very quickly adapt and innovate are crucial at a time of crisis.
Big Data & AI will give you the ability to rapidly create new products and services; track and take advantage of consumer behaviours and trends; anticipate problems and spot opportunities; and see where processes can be improved or efficiencies created.
To be forewarned is to be forearmed, as the Latin proverb goes.  And when the next crisis inevitably comes along, you will need Big Data & AI within your armoury to thrive.
If you’d like to learn more about our Big Data & AI Online Capability Building webinar, please click here.
This article was written and created by the eBusiness Institute team.
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