Get this… 67% of Millennials and 56% of Generation X prefer to shop online rather than in-store. Each combining to make up a big portion of the U.S. ecommerce market.[*] The problem is, however, that these are all just a bunch of big numbers. Unless you truly understand how to break these numbers down, identify a target market segment, analyze the market opportunity, and sell your product directly to a willing customer, you’ll find yourself continuing to wonder how to get in on the action.

Yourself continuing to wonder

That’s where ecommerce market research is crucial. WHAT IS ECOMMERCE MARKET RESEARCH? There are hundreds of definitions out there for what market Saudi Arabia Phone Number research really is, and how it can help your online business. But market research doesn’t have to be complicated. At the end of the day, it’s all about discovering exactly what your customers want from you. More technically speaking, Shopify defines market research as consisting of “systematically gathering data about people or companies.

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At the end of the day

A market — and then analyzing it to better understand what that group of people needs.”[*] In other words: Market research gives you both a qualitative and quantitative understanding of why your ideal customers would want to buy your products. Screenshot showing what market research consists of The great thing about market research is that it mixes science with intuition. Your gut might be telling you one thing, but the data is telling you something different.

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