Three out of four in-house online shops with monthly transaction amounts exceeding 100 million won were found to look directly at customer and sales data. Shops that keep an eye on data also had higher sales growth rates than those that do not.
The e-commerce solution firm Cafe24(042000) said on the 6th that an analysis of usage of its own data analytics service, “Cafe24 Analytics,” showed these results. It analyzed in-house shops with won transactions in the past 30 days by dividing them into four bands based on monthly transaction amount. The share of shops that directly checked data was only 26.2% in the 1 million–10 million won band, but rose as scale increased to 41.2% in 10 million–50 million won, 56.3% in 50 million–100 million won, and reached 73.4% in the 100 million won or more band.
The frequency of looking at data also varied by scale. Small shops checked data an average of 6.1 days per month, but shops with 100 million won or more did so 11.9 days, or about once every two and a half days. The number of analytics screens viewed was also about twice as many, from 20.7 to 41.
Whether data is used also led to differences in growth rates. Comparing within the same transaction amount bands, in-house shops that viewed data had an average year-over-year transaction amount growth rate 4 percentage points higher than those that did not. By band, the gap was largest at 5.6 percentage points in the 1 million–10 million won band, followed by 5.2 percentage points in 50 million–100 million won and 4.7 percentage points in 10 million–50 million won. However, in the 100 million won or more band, the gap narrowed significantly to 0.6 percentage points. The median transaction amount was also 4.3%–35.8% higher for data-checking shops across all bands.
Unlike open markets, in-house shops are seen as having the advantage that sellers can directly secure customer information and purchase data. Lee Jae-seok, CEO of Cafe24, said, “The data accumulated in in-house shops is an important asset that supports business operations and growth.”
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