Overview of the Beverage Industry
The global beverage industry comprises of companies that market alcoholic and non-alcoholic drinks. Both these segments within the industry are subjugated by several sizeable market players due to which the competition among them is intense. The growing competition in the beverage industry is also forcing market leaders to boost their online presence to attract customers and drive ROI by keeping abreast of the trends.
The beverage industry is complex and poses several challenges for players in terms of volatile commodity costs and changing customer preferences. Due to such factors, implementing good cost control measures and boosting operating efficiency are becoming essential to gain a stronger foothold in this market segment.
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Beverage Industry Trends
- Establishing a Good Online Presence: While several market leaders have already developed a unique online presence, players in the beverage industry are still in the process of carving out their unique stance to reach out to a wider audience base. However, beverage companies can either venture into this themselves or partner with online distributors who can help them do so.
- Complying with Regional Regulations: Regional regulations are by far the most disruptive beverage industry trends, especially for those operating in the wine and alcoholic beverages segment. Beverage companies are not only required to follow federal laws but must also comply with the state laws associated with beverage manufacturing. Moreover, the other major concern revolves around taxation which again varies based on the region of operation. Therefore, this makes it necessary for the beverage industry players to keep a close watch on the beverage industry trends to make necessary adjustments in their business processes.
Owing to the diversity in consumer preferences and growing competition in the market the client was looking at improving sales and website performance through a measured approach, which involved a thorough understanding of the industry trends. To establish this process, the beverage industry firm realized the need for implementing web analytics to enhance their ROI.
The solutions offered by our web analytics experts at Quantzig helped the beverage company to identify key beverage industry trends and web analytics metrics to optimize web usage and drive significant results in the form of improvements in profit margins. During the course of this web analytics engagement, the client was able to uncover the underlying reasons behind poor conversion rates and their impact on key web analytics metrics.
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Insights on Web Analytics Metrics
Web performance is a key differentiator, which helps drive web traffic that subsequently increases your business’ ROI. Hence, identifying and focusing on the key web analytics metric is essential to drive growth. It helps brands reach out to the global audience and cater to a wider audience base. Measuring the performance of the key web analytics metrics is essential to gaining a detailed understanding of the visitor’s experience – this is only possible by combining analytical data with behavioral information and analyzing the latest industry trends.