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" Another way is to use your browser's cookie management tools to manage your cookies." "persistent cookies. click by click. Over time. such as magazine or catalog subscription lists. One way is to download "opt-out cookies." No matter what they are called. if you are looking for a job on Monster.What World Privacy Forum has to say? The unhealthy kinds of cookies that track web browsing habits are called "profiling cookies. What do the marketing companies actually learn from tracking cookies? It may surprise you. The reason these cookies can create a long history of your web browsing and job searching activities is because these kinds of cookies allow companies to track your movements across many different web sites. you need to know how to say no to the third party tracking cookies while still allowing yourself to say yes to the harmless cookies. There are several ways to do this. then any advertising network that has ads at both sites knows you have been to both places. you can stop tracking through account preferences at some web sites. Tracking cookies report back to an ad network whenever you visit one of the sites in their advertising network. then it is quite possible that major online advertisers know your name and have associated it with your Internet Protocol. allowing the tracking types of cookies to follow you around as you surf the web is a lot like building a see-through house to live in. or IP address and other information. or have clicked on banners then purchased an item. Even though cookies seem quite innocent." "long term tracking cookies." Sometimes they are called "third party cookies" or simply "tracking cookies. these kinds of cookies are typically sent to your computer by advertising or marketing companies. and they can last for years or decades.com (which as of this writing deposits third party tracking cookies) and then you go look at a health web site such as MD.com. For example. Practices among the network advertisers differ. The good news is that you can manage these persistent tracking cookies to some degree. Another method is to regularly delete unwanted cookies. Companies that hold this profiling information of your web browsing habits can then sell or merge that information with many other sources of information. . If you have filled out forms online with your real name and contact information. which also deposits third party tracking cookies. Some network advertisers place tracking cookies on areas where you fill out forms about medical conditions or post a resume." or "third party tracking cookies. This can be a real problem over time. some focus on cars or sports information. To do this. or if you have filled out sweepstakes or contests forms. your browsing habits can reveal a good bit of information about you. In some cases.
and online interactions. Cross-selling. and thereby win important pricing and distribution concessions from consumer product goods companies. as a consumer approaches an apparel store.com employs collaborative filtering to generate “you might also want” prompts for each product bought or visited. stores. including the customer’s demographics. It targets consumers who are close to stores or already in them.Data Capturing Today. and other facts to increase the average purchase size. Ebay reported that 30 percent of sales were due to its recommendation engine. For instance. Ebay’s detailed and cost-efficient customer tracking gives the retailer the ability to mine petabytes of data on customer preferences and buying behavior. State-of-the-art cross-selling uses all the data that can be known about a customer. purchase history. ebay. The widespread use of increasingly granular customer data can enable retailers to improve the effectiveness of their marketing and merchandising. . Location-based marketing relies on the growing adoption of smartphones and other personal location data-enabled mobile devices. preferences. real-time locations. Retailers across the industry are becoming more sophisticated in slicing and dicing big data they collect from multiple sales channels. Marketing 1. that store may send a 2. leading players are mining customer data to inform decisions they make about managing their supply chain to merchandising and pricing. Location-based marketing. Big data levers applied to operations and supply chains will continue to reduce costs and increasingly create new competitive advantages and strategies for growing retailers’ revenue. At one point. catalogs. For example.
shifted private-label brands from 10 percent of the product mix to 14 percent.. or perusing a catalog. and achieved a 3 percent earnings boost as well as a 2 percent increase in sales. 6. Neiman Marcus. has integrated customer databases with information on some 60 million households. shopping cart transponders. rather than simply segmentation.g. and the company is able to create different versions of its catalogs attuned to the behavior and preferences of different groups of customers. housing values. Merchandising 1. and this combination has led to substantially more purchases of higher margin products from its most affluent. market and competitive analysis. A variety of tools has emerged for the real-time monitoring and response to Web-based consumer behavior and choices.special offer on a sweater to the customer’s smartphone. Although this is a familiar idea in retail. 4. A variety of . retailers can use sentiment analysis to gauge the real-time response to marketing campaigns and adjust course accordingly. and other big data—so-called assortment optimization—can increase sales materially. Nearly 50 percent of smartphone owners use or plan to use their phones for mobile shopping. Williams-Sonoma. and number of children. Price optimization. Analyzing data on in-store behavior can help improve store layout. used consumer research. and loyalty. product mix. for example. buyer perception. tracking such things as their income. Retailers can now update this increasingly granular data in near real time to adjust to customer changes. drawing real-time location data from smartphone applications (e. It reduced its overall stock-keeping unit (SKU) count by 17 percent. Enhancing the multichannel experience for consumers can be a powerful driver of sales. Enhancing the multichannel consumer experience. 5. Targeted e-mails based on this information obtain ten to 18 times the response rate of e-mails that are not targeted. or passively monitoring the location of mobile phones within a retail environment. The evolving field of social media data analysis plays a key role because consumers are relying increasingly on peer sentiment and recommendations to make purchasing decisions. The next marketing-related big data lever is customer microsegmentation. The amount of data available for segmentation has exploded. and detailed economic modeling to identify the causes of its flat and declining growth at the category level.g. One leading drug retailer. In addition to using traditional market-research data and data on historical purchases. for example.. footpath and time spent in different parts of a store).63 3. In-store behavior analysis. 2. Customer micro-segmentation. a high-end retailer. customer satisfaction. Retailers can use big data to integrate promotions and pricing for shoppers seamlessly. For example. higher-margin customers. whether those consumers are online. and shelf positioning. retailers can now track and leverage data on the behavior of individual customers—including clickstream data from the Web. Some retailers use sophisticated image-analysis software connected to their video-surveillance cameras to track in-store traffic patterns and consumer behavior. Retailers today can take advantage of the increasing granularity of data on pricing and sales and use higher levels of analytical horsepower to take pricing optimization to a new level. big data has enabled tremendous innovation in recent years. Deciding which products to carry in which stores based on local demographics. Sentiment analysis. and the increasing sophistication in analytic tools has enabled the division into ever more granular micro-segments—to the point at which some retailers can claim to be engaged in personalization. Sentiment analysis leverages the voluminous streams of data generated by consumers in the various forms of social media to help inform a variety of business decisions. Recent innovations have enabled retailers to track customers’ shopping patterns (e. Shopkick). The startup PlaceCast claims that more than 50 percent of its users have made a purchase as a result of such location-based ads. has developed both behavioral segmentation and a multi-tier membership reward program. Assortment optimization. in-store.
Retailers can look at cashiers for accuracy and transactions per hour and at the quality of customer service based on the percentage of customer issues solved with a single call. clicks. Brick-and-mortar retailers can also gain substantially by optimizing the placement of goods and visual designs (e. and granular reporting allows managers to make concrete adjustments in their operations in a much more timely manner. customer complaints. especially during peak periods. these systems are moving ever closer to real time. and sales per employee. i. the trend toward much higher frequency. Online retailers can adjust Web site placements based on data on page interaction such as scrolling. so that overcapacity can be avoided.data sources can be used to assess and inform pricing decisions in near real time.. a more local version of the kinds of optimization that take advantage of foot-traffic data. Retailers can use the resulting data to analyze promotion events and evaluate sources of sales lift and any underlying costs that these might entail. Today.e. shelves) by mining sales data at the SKU level—in essence. 2. employing this lever is well worthwhile. One food retailer examines pricing elasticity among its customers for different categories.g. and satisfaction surveys. Labor inputs optimization. Placement and design optimization. Operations 1. including markdown pricing and scheduling.. and improved labor scheduling. Rural food consumers. eBay has conducted thousands of experiments with different aspects of its Web site to determine optimal layout and other features from navigation to the size of its photos. tend to rank cereals and candy higher among their priorities. automated time and attendance tracking. there is still headroom to gain value using this lever. and mouse-overs. Although the industry already widely uses performance reporting at a basic level. immediacy. Retailers can now run daily analyses of performance that they can aggregate and report by store sales. for instance. Urban consumers. For instance. meanwhile. see butter and rice as a higher buying priority and therefore these products are perhaps less price elastic than they would be for urban shoppers. SKU sales. Because store labor represents approximately 30 percent of the average retailer’s fixed costs. Complex demandelasticity models examine historical sales data to derive insights into pricing at the SKU level. Another operational lever that can create value through reducing costs while maintaining service levels is around the optimization of labor inputs. 3. This lever can create more accurate predictions of staffing needs. . end caps. Performance transparency.