Move Over Google: Adobe’s Digital Economy Index
In a recent blog, Online Shopping and Inflation 2022, Adobe’s March report caught the attention of several subscribers. For e-commerce entrepreneurs, one factoid in particular. “In 2021, 41.8% of e-commerce overall was driven by just three categories: groceries, electronics and apparel.” Visit Adobe and download their digital economy index. It’s worth the read! Plus, it’s a refreshing perspective beyond Google and Amazon’s markets. By the way, you might be asking, what’s the Adobe Digital Economy Index?
Newsflash: Google’s title of Big Brother is up for grabs. Back in 2019, Google found themselves deflecting monopoly charges. They countered by citing Adobe, Facebook and Amazon – as reported by The Drum. Maybe you think FaceBook is the top contender. For online retail sales, think again. It’s Adobe that’s bringing the heat without the guise of a social intermediary. Adobe’s data, in my opinion, is more useful.
Adobe analyses terabytes of their own data, which is practically everywhere, and they uncover powerful insights using AI and machine learning. Adobe claims to want to help us understand digital commerce trends. To be sure, Adobe’s PR machine works hard to spin their side of the data gathering story.
Methodology for Adobe’s AI & Machine Learning
Specifically, for those of us who have spent unknown hours and a small fortune playing Google’s roulette wheel of Ad scores. There will be few sympathizers. However, in Adobe’s own words, they are now the largest in class. “The Adobe Digital Economy Index offers the most comprehensive set of insights of its kind.” Again, this is based on their analysis of more than one trillion visits to U.S. retail sites. Further, it covers more than 100 million SKUs. As Adobe puts it, “more than any other technology company or research organization.” Adobe modeled their digital economy index after the U.S. Bureau of Labor Statistics Consumer Price Index.
Finally, Adobe employs the Fisher Price Index (not the same as the toy maker Fisher-Price). Using the Fisher Price Index Adobe measures MoM (month over month) and previous period (monthly) to figure price fluctuations. Specifically, through expert economic modeling, Adobe combines AI and machine learning with “manual effort” to segment the analysis. What you get is an actionable report. If you are considering increasing your online inventory let MyFulfillment Company know. They specialize in electronics, health and beauty as well as vitamins and nutritional supplements.