A new measurement standard, called ‘GEMS’ has won the backing of a number of European countries, in a move that could help online retailers and advertisers better understand how shoppers are using their sites, and compare their results with industry benchmarks.
GEMS stands for Global E-commerce Measurement Standard GEMS, and is nowsupported by industry associations representing 75% of European e-commerce.
Ther standard was created by a number of key industry players, including the iMRG, and was launched this at the e-Business Strategy Europe conference: www.eBizEU.eu
In 2010, business-to-consumer (B2C) e-commerce is estimated to be worth €550 billion worldwide and €200 billion in Europe.
James Roper, CEO of IMRG and one of the architects of the scheme, comments: “The only accurate way to monitor the dynamic e-commerce market is to measure actual trade. Until now there has been no cross comparable standard for countries to measure e-retail sales – local analysts and associations have adopted standards including or excluding retail sectors, transaction types and channels as they saw fit; typically serving the interests of an established community with a self-serving bias, such as physical store retailers, catalogue retailers, or ‘pure play etailers’.
“The new GEMS standard gives us detailed national and international insight into how the e-commerce distance selling sector is developing.”
E-commerce is particuarly critical for retailers who need the best available intelligence to support their business decisions and help target investment which is continually needed to remain competitive online.
Participation in an industry association e-sales index scheme gives retailers access to new data and business-critical intelligence.
GEMS is to be governed by the newly formed global B2C E-commerce measurement standards Council which will be comprised of: the European Commision, EMOTA, BVH, FEVAD, IMRG, and BeCommenrce.
This council will control, develop and evolve GEMS and associated measurement mechanisms in light of changing market and environmental needs. GEMS will be expanded to include other sectors and sales channels in due course.