The pandemic thrust many retailers into ecommerce — and buyers grew to become comfy procuring on-line. Retailers at the moment are taking a step again to reassess what applied sciences will assist retain present clients and entice new ones. Digital Commerce 360’s 2023 Leading Vendors Report contains survey knowledge and case research demonstrating how technology helps retailers.
According to Digital Commerce 360’s Digital Technology survey, performed from September to October 2022, three-quarters of surveyed retailers (76%) plan to extend their funding in technology to draw new and retain loyal clients in 2023.
The subsequent query retailers must ask themselves is whether or not to outsource technology or construct it themselves. According to the survey, 70% plan to outsource the duty slightly than try and construct a tech stack in home.
What technology is essential for retailers?
Online retailers are prioritizing which applied sciences will have probably the most influence. They need to automate the place doable and learn to decipher and use knowledge to their benefit. That requires funding. Three in 4 retailers count on to extend spending by 15% or much less. Meanwhile, 39% predict they will spend 10.1% to fifteen% more.
When requested to slender down their high priorities, almost half (46%) mentioned investing in an ecommerce platform topped their listing. Other priorities included buyer relationship administration technology (34%), on-line advertising and marketing (30%), and 27% cited content material administration and customer support software program, respectively.
Technology should be simple to implement and use
Learn how PacSun is retrofitting its 15-year-old legacy enterprise software program with up to date technology to hyperlink its on-line and in-store buyer journeys in addition to replace its transport and achievement methods. Digital penetration is about 35% of the complete enterprise, says Shirley Gao, chief data officer. By deploying varied applied sciences, PacSun is determining the best way to minimize prices whereas offering the quick transport turnaround clients count on.
It’s essential to more than half (54%) of shops that any new software program is simple to implement in addition to use. Learn how Jen Partin, Hickory Farms’ senior advertising and marketing supervisor, electronic mail and SMS, makes use of electronic mail software program to automate and acquire knowledge on open charges. Hickory Farms’ internet gross sales elevated 59% in 2021 in contrast with pre-pandemic 2019. To capitalize on its newly acquired clients, Hickory Farms invested in software program to attenuate bounce charges. Bounce charges almost tripled main as much as the vacations — its busiest time of yr — in 2021.
“You’re combating for room in the inbox and sending 4 emails a day — and it’s Dec. 12. You want to determine the best way to get observed,” Partin says.
Retailers need to automate the place doable. Learn how technology permits retailers of all sizes to unlock personnel to deal with more sophisticated duties.
Case research and interviews with retailers
Survey knowledge indicating what elements are most essential to retailers when investing in technology
In-depth seems at internet advertising and advertising and marketing, social media, electronic mail, omnichannel, fraud and internet online affiliate marketing methods
The 2023 Leading Vendors Report is on the market as a downloadable PDF for $399. It can also be included in our Gold and Platinum memberships, which offer full entry to all of Digital Commerce 360’s printed reviews and sure on-line retailer databases. Learn more right here.
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