Retailers are not investing enough to facilitate seamless cross-channel commerce.
As retailers face growing pressure to facilitate seamless transactions across a variety of touchpoints, they are failing to adequately equip themselves to perform. Despite the growing importance of cross-channel commerce, a new study from 1WorldSync has found that 60 percent of retailers have invested less than 20 percent of their total commerce budget on digital and mobile commerce expansion in the last year.
“In the dynamic world of digital commerce, merchants and suppliers are facing significant issues capitalizing on the opportunities within different channels and geographies. As the space has evolved, there are more regulations to comply with, more channels to be present on and more partners to trade with than ever before,” said Nihat Arkan, CEO of 1WorldSync. “Before both sides of the retail equation can truly master omnichannel commerce, they have to ensure their digital investments address their current challenges.”
For current market leaders, however, top action items to up their e-commerce game include:
“Early adopters of retail technologies that make cross-channel commerce more efficient and streamlined have become clear market leaders,” furthered Arkan. “Because of the breadth and scale of today’s e-commerce environment, managing product content while investing in infrastructure that can adapt to future market demands should be a major priority for every company in this space. The key lesson for the rest of the market is that investments in technology that centralizes data and better enables merchants and suppliers to be more connected pay off.”