[Whitepaper] The Mid-Year E-Commerce Outlook for Large Enterprises
Thanks largely to the proliferation of digital commerce channels and new-age technologies, the retail landscape is more competitive than ever. Large retailers with global footprints are under siege by smaller, more agile brands that are seizing competitive advantages wherever they can find them – from more engaging shopping experiences to smoother fulfillment.
Every year, the eTail team surveys its audience to learn about the tools and technologies they're implementing, the goals they're chasing, and the results they're seeing. Concentrating on large retailers with annual revenues above $500 million, this report analyzes how brands are seeing success with mobile, social, and site optimization.
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Marketers relied on search, email, and social media for customer acquisition.
While email and search were once again the top drivers of customer acquisition and retention, social media marketing became one of the five most important acquisition and retention drivers retailers are using. Together, these marketing programs helped brands achieve solid growth in KPIs ranging from website traffic and conversion rates to repeat purchases and average order value.
Despite gains, there is still room for improvement in mobile as a sales and marketing channel.
As a distinct purchasing channel and the central cog of omnichannel shopping, mobile is a critical asset to retailers. However, most brands can still do more with mobile to improve conversion rates, drive customer loyalty, and push offline sales.
Marketers added direct response initiatives to their brand’s social marketing.
Many brands are expanding their investment in social channels, with many of those investments aimed at increasing conversions, not just engagement. Attribution models that can more accurately track revenue coming from social will be the next step in the ascendance of social media marketing.
New features and the evolution of the digital shopping experience force retailers to rethink their websites.
Retailers are increasingly relying on media-rich, interactive website features and personalized messages to draw consumers in. Those features certainly improve the digital shopping experience, but they can also slow down the digital experience. Rich, personalized experiences are important, but they must be balanced with site performance.