The new era of ecommerce is here - and it's being driven by consumers. Convenience is the number one priority for shoppers, and a seamless consumer experience is a standard expectation. This has created clear opportunities for retailers, but also significant challenges.
As we move into 2022, we ask are retailers ready to adapt to the new, effortless economy?
To be able to compete for every sale, retailers need to deliver Total Commerce - that's the simple concept of being present wherever your customers want to shop.
But to be able to deliver this, retailers need to not only be present in multiple shopping environments, like marketplaces and social channels, but also need to reconfigure their business operations to deliver a frictionless, convenient shopping experience across all touchpoints.
Linnworks has surveyed over one thousand retailers in the USA and UK to benchmark where online sellers are in this ecommerce transformation journey, and what they have prioritized in their business transformation strategy. Also how retailers are creating the seamless shopping journeys that consumers expect, as well as scaling and automating their backend processes to retain control of merchandising, inventory and stock management and fulfillment, while capitalizing on these growth opportunities.
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Online retailers understand the opportunity ahead of them, but are also facing a number of key challenges in transforming their operations.
- An omnichannel selling strategy is essential for growth
- 96% of respondents said the pandemic accelerated adoption of new sales channels
- Adapting back end operations to support channel expansion a priority
- 73% reported a rise in ecommerce technology investments
- Having a single view across their business for decision making is a major challenge
- 70% had difficulty leveraging data for decision making due to information siloes
- Retailers are leveraging external parties for expansion into new international markets
- over 90% leveraged 3PLs or marketplace fulfillment programs for cross-border selling
- Supply chain disruptions continue to have a significant impact on business planning and growth
- 76% said that disruptions have impacted negatively on their company sales and revenue
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