Retailers have been focusing on technologies to measure and assess customer response, and have been using the data they produce to drive e-commerce decisions, suggests a study of 136 enterprise retailers at the 2017 eTail West Conference held earlier this year.
Enterprise retailers with at least US$500 million in annual revenues participated in the study, which was a joint effort of Adam Software, an Aprimo company; WBR Digital; and ChannelAdvisor.
Multichannel enterprise retailers comprised 81 percent of respondents, pure-play online retailers 11 percent, in-store-only retailers 4 percent, and other types of companies the remaining 4 percent.
Enterprise retailers have been implementing customer experience strategies across multiple channels, the researchers found. They have been seeking out intelligent data solutions to obtain a 360-degree view of customers across multiple channels and marketplaces.
“Digital retailers are likely to have reversed the classic stock focus on having goods to sell as the business model, to building a base of loyal customers they assist in buying what they need,” observed Andy Mulholland, principal analyst at Constellation Research.
“A digital retailer acts more as a personal shopper using intelligence to make every aspect of your buying activity feel right,” he told CRM Buyer.
Marketing Spending Priorities
The top four spends for retailers, according to the study, are the following:
- SEO/SEM – 79 percent of respondents;
- Online display – 77 percent;
- Social media – 65 percent; and
- Email – 64 percent.
Social media was the highest spending priority for only 3 percent of retailers and the second-highest for just 14 percent.
Social media is “rarely the leading channel in a marketing strategy,” noted Jeffery Parrish, Aprimo’s director for retail and consumer goods.
“Because many retailers are focusing marketing investment in…