Leading Vendors report says will invest more in technology in 2023

The pandemic thrust many retailers into ecommerce — and customers turned 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 consists of survey information and case research demonstrating how technology helps retailers.
According to Digital Commerce 360’s Digital Technology survey, carried out 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 relatively than try to construct a tech stack in home.
What technology is vital for retailers?
Online retailers are prioritizing which applied sciences will have probably the most impression. They need to automate the place attainable and discover ways to decipher and use information to their benefit. That requires funding. Three in 4 retailers anticipate to extend spending by 15% or much less. Meanwhile, 39% predict they will spend 10.1% to fifteen% more.
When requested to slim down their prime priorities, practically half (46%) stated 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 have to be straightforward 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 success methods. Digital penetration is about 35% of your complete enterprise, says Shirley Gao, chief info officer. By deploying numerous applied sciences, PacSun is determining reduce prices whereas offering the quick transport turnaround clients anticipate.
It’s vital to more than half (54%) of outlets that any new software program is straightforward to implement in addition to use. Learn how Jen Partin, Hickory Farms’ senior advertising and marketing supervisor, e mail and SMS, makes use of e mail software program to automate and accumulate information 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 reduce bounce charges. Bounce charges practically 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 get observed,” Partin says.
Retailers need to automate the place attainable. Learn how technology permits retailers of all sizes to unlock personnel to deal with more sophisticated duties.

Case research and interviews with retailers
Survey information indicating what elements are most vital to retailers when investing in technology
In-depth appears to be like at internet advertising and advertising and marketing, social media, e 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 studies and sure on-line retailer databases. Learn more right here.
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