E-commerce offers many ways that retailers can reach consumers and conduct business without the need for a brick-and-mortar storefront. Online retailers can increase their sales and profits faster than a brick and mortar establishment because selling online offers the advantage of being open twenty-four hours a day, seven days a week. Selling online also allows retailers to sell their merchandise in any part of the world without additional expenses.
Key Findings of The State Of Retailing Online 2019 Survey:
- Conversion rate is ranked as the most primary metric that online retailers track to measure their personalization initiatives and success with a rate of 49%.
- The inability of tracking the targeted customers through their entire journey is ranked as the top challenge of implementing and evolving personalization strategies and tactics with a rate of 42%.
- The personalized recommendation in emails or other communication to shoppers based on explicit or inferred data is ranked as the most implemented tactic in surveyed retailers strategies with a rate of 67%.
- Social marketing (excluding YouTube) is ranked as the most marketing tactic that surveyed online retailers mentioned that they are planning to spend on it in 2019 more than in 2018 with a rate of 55%.
A Graph Shows The Top Three Metrics That Online Retailers Track to Measure Their Personalization Initiatives and Their Success, 2019.
What’s in “The State of Retailing Online 2019 Omni-Channel, Marketing & Personalization” Report:
- Retailers report mixed performance in stores and online.
- There is no retail apocalypse, but challenges abound for retailers.
- Omnichannel is still a work in progress.
- The digital marketing landscape for retail finally looks different.
- Retailers face challenges with personalization.
- Retailers must enhance omnichannel and personalization programs.
- Supplemental material.
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“The State Of Retailing Online” is an annual survey conducted by the National Retail Federation (NRF). The survey examines retailer and digital business professional attitudes and focuses areas for critical digital commerce issues. Some notable additions to this year’s survey are several questions related to omnichannel fulfillment and personalization. NRF conducted this survey for the 2019 study in Q4 2018 and received 69 complete and partial responses from retailers. Split between pure plays and store-based merchants. Fifty-five percent of survey respondents were employees of traditional brick-and-mortar retailers with web divisions or branded manufacturers with largely wholesale businesses. Another 45% were pure plays or online retailers.