Guest blog post by Janessa Mangone from Social Annex
An assessment of the 100 top performing online retailers by Deloitte, “4th Annual eCommerce Assessment: digital retail leaders at the tipping point” names new technological advancements and trends that impact online retailers. The Digital Darwinism infographic shows some of these capabilities:
Tablets have started to overtake laptop web traffic, so online retailers need to have mobile and tablet ready sites or face losing customers that bounce after poor site experience. 71% of smartphone owners have used their device to make an online purchase. In 2012 alone, mobile commerce sales increased by a whopping 81%. Social media usage has also hit critical mass; 27% of shoppers discovered brands through social media. Most IR Top 1000 online retailers cater to shoppers that use social media, tablet, and mobile.
On the Verge
Personalized cross-sell, up-sell recommendations and on-site offers drove the majority of the increase in conversion rates that 65% of eCommerce sites saw in 2011. 39% of shoppers said they purchased more from retailers that present personalized product recommendations based on their on-site browsing. Online retailers launch more effective new campaigns with dynamic, selectable promotional capabilities instead of custom coding each promotion.
The Next Wave
Online retailers need to adapt rapidly to the latest changes. The power to configure capabilities and new sites are key business focuses to increase revenues. 54% of online retailers said they cannot launch additional branded sites without purchasing additional licenses.
In addition, flexible data management is needed tailor relevant content to customers since content driven commerce grows 2x as fast. As actionable data leads online retailers to more relevant and micro-targeted content and product curation, dynamic categorization is a vital requirement for online retailers to respond to new market opportunities.