“In today’s economic climate, it’s understandable that 39% of shoppers are prioritizing budget-friendly options for their everyday purchases. But when it comes to the holidays, our research paints a different picture — folks are ready to open their wallets,” said Salsify Research Director Dom Scarlett.
Even as the marketing landscape evolves, by leveraging a variety of tactics, SBOs have an incredible opportunity to foster loyalty and forge an even deeper understanding of the customers that matter.
By analyzing workflows and developing strategies to improve them, marketing can showcase its quantitative impact to the C-suite. It’s not going to be easy, but we’re at a moneyball moment for marketing right now. The question is, who’s going to do it first?
“Our shipping used to be reliant on a ton of manual data entry but now it’s completely automated. An order comes into Brightpearl from the seller platform and gets sent automatically to the 3PL that ships it. We don’t even have to touch it.”
In order for retailers to stay ahead of theft, they must develop efficient procedures and vetting processes for shipping their goods.
Marketing’s AI Revolution: 93% of survey participants identified AI as the leading trend that will positively transform digital marketing. AI’s innovative models and capabilities are anticipated to deliver the most positive impact on marketing.
While shifting consumer behavior serves as a significant driver, it is not the sole contributor. The rise in ORC and shoplifting exacerbates returns fraud, with stolen merchandise often finding its way back into retailers’ returns systems.
Returns have always proven to be a consistent challenge for retailers. While the issue will never completely go away, retailers can minimize returns through technology. The question lies in understanding why items are being returned in the first place.
“As e-commerce evolves, gamification emerges as a crucial strategy for success. With the sector expected to grow significantly, companies that leverage interactive and engaging tactics are well-positioned to lead the market,” writes Kenneth Tan, Co-Founder and CEO of BeLive Technology
Despite a positive financial forecast for the industry, ecommerce business owners must not be complacent and instead leverage the growth in sales and shoppers by managing their finances properly. One way to do so is by implementing an account hierarchy for more organized financial reporting and analysis.
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