Our expertise in both digital commerce and sales optimization helps many organizations to create unique digital experiences for their customers, with measurable business results.
Growth in Digital Commerce
Digital commerce represents a substantial amount of total revenues for retailers and is expected to continue its multi-year double-digit growth trend. Every industry that sells anything to customers is effected by this trend. In the U.S. alone, 2017 sales are on track to hit or surpass $400B.
The great advantage of digital commerce is the clearly attributable and trackable revenue it generates, as well as the valuable customer insights it provides.
The growth of online retails dwarfs that of offline sales by almost 800%. That's the good news. The less good news is so much of the good news story ends up with Amazon and Alibaba. But any brand with reach can win in digital.
Impact of Mobile on Digital Commerce
Mobile retail sales have increased 25% year over year
Mobile accounts for 70% of time consumers spent on a retailers site, and 20% of sales.
Of particular note in digital commerce is the role mobile plays. Although we only see 20% of sales conversions on mobile, 70% of the time browsing retail websites happens on mobile devices.
And if you dive deeper, you can clearly see the importance of mapping the customer journey and analytics in order to achieve sales goals.
While around 70% of consumers use their smartphones to research and check prices before purchasing, 60% use their device to find a store and 40% purchase for home delivery. What is clear about the statistics is the need to fully structure an omnichannel buying, personalization and marketing strategy for digital commerce. Machine learning and predictive analytics, along with novel business models will boost the next generation of digital commerce experiences and revenues.
The Customer Journey
In digital commerce, the website or app must be considered a personalized experience at the center of a platform that consists of customer journey analytics, which provides for personalized content and offers. All of this is in service to the well-known marketing cycle of attract, engage, convert and retain.
As we can see, the customer buying journey includes multiple channels and touchpoints. There are a growing number of marketing channels and tactics, which, without very well defined analytics, would create confusion about which channels and tactics to use, how they should be