Ecommerce executives at retailing and consumer brand manufacturing companies are, in general, conducting their online retailing organizations with lean staffing and plenty of challenges ahead.
But they also are continuing to invest in ecommerce, according to a new survey of 300 online retail executives from ecommerce and marketplace services provider Pattern.
The survey finds that executives plan to increase their financial investment in ecommerce by an average of 16% over the next 6-12 months, with 25% of organizations reporting a planned increase of 31%-98%. According to Pattern, just 6% of executives surveyed plan to decrease their overall financial investment during the same period.
Retailers continue ecommerce investment through challenges
Other findings include:
- 58% of executives plan to increase their investment in product imagery, video, and copy for online listings.
- 51% plan to increase their investment in influencer marketing.
- 43% are set to increase their investment in branding and packaging.
- 41% are upping their financial commitment to product design.
Despite increasing their investment in ecommerce, retailing and consumer brand manufacturing companies also face challenges.
Among them:
- 1 in 3 executives say rising shipping costs and an inability to maintain inventory levels are key impediments to their growth.
- 1 in 4 brand leaders are struggling to get unauthorized sellers and distributors under control.
- 1 in 4 also say an inability to expand to new channels and marketplaces is stymying their growth.
Every brand is more successful when they can make data-driven decisions, but brands have historically not had access to good data on what’s impacting their peers and how they’re planning for the future,” says Pattern chief revenue officer John LeBaron.
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