Monday, May 12, 2008

JupiterResearch: Multi-Channel E-Commerce Expansion Vital to Online Retail Success

A majority of online retailers consider multi-channel expansion as a key component in their marketing strategies, according to a new study conducted by JupiterResearch and Internet Retailer.

Seventy-five percent of online retailers surveyed cited multi-channel expansion as a key component in their marketing strategies, while a staggering ninety-eight percent said that they market on at least two online channels.

Sponsored by ChannelAdvisor, a provider of e-commerce channel management solutions, this new study provides in- depth insights into the fundamental issues driving multi-channel online retailing.

ChannelAdvisor notes that the recent findings deliver a “unique perspective on how online retailers are capitalizing on the full spectrum of e-commerce channels and explore the benefits and the challenges of expanding their reach.”

More than 70 percent of retailers who reported using multiple online channels, according to the study, enjoyed increased sales. Also, 80 percent realize increased customer acquisitions while 71 percent report significant growth in qualified customers.

The findings were similar for those retailers who reported outsourcing their multi-channel initiatives. The study finds that 69 percent report increased sales, while 65 report increased customer acquisition. Also, approximately 60 percent experience higher returns on marketing spend.

The results provide actionable information for retailers who are evaluating online programs including paid and organic search, and comparison shopping engines, according to Brad Wolansky, vice president of global E-Commerce at The Orvis Company.

Scot Wingo, CEO of ChannelAdvisor, said that this survey suggests that ChannelAdvisor has a unique opportunity to help retailers assess where they in the multi-channel life cycle and the implications for moving forward.

“Clearly, going multi-channel is the first step. To be truly successful, they need to define what they expect from their e-commerce solution providers in terms of marketing spend and efficiencies to judge the overall profitability of the relationship,” he added.

Anshu Shrivastava is a contributing editor for TMCnet. To see more of her articles, please visit her columnist page.
via tmcnet

Jason Kiwaluk

Mower & Shoveller,

Ideation | Ecommerce | Fintech | Innovation | Strategy | Opinionated Agitator RevenueWire,FuturePay+PayMotion

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