In 2020, almost half of all retailers will switch to Unified Commerce
The results of the international study for which we commissioned Forrester are freshly out since end of 2019. It was aimed at two target audiences: retailers (over 160 decision-makers), and consumers (1,500 people surveyed). By comparing these two points of view, we can now properly analyse the expectations of buyers and the maturity of businesses, consequently allowing us to better manage our priorities.
Some of the lessons drawn from this tailor-made study include: 43% of retailers plan on adopting a Unified Commerce solution in 2020. This extremely high figure shows that retailers have understood the need for a seamless consumer journey.
Asked what would determine their choice of solution, 80% mentioned integration with existing infrastructure, and 73% that they would like unified data for products and customers (Data Hub).
45% of retailers are particularly focused on order management: well aware of consumers’ evolving needs, they want customers to be able to place products from any channel into one, single basket. (77%).
By installing a Unified Commerce solution, 60% of retailers aim at improving the customer experience, which indirectly means increasing the Customer Lifetime Value – the amount of profit generated by the company throughout the customer’s life – as well as customer loyalty, satisfaction and, evidently, the average basket size.
The consumers surveyed proved they aren’t wrong: 80% confirmed that they would be more loyal and spend more if a company offered them a seamless consumer journey.
Meanwhile, 82% of buyers have already abandoned an online basket in the last three months, primarily because of delivery price and times.
Again, over 80% consider free delivery and a flexible returns policy as key factors in their buying decision.
And 70% of consumers expressed their disappointment in physical stores: citing too many out-of-stock items and too much time spent waiting to pay or speak to an assistant! All too many solid arguments to switch to Unified Commerce.