The pandemic thrust many retailers into ecommerce — and shoppers became comfortable shopping online. Retailers are now taking a step back to reassess what technologies will help retain existing customers and entice new ones. Digital Commerce 360’s 2023 Leading Vendors Report includes survey data and case studies demonstrating how technology helps retailers.
Leading Vendors Report Says Will Invest More In Technology In 2023
According to Digital Commerce 360’s Digital Technology survey, conducted from September to October 2022, three-quarters of surveyed retailers (76%) plan to increase their investment in technology to attract new and retain loyal customers in 2023.
Leading Vendors Report Says Will Invest More In Technology In 2023
The next question retailers need to ask themselves is whether to outsource technology or build it themselves. According to the survey, 70% plan to outsource the task rather than attempt to build a tech stack in house.
Leading Vendors Report Says Will Invest More In Technology In 2023
What technology is important for retailers?
Online retailers are prioritizing which technologies will have the most impact. They want to automate where possible and learn how to decipher and use data to their advantage. That requires investment. Three in four retailers expect to increase spending by 15% or less. Meanwhile, 39% predict they will spend 10.1% to 15% more.
Leading Vendors Report Says Will Invest More In Technology In 2023
When asked to narrow down their top priorities, nearly half (46%) said investing in an ecommerce platform topped their list. Other priorities included customer relationship management technology (34%), online marketing (30%), and 27% cited content management and customer service software, respectively.
Leading Vendors Report Says Will Invest More In Technology In 2023
Technology must be easy to implement and use
Learn how PacSun is retrofitting its 15-year-old legacy enterprise software with updated technology to link its online and in-store customer journeys as well as update its shipping and fulfillment strategies. Digital penetration is about 35% of the entire business, says Shirley Gao,…
Leading Vendors Report Says Will Invest More In Technology In 2023
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Leading Vendors Report Says Will Invest More In Technology In 2023