STAMFORD, Conn.--(BUSINESS WIRE)--The lack of standardization and shared common ‘best practices’ are the biggest obstacles in achieving ecommerce excellence.
That is the broad conclusion of a new study by Brand View. The study, entitled Ecommerce Excellence Study USA: CE & GM 2016, is the first of its kind, as it is based on exclusive research conducted by Brand View, centering on the manufacturer-retailer relationship and best-in-class approaches to General Merchandise (GM) and Consumer Electronics (CE) online sales.
The shopper journey starts online for well over eighty percent of purchases of General Merchandise and Electrical products. Shoppers now enjoy the freedom of using multiple devices, whenever and wherever they like.
Ecommerce is recognized for its ability to allow businesses to communicate and to form transactions anytime and anyplace. Whether an individual is in the US or overseas, business can be conducted through the Internet. The power of ecommerce allows geophysical barriers to disappear, making all consumers and businesses, globally, potential customers and suppliers.
However, said one study participant, ‘we know that when somebody touches our product and holds it in their hand and uses it (the experience that they have in-store) that the conversion goes through the roof. The challenge from a digital perspective, and from a content and commerce perspective, is how we translate that online’.
The objective of the study was to research and benchmark how retailers and manufacturers view each other in the most important areas of the manufacturer-retailer relationship and to understand what others can learn the from best-in-class businesses.
‘The study identifies those manufacturers and retailers operating at an aspirational level online’, Brand View’s President, Bruce Dove said, ‘as ranked by their trading partners - providing benchmarks across all trade channels’.
Participants included the biggest global CE and GM manufacturers and retailers including Best Buy, Samsung, Electrolux and Whirlpool.
Brand View is the leading global provider of price, promotion, product content and online product positioning analytics.
We enable our clients, retailers and suppliers, to measure and manage their price position and nutritional proposition, communicate this to shoppers, increase their digital presence and ecommerce performance.
Trusted by the biggest names in the industry, Brand View’s easy to use, powerful analytics give clients an unparalleled insight into the competitor landscape.
Seamless coverage of online and bricks and mortar stores – including North American, South American, European, Chinese, South Korean and Australian markets.
Easy integration of proprietary data facilitates the immediate benchmarking of value propositions, promotional strategies and online activity against competitors. Through instant, integrated insights, monitor price movements, promotions, product content changes, new product listings and ecommerce performance.