BOSTON--(BUSINESS WIRE)--Salsify, the only SaaS platform that powers the seamless creation and exchange of rich product content for products on the digital shelf, today released market research data revealing that major brands are concerned about their level of preparedness for the future of e-commerce.
The data, gathered by Echo Cove Research from interviews with 200 leaders in e-commerce from major consumer brands, found that only 25 percent surveyed believe their organizations are ready to adapt to future shopping channels. Similarly only 29 percent of brands surveyed agreed that their organizations know how to capitalize on the growing e-commerce and mobile commerce markets. Despite their lack of readiness, the data also found that brands plan to drastically increase products, sales, and expand their use of digital channels in the next two years:
- 73 percent of brands plan to sell more SKUs through major online marketplaces
- 75 percent of brands plan to sell more SKUs on major retail sites
- 40 percent of brands that don’t currently sell through their own websites, will do so in the next two years
Further deepening this disconnect, only 43 percent of brands surveyed believe that consumers buy based on product content, yet according to a study by Comscore and UPS, 73 percent of consumers reported that detailed product information is the single most important factor in the search and selection process when buying online. And despite the clear consumer demand for detailed product content, only 41 percent of brands listed improving their product content management systems as one of their top priorities.
Brands that recognize the importance of product content will “win” at e-commerce, according to McKinsey & Company.“The best-performing CPG companies are pushing the boundaries of the ‘perfect page’ online by providing rich product information and content that also helps deliver search results that are more favorable to their company.” Brands with centralized product content management systems in place also feel optimistic about the investment, with 68 percent believing in the power of content to drive sales.
“It is becoming clearly evident that to remain competitive and agile in today’s omnichannel world, brands need to pay special attention to what consumers need when they’re shopping online,” said Jason Purcell, Co-founder and CEO of Salsify. “We are finding more strikingly than ever before that product content is core to the consumer experience. This research shows that companies addressing this need are more prepared to meet the challenges of new channels and consumer demands. They are the ‘Best of Breed’ brands.”
This research data marks the first in an annual industry benchmark that Salsify will conduct, evaluating the importance of product content in e-commerce experiences and how the market shifts to address this important consumer need. To learn more about this data, or to download the full market research results, please visit: http://hubs.ly/H01npg10.
For additional resources, including a wealth of additional market industry information, infographics and comprehensive eBooks on e-commerce, please visit the Salsify Content Center.
Based in Boston, Salsify is the only SaaS platform that powers the seamless creation and exchange of rich product content from brands to retailers. Salsify transforms product content management from an administrative burden into a driver of new revenue and amplified brand value. For more information, please visit: http://www.salsify.com.