Survey Predicts Significant Investment Boost in eCommerce
E-commerce executives plan to increase investment in coming months: Survey
Despite facing multiple hurdles in business growth, the consumer brand leaders are still hopeful of expanding business in the near future, which is compelling them to invest more in the coming days. This trend was observed in a recent survey conducted by Pattern, a leading e-commerce accelerator.
The survey claims that consumer brand leaders have revealed their plans to significantly increase investment in e-commerce over the next 6-12 months. The analysis, which included responses from over 300 executives across various sectors, highlights the growing importance of digital channels in driving business growth.
Increased Investment in E-commerce
According to the survey, executives plan to boost their financial investment in e-commerce by an average of 17% over the next year. Notably, 27% of brands anticipate an increase in investment between 25% and 100%. This surge in investment reflects the growing recognition among brand leaders of the need to adapt to the rapidly evolving e-commerce landscape.
Also Read: Global eCommerce Shows Signs of Recovery, Marketplaces Lead the Way: Report
Key Investment Priorities
The survey identified several key areas where brand leaders intend to focus their e-commerce investments:
Enhancing Product Listings: 58% of executives plan to improve product imagery, video content, and copy for online listings.
Influencer Marketing: 51% aim to amplify their influencer marketing efforts.
Branding and Packaging: 43% are looking to refine their branding and packaging strategies.
Product Design: 41% intend to intensify their focus on product design.
These priorities underscore the importance of creating a compelling and engaging online presence to attract and retain customers in the highly competitive e-commerce market.
Challenges Facing Brands
Despite the optimistic outlook on investment, executives face several challenges that could impede growth:
Rising Shipping Costs: Approximately one-third of executives cited increased shipping costs as a significant barrier.
Inventory Management: Issues related to inventory management also pose challenges for many brands.
Unauthorized Sellers: 25% of leaders need help with controlling unauthorized sellers and distributors, which can undermine their sales efforts.
Expanding to New Channels: A similar percentage reported difficulties in expanding to new channels and marketplaces, limiting their growth potential.
To overcome these challenges, many executives are partnering with e-commerce accelerators, which have been shown to help brands navigate the complexities of the online marketplace more effectively.
The findings from Pattern's analysis underscore the commitment of consumer brand leaders to investing in e-commerce as a key driver of growth. By focusing on enhancing their online presence, leveraging influencer marketing, and refining their branding and packaging strategies, brands are positioning themselves to thrive in the rapidly evolving e-commerce landscape.
Also Read: Upcoming Compliance Deadlines for Amazon Sellers: What You Need to Know
Follow us on Facebook, X and LinkedIn to get the latest news and updates related to online selling.
By ChannelMAX Staff Writer
Aug-2024#31
Despite facing multiple hurdles in business growth, the consumer brand leaders are still hopeful of expanding business in the near future, which is compelling them to invest more in the coming days. This trend was observed in a recent survey conducted by Pattern, a leading e-commerce accelerator.
The survey claims that consumer brand leaders have revealed their plans to significantly increase investment in e-commerce over the next 6-12 months. The analysis, which included responses from over 300 executives across various sectors, highlights the growing importance of digital channels in driving business growth.
Increased Investment in E-commerce
According to the survey, executives plan to boost their financial investment in e-commerce by an average of 17% over the next year. Notably, 27% of brands anticipate an increase in investment between 25% and 100%. This surge in investment reflects the growing recognition among brand leaders of the need to adapt to the rapidly evolving e-commerce landscape.
Also Read: Global eCommerce Shows Signs of Recovery, Marketplaces Lead the Way: Report
Key Investment Priorities
The survey identified several key areas where brand leaders intend to focus their e-commerce investments:
Enhancing Product Listings: 58% of executives plan to improve product imagery, video content, and copy for online listings.
Influencer Marketing: 51% aim to amplify their influencer marketing efforts.
Branding and Packaging: 43% are looking to refine their branding and packaging strategies.
Product Design: 41% intend to intensify their focus on product design.
These priorities underscore the importance of creating a compelling and engaging online presence to attract and retain customers in the highly competitive e-commerce market.
Challenges Facing Brands
Despite the optimistic outlook on investment, executives face several challenges that could impede growth:
Rising Shipping Costs: Approximately one-third of executives cited increased shipping costs as a significant barrier.
Inventory Management: Issues related to inventory management also pose challenges for many brands.
Unauthorized Sellers: 25% of leaders need help with controlling unauthorized sellers and distributors, which can undermine their sales efforts.
Expanding to New Channels: A similar percentage reported difficulties in expanding to new channels and marketplaces, limiting their growth potential.
To overcome these challenges, many executives are partnering with e-commerce accelerators, which have been shown to help brands navigate the complexities of the online marketplace more effectively.
The findings from Pattern's analysis underscore the commitment of consumer brand leaders to investing in e-commerce as a key driver of growth. By focusing on enhancing their online presence, leveraging influencer marketing, and refining their branding and packaging strategies, brands are positioning themselves to thrive in the rapidly evolving e-commerce landscape.
Also Read: Upcoming Compliance Deadlines for Amazon Sellers: What You Need to Know
Follow us on Facebook, X and LinkedIn to get the latest news and updates related to online selling.
Disclaimer:
Pattern is the registered trademark of the company.
About ChannelMAX.NET:
ChannelMAX offers Amazon Repricer that runs on the latest AI Repricing algorithm to do Amazon Pricing Management or Amazon Repricing. Based on Amazon SP API, the repricing engine or repricer runs 24/7 and efficiently manages Amazon prices to maximize your BuyBox with profit optimization. Established in 2005, ChannelMAX has been integrated with Amazon technology since 2007, helping thousands of third-party sellers on various eCommerce platforms. Some of the eCommerce platforms, aka marketplaces, supported by ChannelMAX.NET, are Amazon, Walmart, eBay, and Shopify. Some of ChannelMAX key offerings include ChannelMAX Amazon Repricer, 2ndly, ChannelMAX Amazon FBA Audits and FBA Refunds management, an offering for managing Amazon FBA Refunds Reimbursement management for lost or damaged or misplaced inventory for which Amazon is responsible and for which sellers deserve appropriate credit reimbursement from Amazon. ChannelMAX Services offer Remote (aka Virtual) Full-Time eCommerce Assistant to help 3P sellers run their daytoday business.
Check ChannelMAX at Amazon Selling Partner Appstore, an application with a 5 star rating.
Pattern is the registered trademark of the company.
About ChannelMAX.NET:
ChannelMAX offers Amazon Repricer that runs on the latest AI Repricing algorithm to do Amazon Pricing Management or Amazon Repricing. Based on Amazon SP API, the repricing engine or repricer runs 24/7 and efficiently manages Amazon prices to maximize your BuyBox with profit optimization. Established in 2005, ChannelMAX has been integrated with Amazon technology since 2007, helping thousands of third-party sellers on various eCommerce platforms. Some of the eCommerce platforms, aka marketplaces, supported by ChannelMAX.NET, are Amazon, Walmart, eBay, and Shopify. Some of ChannelMAX key offerings include ChannelMAX Amazon Repricer, 2ndly, ChannelMAX Amazon FBA Audits and FBA Refunds management, an offering for managing Amazon FBA Refunds Reimbursement management for lost or damaged or misplaced inventory for which Amazon is responsible and for which sellers deserve appropriate credit reimbursement from Amazon. ChannelMAX Services offer Remote (aka Virtual) Full-Time eCommerce Assistant to help 3P sellers run their daytoday business.
Check ChannelMAX at Amazon Selling Partner Appstore, an application with a 5 star rating.