More than half (58%) of leading retailers admit that they’re not living up to consumers’ expectations when it comes to bringing together digital and physical experiences.
And, despite retailers’ massive shift to digital over the past year, 51% of large retailers say that digital channels still account for only 20% or less of their total revenue.
So finds a study by Bold Commerce, which reveals that, while 90% of retailers want to continuously innovate and rapidly test new customer experiences, forty-three (43%) of retailers say they lack the resources to do so. It goes on to say that many retailers are doubling down on their efforts to improve omnichannel experiences. The top two areas where retailers see opportunities to improve the online shopping experience are having a unified view of inventory availability (49%) and applying the same business rules, such as pricing, promotions, across all customer touchpoints (44%).
Retailers’ approaches to their tech investments are mixed, with a relatively even split among retailers leaning towards investing in existing technologies (40%), or adding additional solutions (31%), versus fully replacing their commerce platform (29%).