E-Commerce Tech Spending By Retailers On The Rise
According to the results of Internet Retailer's latest monthly survey on e-commerce technology spending intentions, responses from 195 chain retailers, catalog companies, virtual merchants and consumer brand manufacturers reveals that 78.2% of the retailers surveyed plan to increase their spending on e-commerce applications and services this year. Merchants are planning to purchase applications and services that expedite order processing, analyze shopping behavior and give shoppers more personalization tools.
The survey finds:
Mike Brinker, e-commerce and web channel solutions leader for Deloitte Consulting, says "Retailers... want to keep pace with giving their customers a better shopping experience (for their customers)... merchants using updated technology today and getting ready for... Internet retailing tomorrow are the ones that will remain the most competitive."
E-commerce tech budgets for retailers in the study ranged from under $50K to over $5MM
For 46% of the respondents, the main technology buying decision maker is the CEO, followed by the chief marketing officer at 11.6%, and chief information officer at 11.1%.
The survey also reports that:
Top E-Commerce Replacement Priority For 2007(% of respondents)
Consumer Brand Mfg
Site search software
Order management systems
Content management system
Rich media application
Performance monitoring application or service
Source: Internet Retailer, July 2007
With the number of broadband Internet users expected to reach 115 million households as soon as 2011, according to In-Stat, a growing number of web merchants are making plans to deploy rich media applications that enable shoppers to compare merchandise in greater detail, view and rotate products in three dimensions and perform other more interactive functions.
For the complete article and charts from Internet Retailer, please visit this site.