Brands hope to improve their customer experience and improving personalization by exploring new channels, according to Product To Consumer Management Powers Future Commerce Opportunities, a study from Productsup, conducted by Forrester.
With good reason: The respondents recognize that poor online experiences can lead to lost sales (63%), damaged perception of the brand (60%) and vulnerability to competitors (57%).
Brands cite the following activities as their top priorities:
In line with all that, firms expect to prioritize the following over the next 12 months, citing these goals as critical or important:
However, so-called “commerce anarchy” has led to companies struggling to keep product information consistent (39%), customize product descriptions (34%), and syndicate product data (32%), the study says.
The leading challenges are:
Marcel Hollerbach, chief innovation officer at Productsup, states: “Having full control over your product data is the only way to provide consistent, tailored experiences across every customer touchpoint, which is essential for sustainable, global commerce success.”
Forrester surveyed 385 business decision-makers and directors in Europe and North America.