Retailers Doubt Their Effectiveness In Dealing With Challenges: Study

Retailers expect product returns and other challenges to balloon over the next 12 months. But many are unprepared to deal with these problems, according to Digital Complexity: Thriving in Unpredictable Times, a study from Fluent Commerce, commercetools and Contentstack, conducted by Incisiv.

Of the companies polled, 81% expect an increase in returns. However, only 48% feel they will be effective in coping with it. 

In addition, while 87% expect an increase in digital assets, 32% say they will be effective in managing them. And only 43% feel equipped to deal with increase in online SKUs that 88% of them anticipate. 

In addition, respondents expect growth in these areas:

  • New technologies  —71% (46% say they are 
  • Store fulfilled orders — 66% (35% are prepared)
  • Engagement channels — 60% (46% say they are effective).

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Meanwhile, almost 60% of retailers believe their store fulfillment and personalization platform will support only some of their needs during the next year.  

And only 17% claim they can launch an online marketing campaign within a week.

The top challenges in managing digital businesses are:

  1. Store inventory accuracy 
  2. Lack of accurate inventory visibility 
  3. Getting accurate inventory information online
  4. Number of channels to effectively manage
  5. Reducing cart abandonment
  6. Increaseing cart size through recommendations
  7. Ability to quickly update content
  8. Lack of good tech for managing online orders and returns
  9. Limited view of operations/poor data visibility

Incisiv surveyed 358 marketing directors and above in the U.S., UK, France and Germany in Q2 and Q3 of 2022.

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