Wednesday, April 17, 2024

Online retailers to boost their e-commerce budget

2020 saw great success for online retailers, therefore two-thirds of them will increase their e-commerce budget this year.

The research is from an independent survey, commissioned by leading parcel delivery service CouriersPlease (CP).

It was discovered that 66% of online retailers will put more resources and money into enhancing, growing and maintaining their online function this year. 44% of this group will increase their e-commerce budget by more than 20% and 18% by more than 40%.

“Consumers are becoming more comfortable shopping online and the retail sector is continuing to grow,” Chief Commercial Officer at CP, Paul Roper says.

“As such, online competition will grow alongside customer expectations, and retailers are best to refine their e-commerce strategies ongoing to ensure they are performing.”

Additionally, CP asked retailers if, and what, they tried to increase online sales last year from a list of seven action categories.

32% of online retailers did not make changes, this suggests that those retailers experienced an organic increase in online sales or cut costs throughout the business.

Among those that did make changes:

  • 49% increased their sales and promotions
  • 45% boosted their social media activity
  • 35% improved their e-commerce sites
  • 31% communicated more with customers
  • 30% incentivised customers
  • 21% spent on advertising

“I believe key areas for improvement within e-tailer online strategies are the customer experience, from product search on the site right through to the last mile delivery,” Mr Roper explains.

“As part of this, retailers could also review and enhance their returns process, which includes choosing a delivery partner that aligns with their 2021 goals.”

The full survey from CP can be viewed here.

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