Strategies for Optimizing Online Commerce - Product Image

Strategies for Optimizing Online Commerce

  • ID: 4382912
  • Report
  • 14 pages
  • Ovum
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Introduction:

The author undertook a study of 100 UK merchants to investigate the state of online commerce and better understand how the industry perceives its own challenges in 2017 and into 2018. This study included a detailed questionnaire asking merchants about their online capabilities and perceived challenges and opportunities.

Highlights:

The importance of digital channels to commerce in the UK continues to grow at a rapid pace. Among the merchants surveyed, mobile channels are expected to account for a sevenfold increase in sales between 2015 and 2019.

Features and benefits:
  • Assesses how UK merchants are adapting to some of the challenges they face in remaining competitive in the online space.
  • Learn how reducing payment friction requires new forms of innovation, such as lines of consumer credit at the online checkout.
Key Questions answered:
  • How important are millennials to e-commerce today? What proportion of sales do they account for, and what impact is this having on investment strategies?
  • How important are online returns capabilities? Do larger firms have any advantages over smaller ones?
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1. Summary
  • Catalyst
  • Publisher's view
  • Key messages
2. Recommendations
  • Recommendations for enterprises
  • Recommendations for vendors
3. Retail pressure across all channels
  • Digital channels are key to success
  • Millennials and Generation Z now make up a majority of online shoppers
4. Improving payments in the online experience is a must to reduce friction
  • A frictionless checkout is more critical than ever
  • 76% of retailers want to offer new financing options online
5. Returns are a battleground in driving online sales
  • Free returns increase online sales but place pressure on merchant margins
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